Marimaca Copper makes new discovery; drills 86 metres of 0.44% CuT at Mercedes, Chile
Reverse circulation (RC) drilling completed at Marimaca Copper Corp.‘s [MARI-TSX; CROJD-OTC] Mercedes target at the 100%-owned Marimaca project, northern Chile, has intersected significant oxide copper mineralization from surface, with an initial area of interest measuring 400 metres along strike and a 300-metre width. A total of 17 holes were completed of which 12 intersected mineralization. Mercedes is located less than 1 km to the north of the northern edge of the Marimaca Oxide Deposit (MOD) and offers clear potential to add to the company’s leachable resource base. Broad zones of near surface oxide copper mineralization intersected in eight holes.
MER-12 intersected 86 metres averaging 0.44% CuT (total copper) from 6 metres, including 42 metres of 0.64% CuT. MER-16 intersected 48 metres averaging 0.42% CuT from 20 metres, including 20 metres of 0.57% CuT.
MER-06 intersected 74 metres averaging 0.30% CuT from 18 metres, including 46 metres of 0.38% CuT; and 18 metres averaging 0.52% CuT from 132 metres. MER-14 intersected 26 metres averaing 0.42% CuT from 80 metres, including 12 metres of 0.69% CuT.
MER-03 intersected 58 metres averaging 0.34% CuT as part of a broader 98 metres of 0.30% CuT from 4 metres. MER-04 intersected 36 metres averaging 0.34% CuT as part of a broader 86 metres of 0.26% CuT from 6 metres. MER-17 intersected 50 metres averaging 0.25% CuT from 2 metres and MER-01 intersected 28 metres averaging 0.21% CuT from 4 metres.
Underground mapping of historical workings indicates continuous zones of higher-grade mineralization than encountered in the first phase of drilling
The current drilled area of interest extends 400 metres along strike and 300 metres east-west and remains open to south and east. Weak or thinner mineralization was intersected in MER-02, 05, 09, 13, 15 and no significant mineralization intersected in holes MER-07, 08, 10 and 11
Sergio Rivera, VP Exploration of Marimaca Copper, commented: “We are very pleased with the results from the discovery drilling campaign at Mercedes, which has identified significant shallow oxide copper mineralization less than one kilometre away from the flagship Marimaca oxide deposit. The mineralization consists of broad zones of predominantly green oxides, commencing at surface, with some mixed, enriched and copper wad sections.
“Mercedes remains open to the east and to the south, where it is within 1km of the northern extent of the MOD. We are examining whether Mercedes and the MOD may be part of a larger mineralizing system and plan further exploration accordingly.”