Overview
The Marimaca Copper Project is the Company’s flagship project located in Antofagasta, Chile – one of the world’s premier mining jurisdictions.
The Project is rapidly moving forward with it’s sustainable development plan to produce high-quality copper cathode.
At a Glance
Ownership
100% owned by
Marimaca Copper
Target Production Timeline
2028
Stage
Definitive Feasibility Study underway, targeting late 2024
Land package size
~66,000ha
Mineral Resources
The Project has a strong track record of mineral resource growth since discovery in 2016. Over 120,000 metres have been drilled at the Project to date.
Marimaca Copper Corp. 2023 Mineral Resource Estimate (NCL Consulting, L. Oviedo, May 18th 2023)
| Cut-off grade (% CuT) |
Measured | lndicated | Measured + lndicated | lnferred | ||||||||
| Quantlty kt | CuT («) | CuS («) | Quantlty kt | CuT («) | CuS («) | Quantlty kt | CuT (%) | CuS («) | Quantlty kt | CuT (%) | CuS («) | |
| 0.40 | 44.0 | 0.77 | 0.44 | 37.5 | 0.69 | 0.38 | 81.6 | 0.73 | 0.41 | 12.1 | 0.64 | 0.24 |
| 0.30 | 60.2 | 0.65 | 0.38 | 55.5 | 0.58 | 0.31 | 115.7 | 0.62 | 0.35 | 18.8 | 0.54 | 0.21 |
| 0.22 | 77.8 | 0.56 | 0.32 | 77.0 | 0.49 | 0.26 | 154.9 | 0.53 | 0.29 | 27.2 | 0.45 | 0.18 |
| 0.20 | 83.0 | 0.54 | 0.31 | 83.8 | 0.47 | 0.25 | 166.8 | 0.50 | 0.28 | 30.2 | 0.43 | 0.17 |
| 0.18 | 88.3 | 0.52 | 0.30 | 91.3 | 0.44 | 0.23 | 179.6 | 0.48 | 0.26 | 33.0 | 0.41 | 0.16 |
| 0.15 | 97.0 | 0.49 | 0.28 | 103.4 | 0.41 | 0.21 | 200.3 | 0.45 | 0.24 | 37.3 | 0.38 | 0.15 |
| 0.10 | 113.3 | 0.44 | 0.24 | 127.6 | 0.36 | 0.18 | 241.0 | 0.39 | 0.21 | 46.6 | 0.33 | 0.13 |
| 0.00 | 146.1 | 0.35 | 0.19 | 178.2 | 0.27 | 0.14 | 324.3 | 0.31 | 0.16 | 72.0 | 0.24 | 0.09 |
* Pit shell constrained resources with demonstrated reasonable prospects for eventual economic extraction (RPEEE) are generated using series of Lerchs-Grossmann pit shell optimizations completed by NCL.
* CuT means total copper and CuS means acid soluble copper. Technical and economic parameters include: copper price US$4.00/lb; base mining cost of US$1.51/t with a mining cost adjustment factor of US$0.04/t-10m bench; Heap Leach “HL” processing cost US$5.94/t (incl. G&A); Run-of-Mine “ROM” processing cost US$1.65/t (incl. G&A); SX-EW processing cost and selling cost US$0.16/lb Cu; heap leach recovery 76% of CuT; ROM recovery 40% of CuT; and 42°-52° pit slope angle.
* Mineral resources which are not mineral reserves do not have demonstrated economic viability. Due to the uncertainty which may attach to inferred mineral resources, it cannot be assumed that all or any part of an inferred mineral resource will be upgraded to an indicated or measured mineral resource as a result of continued exploration.
The Mining Project of the Future
Focusing on the development of a sustainable green-copper mine
For more information please visit Marimaca’s Sustainability Page.
Location and Infrastructure
Marimaca is located in the prolific mining region of Antofagasta, Chile. Excellent access to key regional infrastructure delivers a strong execution risk profile for the Project.
Marimaca Oxide Deposit
Overview Location & access to infrastructure/utilities deliver lower
execution risk
Close proximity to first class utilities and infrastructure
• Water
• Power
• Transport
• Communications
Land predominantly
government owned or controlled
• No local land owner negotiations
Within 25km of Port of Mejillones
• One of the primary import ports for H2SO4 to Chile
• Access to skilled workforce
Within 40km of Antofagasta
• Major regional center
• No requirement for site accommodation / housing
• Airport with good connections
Geology
The Marimaca Deposit is an IOCG-type deposit hosted in the Chiliean Coastal Cordillera. The Coastal Cordillera is dominated by the occurrence of Cu-Ag “manto-type” and IOGC type deposits.
The dominant rock types at Marimaca are intrusives from the “Naguayán Plutonic Complex” defined by Cortes et al. (2007). In Marimaca, the country rock is an equigranular to porphyritic monzodiorite intruded by a Dyke Swarm System consisting of various bimodal dyke episodes ranging in composition from gabbro to rhyodacite oriented NS to NE, NW and WNW and dipping 45-50° to 60-75° towards east and south-east.
The main Naguayán’ structural fabric, consists of a NS to NNE oriented sheeted-like fractures zone, including faults and dykes, controls the mineralization at Marimaca and can be observed for kilometers beyond the project area limits. Intense, extensive and pervasive events of supergene oxidation have produced the actual copper oxide blanket that forms the mineral deposit at Marimaca. The surface data show that the copper oxides are controlled by a very strongly fractured host rock creating a high permeability background generated by the superposition of several events of fracturing and dikes intrusions. The oxidation resulted from the alteration of a previous secondary sulfide enriched blanket that produces zonation from brochantite-atacamite at cores immediately surrounding the secondary sulfides remnant patches and successive external haloes of predominant chrysocolla and further external wad.
As compared with other deposits of the belt, Marimaca is fully hosted by intrusive, rock units that become extremely permeable thanks to intense fracturing.
Exploration
Marimaca believes there is strong sulphide potential associated with the well-defined oxide deposit of the Project. Down-dip drilling, from the oxides, has indicated strong chalcopyrite-dominated mineralization which Marimaca intends to explore further in the future.
In addition to the sulphide potential, the deposit remains open to the north and south and at depth. Multiple near surface oxide exploration targets have been identified close within close proximity to the Project, and there is also the potential to add near term tonnes to the current mine life. Furthermore, the Handing Wall Alteration (HWA) zone is regionally pervasive, with extension identified more than 10km across the project area, which boasts strong association with copper mineralization.
On a district scale, the structural conduits at the Marimaca Copper Project are regionally extensive. The region is believed to be prospective for additional IOCG and mantos-style deposits. All targets are adjacent to key regional structures which are believed to control mineralization at the Marimaca Copper Project and the regional structure is identified over 25km.
The Company also has interests in the nearby Sierra Medina claims, which have wider exploration potential.