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Marimaca Copper Announces Updated Mineral Resource Estimate for the Marimaca Oxide Deposit
44% increase in M&I Resource tonnes to 200Mt at 0.45% CuT for 900kt of Contained Copper Inferred Resource of 37Mt at 0.38% CuT for 141kt of Contained Copper 86%
About this update from Marimaca Copper Corp.
[{"type":"text","content":" 44% increase in M&I Resource tonnes to 200Mt at 0.45% CuT for 900kt of Contained Copper Inferred Resource of 37Mt at 0.38% CuT for 141kt of Contained Copper 86% of Total Resource Tonnes in Measured and Indicated Categories VANCOUVER, British Columbia, May 18, 2023 (GLOBE NEWSWIRE) -- Marimaca Copper Corp. (“Marimaca Copper” or the “Company”) (TSX: MARI) is pleased to announce an updated Mineral Resource Estimate (“MRE”) for the Marimaca Oxide Deposit (the “MOD” or the “Project”) located in the Antofagasta region of northern Chile. The 2023 MRE incorporates 28,374m of new drilling data completed since the 2022 MRE released in October 2022. The MOD database now consists of 139,164m of drilling completed since discovery in 2016. New drilling data captured following the 2022 MRE was largely targeted at conversion of Inferred Resources to the Measured and Indicated categories. The 2023 MRE was prepared in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (\"CIM\") Definition Standards and National Instrument 43-101 - Standards of Disclosure for Mineral Projects (\"NI 43-101\"). Highlights Measured and Indicated Resources of 200.3Mt at 0.45% CuT for 900kt of contained copper Inferred Resources of 37.3Mt at 0.38% CuT for 141kt of contained copper 86% of the MOD’s total resource tonnes now contained in the Measured and Indicated categories Significantly de-risks the Marimaca ore body ahead of the planned Definitive Feasibility Study (DFS) Majority of new drilling focused on areas of the northern MOD which previously contained lower density of drilling (see Figure 1) Unique characteristics of the MOD maintained in the 2023 MRE: Low strip ratio maintained in the constraining pit shell All mineral resources captured in a single continuous pit Represents the final phase of oxide resource definition at the MOD ahead of the planned DFS Ongoing exploration workstreams will focus on the Marimaca sulphide target and the delineation of near-mine satellite oxide targets (Mercedes, Cindy, Mititus) Hayden Locke, President & CEO of Marimaca Copper, commented: “The 2023 MRE represents the culmination of an exceptionally successful two years of infill drilling at the Marimaca Oxide Deposit led by Sergio Rivera and his team. We are very pleased with our conversion ratio of Inferred Resources to Measured and Indicat...