MARI News: Identifies Large Surface Geochem Anomaly at CindyMarimaca Copper Identifies Large Surface Geochemical Anomaly at Cindy Target
VANCOUVER, British Columbia, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Marimaca Copper Corp. (“Marimaca Copper” or the “Company”)(TSX: MARI) is pleased to announce the results of a recently completed rock geochemistry and reconnaissance mapping program at the Cindy Target, which is located 5km to the north of the Company’s flagship Marimaca Copper Project .
Highlights
Geochemical sampling has identified a very large copper anomaly with grades as high as 2.9% Cu
° Greater than 200ppm Cu anomaly extending over 1km of strike, several ore grade samples noted
° Coincident with historical underground artisanal workings exploiting high grade magnetite-chalcopyrite mineralization
° A significant proportion of the Cindy Target is concealed by post mineral gravels, similar to the Mercedes Target
• The geochemical anomaly is potentially larger than the footprint indicates
Underground sampling provided valuable information regarding mineralizing structures and depth of oxidation
° Indicates potential for broad zones of oxide mineralization above the level of the underground workings
Geochemical anomaly has the same host rocks and controlling structures as observed at the Marimaca Oxide Deposit (“MOD”)
° The Naguayn Fault System, the key controlling fault at the MOD, crosses the Cindy Target
IP surveys completed for Mercedes and Cindy Targets, results pending
Sergio Rivera, VP Exploration of Marimaca Copper, commented:
“Following the success of our geochemical sampling program at Mercedes, which identified a large anomaly for follow-up work, we have completed a similar program for the Cindy Target. “Once again, the results showed a large-scale surface geochemical anomaly, which is coincident with both the Cindy/Llanos magnetic anomaly, identified through previous surveys, and with historical, high grade, underground artisanal workings which mined magnetite-chalcopyrite mineralization. “We continue to note many similarities with the Marimaca Oxide Deposit including the presence of the parallel sheeted, intensely fractured, dyke intruded host monzodiorite adjacent to the regionally extensive Naguayn Fault System which appear to host mineralization. The underground workings provide valuable geological information on controlling structures, but also with respect to the depth of the oxidation profile, indicating the potential for broad zones of oxide mineralization above the level of the underground workings. “We believe the Cindy Target presents an exciting drill target and could represent a Marimaca style deposit, with potential for both near surface oxides and sulphides at depth. “Based on the success of this program, we will look to prioritise the drilling of the Cindy Target, potentially mobilizing additional rigs to drill this target as soon as possible.”
Surface Geochemical Sampling and Reconnaissance Geology
The Cindy Target is located approximately 5km to the north of the MOD, and 2km to the north of the Mercedes Target (refer to release 9 December 2020) and was initially also identified as a large-scale magnetic anomaly, which has many characteristics in common with the MOD (refer to release 23 September 2020) including its structural orientation and size.
The magnetic anomaly is adjacent to the important, regionally extensive, Naguayn Fault System, dips at a similar orientation to the magnetic anomaly at Marimaca and is also coincident with historical high-grade artisanal, underground, copper workings.
The Company has completed a rock geochemistry survey on a 50 metre by 50 metre grid as well as completing geological mapping and reconnaissance over the same surface area. This defined a large-scale anomaly, exceeding 200pm Cu, which extends over a north-south strike of approximately 1km.
Figure 1: Map Showing the Area of Interest and Geochemical Anomaly Relative to the Magnetic Anomaly - https://www.globenewswire.com/NewsRoom/AttachmentNg/80ef5cff-3672-4b4e-858c-eab6ff36c3a7
Mapping and reconnaissance of the historical underground workings was also completed, highlighting the presence of high-grade magnetite chalcopyrite mineralization and providing valuable information regarding the mineralizing structures and the depth of oxidation for the Cindy Target area.
Key features noted were similar host rocks (a strongly fractured monzodiorite) and structures to those observed at Marimaca. In particular, north-south striking, east dipping, parallel sheeted fracturing intruded by various dykes and crosscut by late stage faulting on a west north west orientation. The copper mineralization includes chalcopyrite, brochantite, chrysocolla and atacamite, which are the key copper minerals at the MOD.
Figure 2: Locations of Ore Grade Samples at Cindy Target - https://www.globenewswire.com/NewsRoom/AttachmentNg/84687afa-7f53-4e92-b4ef-ccd854dc5df1
While several samples were high grade, including 2.9% at the historical workings and 0.9% Cu approximately 500m to the south of the workings, the Cindy Target has much lower levels of exposure and, as with Mercedes, large portions of it appear to be covered by post mineralization gravels. This indicates that the mineralizing system could be significantly larger than the geochemical footprint indicates.