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Marimaca Copper Condemnation Drilling Intersects 30m at 1.0% CuT from 62m in Newly Discovered San Lorenzo Area; Confirms Project Layout
VANCOUVER, British Columbia, Jan. 15, 2024 (GLOBE NEWSWIRE) -- Marimaca Copper Corp. (“Marimaca Copper” or the “Company”) (TSX: MARI) is pleased to announce the
About this update from Marimaca Copper Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 15, 2024 (GLOBE NEWSWIRE) -- Marimaca Copper Corp. (“Marimaca Copper” or the “Company”) (TSX: MARI) is pleased to announce the completion of the infrastructure condemnation drilling program. The program was designed to test and confirm the planned site layout to be incorporated into the Company’s ongoing permitting and Definitive Feasibility Study (“DFS”) workstreams. Drilling targeted key areas defined for planned site infrastructure to confirm absence of mineralization and suitability for development. Highlights Twenty-one reverse-circulation (“RC”) drill holes completed across the planned Marimaca Project infrastructure areas Drilling was designed to confirm the absence of potential mineralization at these areas, as well as rock suitability for development Drilling confirmed suitability of planned layout for plant site, heap leach pads, waste dumps, site offices and ripios dumps (spent heap leach ore) Layout will be incorporated into the design component of the ongoing Definitive Feasibility Study, led by Ausenco (see press release dated October 30th, 2023) Drill hole, SLR-08, drilled south of the planned plant facilities in the San Lorenzo district, intersected 30m at 0.99% CuT from 62m within a broader zone of 68m at 0.51% CuT from 62m Represents a new zone of mineralization encountered at the Marimaca Project San Lorenzo is located approximately 4km from the Marimaca Oxide Deposit (“MOD”) and represents a separate and distinct mineralized zone Results will be incorporated into future exploration plans and continue to demonstrate the significant discovery potential and exploration optionality at the broader Marimaca Project Initially planned for one of two initial areas identified for ripios dumps, the San Lorenzo area will be evaluated further for mineralization potential to ensure operational flexibility for future development The Marimaca Oxide Project DFS remains on schedule for late 2024 completion with permit submissions targeting the middle of 2024 Hayden Locke, President and CEO, commented: “With condemnation complete, we are confident in locking in our plant and infrastructure locations for both permitting and the Definitive Feasibility Study. We have used the information from this program for the dual purpose of confirming ground conditions to underpin expected civil ea...