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Marimaca Copper: Phase 4 Metallurgical Testing Confirms Recovery Assumptions and Identifies Areas for Optimization and Improvement
The Preliminary Economic Assessment (“PEA”) was prepared in accordance with the requirements of the National Instrument 43-101,Standards of Disclosure for Miner
About this update from Marimaca Copper Corp.
[{"type":"text","content":" The Preliminary Economic Assessment (“PEA”) was prepared in accordance with the requirements of the National Instrument 43-101,Standards of Disclosure for Mineral Projects (“NI43-101”) (refer release on 4 August 2020) and is based on a Mineral Resource Estimate (“MRE”) completed by NCL, which comprised 70 million tonnes, with an average grade of 0.60% total copper within the Measured & Indicated Categories of mineral resources (approximately 420Kt of contained copper),and 40 million tonnes with an average grade of 0.52% total copper within the Inferred Category of mineral resources(approximately 224kt of contained copper) (refer release on 2 December 2019). The PEA is considered preliminary in nature and includes Inferred Mineral Resources that are considered too speculative, geologically, to have the economic considerations applied that would enable classification as Mineral Reserves. There is no certainty that the conclusions within the PEA will be realized. The PEA is based on the material assumptions outlined in the PEA and summarized in the press release on 4 August 2020. These include assumptions about the availability of funding. While the Company considers all of the material assumptions to be based on reasonable grounds, there is no certainty that they will prove to be correct or that the range of outcomes indicated by the PEA can be achieved. VANCOUVER, British Columbia, Sept. 08, 2020 (GLOBE NEWSWIRE) -- Marimaca Copper Corp. (“Marimaca Copper” or the “Company”) (TSX: MARI) is pleased to announce the results of the phase 4 metallurgical testing program (“the Program”) for the Company’s flagship Marimaca Copper Project (“Marimaca” or “the Project”), located in northern Chile. The results confirm the recovery assumptions made in the recently released PEA (refer to announcement on 4 August 2020), which projected Marimaca to have industry leading pre-production capital costs and bottom quartile all in sustaining cash costs, delivering compelling economics including a post tax NPV8 of US$524m and an IRR of 33.5% at a US$3.15/lb copper price. Highlights Comprehensive metallurgical testing program completed comprising composite samples from all defined mineral sub-zones at Marimaca Builds upon results from Phases 1,2 and 3 testing and broadened sampling across the deposit Provides a comprehensive assessment o...