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Marimaca: Channel Sampling at the Mercedes Satellite Target Intersects 80m at 0.41% CuT; Exploration Drilling Commences

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Marimaca Copper Corp.
Marimaca Copper Corp.

VANCOUVER, British Columbia, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Marimaca Copper Corp. (“Marimaca Copper” or the “Company”) (TSX: MARI) is pleased to announce further results from channel sampling completed at the Mercedes target (“Mercedes”). The southern extent of Mercedes is located approximately 400m north of the Marimaca Oxide Deposit (the “MOD”). Chip sampling in 2m intervals was completed along access road cut 1000 (see Figure 1), complementing the previously announced channel sampling results from road cut 1050 (see press release dated July 2nd, 2024). The new results confirm the continuity of surface copper oxide mineralization to the northwest within the Mercedes AOI, which now extends across an area 700m x 500m. Drill rigs are currently being mobilized to site with drilling expected to commence imminently, and first results becoming available in early October. Road cuts 1000 and 1050 will provide access to drill platforms to be utilized in the 2024 Mercedes exploration program.

Mercedes is strategically located immediately adjacent to the MOD to the north. Should the 2024 drilling program be successful, the Company will consider additional drilling and study programs to evaluate the potential future integration of Mercedes into development plans at Marimaca.

Highlights

  • Samples were taken in 2m intervals across road cut 1000, located northwest of previously announced road cut 1050 (See Figure 1)

  • Highlights from the new channel sampling results:

    • 298m @ 0.20% CuT (incl. internal dilution) including:

      • 130m at 0.32% CuT; including

      • 10m at 1.38% CuT within a broader zone of 80m at 0.41% CuT

  • Construction of initial drill platforms and access is now complete with drills currently being mobilized to site

    • 8 platforms will be constructed (3 now complete) via road cuts 1000 and 1050 to test down-hole extensions drilled at an orientation near-perpendicular to the NE-oriented structural trends identified on surface

    • Phase I of the 2024 Mercedes drilling campaign will test approximately 2,000m across 7 drill holes, followed by a further 2,500 m across 9 drill holes

  • Results continue to compare favourably to the original discovery channel sampling at the MOD – which intersected 150m at 0.36% CuT (Coro Mining press release dated October 30th, 2014)

Sergio Rivera, VP Exploration of Marimaca Copper, commented:

“We look forward to commencing the upcoming exploration drilling program at Mercedes following completion of the new road infrastructure. Channel sampling results from cuts 1050 and now 1000 demonstrate promising potential for the continuity or repetition of the Marimaca IOCG-system to the north.