MARI Copper - news last week, IP, additional oxide target ..I got this from the same contact. Thought it worth a share.
B
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Hello,
Last week Marimaca Copper announced the results of an induced polarization (IP) survey it had conducted over their Mercedes and Cindy Targets.
Click here for the full announcement.
I believe these results point to the real possibility of further copper oxide material being discovered. This is hugely exciting. Let me explain why :
- The Company has the belief that the Marimaca deposit could be merely the first of a greater cluster. The Cindy and Mercedes Targets are the first of this wider cluster to be systematically mapped and analysed ... first with the geochemical work at surface, and now with the IP work looking into the sub-surface.
- The results of the IP survey highlight the possibility for both additional sulphide and oxide mineralisation at scale (the sulphides through the "extensive high chargeability anomalies", and the oxides via "resistivity lows").
- The discovery of any additional copper bearing mineralisations would be positive. HOWEVER I firmly believe that it is the potential for additional oxide mineralisation that is by far the most exciting and important.
- The preliminary economic assessment (PEA) released last year definitely proved the high intrinsic value of copper oxide ore in this particular location.
- Sulphide mineralisation, by its nature, would sit deeper in the system, therefore take longer to extract, and also require a different processing route from the material discovered to date.
- If more copper oxides are discovered, this material will be brought directly into the Company's nearterm production models, and this would create immediate market value.
Summary - drilling is underway on the sulphide mineralisation underneath the initial Marimaca oxide deposit. After this the Company will start drilling Cindy and Mercedes, the next two targets in this wider cluster. The IP results look very encouraging. Sulphide mineralisation would be great, but oxides would be even better. Keep an eye on the oxides.
P.S. Also, to finish, I thought Canaccord's take on last week's IP news was bang on the mark:
- " The extensive similarities of (Cindy and Mercedes) to the main Marimaca deposit continue to emerge, further reinforcing our view of the project as ultimately a camp feeding central processing facilities. The potential emergence of both oxide and sulphide mineralization could be a game-changer for the evolution of MARI, and we look forward to follow-up drilling. Finally, we note that the emerging scale of the project and its early stage (and valuation) makes the company an attractive target, in our view, for mid-tier producers in the current copper pricing environment. "