Marimaca Copper Corp.: 2021 Exploration Program Starts and Drill Rigs Mobilized

VANCOUVER, British Columbia, Jan. 12, 2021 (GLOBE NEWSWIRE) — Marimaca Copper Corp. (“Marimaca Copper” or the “Company”) (TSX: MARI) is pleased to announce the mobilization of drilling contractors, the construction of the first drill pads and the commencement of construction of the infrastructure and support facilities for the 2021 exploration program across the Marimaca Copper District.HighlightsDrilling support facilities are under construction to support the upcoming drilling programs encompassing the Marimaca Sulphide, Mercedes Oxide and Cindy TargetsDrilling contractors mobilized and drill pad construction underway for first holes at the Marimaca Sulphide Target
Numerous deeper holes drilled at Marimaca during Phase II drilling intercepted sulphide mineralization below the Marimaca Oxide Deposit (“MOD”). Significant results previously released to the market include:
    •  42 metres averaging 0.57% CuT from 272 metres in ATR-30
    •  26 metres averaging 0.97% CuT from 178 metres in ATR-78
    •  16 metres averaging 1.4% CuT from 122 metres in ATR-79
    •  44 metres averaging 1.05% CuT from 206 metres in ATR-82
    •  26 metres averaging 0.84% CuT from 148 metres in ATR-84
    •  36 metres averaging 1.68% CuT from 84 metres in ATR-85
    •  38 metres averaging 1.04% CuT from 180 metres in ATR-93; and
    •  48 metres averaging 1.30% CuT from 78 metres in ATR-94.
°  Several holes ended in mineralization and the sulphide zone remains open in all directions
Induced Polarization (“IP”) complete, release pending processing and interpretation
Infrastructure construction underway at the large Mercedes Oxide Target
Exploration program will expose mineralization and provide additional information with respect to oxide target
Geochemical sampling and mapping completed at Cindy Target, release pending assay results and interpretationIP completed at both the Mercedes and Cindy Targets, release pending processing and interpretationDrilling expected to commence before the end of January, first results by the end of Q1 2021Hayden Locke, President of Marimaca Copper, commented:“Our team has worked tirelessly over the holiday season to prepare for the upcoming exploration program and we are excited to announce that drill rigs have been mobilized and site preparations are well underway. The first rig will focus on the Marimaca Sulphide Target, which has the potential to deliver a meaningful extension to the outstanding Marimaca Oxide Project. We have completed IP surveys and the results are pending final processing and review.“We have also commenced the construction of roads near the Mercedes Target, coincident with the large surface geochemical anomaly. This will provide additional geological information by exposing mineralization and allowing for more detailed mapping and sampling.“In addition, the team has completed sampling at the Cindy Target, just to the north of Mercedes. Widespread copper mineralization has been noted in the mapping and sampling work completed and the results should be available to release to the market in the coming weeks.“We are entering an exciting phase for the Company as we move to test several high priority exploration targets, each of which, if we are successful, could change the scale of the opportunity at Marimaca.”Overview of Work Underway in the Marimaca DistrictSupport Facilities Construction, Drill Pad Construction and Rig MobilizationDuring late December and early January, the Company commenced construction of the drilling support facilities. Contractors were mobilized and construction of the first drill pads commenced for the Marimaca Sulphide Target. Drilling is expected to commence before the end of January 2021.Figure 1: Drilling Support Facilities for 2021 Exploration Program
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