MARI NEWS - new high grade sulphide extension discoveredHi all,
Forwarding from the same source.
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Hello, Yesterday Marimaca Copper announced the discovery of a new high grade sulphide extension to the existing copper oxide orebody. The hole concerned returned
240m @ 1.01% CuT. Within this result, immediately east of the existing Marimaca Oxide Deposit (MOD) planned pit wall, the new sulphide extension returned
120m @ 1.65% CuT (including 92m @ 2.11% CuT). For the full announcement please
click here.
A few details :
- For a while the management had hoped to find sulphide extensions to the known oxides resources. However in many ways this discovery was unexpected, as this hole was drilled to gather geological information for the planned eastern-pit wall of the MOD open pit. It is worth noting that the discovery does coincide neatly with the magnetic high identified in the 2019/2020 geophysical surveys (see cross section below). The tilting of the ore body is believed to be a post-mineral event, hence the sulphide feeders are located below and to the east of the MOD. The results indicate the possibility of a layer of high grade sulphide feeder structures located directly below the oxidized blanket.
Summary thoughts - this is undoubtedly a spectulary discovery, however I would expect the management will be very mindful not to let it distract them from moving the oxide resource through permitting and towards production. In the MOD Marimaca have a peer-group-leading development asset that will produce c.50,000 tonnes of copper cathode per annum. With such a jewel in hand, this oxide resource will continue to demand the majority of attention, and drive the majority of value. The task will now be to move the MOD forward, and at the same time continue to develop the Company's understanding of this sulphide discovery. With time, the scale of this sulphide resource could prove very sizable, as would its value to the Company.