Infill Drilling Extends Copper Oxide Mineralization At The MOD

VANCOUVER - Marimaca Copper Corp. reported results from the first seven (7) reverse circulation (RC) drill holes, totaling 2,150m, from the 2022 infill drilling campaign at the Marimaca Oxide Deposit (“MOD”). The first drill holes were completed in the south-eastern area of the MOD in an area previously considered to be on the margin of the near-surface oxide copper mineralization.

The drilling intersected broad zones of near-surface green copper oxide mineralization in six out of seven holes. Importantly, several zones appear to be extensional to the existing Mineral Resource Estimate (MRE) (released December 2019) for the MOD, and the interpretation of the new mineralized intersections indicates that the MOD remains open at depth and to the south-east, indicating potential upside with ongoing drilling in this area.

Sergio Rivera, VP Exploration, said, “The first seven drill holes were aimed at infilling an area in the south-eastern corner of the MOD that was interpreted in previous as lower grade material and was considered to mark the limits of copper oxide mineralization. We were pleasantly surprised with the results, which show significant mineralization in nearly all of these holes. There are two important takeaways from today’s results: firstly, there remains potential resource upside at the MOD, demonstrated by the first holes from the infill program, where several intersections had grades well above those interpreted in the 2019 MRE. Secondly, the results provide confirmation that the MOD remains open to the south-east towards the Sierra Target and at depth. The Sierra Target was hypothesized as an extension of the MOD and these results support that conclusion, which provides an exciting opportunity for further resource growth. The infill program will now progress north towards the central part of the MOD targeting conversion of our existing Inferred Resources to Measured and Indicated categories.”

Marimaca’s 2022 drilling campaign consists of 22,500m of planned infill drilling of the MOD and an additional 10,000m of drilling of the MAMIX zone, the depth extension of the MOD (see press releases dated February 9, 2022 and January 20, 2022). Both programs will support an updated Mineral Resource Estimate (“MRE”) planned for early Q3 2022. The 2022 programs are aimed at converting the MOD’s existing Inferred Resource to Measured and Indicated categories, as well as resource growth through infill drilling of the MAMIX discovery made in 2021.