Marimaca Copper Corp. [MARI-TSX; CROJD-OTC] has noted that two holes of an initial nine-hole wide-spaced, reverse circulation drilling campaign completed at the Cindy target have intersected significant near-surface copper oxide mineralization. Cindy is located less than 5km north of the Marimaca Oxide Deposit (MOD) in Chile and offers potential to add to the company’s leachable resource base and extend mine life or increase the scale of future operations. Assay results from the remaining six holes have been subject to delays in the laboratory but are expected shortly and turnaround times are expected to improve.
New near surface oxide zone has been discovered at Cindy and is close enough to form part of the MOD development strategy if resource definition drilling is successful. Broad zones of ore grade copper oxide mineralization were intersected in both holes.
CIR-03 intersected 70 metres with an average grade of 0.39% CuT (total copper) from 24 metres including 44 metres of 0.51% CuT from 48 metres.
CIR-02 intersected 124 metres with an average grade of 0.22% CuT from 8 metres including 20 metres of 0.33% CuT from 8 metres.
Additional holes are planned to better define the limits to the mineralized zones at Cindy and to identify any higher-grade areas, for eventual resource definition drilling. CIR-01 intersected a broad zone of lower grade primary sulphide mineralization in the southern part of Cindy.
Assays for remaining six holes have been subject to delays in lab turnaround, but improvements are expected. Results confirm the company’s exploration model for the broader Marimaca District including the Mercedes and Roble Targets. The Mercedes drilling is progressing well with the first six RC holes of an initial nine-hole program.
Sergio Rivera, VP Exploration, commented: â€œThese first drill holes confirm Cindy is a new, near surface, oxide discovery. We are pleased that the exploration model we have developed, based on our strong geological understanding of the MOD, has been confirmed at our first target. CIR-02 was lower grade, but we believe it represents the western periphery of the mineralized body, while CIR-03 was better grade with dominantly green oxide copper mineralization, which is analogous to the central, higher grade zones at the MOD.
â€œThere is a clear broadening in the mineralizing structures as we move north from the Cindy underground workings and, as a result, we would expect better drill results to be around this area. The next phase of drilling at Cindy will focus on defining the extent of the mineralization and indicate its potential scale before we move to resource definition drilling. We are currently drilling the Mercedes Target located immediately north of the MOD and shares numerous characteristics with it.â€
Hayden Locke, President and CEO, said, â€œWe are planning to expand our drilling programs and we have started to incorporate the potential for increased scale of copper production into our decision-making process for the planned MOD feasibility study.â€