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Marimaca Extends Shallow Oxide Potential at Mercedes Satellite Target

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Marimaca Copper Corp.
Marimaca Copper Corp.

VANCOUVER, British Columbia, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Marimaca Copper Corp. (“Marimaca Copper” or the “Company”) (TSX: MARI) is pleased to announce that reverse circulation (“RC”) drilling completed at the Mercedes Target (“Mercedes”), has extended the envelope of surface oxide copper mineralization to an area of interest measuring 700m along strike and 400m width. A total of 8 holes were completed of which 6 intersected mineralization. Mercedes is located less than 500m to the north of the northern edge of the Marimaca Oxide Deposit (“MOD”) and continues to provide clear potential to add to the Company’s leachable resource base.

Highlights

  • MER-25 intersected 68m with an average grade of 0.64% CuT from 8m including 42m @ 0.90% CuT from 28m

    • Complements and extends broad zones of surface oxide copper mineralization intersected in six historical (refer to announcement 15 September 2021) holes:

      • MER-12 intersected 86m with an average grade of 0.44% CuT from 6m including 42m @ 0.64% CuT

      • MER-16 intersected 48m with an average grade of 0.42% CuT from 20m including 20m @ 0.57% CuT

      • MER-06 intersected:

        • 74m with an average grade of 0.30% CuT from 18m including 46m @ 0.38% CuT; and

        • 18m with an average grade of 0.52% CuT from 132m.

      • MER-14 intersected 26m with an average grade of 0.42% CuT from 80m including 12m @ 0.69% CuT

      • MER-03 intersected 58m with an average grade of 0.34% CuT as part of a broader 94m @ 0.30% CuT from 4m

      • MER-04 intersected 36m with an average grade of 0.34% CuT as part of a broader 86m @ 0.26% CuT from 6m

  • Lower grade halo to the east and south east materially extends the area of interest to 700m along strike and 400m across strike to a depth of 100m

    • MER-20 intersected 86m with an average grade of 0.21% CuT from 18m including 20m @ 0.50% CuT

    • MER-18 intersected 46m with an average grade of 0.20% CuT from 4m including 10m @ 0.36% CuT

Sergio Rivera, VP Exploration of Marimaca Copper, commented:
“Mercedes appears to be a mineralizing system of some scale and we are especially pleased with the continuity of grades in the north-western and western peripheries of the area of interest. The lower grade halo is reminiscent of the boundaries of the MOD, and we continue to see potential to add complementary, shallow, oxide resources to our mineral inventory.”

Hayden Locke, President and CEO, of Marimaca Copper, commented:
“The benefit of the MOD is that the hurdle to bringing proximal, shallow, leachable resources into an eventual mine plan is significantly lower. The drilling in north-western portion of the Mercedes Discovery has an intersection width weighted average grade of nearly 0.40% CuT, which is approaching the average LOM grade of the MOD. Based on this rudimentary assessment, we see strong potential for Mercedes to extend the mine life of the MOD with further work. The average of all drilling over the entire 700m by 400m area of interest is nearly 0.35% CuT, which is well above the economic cut-off we expect from the MOD based on historical work completed.