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Pampa Medina Sulphide Drilling Intersects 16m of 5.70% Cu and 62.6 g/t Ag including 4m of 11.32% Cu and 144.0 g/t Ag in Significant Extension of UHG Bornite ZoneJune 8, 2026 8:45 AM
ACCESS NewswireVANCOUVER, BC / ACCESS Newswire / June 8, 2026 / Marimaca Copper Corp. ("Marimaca Copper" or the "Company") (TSX:MARI)(ASX:MC2) is pleased to report additional assay results from its ongoing drilling program at the Pampa Medina deposit, located at low altitude approximately 28km east of the Company's Marimaca Oxide Deposit ("MOD") (Figure 1) in Antofagasta Region, Chile. Drilling completed on 150m centres continues to demonstrate continuity of ultra-high-grade copper-silver mineralization across the central zone of the Pampa Medina deposit, with SPRD-05 intersecting 96m at 1.19% Cu and 11.7g/t Ag, including 16m at 5.70% Cu and 62.6g/t Ag and 4m at 11.32% Cu and 144g.0/t Ag. The sediment-hosted system is demonstrating strong lateral continuity across the initially defined 3km x 1.5km area of interest ("AOI"), reinforcing the significant scale of the deposit.High-grade sulphide mantos show strong lateral continuity across the defined AOI, with 150m-spaced delineation drillholes continuing to intersect high grades (>2% Cu) over significant widths in dominantly bornite and chalcociteSPRD-05 - drilled east of previously released hole SPRD-06 - intersected the ultra-high grade (UHG) bornite manto at depth in sediments and tuffs96m of 1.19% Cu and 11.7g/t Ag from 692m (sulphide), including60m of 1.80% Cu and 18.4g/t Ag from 694m, including16m of 5.70% Cu and 62.6g/t Ag from 704m, including4m of 11.32% Cu and 144.0g/t Ag from 706mDetails of lithology and grade across the broader intersection are shown in Figure 6Represents one of the strongest bornite-mineralized manto intersections to date at Pampa MedinaNear surface oxide mineralization also intersected in volcanics and sediments north of the historic Pampa oxide footprint22m of 0.40% Cu and 1.9g/t Ag from 60m (oxide)24m of 0.30% Cu and 1.8g/t Ag from 204m (oxideSPRD-05 was drilled approximately 650m northwest of SMRD-13 which also intersected the UHG bornite zone at depth (see announcement dated July 3 rd , 2025)SPRD-04 - drilled 150m north of previously released SMRD-13 and ~600m east of SPRD-05 - intersected broad mineralization across sediments and tuffs22m of 1.97% Cu and 9.2g/t Ag from 610m (sulphide)Shallower intersection of 140m of 0.35% Cu from 366m including higher-grade stacked mantos32m of 0.71% Cu and 4.1 g/t Ag from 468m (mixed), including10m of 0.95% Cu and 7.4g/t Ag from 484m (mixed)The Company is also completing target-generation geochemical and geophysical programs across the broader Sierra Medina land package, focusing on the Sierra Norte and Pampa Norte areas (see Figure 2)Focus of these programs is identifying continuations of the favourable, mineralized sedimentary units across the broader interpreted sedimentary basinA 400m audio-magnetotelluric (AMT) grid has been completed across the Pampa Norte area, with a higher-resolution 200m grid completed at Sierra NorteResults and interpretations will be released in due courseSergio Rivera, VP Exploration of Marimaca Copper, commented:"Results from the 2026 drilling program at Pampa Medina continue to demonstrate the incredible grade and thickness of the mantos at Pampa Medina, which remains open in almost all directions. We are pleased to see that drilling on 150m spacing continues to demonstrate continuity of the high-grade copper and silver mineralization, often across multiple stacked horizons, with SPRD-05 intersecting one of the highest-grade mantos we have seen to date (Figure 5).We have always said that continuity will be the maker of the Pampa Medina deposit, and our drilling completed to date gives us confidence that we are dealing with a deposit of genuine district significance.""We are completing a 150m-spaced campaign across the defined initial AOI, after which we will cut off input data for an initial Mineral Resource Estimate (MRE). This maiden MRE will represent a snapshot in time, as following completion of the delineation campaign, we will begin the broader step-out program to the distal northern and western targets in parallel with initial resource work. The consistency of high-grade intersections gives us increasing confidence that the central AOI can support a strong mineral endowment while remaining open for expansion."Overview of Pampa MedinaPampa Medina is a manto-style copper deposit dominantly hosted in Jurassic-Triassic sedimentary units (sandstones, conglomerates, tuffs and black shales) overlain by andesitic volcanics and underlain by an Upper Paleozoic complex of metamorphosed sediments, volcanics and intrusions. Key lithological units are intruded by a dyke swarm and affected by post mineral normal faulting. Copper was originally identified in near-surface oxide mineralization dominated by atacamite, chrysocolla and both secondary chalcocite, and has now been identified in high-grade zones of bornite, chalcopyrite, covellite and chalcocite which extend at depth beyond the oxide-primary transition. Elevated silver grades are present in both oxide and sulphide copper-mineralized zones and are generally correlated with copper grade.Following Marimaca's consolidation of the project area and surrounding land packages in 2024, the Company reinterpreted all available geological information and developed an updated geological model for Pampa Medina, which identified the lower sedimentary units of interbedded sandstones, shales, tuffs and conglomerates as the priority target horizons for future drilling. Marimaca's 2026 drilling campaign will focus on three priority goals: definition of the high-grade central AOI, delineating the identified oxide extensions, and further step-out drilling to test potential extensions of the broader system identified in geophysical work completed to date.Figure 1: Regional Map - Marimaca, Pampa Medina and Regional Infrastructure Figure 2: Pampa Medina within Broader 100%-owned Sierra de Medina Property Block Figure 3. Current Drilling Results within Pampa Medina Area of Interest (AOI) Figure 4. Current Drilling Results and Drilling to Date within Pampa Medina Area of Interest (AOI) Figure 5 - Cross Section Looking North - Pampa Medina 7,440,950 N Figure 6 - SPRD-05 Downhole Lithological and Grade Sequence Figure 7 - SPRD-04 Downhole Lithological and Grade Sequence HoleTotal Depth (m) From (m)To (m)Intersection (m)% CuTg/t AgSPRD-04732 7686100.35- 3667203540.30-Including3665061400.35-Including468500320.714.1Including484494100.957.4And610632221.979.2SPRD-05836 6082220.401.9 204228240.301.8 6928241320.938.6Including692788961.1911.7Including694754601.8018.4Including704720165.7062.6Including706710411.32144.0Table 1: Table of IntersectionsHoleEastingNorthingElevationAzimuthInclinationDepthSPRD-04407402.947440953.061268.16270-60732SPRD-05406796.257440950.991274.79270-60836Table 2: Drill CollarsSampling and Assay ProtocolsTrue widths are estimated as 80% of reported intervals, based on down-hole bedding and structural measurements. DDH holes were sampled on a 2m continuous basis, halved by a conventional core splitter on site with one half sent to the Andes Analytical Assay preparation laboratory in Copiapó and the pulps then sent to the same company laboratory in Santiago for assaying. Samples were prepared using the following standard protocol: drying; crushing all sample to -1/4" and passing through a secondary crusher to better than 80% passing -10#; homogenizing; splitting; pulverizing a 400-600g subsample to 95% passing -150#; and a 125g split of this sent for assaying. All samples were assayed for sequential copper %CuT (total copper); %CuS (acid soluble copper), %CuCN (cyanide soluble copper) and CuRes (residual copper), In addition to copper analyses, multi-element analysis including silver (Ag) was undertaken using ICP (multi-element Optical Inductively Coupled Plasma). A full QA/QC program, involving insertion of appropriate blanks, standards and duplicates was employed with acceptable results. Pulps and sample rejects are stored by Marimaca Copper for future reference.Qualified Person / Competent PersonThe technical information in this news release, including the information that relates to geology, drilling and mineralization was prepared under the supervision of, or has been reviewed by Sergio Rivera, Vice President of Exploration, Marimaca Copper Corp, a geologist with more than 40 years of experience and a member of the Colegio de Geólogos de Chile and of the Institute of Mining Engineers of Chile, and who is the Qualified Person for the purposes of NI 43-101 responsible for the design and execution of the drilling program.The information in this announcement which relates to exploration results for the Pampa Medina Project is based on, and fairly reflects, information and supporting documentation prepared by Sergio Rivera, VP Exploration of Marimaca, a Competent Person who is a member of the Comision Minera (Chilean Mining Commission), Colegio de Geólogos de Chile and of the Institute of Mining Engineers of Chile. Mr. Rivera has sufficient experience that is relevant to the style of mineralisation and types of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Rivera consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.Contact Information
For further information please visit www.marimaca.com or contact:Tavistock
+44 (0) 207 920 3150Emily Moss
marimaca@tavistock.co.ukForward Looking StatementsThis news release includes certain "forward-looking statements" under (without limitation) applicable Canadian securities legislation, including, without limitation, statements regarding the development of activities at Pampa Medina, the potential growth of Pampa Medina, and the discovery's potential to complement the MOD. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Marimaca Copper, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks that the development activities at Pampa Medina will not progress as anticipated, or at all, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project delays or cost overruns or unanticipated excessive operating costs and expenses, uncertainties related to the necessity of financing, uncertainties relating to regulatory procedure and timing for permitting submissions and reviews, the availability of and costs of financing needed in the future as well as those factors disclosed in the annual information form of the Company dated March 27, 2025 and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed at www.sedar.com). Readers should not place undue reliance on forward-looking statements. Marimaca Copper undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.None of the TSX, ASX or the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this release.This announcement was authorised for release to the ASX by the Board of Directors of the Company. Appendix 1 - JORC Code 2012 Table 1 (ASX Listing Rule 5.7.1)Section 1 Sampling Techniques and DataCriteriaJORC Code explanationCommentarySampling techniquesNature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.Aspects of the determination of mineralisation that are Material to the Public Report.In cases where ‘industry standard' work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.All current drilling conducted at Sierra Medina, which includes the Pampa Medina deposit, was completed under the supervision of a registered professional geologist as a Competent Person/Qualified Person (QP) who is responsible and accountable for the planning, execution, and supervision of all exploration activity as well as the implementation of quality assurance programs and reporting.Drilling reported is Reverse Circulation "RC" collared and Diamond ("DDH") tailed drillingAssay samples were prepared at a laboratory site in Copiapó and assayed by Andes Analytical Assay Ltd. (AAA) in Santiago.Sierra Medina´s DDH holes are drilled and sampled on a continuous 2-meter basis, halved by a conventional core splitter on site, with one half sent to the Andes Analytical Assay preparation laboratory in Copiapó and the pulps then sent to the same company laboratory in Santiago for assaying.Sierra Medina RC holes are drilled and sampled on a continuous 2-meter basis and riffle split on site up to one-eighth (12.5%) of its volume, after which samples are sent for preparation and assaying.Marimaca staff supervised all the drilling and sampling.DD recoveries were controlled by accurate core recovery measurement control was extended toward the division process realized in the drill location.DD recoveries were measured by core length measurement and compared with the effective core run. Marimaca technical staff checked all data.Measured recoveries are over 95% for DDH drilling, without significant variations and unrelated to copper grades.RC recoveries were controlled by weighing samples and accurate control was extended toward the division process realized in the drill location.RC recoveries were measured in weight percent as compared with a theoretical sample weight. Marimaca technical staff checked all data.Measured recoveries are over 95% for RC drilling, without significant variations and unrelated to copper grades.Drilling techniquesDrill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).Drilling reported RC collared and DDH-tailed drilling, DDH drilling commenced when the contact between the upper volcanics and upper sediments is encountered, which is variable in depthDDH drilling is drilled in HQ and NQ standard core diametersDrill sample recoveryMethod of recording and assessing core and chip sample recoveries and results assessed.Measures taken to maximise sample recovery and ensure representative nature of the samples.Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.Sierra Medina´s DDH holes are drilled and sampled on a continuous 2-meter basis, halved by a conventional core splitter on site, with one half sent to the Andes Analytical Assay preparation laboratory in Copiapó and the pulps then sent to the same company laboratory in Santiago for assaying.Sierra Medina RC holes are drilled and sampled on a continuous 2-meter basis and riffle split on site up to one-eighth (12.5%) of its volume, after which samples are sent for preparation and assaying.Marimaca staff supervised all the drilling and sampling.DD recoveries were controlled by accurate core recovery measurement control was extended toward the division process realized in the drill location.DD recoveries were measured by core length measurement and compared with the effective core run. Marimaca technical staff checked all data.RC recoveries were controlled by weighing samples and accurate control was extended toward the division process realized in the drill location.RC recoveries were measured in weight percent as compared with a theoretical sample weight. Marimaca technical staff checked all data.Measured recoveries are over 95% for RC drilling, without significant variations and unrelated to copper grades.LoggingWhether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.The total length and percentage of the relevant intersections logged.All holes were geologically logged on digital data capture.The data collected are rock, structure, alteration and mineralization based on drilling intervals, recoveries and analytical results.After validation, the mineral and alteration zones were defined.The results were entered in the database as a table with all mapped data and a consolidated log of the drill was prepared.Most of this work was done by experienced senior consultant geologist supported by consultant junior geologist.In addition to measuring deviations, most of the holes were surveyed using an optical tele viewer (OPTV or BHTV), with structures and orientation measurements, which continuously and thoroughly recorded the holes' walls and measured structures.The structures were measured in ranks according to their width and the results were reported and plotted on stereographic networks and rosette diagrams.Sub-sampling techniques and sample preparationIf core, whether cut or sawn and whether quarter, half or all core taken.If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.For all sample types, the nature, quality and appropriateness of the sample preparation technique.Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.Whether sample sizes are appropriate to the grain size of the material being sampled.Sierra Medina´s DDH holes are drilled and sampled on a continuous 2-meter basis, halved by a conventional core splitter on site, with one half sent to the Andes Analytical Assay preparation laboratory in Copiapó and the pulps then sent to the same company laboratory in Santiago for assayingThe last split yields "sample A", which is sent for preparation and assaying, and "sample B", which is used to obtain drill cuttings (1 kg) and coarse/preparation duplicates and then stored in special facilities on site.DDH samples are obtained every 2 meters from a half-core, with the other half stored on site.RC holes are drilled and sampled on a continuous 2-meter basis and its samples riffle split on site three times, up to one eighth (12.5%) of its volume.The last split yields "sample A", which is sent for preparation and assaying, and "sample B", which is used to obtain drill cuttings (1 kg) and coarse/preparation duplicates, and then stored in special facilities on site.Samples are transferred by laboratory personnel from the project to Copiapó, and then the preparation pulps are returned to generate the analysis batches. Upon receipt, sample details are logged and insertion points for quality control samples in the sample flow are determined.Samples were prepared using the following standard protocol: drying; crushing all sample to -1/4" and passing through a secondary crusher to better than 80% passing -10#; homogenizing; splitting; pulverizing a 400-600g subsample to 95% passing -150#; and a 125g split of this sent for assaying. All samples were assayed for sequential copper %CuT (total copper); %CuS (acid soluble copper), %CuCN (cyanide soluble copper) and CuRes (residual copper), and multi-element Optical Inductively Coupled Plasma (ICP).. A full QA/QC program, involving insertion of appropriate blanks, standards and duplicates was employed with acceptable results. Pulps and sample rejects are stored by Marimaca Copper for futureLaboratory results are loaded directly from digital assay certificates into the database, in order to minimize error sources.Quality of assay data and laboratory testsThe nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.Samples are prepared at a laboratory site in Copiapó and assayed by Andes Analytical Assay Ltd. (AAA) in Santiago.Samples were prepared using the following standard protocol: drying; crushing all sample to -1/4" and passing through a secondary crusher to better than 80% passing -10#; homogenizing; splitting; pulverizing a 400-600g subsample to 95% passing -150#; and a 125g split of this sent for assaying. All samples were assayed for %CuT (total copper); %CuS (acid soluble copper). A full QA/QC program, involving insertion of appropriate blanks, standards and duplicates was employed with acceptable results. Pulps and sample rejects are stored by Marimaca Copper for future. In addition to copper analyses, multi-element analysis including silver (Ag) was undertaken using ICP.All samples were assayed for sequential copper %CuT (total copper); %CuS (acid soluble copper), %CuCN (cyanide soluble copper) and CuRes (residual copper). Silver and an additional 33 elements were analysed using a 0.5g pulp sample and measured by optical ICP.Laboratory results are loaded directly from digital assay certificates into the database, in order to minimize error sources.The analytical quality control programs implemented at Marimaca involve the use of coarse/preparation and pulp duplicates for precision analyses and standard reference materials (SRM). QA/QC procedures apply equally to silver and the multi-element suite.Marimaca has protocols in place for handling analytical results that exceed acceptable limits, which can ultimately trigger re-assays of entire or portions of sample batches.Verification of sampling and assayingThe verification of significant intersections by either independent or alternative company personnel.The use of twinned holes.Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.Discuss any adjustment to assay data.There are no twinned holes in the datasetAll logging data was completed, and logging data was entered directly into the deposit database.Laboratory results are loaded directly from digital assay certificates into the database to minimize error sources.Location of data pointsAccuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.Specification of the grid system used.Quality and adequacy of topographic control.Local contractors carried out the supervision of the drilling operation.An experienced topographer surveyed the collars.WGS84 UTM coordinates are used.Data Well Services carried out the downhole surveys for drill holes.Data collected is considered adequate for eventual use in mineral resource estimation.Data spacing and distributionData spacing for reporting of Exploration Results.Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.Whether sample compositing has been applied.Due to the nature of mineralisation and the type of exploration discovery drilling program the hole spacing is highly variable.Data spacing is not considered sufficient to establish geological and grade continuities for Mineral Resource Estimation at the Inferred and Indicated category.No sample compositing was applied.Orientation of data in relation to geological structureWhether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.Drill hole orientation was generally oriented to be sub perpendicular to the mineralisation but variable in places given the nature of the exploration program being conductedAssays are reported on a downhole basisTrue widths are estimated as 80% of reported downhole intersection widthsSample securityThe measures taken to ensure sample security.All drilling assay samples are collected by company personnel or under the direct supervision of company personnel.Samples from Marimaca were initially processed at the project site and shipped directly from the property to a laboratory facility for final preparation, and later, upon their return, to the laboratory for analysis.Appropriately qualified staff at the laboratories collect assay samples.Security protocols implemented maintain the chain of custody of samples to prevent unnoticed contamination or mixing of samples and to make active tampering as difficult as possible.Audits or reviewsThe results of any audits or reviews of sampling techniques and data.It is the Competent Persons opinion that these processes met acceptable industry standards, and that the information can be reported under both JORC and NI43-101 standards and, in the future, be used for geological and resource modelling.Section 2: Reporting of Exploration ResultsCriteriaJORC Code explanationCommentaryMineral tenement and land tenure statusType, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.Marimaca Copper Corp. owns a tenement package consisting of approximately 14,500 hectares at the broader Sierra de Medina project area and are a mix of mining concessions and exploration concessions.The Sierra de Medina Project are comprising 55 concessions owned by ICAL, a subsidiary of Marimaca Copper Corp.The Pampa Medina Project comprises 12 concessions owned by SCM Elenita over which the Company entered into an option agreement to acquire.The Madrugador Project comprises 10 concessions owned by SLM Juanita and SLM Madrugador over which the Company entered into an option agreement to acquire.There are no known impediments to operating exploration drilling campaigns on the project areas.Exploration done by other partiesAcknowledgment and appraisal of exploration by other parties.1. Pampa Medina ConcessionsBetween 1993 and 1996, Compañía Minera Doña Isabel and Rayrock Ltda carried out an extensive exploration program. The program included a geochemistry program with short Track Drill wells spaced every 50 m along several E-W lines between 2 km and 5 km in length, which extend throughout the district, covering the southeastern part of the Pampa concessions in an area of approximately 460 ha. The aim was to evaluate the rock below the caliche layer. In this area, approximately 600 samples were obtained, representing 40% of the total samples extracted throughout the district, of which 2% of the total have copper anomalies.For 2003 and 2004, the right to exploit the Pampa 81 (1/20 and 21/40) and Pampa 47 (1/20 and 21/40) concessions by Minera Rayrock Ltda was established.In 2008, Rayrock Ltda carried out two RC drilling campaigns. The first involved 15,729 m distributed in 38 holes with an approximate mesh of 500 m × 500 m and the second campaign involved 14,913 m in 35 holes with a mesh of 125 m ×125 m in an area of 1,000 × 350 m, recognising mainly copper oxides, with some mixed intervals and small amounts of primary mineralisation.An exploration campaign was subsequently carried out in 2013, consisting of 45 diamond holes for a total of 18,707 m drilled.During 2014, Rayrock Ltda continued with the latest exploration campaign, with the completion of 17 diamond drill holes for a total of 5,264 m drilled.2. Madrugador ConcessionsThe Madrugador concessions were previously the subject of limited exploration efforts since the 1980s. Most of the exploration on the Madrugador concessions was conducted by Rayrock from 1993 to 1996 and consisted of diamond and reverse circulation drilling. A total of 23,502 m of diamond and RC drilling in 223 holes had been completed on the property prior to 2005. Proyecta, a Chilean engineering company, conducted a short track RC drilling program on the Madrugador claim in 2005.During the period 1994 to 1999, Rayrock conducted geological mapping of the property, a stream sediment and soil/road-cut sampling survey, as well as limited diamond drilling.In 2007 and 2008, Apoquindo Minerals Inc. (Apoquindo) completed 21,177 m of RC drilling in 132 holes and 1,206 m of diamond drilling in eight holes.In April 2009, Apoquindo entered into a JV agreement with Minera S.A.GeologyDeposit type, geological setting and style of mineralisation.The Pampa Medina mining district is characterised by Jurassic_Triassic volcanic and sediment hosted manto type copper mineralization. Characteristics volcanic hosted, such as shallow Madrugador mineralization, resembles the typical Coastal Belt copper style mineralization and the sediment hosted style is exposed at old mine workings along the Sierra de Valenzuela District and at deep drilling below covered areas extending around where the host sediments are covered by volcanics.Main structural system are a block faulting and a complex of dyke swarm.The copper mineralisation observed in the drill holes comprises both oxides and sulphides. The predominant oxides correspond to atacamite, azurite and chrysocolla. The oxide zone thickness varies between few metres up to more than 200 m, and irregular mixed zone characterised by a mixture of green copper oxides (mainly atacamite) and copper sulphides (mostly chalcocite, and less chalcopyrite and pyrite). At depths of more than 300m primary mineralization was observed and consist of chalcopyrite, bornite and variable covellite and pyrite.Rock alteration is mostly albitization of sediments and little clay is observed in the upper oxidized zones.Drill hole InformationA summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:easting and northing of the drill hole collarelevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collardip and azimuth of the holedown hole length and interception depthhole length.If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.Drill hole attribute information is included in a table herein.Data aggregation methodsIn reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.The assumptions used for any reporting of metal equivalent values should be clearly stated.Length weighted averages were used to calculate grade over width.No specific grade cap or cut-off was used during grade width calculations. The total copper (CuT) weighted average grade of the entire interval is calculated for all intervals over 2m samples lengths. Manto-type deposits can be variable in nature resulting in some intervals having a small number of poorly mineralized samples (
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Marimaca Provides Positive Progress Update on the MOD and Sulphuric Acid StrategyMay 19, 2026 4:10 PM
ACCESS NewswireVANCOUVER, BC / ACCESS Newswire / May 19, 2026 / Marimaca Copper Corp. ("Marimaca Copper" or the "Company") (TSX:MARI)(ASX:MC2) is pleased to provide an update on permitting and development activities at the Marimaca Oxide Deposit (the "MOD" or the "Project"). The Company continues to advance the project toward a Final Investment Decision ("FID") with critical path items remaining on schedule in 2026.Key UpdatesSectorial PermittingFollowing receipt of the MOD Environmental Approval (the "RCA") in November 2025, Marimaca completed the scheduled submission of the Project's critical Sectorial Permits to the Servicio Nacional de Geología y Minería ("SERNAGEOMIN") in April 2026.The submitted permits include the Closure Plan, Open Pit Mining Method and several additional approvals required for the construction of core project infrastructure, including the crushing plant, leaching pads, and waste and ripios storage facilities.Submissions were completed on schedule in April, with approvals expected in Q4 2026. Receipt of these approvals represents a major development milestone for the MOD and would permit the full commencement of all pre-FID construction activities.The Company will continue advancing and submitting the remaining Sectorial Permits required to support the timely development and execution of the MOD.Electrical ConnectionOn May 13th, 2026, Marimaca was granted its electrical connection authorization by the National Electric Coordinator ("CEN"), to the 110kv El Lince Line, located approximately 13 km from the MOD Project Area.The connection authorization is now under a 15-day challenge window, after which the connection authorization will be confirmed.Engineering Tender Packages and Early Site WorksThe tender process for the project's lead Integration Engineer has been formally launched, with invitations issued to a shortlisted group of globally recognized EPCM firms. The selected party will work alongside the Marimaca Owner's Team as part of the integrated project delivery team to support the execution of the MOD.Subsequent detailed engineering tender packages are expected to be released to the shortlisted bidders in the coming weeks.Preparations for early site works are progressing well, with crews expected to mobilize in June to commence upgrades to the site access road, followed by improvements to the primary intersection with the regional B-12 highway.These early infrastructure activities are intended to support efficient site access and enable a rapid ramp-up of full construction activities following receipt of the remaining key permits and approvals.Sulphuric AcidMarimaca has signed a non-binding Memorandum of Understanding ("MOU") with a large-scale sulphuric acid plant operator and supplier in the Mejillones industrial area to explore a framework for a joint-venture to supply the MOD with future sulphuric acid requirements.The MOU contemplates the optimal utilization of Marimaca's previously acquired sulphuric acid plant (see announcement dated August 21, 2025), the Dos Amigos Acid Plant ("PADA Plant"), including the evaluation of the refurbishment, relocation, integration and operation of the PADA Plant in Mejillones.The potential incorporation of self-supplied sulphuric acid through the PADA Plant represents a significant strategic advantage for Marimaca, providing a hedge against volatility in the third-party acid market. By reducing exposure to spot pricing and supply disruptions, the Company expects to lower its acid cost, improve cost predictability and support stronger operating margins over the life of the project, while retaining flexibility to supplement supply from external sources where appropriate and economically favourable to the Project.Self-produced acid in Mejillones would allow the Company to receive acid on a "just-in-time" basis, and would significantly reduce the transport and storage complexity of the MOD's acid supply:There is a substantial logistical and storage advantage associated with shipping and storing elemental sulfur compared to high purity sulfuric acid; andThe Company is evaluating long term elemental sulfur supply channels to further reduce volatility and control the long-term supply chain for an important input cost for the Project.The evaluation phase contemplated under the MOU includes a structured work program over an initial period of up to six months, during which multiple development alternatives will be assessed. Subject to the results of the evaluation and the execution of definitive agreements, the parties may subsequently consider the formation of a joint venture to develop, finance, construct and operate the PADA Plant.Surface RightsMarimaca has secured provisional easements covering all surface rights required for the development of the MOD and its associated infrastructure, as contemplated in the 2025 Definitive Feasibility Study ("DFS").The provisional easements provide the Company with land access certainty across key project infrastructure areas and further support the continued advancement of development activities and project execution planning.Final grant of the easements is expected in Q3 2026, following completion of final rate negotiations with the Chilean Government.Project FinancingMarimaca's independent debt advisor, Endeavour Financial, a leading project finance advisor, has formally commenced its debt financing process and is currently engaged with a broad range of high-quality potential financing partners to support the development and construction of the MOD.The Company will provide further updates to the market in due course, with an intention to announce the final funding strategy for the MOD by Q4 2026.Hayden Locke, CEO, commented:"We have continued to systematically de-risk the MOD across the key workstreams required to support a construction decision. Our permitting, surface rights and engineering progress, and ongoing engagement with project financing stakeholders all represent important milestones as we move steadily toward construction-ready status and a future FID.""In parallel, our evaluation of a potential integrated sulphuric acid solution in the Mejillones Industrial Area has the potential to deliver meaningful strategic and operating benefits to the Project, including lower costs, enhanced supply security, improved logistics and greater protection against acid market volatility. Together, these initiatives continue to strengthen the overall execution readiness and long-term competitiveness of the MOD.""We continue to progress on our three value creation strategies. Advancing the MOD towards FID and along the path to copper production, defining our cathode production growth strategy, through the integrated Pampa Medina Oxide Project, and new discovery with the ongoing drilling campaign at Pampa Medina and the broader Sierra de Medina project area."Contact InformationFor further information please visit www.marimaca.com or contact:Tavistock
+44 (0) 207 920 3150Emily Moss
marimaca@tavistock.co.ukAbout Marimaca Copper:Marimaca is a TSX ("MARI") and ASX ("MC2")-listed copper company focused on the development of high-quality copper assets in northern Chile. The Company's flagship asset is the Marimaca Oxide Deposit Project ("MOD"), located in Chile's prolific Antofagasta region. It is one of the few globally significant greenfield copper discoveries made in the last decade and represents a low-risk development opportunity, given the proximity to the city of Antofagasta and port of Mejillones, with substantial exploration upside. The Company also controls additional exploration properties at Pampa Medina and Madrugador within the Sierra de Medina region, located 30 kilometers from the MOD, where recent drilling has identified both oxide extensions and high-grade sulphide mineralization at depth.Forward Looking StatementsThis news release includes certain "forward-looking statements" under (without limitation) applicable Canadian securities legislation, including, without limitation, the development of activities at the PADA Plant and the MOD. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Marimaca Copper, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks that the development activities at the MOD will not progress as anticipated, or at all, risks related to the PADA Plant development and associated capital costs, risks related to the execution of a formal JV with Noracid (of which there can be no assurance), risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, sulfuric acid prices, elemental sulfur prices, the possibility of project delays or cost overruns or unanticipated excessive operating costs and expenses, uncertainties related to the necessity of financing, uncertainties relating to regulatory procedure and timing for permitting submissions and reviews, the availability of and costs of financing needed in the future as well as those factors disclosed in the annual information form of the Company dated March 31, 2026 and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed at www.sedar.com). Readers should not place undue reliance on forward-looking statements. Marimaca Copper undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.None of the TSX, ASX or the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this release.This announcement was authorised for release to the ASX by the Board of Directors of the Company.SOURCE: Marimaca Copper Corp.View the original press release on ACCESS NewswireOriginal: Marimaca Provides Positive Progress Update on the MOD and Sulphuric Acid Strategy
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Drilling Program at Pampa Medina Continues to Demonstrate Continuity and Scale of Sediment-Hosted Copper SystemMay 19, 2026 6:30 AM
ACCESS NewswireVANCOUVER, BC / ACCESS Newswire / May 19, 2026 / Marimaca Copper Corp. ("Marimaca Copper" or the "Company") (TSX:MARI)(ASX:MC2) is pleased to report new assay results from its ongoing 2026 step-out exploration drilling programs at the Pampa Medina deposit, located at low altitude approximately 28km east of the Company's Marimaca Oxide Deposit ("MOD") (Figure 1). The program includes drilling on 150m intervals to test the continuity between previous 300m scouting holes and continues to demonstrate the exceptional grade and continuity of the high-grade manto-type copper-silver mineralization, across the initial 3km x 1.5km area of interest. Results from the current exploration drilling further validates the consistency of both oxide and sulphide mineralisation across the high-grade central zone. Step-out drilling continues to expand the mineralized sedimentary horizon, with high-grade intercepts reported over 300m from previous drilling in the south-western area of interest (Figure 2).SPRD-06 contains 5 high-grade vertically stacked mantos (each of strong grade-thickness) across a total mineralized package of sediments and tuffs exceeding 400m in thicknessStacking of multiple high-grade mineralized sedimentary units is a key difference between other known sedimentary hosted copper deposits globally (e.g. Kupferschiefer, Kamoa-Kakula)Additional drilling at 150m spacing continues to demonstrate the continuity of the high-grade copper mantos with multiple holes returning high grades over significant thickness (Figure 3)SPRD-06 - drilled between previously released holes SMRD-16 and SMRD-20 on 150m spacing and intersected high-grade mineralization sections hosted in the upper and lower sedimentsBroader intercept of 424m of 0.58% Cu and 2.2g/t Ag from 424m, containing five high-grade, stacked mantos32m of 1.02% Cu and 3.1 g/t Ag from 432m (oxide)8m of 2.54% Cu and 21.0 g/t Ag from 494m within 22m of 1.23% Cu and 11.8 g/t Ag from 492m (mixed)12m of 2.23% Cu and 19.7 g/t Ag from 568m within 22m of 1.53% Cu and 13.6 g/t Ag from 564m (sulphide)10m of 1.38% Cu and 4.4 g/t Ag from 698m (sulphide)8m of 1.29% Cu and 10.8 g/t Ag from 752m (sulphide)SPRD-02 - step-out drilling between previously released holes SMD-02 and SMRD-22 on 150m spacing intersected mineralization in the near-surface upper volcanics and lower sediments166m of 0.50% Cu and 3.9 g/t Ag from 222m (oxide), including24m of 1.17% Cu and 11.8g/t Ag from 222m, including10m of 2.47% Cu and 27.4g/t Ag from 228m (oxide)14m of 1.07% Cu and 6.6 g/t Ag from 300m (oxide)6m of 0.94% Cu from 520m (sulphide) within 12m of 0.64% Cu from 520mSWRD-05 drilled 300m south of previously released SWRD-02 intersected high-grade mineralization in the lower sediments30m of 1.00% Cu and 7.3 g/t Ag (sulphide) from 536m, including4m of 2.29% Cu and 29.0 g/t Ag from 596m (sulphide)Both within 68m of 0.73% Cu and 5.1 g/t Ag from 532m (sulphide)SPRD-01 - step-out drilling 150m north of previously released SMD-02 also intersected high-grade near-surface volcanics and upper sediments146m of 0.41% Cu and 1.9g/t Ag from 286m, including50m of 0.56% Cu and 2.4g/t Ag (oxide) from 290m, including10m of 1.90% Cu and 10.6g/t Ag from 306m24m of 0.61% Cu and 1.7g/t Ag from 372m (mixed), including14m of 0.79% Cu and 2.9g/t Ag from 382mSPRD-03 - step-out drilling 150m south of previously released hole SMRD-13 intersected mineralization in the near-surface volcanics and but was affected by pre and post mineral dyking14m of 0.31% Cu from 52m (oxide), including8m of 0.42% Cu from 56 mFurther assays from the step-out program focused on the south-western extent of the sediment horizon partially affected by subparallel WNW late faulting and dyking. However, mineralization now extends to the upper volcanics adding continuity to the rock units covering the sediments.SWRD-07, drilled 300m west of SWRD-06B, intersected mineralization in the upper sediments and basement metasediments but was impacted by pre and post mineral dykes20m of 0.52% Cu and 5.1g/t Ag from 436m (sulphide)SWRD-06B, drilled 300m west of SWRD-05, intersected the lower manto in the interbedded siltstone, sandstone and tuff sequence4m of 1.15% Cu and 27.0g/t Ag from 644m (sulphide)SWRD-08A, drilled 300m west of previously released SWRD-04, intersected mineralization in the upper volcanics and upper sediment horizon28m of 0.52% Cu and 1.5g/t Ag from 202m (oxide)12m of 0.67% Cu and 3.2g/t Ag from 418m (mixed)6m of 1.01% Cu and 11.0g/t Ag from 454m (mixed)SWRD-09, drilled 300m west of previously released SMRD-33 intersected mineralization near-surface volcanics and the lower manto10m of 0.62% Cu and 7.8g/t Ag from 168m within 16m of 0.45% Cu and 5.3g/t Ag from 166m (oxide)6m of 0.82% Cu and 3.7g/t Ag from 594m (mixed)SMRD-14 drilled 300m north of hole SWRD-08A, intersected mineralization hosted by sandstones from the upper sedimentary unit8m of 0.52% Cu from 408 m within 12m of 0.40% Cu from 406 m (oxide)8m of 0.67% Cu from 432m within 14m of 0.54% Cu from 428 m (oxide)14m of 0.51% Cu and 1.12 g/t Ag from 478 m (mixed)Sergio Rivera, VP Exploration of Marimaca Copper, commented:"Our 2026 step-out drilling program continues to deliver exceptional results at Pampa Medina. We are not only seeing consistent, high-grade copper intersections, with multiple broad intervals returning above 2% copper across the western step-out holes, but also compelling continuity in the central high-grade zone (Figures 2, 3 and 4). Multiple holes in this release intersected >3 high-grade stacked mantos each reporting thick intersections of strong grades.The copper and silver mineralisation we see across both the oxide and sulphide zones is consistent with our geological model and confirms the scale and grade potential of the Pampa Medina system. We are increasingly confident that we are dealing with a deposit of genuine district significance."Overview of Pampa MedinaPampa Medina is a manto-style copper deposit dominantly hosted in Jurassic-Triassic sedimentary units (sandstones, conglomerates, tuffs and black shales) overlain by andesitic volcanics and underlain by an Upper Paleozoic complex of metamorphosed sediments, volcanics and intrusions. Key lithological units are intruded by a dyke swarm and affected by post mineral normal faulting. Copper was originally identified in near-surface oxide mineralization dominated by atacamite, chrysocolla and both secondary chalcocite, and has now been identified in high-grade zones of bornite, chalcopyrite, covellite and chalcocite which extend at depth beyond the oxide-primary transition. Elevated silver grades are present in in both oxide and sulphide copper-mineralized zones and are generally correlated with copper grade.Following Marimaca's consolidation of the project area and surrounding land packages in 2024, the Company reinterpreted all available geological information and developed an updated geological model for Pampa Medina, which identified the lower sedimentary units of interbedded sandstones, shales, tuffs and conglomerates as the priority target horizons for future drilling. Marimaca's 2026 drilling campaign will focus on three priority goals: definition of the high-grade central zone, delineating the identified oxide extensions, and further step-out drilling to test potential extensions of the broader system identified in geophysical work completed to date.Figure 1: Regional Map - Marimaca, Pampa Medina and Regional Infrastructure Figure 2 - Pampa Medina Historic Oxide Deposit and Current Drilling Locations (Previous Drilling in Grey Traces)
Figure 3 - Cross Section Looking North - Pampa Medina 7,440,950 N Figure 4 - Cross Section Looking North - Pampa Medina 7,440,200 N HoleTotal Depth (m) From (m)To (m)Intersection (m)% CuTg/t AgSPRD-01792 2864321460.411.9Including290340500.562.4Including306316101.9010.6And372396240.611.7Including382396140.792.9SPRD-02750 2223881660.503.9Including222246241.1711.8Including228238102.4727.4Including23423844.6050.5And300314141.076.6 520532120.64-Including52052660.94-SPRD-03700 5266140.31-Including566480.42-SPRD-06904 4248484240.382.2Including432464321.023.1And492514221.2311.8Including49450282.5421.0Including50050224.1429.0And562584221.5313.6Including56857682.7024.5And698708101.384.4Including75276081.2910.8SWRD-05886 2636100.64- 532600680.735.1Including534570360.946.3Including536566301.007.3Including536546101.3012.4And56456622.3626.0And59660042.2929.0SWRD-06B860 64464841.1527.0SWRD-07750 428458300.423.4Including436456200.525.1 45446061.0111.0 53854460.35-SWRD-08A500 202230280.521.5 418430120.673.2 45446061.0111.0SWRD-09950 166182160.455.3Including168178100.627.8 592608160.683.4Including59460060.823.7SMRD-14838 406418120.40-Including40841680.52- 428442140.54-Including43244080.67- 478492140.511.1Table 1: Table of IntersectionsHoleEastingNorthingElevationAzimuthInclinationDepthSPRD-01407096.317440949.821269.09270-60792.2SPRD-02407098.687440648.051268.8270-60750SPRD-03407341.647440651.251267.52270-60700SPRD-06406499.047440953.321282.57270-60904SWRD-05406150.797440199.241285.23270-55886SWRD-06B405843.177440197.991291.39270-55860SWRD-07405601.017440201.31297.84270-55750SWRD-08A405591.67440489.961300.92270-55500SWRD-09405898.267441100.061299.97270-55950SMRD-14405498.937440800.381305.9270-60838Table 2: Drill CollarsSampling and Assay ProtocolsTrue widths are estimated as 80-90% of reported intervals, based on down-hole bedding and structural measurements. DDH holes were sampled on a 2m continuous basis, halved by a conventional core splitter on site with one half sent to the Andes Analytical Assay preparation laboratory in Copiapó and the pulps then sent to the same company laboratory in Santiago for assaying. Samples were prepared using the following standard protocol: drying; crushing all sample to -1/4" and passing through a secondary crusher to better than 80% passing -10#; homogenizing; splitting; pulverizing a 400-600g subsample to 95% passing -150#; and a 125g split of this sent for assaying. All samples were assayed for sequential copper %CuT (total copper); %CuS (acid soluble copper), %CuCN (cyanide soluble copper) and CuRes (residual copper), In addition to copper analyses, multi-element analysis including silver (Ag) was undertaken using ICP (multi-element Optical Inductively Coupled Plasma). A full QA/QC program, involving insertion of appropriate blanks, standards and duplicates was employed with acceptable results. Pulps and sample rejects are stored by Marimaca Copper for future reference.Qualified Person / Competent PersonThe technical information in this news release, including the information that relates to geology, drilling and mineralization was prepared under the supervision of, or has been reviewed by Sergio Rivera, Vice President of Exploration, Marimaca Copper Corp, a geologist with more than 40 years of experience and a member of the Colegio de Geólogos de Chile and of the Institute of Mining Engineers of Chile, and who is the Qualified Person for the purposes of NI 43-101 responsible for the design and execution of the drilling program.The information in this announcement which relates to exploration results for the Pampa Medina Project is based on, and fairly reflects, information and supporting documentation prepared by Sergio Rivera, VP Exploration of Marimaca, a Competent Person who is a member of the Comision Minera (Chilean Mining Commission), Colegio de Geólogos de Chile and of the Institute of Mining Engineers of Chile. Mr. Rivera has sufficient experience that is relevant to the style of mineralisation and types of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Rivera consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.Contact Information
For further information please visit www.marimaca.com or contact:Tavistock
+44 (0) 207 920 3150
Emily Moss
marimaca@tavistock.co.ukForward Looking StatementsThis news release includes certain "forward-looking statements" under (without limitation) applicable Canadian securities legislation, including, without limitation, statements regarding the development of activities at Pampa Medina, the potential growth of Pampa Medina, and the discovery's potential to complement the MOD. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Marimaca Copper, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks that the development activities at Pampa Medina will not progress as anticipated, or at all, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project delays or cost overruns or unanticipated excessive operating costs and expenses, uncertainties related to the necessity of financing, uncertainties relating to regulatory procedure and timing for permitting submissions and reviews, the availability of and costs of financing needed in the future as well as those factors disclosed in the annual information form of the Company dated March 27, 2025 and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed at www.sedar.com). Readers should not place undue reliance on forward-looking statements. Marimaca Copper undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.None of the TSX, ASX or the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this release.This announcement was authorised for release to the ASX by the Board of Directors of the Company. Appendix 1 - JORC Code 2012 Table 1 (ASX Listing Rule 5.7.1)Section 1 Sampling Techniques and DataCriteriaJORC Code explanationCommentarySampling techniquesNature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.Aspects of the determination of mineralisation that are Material to the Public Report.In cases where ‘industry standard' work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.All current drilling conducted at Sierra Medina, which includes the Pampa Medina deposit, was completed under the supervision of a registered professional geologist as a Competent Person/Qualified Person (QP) who is responsible and accountable for the planning, execution, and supervision of all exploration activity as well as the implementation of quality assurance programs and reporting.Drilling reported is Reverse Circulation "RC" collared and Diamond ("DDH") tailed drillingAssay samples were prepared at a laboratory site in Copiapó and assayed by Andes Analytical Assay Ltd. (AAA) in Santiago.Sierra Medina´s DDH holes are drilled and sampled on a continuous 2-meter basis, halved by a conventional core splitter on site, with one half sent to the Andes Analytical Assay preparation laboratory in Copiapó and the pulps then sent to the same company laboratory in Santiago for assaying.Sierra Medina RC holes are drilled and sampled on a continuous 2-meter basis and riffle split on site up to one-eighth (12.5%) of its volume, after which samples are sent for preparation and assaying.Marimaca staff supervised all the drilling and sampling.DD recoveries were controlled by accurate core recovery measurement control was extended toward the division process realized in the drill location.DD recoveries were measured by core length measurement and compared with the effective core run. Marimaca technical staff checked all data.Measured recoveries are over 95% for DDH drilling, without significant variations and unrelated to copper grades.RC recoveries were controlled by weighing samples and accurate control was extended toward the division process realized in the drill location.RC recoveries were measured in weight percent as compared with a theoretical sample weight. Marimaca technical staff checked all data.Measured recoveries are over 95% for RC drilling, without significant variations and unrelated to copper grades.Drilling techniquesDrill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).Drilling reported RC collared and DDH-tailed drilling, DDH drilling commenced when the contact between the upper volcanics and upper sediments is encountered, which is variable in depthDDH drilling is drilled in HQ and NQ standard core diametersDrill sample recoveryMethod of recording and assessing core and chip sample recoveries and results assessed.Measures taken to maximise sample recovery and ensure representative nature of the samples.Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.Sierra Medina´s DDH holes are drilled and sampled on a continuous 2-meter basis, halved by a conventional core splitter on site, with one half sent to the Andes Analytical Assay preparation laboratory in Copiapó and the pulps then sent to the same company laboratory in Santiago for assaying.Sierra Medina RC holes are drilled and sampled on a continuous 2-meter basis and riffle split on site up to one-eighth (12.5%) of its volume, after which samples are sent for preparation and assaying.Marimaca staff supervised all the drilling and sampling.DD recoveries were controlled by accurate core recovery measurement control was extended toward the division process realized in the drill location.DD recoveries were measured by core length measurement and compared with the effective core run. Marimaca technical staff checked all data.RC recoveries were controlled by weighing samples and accurate control was extended toward the division process realized in the drill location.RC recoveries were measured in weight percent as compared with a theoretical sample weight. Marimaca technical staff checked all data.Measured recoveries are over 95% for RC drilling, without significant variations and unrelated to copper grades.LoggingWhether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.The total length and percentage of the relevant intersections logged.All holes were geologically logged on digital data capture.The data collected are rock, structure, alteration and mineralization based on drilling intervals, recoveries and analytical results.After validation, the mineral and alteration zones were defined.The results were entered in the database as a table with all mapped data and a consolidated log of the drill was prepared.Most of this work was done by experienced senior consultant geologist supported by consultant junior geologist.In addition to measuring deviations, most of the holes were surveyed using an optical tele viewer (OPTV or BHTV), with structures and orientation measurements, which continuously and thoroughly recorded the holes' walls and measured structures.The structures were measured in ranks according to their width and the results were reported and plotted on stereographic networks and rosette diagrams.Sub-sampling techniques and sample preparationIf core, whether cut or sawn and whether quarter, half or all core taken.If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.For all sample types, the nature, quality and appropriateness of the sample preparation technique.Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.Whether sample sizes are appropriate to the grain size of the material being sampled.Sierra Medina´s DDH holes are drilled and sampled on a continuous 2-meter basis, halved by a conventional core splitter on site, with one half sent to the Andes Analytical Assay preparation laboratory in Copiapó and the pulps then sent to the same company laboratory in Santiago for assayingThe last split yields "sample A", which is sent for preparation and assaying, and "sample B", which is used to obtain drill cuttings (1 kg) and coarse/preparation duplicates and then stored in special facilities on site.DDH samples are obtained every 2 meters from a half-core, with the other half stored on site.RC holes are drilled and sampled on a continuous 2-meter basis and its samples riffle split on site three times, up to one eighth (12.5%) of its volume.The last split yields "sample A", which is sent for preparation and assaying, and "sample B", which is used to obtain drill cuttings (1 kg) and coarse/preparation duplicates, and then stored in special facilities on site.Samples are transferred by laboratory personnel from the project to Copiapó, and then the preparation pulps are returned to generate the analysis batches. Upon receipt, sample details are logged and insertion points for quality control samples in the sample flow are determined.Samples were prepared using the following standard protocol: drying; crushing all sample to -1/4" and passing through a secondary crusher to better than 80% passing -10#; homogenizing; splitting; pulverizing a 400-600g subsample to 95% passing -150#; and a 125g split of this sent for assaying. All samples were assayed for sequential copper %CuT (total copper); %CuS (acid soluble copper), %CuCN (cyanide soluble copper) and CuRes (residual copper), and multi-element Optical Inductively Coupled Plasma (ICP).. A full QA/QC program, involving insertion of appropriate blanks, standards and duplicates was employed with acceptable results. Pulps and sample rejects are stored by Marimaca Copper for futureLaboratory results are loaded directly from digital assay certificates into the database, in order to minimize error sources.Quality of assay data and laboratory testsThe nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.Samples are prepared at a laboratory site in Copiapó and assayed by Andes Analytical Assay Ltd. (AAA) in Santiago.Samples were prepared using the following standard protocol: drying; crushing all sample to -1/4" and passing through a secondary crusher to better than 80% passing -10#; homogenizing; splitting; pulverizing a 400-600g subsample to 95% passing -150#; and a 125g split of this sent for assaying. All samples were assayed for %CuT (total copper); %CuS (acid soluble copper). A full QA/QC program, involving insertion of appropriate blanks, standards and duplicates was employed with acceptable results. Pulps and sample rejects are stored by Marimaca Copper for future. In addition to copper analyses, multi-element analysis including silver (Ag) was undertaken using ICP.All samples were assayed for sequential copper %CuT (total copper); %CuS (acid soluble copper), %CuCN (cyanide soluble copper) and CuRes (residual copper). Silver and an additional 33 elements were analysed using a 0.5g pulp sample and measured by optical ICP.Laboratory results are loaded directly from digital assay certificates into the database, in order to minimize error sources.The analytical quality control programs implemented at Marimaca involve the use of coarse/preparation and pulp duplicates for precision analyses and standard reference materials (SRM). QA/QC procedures apply equally to silver and the multi-element suite.Marimaca has protocols in place for handling analytical results that exceed acceptable limits, which can ultimately trigger re-assays of entire or portions of sample batches.Verification of sampling and assayingThe verification of significant intersections by either independent or alternative company personnel.The use of twinned holes.Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.Discuss any adjustment to assay data.There are no twinned holes in the datasetAll logging data was completed, and logging data was entered directly into the deposit database.Laboratory results are loaded directly from digital assay certificates into the database to minimize error sources.Location of data pointsAccuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.Specification of the grid system used.Quality and adequacy of topographic control.Local contractors carried out the supervision of the drilling operation.An experienced topographer surveyed the collars.WGS84 UTM coordinates are used.Data Well Services carried out the downhole surveys for drill holes.Data collected is considered adequate for eventual use in mineral resource estimation.Data spacing and distributionData spacing for reporting of Exploration Results.Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.Whether sample compositing has been applied.Due to the nature of mineralisation and the type of exploration discovery drilling program the hole spacing is highly variable.Data spacing is not considered sufficient to establish geological and grade continuities for Mineral Resource Estimation at the Inferred and Indicated category.No sample compositing was applied.Orientation of data in relation to geological structureWhether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.Drill hole orientation was generally oriented to be sub perpendicular to the mineralisation but variable in places given the nature of the exploration program being conductedAssays are reported on a downhole basisTrue widths are estimated as 80-90% of reported downhole intersection widthsSample securityThe measures taken to ensure sample security.All drilling assay samples are collected by company personnel or under the direct supervision of company personnel.Samples from Marimaca were initially processed at the project site and shipped directly from the property to a laboratory facility for final preparation, and later, upon their return, to the laboratory for analysis.Appropriately qualified staff at the laboratories collect assay samples.Security protocols implemented maintain the chain of custody of samples to prevent unnoticed contamination or mixing of samples and to make active tampering as difficult as possible.Audits or reviewsThe results of any audits or reviews of sampling techniques and data.It is the Competent Persons opinion that these processes met acceptable industry standards, and that the information can be reported under both JORC and NI43-101 standards and, in the future, be used for geological and resource modelling.Section 2: Reporting of Exploration ResultsCriteriaJORC Code explanationCommentaryMineral tenement and land tenure statusType, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.Marimaca Copper Corp. owns a tenement package consisting of approximately 14,500 hectares at the broader Sierra de Medina project area and are a mix of mining concessions and exploration concessions.The Sierra de Medina Project are comprising 55 concessions owned by ICAL, a subsidiary of Marimaca Copper Corp.The Pampa Medina Project comprises 12 concessions owned by SCM Elenita over which the Company entered into an option agreement to acquire.The Madrugador Project comprises 10 concessions owned by SLM Juanita and SLM Madrugador over which the Company entered into an option agreement to acquire.There are no known impediments to operating exploration drilling campaigns on the project areas.Exploration done by other partiesAcknowledgment and appraisal of exploration by other parties.1. Pampa Medina ConcessionsBetween 1993 and 1996, Compañía Minera Doña Isabel and Rayrock Ltda carried out an extensive exploration program. The program included a geochemistry program with short Track Drill wells spaced every 50 m along several E-W lines between 2 km and 5 km in length, which extend throughout the district, covering the southeastern part of the Pampa concessions in an area of approximately 460 ha. The aim was to evaluate the rock below the caliche layer. In this area, approximately 600 samples were obtained, representing 40% of the total samples extracted throughout the district, of which 2% of the total have copper anomalies.For 2003 and 2004, the right to exploit the Pampa 81 (1/20 and 21/40) and Pampa 47 (1/20 and 21/40) concessions by Minera Rayrock Ltda was established.In 2008, Rayrock Ltda carried out two RC drilling campaigns. The first involved 15,729 m distributed in 38 holes with an approximate mesh of 500 m × 500 m and the second campaign involved 14,913 m in 35 holes with a mesh of 125 m ×125 m in an area of 1,000 × 350 m, recognising mainly copper oxides, with some mixed intervals and small amounts of primary mineralisation.An exploration campaign was subsequently carried out in 2013, consisting of 45 diamond holes for a total of 18,707 m drilled.During 2014, Rayrock Ltda continued with the latest exploration campaign, with the completion of 17 diamond drill holes for a total of 5,264 m drilled.2. Madrugador ConcessionsThe Madrugador concessions were previously the subject of limited exploration efforts since the 1980s. Most of the exploration on the Madrugador concessions was conducted by Rayrock from 1993 to 1996 and consisted of diamond and reverse circulation drilling. A total of 23,502 m of diamond and RC drilling in 223 holes had been completed on the property prior to 2005. Proyecta, a Chilean engineering company, conducted a short track RC drilling program on the Madrugador claim in 2005.During the period 1994 to 1999, Rayrock conducted geological mapping of the property, a stream sediment and soil/road-cut sampling survey, as well as limited diamond drilling.In 2007 and 2008, Apoquindo Minerals Inc. (Apoquindo) completed 21,177 m of RC drilling in 132 holes and 1,206 m of diamond drilling in eight holes.In April 2009, Apoquindo entered into a JV agreement with Minera S.A.GeologyDeposit type, geological setting and style of mineralisation.The Pampa Medina mining district is characterised by Jurassic_Triassic volcanic and sediment hosted manto type copper mineralization. Characteristics volcanic hosted, such as shallow Madrugador mineralization, resembles the typical Coastal Belt copper style mineralization and the sediment hosted style is exposed at old mine workings along the Sierra de Valenzuela District and at deep drilling below covered areas extending around where the host sediments are covered by volcanics.Main structural system are a block faulting and a complex of dyke swarm.The copper mineralisation observed in the drill holes comprises both oxides and sulphides. The predominant oxides correspond to atacamite, azurite and chrysocolla. The oxide zone thickness varies between few metres up to more than 200 m, and irregular mixed zone characterised by a mixture of green copper oxides (mainly atacamite) and copper sulphides (mostly chalcocite, and less chalcopyrite and pyrite). At depths of more than 300m primary mineralization was observed and consist of chalcopyrite, bornite and variable covellite and pyrite.Rock alteration is mostly albitization of sediments and little clay is observed in the upper oxidized zones.Drill hole InformationA summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:easting and northing of the drill hole collarelevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collardip and azimuth of the holedown hole length and interception depthhole length.If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.Drill hole attribute information is included in a table herein.Data aggregation methodsIn reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.The assumptions used for any reporting of metal equivalent values should be clearly stated.Length weighted averages were used to calculate grade over width.No specific grade cap or cut-off was used during grade width calculations. The total copper (CuT) weighted average grade of the entire interval is calculated for all intervals over 2m samples lengths. Manto-type deposits can be variable in nature resulting in some intervals having a small number of poorly mineralized samples (
CA Market News
2月前
Marimaca Reports Additional High-Grade Silver Assays from Consolidated Drill Results at Pampa MedinaApril 2, 2026 6:30 AM
ACCESS NewswireVANCOUVER, BC / ACCESS Newswire / April 2, 2026 / Marimaca Copper Corp. ("Marimaca Copper" or the "Company") (TSX:MARI)(ASX:MC2) is pleased to report the complete silver assay results from its drilling to date at the Pampa Medina deposit, located at low altitude approximately 28km east of the Company's Marimaca Oxide Deposit ("MOD") (Figure 1), in Chile's prolific Antofagasta region. Copper assays and further details for holes reported in this announcement have been previously released.Silver mineralization is present across the deposit, with elevated silver grades present in both oxide and sulphide copper-mineralized zones and broadly correlated with copper grade. The Company is releasing these silver assays alongside a consolidation of all Pampa Medina drilling results to date, highlighting the significance of the consistent, high-grade copper and silver mineralization across a 3km by 2km area of interest.The Company has not yet completed its Phase I metallurgical programs at Pampa Medina and is therefore not reporting copper equivalent grades at this time. Silver by-products are common in Chilean manto-type deposits, including the nearby Mantos Blancos (Capstone Copper) and Cachorro (Antofagasta Minerals) deposits.HighlightsCompletion of the ICP assaying on all drilling completed to date at Pampa Medina indicates consistent, high-grade silver mineralization with the potential to be a predictable by-product credit at scaleHighlights from the ICP assaying are below (all copper assays have been previously reported):Hole SMRD-13:6m of 11.98% Cu and 82.0 g/t Ag from 594m downhole within 26m of 4.07% Cu and 25.3 g/t Ag from 580mBoth within a broader 100m of 1.28% Cu and 6.9 g/t Ag from 580mHole SMR-01:18m of 5.11% Cu and 53.4 g/t Ag from 320m within 102m of 1.20% Cu and 12.2 g/t Ag from 250m, including56m of 2.05% Cu and 22.0 g/tAg from 296m14m of 0.82% Cu and 12.3g/t Ag from 408mHole SMRD-16:10m of 4.24% Cu and 37.8 g/t Ag from 438m within 30m of 2.11% Cu and 17.3 g/t Ag from 434mBroader 360m of 0.49%Cu and from 434m and 2.5 g/t Ag8m of 1.80% Cu and 10.8 g/t Ag from 528m22m of 0.90% Cu and 6.5 g/t Ag from 568m20m of 1.14% Cu and 3.0 g/t Ag from 612m10m of 1.09% Cu and 1.2 g/t Ag from 782mHole SMRD-22:74m of 1.62% Cu and 11.9 g/t Ag from 162m within 134m of 1.06% Cu and 8.1 g/t Ag from 102m, including48m of 2.05% and 13.5 g/t Ag from 186m16m of 0.70% Cu and 2.1 g/t Ag from 306mHole SMD-02:40m of 2.06% Cu and 13.7 g/t Ag from 282m downhole within 132m of 0.99% Cu and 6.1 g/t Ag from 278m34m of 1.02% Cu and 6.5 g/t Ag from 378mHole SMD-01:242m of 0.65% Cu and 6.8 g/t Ag, including20m of 2.25% Cu and 25.9 g/t Ag from 298m downhole, and32m of 1.03% Cu and 12.0 g/t Ag from 332m downhole22m of 1.70% Cu and 15.1 g/t Ag from 604m22m of 0.84% Cu and 4.2 g/t Ag from 472mHole SMRD-20:198m of 0.65% Cu and 5.1 g/t Ag from 460m, including30m of 1.70% Cu and 20.9 g/t Ag from 548m90m of 0.96% Cu and 8.5 g/t Ag from 488m42m of 0.67% Cu and 3.4 g/t Ag from 600mHole SMRD-30:162m of 0.61% Cu and 7.0 g/t Ag from 220m, including36m of 1.04% Cu and 11.7 g/t Ag from 228m14m of 1.14% Cu and 10.6 g/t Ag from 316m6m of 2.09% Cu and 46.0 g/t Ag from 374m10m of 0.97% Cu and 11.2 g/t Ag from 528mHole SWRD-02:74m of 1.21% Cu and 7.9 g/t Ag from 520m, including48m of 1.62% Cu and 11.5 g/t Ag from 520m, including12m of 2.07% Cu and 17.2 g/t Ag from 532m6m of 1.02% Cu and 7.3 g/t Ag from 814mHole SMRD-34:6m of 3.0% Cu and 37.3 g/t Ag from 166m downhole within 36m of 1.08% Cu and 13.8 g/t Ag from 158m24m of 1.4% Cu and 12.2 g/t Ag from 600m, including10m of 2.6% Cu and 25.8 g/t Ag from 606m8m of 1.07% Cu and 7.3 g/t Ag from 684mSergio Rivera, VP Exploration of Marimaca Copper, commented:"Finalizing our silver assays across the complete Pampa Medina drilling database confirms our working hypothesis that silver grades would be elevated, consistent and strongly correlated with copper grades across the known deposit area to date. Drilling is ongoing on site, now combining 300m to 150m spaced delineation of the interpreted higher-grade zones of the deposit, as well as further step-out drilling focusing on extensions to the west, north-west and north-east. We intend to increase the rig count on site, currently at five, over the course of April and May in order to accelerate the 2026 drilling program. Pampa Medina continues to demonstrate qualities that make us very excited about the future of the deposit. Precious metal by-products in large primary copper deposits can surface exceptional value for builders and operators of these deposits as we have seen in recent and past transactions."Overview of Pampa MedinaPampa Medina is a manto-style copper deposit dominantly hosted in Jurassic-Triassic sedimentary units (sandstones, conglomerates, tuffs and black shales) overlain by andesitic volcanics and underlain by an Upper Paleozoic complex of metamorphosed sediments, volcanics and intrusions. Key lithological units are intruded by a dyke swarm and affected by post mineral normal faulting. Copper was originally identified in near-surface oxide mineralization dominated by atacamite, chrysocolla and both secondary chalcocite, and has now been identified in high-grade zones of bornite, chalcopyrite, covellite and chalcocite which extend at depth beyond the oxide-primary transition. Elevated silver grades are present in in both oxide and sulphide copper-mineralized zones and are generally correlated with copper grade.Following Marimaca's consolidation of the project area and surrounding land packages in 2024, the Company reinterpreted all available geological information and developed an updated geological model for Pampa Medina, which identified the lower sedimentary units of interbedded sandstones, shales, tuffs and conglomerates as the priority target horizons for future drilling. Marimaca's 2026 drilling campaign will focus on three priority goals: definition of the high-grade sulphide-dominant central zone, delineation of the identified oxide extensions, and further step-out drilling to test potential extensions of the broader system identified in geophysical work completed to date.Figure 1: Regional Map - Marimaca, Pampa Medina and Regional Infrastructure Figure 2 - Pampa Medina Deposit and Step-out Drilling Locations HoleTotal Depth (m) From (m)To (m)Intersection (m)% CuTg/t AgSMR-01650 2506504000.494.8Including2504662160.707.6Including2503521021.2012.2Including276352761.5716.3Including296352562.0522.0Including320338185.1153.4 408422140.8212.3 618650320.625.8Including64865023.4345.0SMR-04556 21021880.708.3 258276180.312.7 440454141.1412.3 49049441.042.5 53854460.774.7SMR-05700 240290500.422.4 470524540.545.4Including470502320.819.1Including482492101.1714.0 SMD-01952 2524942420.656.8Including298366681.2013.6Including298318202.2525.9And332364321.0312.0And420494740.848.3Including420460401.0713.1Including420452321.3216.1And472494220.844.2 604626221.7015.1SMD-02750 2784101320.996.1Including282322402.0613.7 378412341.026.5SMD-03650 226268420.725.7SMRD-12750 566622561.3710.5Including58259082.0020.8SMRD-13800 5806801001.286.9Including580648681.659.7Including580606264.0725.3Including594600611.9882.0SMRD-15580 122200780.310.2Including158200420.510.4Including188198100.83-SMRD-16850 236266300.430.3And4347943600.492.5Including434504701.037.6Including434464302.1117.3Including438448104.2437.8Including5166321160.612.6Including516536200.914.8Including52853681.8010.8Including568590220.906.5Including568578101.248.6Including612632201.143.0Including744794500.531.5Including782792101.091.2 SMD-04536 21421840.59-SMRD-17752 200224240.616.7Including206224180.738.1 590600101.347.2SMRD-18900 4282400.401.5Including7082120.572.7 138164260.515.1Including152164120.869.5 392408160.7510.3Including39239861.5626.0 866880140.513.0SMR-19594 464492281.445.3Including464480162.298.8SMRD-20850 4606581980.655.1Including488578900.968.5Including548578301.7020.9 600642420.673.4SMRD-21697.1 34235080.465.8 414426120.535.0SMRD-22898 1022361341.068.1Including162236741.6211.9Including186234482.0513.5 306322160.702.1 746756100.583.0 844856120.453.6SMRD-23900 242264220.534.8Including25626481.1912.3Including42643260.582.7SMRD-24648 288356680.443.2Including28829681.2215.3Including31231861.9916.0 394410161.245.4 55456061.142.7 588620320.572.9Including606616101.208.0SMR-25610 No significant interceptsSMRD-26952 34435060.464.7 586598120.414.2 81481841.2816.5SMR-27550 No significant interceptsSMRD-28820 386398120.591.7 494504100.471.4SMR-29618 2043201160.513.7Including296320241.6214.9Including296312162.1320.3SMRD-30863.4 2203821620.617.0Including228264361.0411.7Including242254122.0224.2Including316330141.1410.6And37438062.0946.0 44845460.80- 504538340.444.8Including528538100.9711.2SMR-31576 No significant interceptsSMR-32570 234262280.45- 484494100.744.0SWRD-01956 694732381.4311.8Including69470282.1115.5And718732141.8619.3 848868200.843.0SWRD-02944 520594741.217.9Including520568481.6211.5Including532544122.0717.2 81482061.027.3SWRD-03956 736754180.55- 822880580.493.3Including840868280.725.9SWRD-04898 322380580.49-Including332348161.005.9Including33834242.5114.5And36837681.175.0 660670100.716.4 70671041.068.5 82082441.0817.0 83684260.859.7SMRD-34950 1402561160.374.4Including158194361.0813.8Including16617263.0137.3 6007101100.573.9Including600624241.3712.2Including606616102.5825.8And68469281.077.3Table 1: Table of IntersectionsHoleEastingNorthingElevationAzimuthDipDepthYearTypeSMD-01407071.47441265.91270.04270-609502025DDHSMD-02407103.17440800.91268.64270-607502025DDHSMD-034071467440627.61268.32240-506502025DDHSMD-044076997441101.51267.95270-605362025DDHSMR-01407062.87441273.71270.17270-606502024RCSMR-04406763.47441275.71276.67270-605562024RCSMR-05407361.67441273.81268.8270-607002025RCSMR-19406946.87440199.91270.58270-605942025RCSMRD-124067877440797.21274.92270-607502025RCDSMRD-13407395.37440801.31267.63270-608002025RCDSMRD-15407698.27440799.11267.17270-605802025RCDSMRD-16406488.27440819.31282.01270-608502025RCDSMRD-1740731674410991268.61270-607522025RCDSMRD-1840690474411001272.63270-609002025RCDSMRD-20406499.27441099.91283.59270-608502025RCDSMRD-21407099.67441404.21269.9270-606972025RCDSMRD-22406999.47440502.11270.51270-608982025RCDSMR-25407599.17440503.11267.23270-606102025RCSMR-27407598.97440199.71265.74270-605502025RCSMR-29407698.674414011269.99270-606182025RCSMR-31407300.97440201.71266.54270-605762025RCSMR-32406500.47440201.91277.38270-605702025RCSMRD-23406800.97441403.31276.43270-609002025RCDSMRD-24406699.17440503.81275.95270-606482025RCDSMRD-26406497.47441404.51285.07270-559522025RCDSMRD-28407286.47440503.51266.5270-558202025RCDSMRD-30407400.17441401.81269.05270-558632025RCDSMRD-34406399.27440496.51282.63270-559502026RCDSWRD-01406194.37440803.71288.92270-559562026RCDSWRD-02406198.97440504.21287270-559442026RCDSWRD-03405899.97440801.41296.05270-559562026RCDSWRD-04405900.27440502.21293.18270-558982026RCDTable 2: Drill CollarsSampling and Assay ProtocolsTrue widths are estimated as 80-90% of reported intervals, based on down-hole bedding and structural measurements. DDH holes were sampled on a 2m continuous basis, halved by a conventional core splitter on site with one half sent to the Andes Analytical Assay preparation laboratory in Copiapó and the pulps then sent to the same company laboratory in Santiago for assaying. Samples were prepared using the following standard protocol: drying; crushing all sample to -1/4" and passing through a secondary crusher to better than 80% passing -10#; homogenizing; splitting; pulverizing a 400-600g subsample to 95% passing -150#; and a 125g split of this sent for assaying. All samples were assayed for sequential copper %CuT (total copper); %CuS (acid soluble copper), %CuCN (cyanide soluble copper) and CuRes (residual copper), In addition to copper analyses, multi-element analysis including silver (Ag) was undertaken using ICP (multi-element Optical Inductively Coupled Plasma). A full QA/QC program, involving insertion of appropriate blanks, standards and duplicates was employed with acceptable results. Pulps and sample rejects are stored by Marimaca Copper for future reference.Qualified Person / Competent PersonThe technical information in this news release, including the information that relates to geology, drilling and mineralization was prepared under the supervision of, or has been reviewed by Sergio Rivera, Vice President of Exploration, Marimaca Copper Corp, a geologist with more than 40 years of experience and a member of the Colegio de Geólogos de Chile and of the Institute of Mining Engineers of Chile, and who is the Qualified Person for the purposes of NI 43-101 responsible for the design and execution of the drilling program.The information in this announcement which relates to exploration results for the Pampa Medina Project is based on, and fairly reflects, information and supporting documentation prepared by Sergio Rivera, VP Exploration of Marimaca, a Competent Person who is a member of the Comision Minera (Chilean Mining Commission), Colegio de Geólogos de Chile and of the Institute of Mining Engineers of Chile. Mr. Rivera has sufficient experience that is relevant to the style of mineralisation and types of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Rivera consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.Contact Information
For further information please visit www.marimaca.com or contact:Tavistock
+44 (0) 207 920 3150
Emily Moss
marimaca@tavistock.co.ukAbout Marimaca Copper:Marimaca is a TSX ("MARI") and ASX ("MC2")-listed copper company focused on the development of high-quality copper assets in northern Chile. The Company's flagship asset is the Marimaca Oxide Deposit Project ("MOD"), located in Chile's prolific Antofagasta region. It has the potential to produce 50kt per year starting within the next three years. It is one of the few globally significant greenfield copper discoveries made in the last decade and represents a low-risk development opportunity, given the proximity to the city of Antofagasta and port of Mejillones, with substantial exploration upside. The Company also controls additional exploration properties at Pampa Medina and Madrugador within the Sierra de Medina region, located 25 kilometers from the MOD, where recent drilling has identified both oxide extensions and high-grade sulphide mineralization at depth.Forward Looking StatementsThis news release includes certain "forward-looking statements" under (without limitation) applicable Canadian securities legislation, including, without limitation, statements regarding the development of activities at Pampa Medina, the potential growth of Pampa Medina, and the discovery's potential to complement the MOD. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Marimaca Copper, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks that the development activities at Pampa Medina will not progress as anticipated, or at all, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project delays or cost overruns or unanticipated excessive operating costs and expenses, uncertainties related to the necessity of financing, uncertainties relating to regulatory procedure and timing for permitting submissions and reviews, the availability of and costs of financing needed in the future as well as those factors disclosed in the annual information form of the Company dated March 27, 2025 and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed at www.sedar.com). Readers should not place undue reliance on forward-looking statements. Marimaca Copper undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.None of the TSX, ASX or the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this release.This announcement was authorised for release to the ASX by the Board of Directors of the Company.Appendix 1 - JORC Code 2012 Table 1 (ASX Listing Rule 5.7.1)Section 1 Sampling Techniques and DataCriteriaJORC Code explanationCommentarySampling techniquesNature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.Aspects of the determination of mineralisation that are Material to the Public Report.In cases where ‘industry standard' work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.All current drilling conducted at Sierra Medina, which includes the Pampa Medina deposit, was completed under the supervision of a registered professional geologist as a Competent Person/Qualified Person (QP) who is responsible and accountable for the planning, execution, and supervision of all exploration activity as well as the implementation of quality assurance programs and reporting.Drilling reported is Reverse Circulation "RC" collared and Diamond ("DDH") tailed drillingAssay samples were prepared at a laboratory site in Copiapó and assayed by Andes Analytical Assay Ltd. (AAA) in Santiago.Sierra Medina´s DDH holes are drilled and sampled on a continuous 2-meter basis, halved by a conventional core splitter on site, with one half sent to the Andes Analytical Assay preparation laboratory in Copiapó and the pulps then sent to the same company laboratory in Santiago for assaying.Sierra Medina RC holes are drilled and sampled on a continuous 2-meter basis and riffle split on site up to one-eighth (12.5%) of its volume, after which samples are sent for preparation and assaying.Marimaca staff supervised all the drilling and sampling.DD recoveries were controlled by accurate core recovery measurement control was extended toward the division process realized in the drill location.DD recoveries were measured by core length measurement and compared with the effective core run. Marimaca technical staff checked all data.Measured recoveries are over 95% for DDH drilling, without significant variations and unrelated to copper grades.RC recoveries were controlled by weighing samples and accurate control was extended toward the division process realized in the drill location.RC recoveries were measured in weight percent as compared with a theoretical sample weight. Marimaca technical staff checked all data.Measured recoveries are over 95% for RC drilling, without significant variations and unrelated to copper grades.Drilling techniquesDrill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).Drilling reported RC collared and DDH-tailed drilling, DDH drilling commenced when the contact between the upper volcanics and upper sediments is encountered, which is variable in depthDDH drilling is drilled in HQ and NQ standard core diametersDrill sample recoveryMethod of recording and assessing core and chip sample recoveries and results assessed.Measures taken to maximise sample recovery and ensure representative nature of the samples.Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.Sierra Medina´s DDH holes are drilled and sampled on a continuous 2-meter basis, halved by a conventional core splitter on site, with one half sent to the Andes Analytical Assay preparation laboratory in Copiapó and the pulps then sent to the same company laboratory in Santiago for assaying.Sierra Medina RC holes are drilled and sampled on a continuous 2-meter basis and riffle split on site up to one-eighth (12.5%) of its volume, after which samples are sent for preparation and assaying.Marimaca staff supervised all the drilling and sampling.DD recoveries were controlled by accurate core recovery measurement control was extended toward the division process realized in the drill location.DD recoveries were measured by core length measurement and compared with the effective core run. Marimaca technical staff checked all data.RC recoveries were controlled by weighing samples and accurate control was extended toward the division process realized in the drill location.RC recoveries were measured in weight percent as compared with a theoretical sample weight. Marimaca technical staff checked all data.Measured recoveries are over 95% for RC drilling, without significant variations and unrelated to copper grades.LoggingWhether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.The total length and percentage of the relevant intersections logged.All holes were geologically logged on digital data capture.The data collected are rock, structure, alteration and mineralization based on drilling intervals, recoveries and analytical results.After validation, the mineral and alteration zones were defined.The results were entered in the database as a table with all mapped data and a consolidated log of the drill was prepared.Most of this work was done by experienced senior consultant geologist supported by consultant junior geologist.In addition to measuring deviations, most of the holes were surveyed using an optical tele viewer (OPTV or BHTV), with structures and orientation measurements, which continuously and thoroughly recorded the holes' walls and measured structures.The structures were measured in ranks according to their width and the results were reported and plotted on stereographic networks and rosette diagrams.Sub-sampling techniques and sample preparationIf core, whether cut or sawn and whether quarter, half or all core taken.If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.For all sample types, the nature, quality and appropriateness of the sample preparation technique.Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.Whether sample sizes are appropriate to the grain size of the material being sampled.Sierra Medina´s DDH holes are drilled and sampled on a continuous 2-meter basis, halved by a conventional core splitter on site, with one half sent to the Andes Analytical Assay preparation laboratory in Copiapó and the pulps then sent to the same company laboratory in Santiago for assayingThe last split yields "sample A", which is sent for preparation and assaying, and "sample B", which is used to obtain drill cuttings (1 kg) and coarse/preparation duplicates and then stored in special facilities on site.DDH samples are obtained every 2 meters from a half-core, with the other half stored on site.RC holes are drilled and sampled on a continuous 2-meter basis and its samples riffle split on site three times, up to one eighth (12.5%) of its volume.The last split yields "sample A", which is sent for preparation and assaying, and "sample B", which is used to obtain drill cuttings (1 kg) and coarse/preparation duplicates, and then stored in special facilities on site.Samples are transferred by laboratory personnel from the project to Copiapó, and then the preparation pulps are returned to generate the analysis batches. Upon receipt, sample details are logged and insertion points for quality control samples in the sample flow are determined.Samples were prepared using the following standard protocol: drying; crushing all sample to -1/4" and passing through a secondary crusher to better than 80% passing -10#; homogenizing; splitting; pulverizing a 400-600g subsample to 95% passing -150#; and a 125g split of this sent for assaying. All samples were assayed for sequential copper %CuT (total copper); %CuS (acid soluble copper), %CuCN (cyanide soluble copper) and CuRes (residual copper), and multi-element Optical Inductively Coupled Plasma (ICP).. A full QA/QC program, involving insertion of appropriate blanks, standards and duplicates was employed with acceptable results. Pulps and sample rejects are stored by Marimaca Copper for futureLaboratory results are loaded directly from digital assay certificates into the database, in order to minimize error sources.Quality of assay data and laboratory testsThe nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.Samples are prepared at a laboratory site in Copiapó and assayed by Andes Analytical Assay Ltd. (AAA) in Santiago.Samples were prepared using the following standard protocol: drying; crushing all sample to -1/4" and passing through a secondary crusher to better than 80% passing -10#; homogenizing; splitting; pulverizing a 400-600g subsample to 95% passing -150#; and a 125g split of this sent for assaying. All samples were assayed for %CuT (total copper); %CuS (acid soluble copper). A full QA/QC program, involving insertion of appropriate blanks, standards and duplicates was employed with acceptable results. Pulps and sample rejects are stored by Marimaca Copper for future. In addition to copper analyses, multi-element analysis including silver (Ag) was undertaken using ICP.All samples were assayed for sequential copper %CuT (total copper); %CuS (acid soluble copper), %CuCN (cyanide soluble copper) and CuRes (residual copper). Silver and an additional 33 elements were analysed using a 0.5g pulp sample and measured by optical ICP.Laboratory results are loaded directly from digital assay certificates into the database, in order to minimize error sources.The analytical quality control programs implemented at Marimaca involve the use of coarse/preparation and pulp duplicates for precision analyses and standard reference materials (SRM). QA/QC procedures apply equally to silver and the multi-element suite.Marimaca has protocols in place for handling analytical results that exceed acceptable limits, which can ultimately trigger re-assays of entire or portions of sample batches.Verification of sampling and assayingThe verification of significant intersections by either independent or alternative company personnel.The use of twinned holes.Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.Discuss any adjustment to assay data.There are no twinned holes in the datasetAll logging data was completed, and logging data was entered directly into the deposit database.Laboratory results are loaded directly from digital assay certificates into the database to minimize error sources.Location of data pointsAccuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.Specification of the grid system used.Quality and adequacy of topographic control.Local contractors carried out the supervision of the drilling operation.An experienced topographer surveyed the collars.WGS84 UTM coordinates are used.Data Well Services carried out the downhole surveys for drill holes.Data collected is considered adequate for eventual use in mineral resource estimation.Data spacing and distributionData spacing for reporting of Exploration Results.Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.Whether sample compositing has been applied.Due to the nature of mineralisation and the type of exploration discovery drilling program the hole spacing is highly variable.Data spacing is not considered sufficient to establish geological and grade continuities for Mineral Resource Estimation at the Inferred and Indicated category.No sample compositing was applied.Orientation of data in relation to geological structureWhether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.Drill hole orientation was generally oriented to be sub perpendicular to the mineralisation but variable in places given the nature of the exploration program being conductedAssays are reported on a downhole basisTrue widths are estimated as 80-90% of reported downhole intersection widthsSample securityThe measures taken to ensure sample security.All drilling assay samples are collected by company personnel or under the direct supervision of company personnel.Samples from Marimaca were initially processed at the project site and shipped directly from the property to a laboratory facility for final preparation, and later, upon their return, to the laboratory for analysis.Appropriately qualified staff at the laboratories collect assay samples.Security protocols implemented maintain the chain of custody of samples to prevent unnoticed contamination or mixing of samples and to make active tampering as difficult as possible.Audits or reviewsThe results of any audits or reviews of sampling techniques and data.It is the Competent Persons opinion that these processes met acceptable industry standards, and that the information can be reported under both JORC and NI43-101 standards and, in the future, be used for geological and resource modelling.Section 2: Reporting of Exploration ResultsCriteriaJORC Code explanationCommentaryMineral tenement and land tenure statusType, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.Marimaca Copper Corp. owns a tenement package consisting of approximately 14,500 hectares at the broader Sierra de Medina project area and are a mix of mining concessions and exploration concessions.The Sierra de Medina Project are comprising 55 concessions owned by ICAL, a subsidiary of Marimaca Copper Corp.The Pampa Medina Project comprises 12 concessions owned by SCM Elenita over which the Company entered into an option agreement to acquire.The Madrugador Project comprises 10 concessions owned by SLM Juanita and SLM Madrugador over which the Company entered into an option agreement to acquire.There are no known impediments to operating exploration drilling campaigns on the project areas.Exploration done by other partiesAcknowledgment and appraisal of exploration by other parties.1. Pampa Medina ConcessionsBetween 1993 and 1996, Compañía Minera Doña Isabel and Rayrock Ltda carried out an extensive exploration program. The program included a geochemistry program with short Track Drill wells spaced every 50 m along several E-W lines between 2 km and 5 km in length, which extend throughout the district, covering the southeastern part of the Pampa concessions in an area of approximately 460 ha. The aim was to evaluate the rock below the caliche layer. In this area, approximately 600 samples were obtained, representing 40% of the total samples extracted throughout the district, of which 2% of the total have copper anomalies.For 2003 and 2004, the right to exploit the Pampa 81 (1/20 and 21/40) and Pampa 47 (1/20 and 21/40) concessions by Minera Rayrock Ltda was established.In 2008, Rayrock Ltda carried out two RC drilling campaigns. The first involved 15,729 m distributed in 38 holes with an approximate mesh of 500 m × 500 m and the second campaign involved 14,913 m in 35 holes with a mesh of 125 m ×125 m in an area of 1,000 × 350 m, recognising mainly copper oxides, with some mixed intervals and small amounts of primary mineralisation.An exploration campaign was subsequently carried out in 2013, consisting of 45 diamond holes for a total of 18,707 m drilled.During 2014, Rayrock Ltda continued with the latest exploration campaign, with the completion of 17 diamond drill holes for a total of 5,264 m drilled.2. Madrugador ConcessionsThe Madrugador concessions were previously the subject of limited exploration efforts since the 1980s. Most of the exploration on the Madrugador concessions was conducted by Rayrock from 1993 to 1996 and consisted of diamond and reverse circulation drilling. A total of 23,502 m of diamond and RC drilling in 223 holes had been completed on the property prior to 2005. Proyecta, a Chilean engineering company, conducted a short track RC drilling program on the Madrugador claim in 2005.During the period 1994 to 1999, Rayrock conducted geological mapping of the property, a stream sediment and soil/road-cut sampling survey, as well as limited diamond drilling.In 2007 and 2008, Apoquindo Minerals Inc. (Apoquindo) completed 21,177 m of RC drilling in 132 holes and 1,206 m of diamond drilling in eight holes.In April 2009, Apoquindo entered into a JV agreement with Minera S.A.GeologyDeposit type, geological setting and style of mineralisation.The Pampa Medina mining district is characterised by Jurassic_Triassic volcanic and sediment hosted manto type copper mineralization. Characteristics volcanic hosted, such as shallow Madrugador mineralization, resembles the typical Coastal Belt copper style mineralization and the sediment hosted style is exposed at old mine workings along the Sierra de Valenzuela District and at deep drilling below covered areas extending around where the host sediments are covered by volcanics.Main structural system are a block faulting and a complex of dyke swarm.The copper mineralisation observed in the drill holes comprises both oxides and sulphides. The predominant oxides correspond to atacamite, azurite and chrysocolla. The oxide zone thickness varies between few metres up to more than 200 m, and irregular mixed zone characterised by a mixture of green copper oxides (mainly atacamite) and copper sulphides (mostly chalcocite, and less chalcopyrite and pyrite). At depths of more than 300m primary mineralization was observed and consist of chalcopyrite, bornite and variable covellite and pyrite.Rock alteration is mostly albitization of sediments and little clay is observed in the upper oxidized zones.Drill hole InformationA summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:easting and northing of the drill hole collarelevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collardip and azimuth of the holedown hole length and interception depthhole length.If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.Drill hole attribute information is included in a table herein.Data aggregation methodsIn reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.The assumptions used for any reporting of metal equivalent values should be clearly stated.Length weighted averages were used to calculate grade over width.No specific grade cap or cut-off was used during grade width calculations. The total copper (CuT) weighted average grade of the entire interval is calculated for all intervals over 2m samples lengths. Manto-type deposits can be variable in nature resulting in some intervals having a small number of poorly mineralized samples (
CA Market News
2月前
Marimaca Announces the Appointment of Zenon Wozniak to its Board of Directors; Giancarlo Bruno appointed Independent Non-Executive Chair; Board ChangesMarch 30, 2026 7:30 AM
ACCESS NewswireVANCOUVER, BC / ACCESS Newswire / March 30, 2026 / Marimaca Copper Corp. ("Marimaca Copper" or the "Company") (TSX:MARI)(ASX:MC2) is pleased to announce the appointment of Zenon Wozniak, formerly Director, Projects at First Quantum Minerals Ltd, as an Independent Non-Executive Director, effective March 27th, 2026. The Company also announces that Giancarlo Bruno Lagomarsino has been appointed as Independent Non-Executive Chair, succeeding Michael Haworth who will remain as a Non-Executive Director. In addition, Non-Executive Directors Alan Stephens and Clive Newall have announced their retirement from the Board effective March 27th, 2026.Zenon Wozniak Appointed to Board of DirectorsMr. Wozniak is a Qualified Engineer with over 40 years of international experience across the natural resources sector. He has spent the majority of his career at First Quantum Minerals Ltd, one of the world's leading copper producers, where he served as Director, Projects through to 2026. Zenon was responsible for a global development portfolio, which at times exceeded US$10 billion in value across multiple concurrent projects. As Director, Projects, Mr. Wozniak's experience includes the construction and delivery of the Cobre Panama copper mine in Panama and the Kansanshi Copper mine in Zambia. His mining experience spans project design, project engineering, construction, commissioning, project management, and operational leadership across copper, nickel, gold and diamonds, with direct exposure across Australia, Latin America, Europe and Africa. Mr. Wozniak will Chair the Company's Project Steering & Technical Committee.Board ChangesGiancarlo Bruno Lagomarsino has been appointed Independent Non-Executive Chair with immediate effect. A Chilean national and mechanical engineer by training, Mr. Bruno Lagomarsino is a seasoned mining professional with 35 years of experience in executive mining management across some of Chile's most significant copper operations. Most recently, he served as CEO of Mantos Copper SA, the operator of the Mantos Blancos and Mantoverde mines prior to the combination with Capstone Copper. He has served as a Non-Executive Director of Marimaca Copper since 2023.Michael Haworth will step down as Non-Executive Chair with immediate effect, and will remain a Non-Executive Director and assume the role of Chair of the Audit Committee. Mr. Haworth served as Executive Chair of the Board from February 2020 to April 2021, where he transitioned to the role of Non-Executive Chair. The Company extends its thanks to Mr. Haworth for his valued contribution as Chair of the Board since February 2020.The Company also wishes to recognise the exceptional and longstanding contributions of Alan Stephens and Clive Newall, both of whom retire from the Board effective March 27th, 2026. Mr. Stephens co-founded Coro Mining in 2005, bringing the geological expertise and knowledge of Chilean copper exploration that were foundational for the Company's success. Mr. Newall's significant experience and insight gained from building First Quantum Minerals into a global copper major were instrumental for Marimaca over the last 5 years as it made the transition from explorer to developer.Michael Haworth, Outgoing Non-Executive Chair of Marimaca Copper, commented:"We are delighted to welcome Zenon to the Marimaca Board. His extensive experience in developing world-class copper mines at First Quantum, one of the world's leading copper producers and mine builders, will be a tremendous asset as we advance the MOD toward a construction decision and continue to build the organisational and governance capability required to deliver the next major copper mine in Chile.We are also thrilled to welcome Giancarlo Bruno as the new Board Chair. Giancarlo's extensive experience in Chilean copper development and operations will be invaluable as we progress through the development of the MOD. I will be working closely with Giancarlo as he transitions to his new role and look forward to continuing to support the Company as a Non-Executive Director through this next phase of development.On behalf of the entire Board and management team, I would like to sincerely thank Alan and Clive for their outstanding contributions to Marimaca during their tenure. Alan and Clive were instrumental in building this Company from the ground up. Their collective contribution to Marimaca is immeasurable and I wish them the very best in their retirement."Contact InformationFor further information please visit www.marimaca.com or contact:Tavistock
+44 (0) 207 920 3150
Emily Moss
marimaca@tavistock.co.ukAbout Marimaca Copper:Marimaca is a TSX ("MARI") and ASX ("MC2")-listed copper company focused on the development of high-quality copper assets in northern Chile. The Company's flagship asset is the Marimaca Oxide Deposit Project ("MOD"), located in Chile's prolific Antofagasta region. It is one of the few globally significant greenfield copper discoveries made in the last decade and represents a low-risk development opportunity, given the proximity to the city of Antofagasta and port of Mejillones, with substantial exploration upside. The Company also controls additional exploration properties at Pampa Medina and Madrugador within the Sierra de Medina region, located 30 kilometers from the MOD, where recent drilling has identified both oxide extensions and high-grade sulphide mineralization at depth.Forward Looking StatementsThis news release includes certain "forward-looking statements" under (without limitation) applicable Canadian securities legislation, including, without limitation, the development of activities at the MOD. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Marimaca Copper, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks that the development activities at the MOD will not progress as anticipated, or at all, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project delays or cost overruns or unanticipated excessive operating costs and expenses, uncertainties related to the necessity of financing, uncertainties relating to regulatory procedure and timing for permitting submissions and reviews, the availability of and costs of financing needed in the future as well as those factors disclosed in the annual information form of the Company dated March 27, 2025 and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed at www.sedar.com). Readers should not place undue reliance on forward-looking statements. Marimaca Copper undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.None of the TSX, ASX or the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this release.This announcement was authorised for release to the ASX by the Board of Directors of the Company.SOURCE: Marimaca Copper Corp.View the original press release on ACCESS NewswireOriginal: Marimaca Announces the Appointment of Zenon Wozniak to its Board of Directors; Giancarlo Bruno appointed Independent Non-Executive Chair; Board Changes
CA Market News
3月前
Marimaca Announces Senior Management UpdatesMarch 2, 2026 7:00 AM
ACCESS NewswireVANCOUVER, BC / ACCESS Newswire / March 2, 2026 / Marimaca Copper Corp. ("Marimaca Copper" or the "Company") (TSX:MARI)(ASX:MC2) is pleased to announce the appointment of Joshua Watson as Project Director, leading the development of the Company's Marimaca Oxide Deposit ("MOD") in Chile. This further strengthens Marimaca's technical and project execution capabilities as the Company transitions to the next phase of development at the MOD. In addition, Nico Cookson has been appointed President of the Company, effective March 1st, 2026, following his role as Head of Corporate Development and Strategy.Mr. Watson is an experienced mining and projects executive with more than two decades of project leadership, delivering major capital projects for world-class global mining companies across the Americas, Australia, and Asia. He has held senior leadership roles with Teck Resources, Barrick, Vale, and Rio Tinto, with responsibility for multi-billion-dollar capital portfolios spanning studies, execution, sustaining capital, and operational readiness.Most recently, Mr. Watson served as Vice President Projects, Studies and Sustaining at Teck Resources, where he was accountable for project studies and sustaining capital programs including multiple strategic Joint Venture projects. Previously, he was Head of Technical and Capital Projects for Barrick's North American operations, overseeing a multi-billion-dollar project portfolio across processing, energy, metallurgy, tailings, and water management. Earlier in his career Mr. Watson spent four years at Oyu Tolgoi with Rio Tinto, where he held progressively more senior roles, ultimately managing key infrastructure projects and the construction of one of the largest underground materials handling systems globally. Mr. Watson has demonstrated a strong track record of safely delivering complex mining projects on time and within budget, leading large multidisciplinary teams, and establishing high-performance project governance frameworks. He is a Chartered Professional Engineer and holds first-class honours degrees in Civil Engineering and Mathematics.Mr. Cookson will continue to oversee corporate development, strategy, and investor relation functions, supporting Hayden Locke as Chief Executive Officer of Marimaca. Jose Antonio Merino will remain Managing Director, Chile and Chief Financial Officer, responsible for the oversight and leadership of all Chilean operations of Marimaca.Hayden Locke, Chief Executive Officer of Marimaca Copper, commented:"We are excited to welcome Josh to the Marimaca team where he will provide deep technical expertise and a proven track record of delivering large-scale capital projects on time and on budget at tier-one mining operations globally. His experience across detailed engineering, execution, and operational optimisation will be instrumental as he helps lead and further build out our Owner's Team, positioning the Company strongly as we advance the MOD toward a construction decision and deliver the next major copper mine in Chile.Nico's appointment as President reflects the critical role he has played in shaping Marimaca's corporate strategy and growth over the past several years, and his commitment to our journey toward first copper.The Company is focused on building out the organisational capability, systems, and execution discipline required to deliver a low capital intensity oxide project in Chile, in line with the development strategy outlined in the DFS. We are excited for what is to be a pivotal year ahead."Contact InformationFor further information please visit www.marimaca.com or contact:Tavistock
+44 (0) 207 920 3150
Emily Moss
marimaca@tavistock.co.ukForward Looking StatementsThis news release includes certain "forward-looking statements" under (without limitation) applicable Canadian securities legislation, including, without limitation, statements regarding the development activities at the MOD. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Marimaca Copper, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks that the development activities at the MOD will not progress as anticipated, or at all, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project delays or cost overruns or unanticipated excessive operating costs and expenses, uncertainties related to the necessity of financing, uncertainties relating to regulatory procedure and timing for permitting submissions and reviews, the availability of and costs of financing needed in the future as well as those factors disclosed in the annual information form of the Company dated March 27, 2025 and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed at www.sedar.com). Readers should not place undue reliance on forward-looking statements. Marimaca Copper undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.None of the TSX, ASX or the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this release.This announcement was authorised for release to the ASX by the Board of Directors of the Company.SOURCE: Marimaca Copper Corp.View the original press release on ACCESS NewswireOriginal: Marimaca Announces Senior Management Updates
CA Market News
3月前
Marimaca Copper Announces Closing of Australian Offering to Complete Global Offering of C$409 Million (~A$423 Million)February 26, 2026 9:00 PM
ACCESS NewswireNot for release to United States news wire services or for dissemination in the United StatesVANCOUVER, BC / ACCESS Newswire / February 26, 2026 / Marimaca Copper Corp. (TSX:MARI)(ASX:MC2) ("Marimaca" or the "Company") is pleased to announce the closing of the Australian secondary offering of 15,200,913 existing CHESS Depositary Interests of the Company (the "CDIs") at a price of A$10.35 per CDI owned and controlled by Greenstone Resources II L.P. and other shareholders (the "Selling Shareholders") for aggregate gross proceeds of A$157 million (the "Australian Secondary Offering").The previously announced global treasury and secondary offering has now been fully completed for aggregate gross proceeds of C$409 million, or A$423 million[1] (the "Global Offering"). See the Company's prior press release dated February 26, 2026 in respect of the completion of the Canadian offering (the "Canadian Offering") for aggregate gross proceeds of C$257 million, comprised of a treasury offering for aggregate gross proceeds of C$136.5 million (the "Canadian Treasury Offering") and a secondary offering for aggregate gross proceeds of C$120.5 million (the "Canadian Secondary Offering" and together with the Australian Secondary Offering, the "Secondary Offering").The Australian Secondary Offering was completed as a brokered placement of CDIs by Euroz Hartleys Limited, Canaccord Genuity (Australia) Limited, Beacon Securities Limited and BMO Capital Markets, (the "Joint Lead Managers"), who acted as co-lead agents and joint bookrunners to the Global Offering.The net proceeds of the Australian Secondary Offering were paid to the Selling Shareholders, and the Company did not receive any proceeds thereunder.Early Warning DisclosureUpon closing of the Global Offering, Greenstone Resources II L.P. and Greenstone Co-Investment No. 1 (Coro) L.P. (the "Greenstone Group") collectively beneficially own and control 2,255,198 common shares of the Company (the "Common Shares") and 6,351,806 CDIs, representing 6.44% of the outstanding Common Shares and CDIs (in aggregate) (taking into account completion of the Canadian Treasury Offering). Prior to closing of the Global Offering, the Greenstone Group beneficially owned and controlled 22,304,285 Common Shares (of which 8,000,000 were held in the form of CDIs), representing 18.58% of the outstanding Common Shares and CDIs (in aggregate). Pursuant to the Secondary Offering, the Greenstone Group disposed of an aggregate of 13,697,281 Common Shares (of which 1,648,194 were held in the form of CDIs), representing a decrease of 11.41% of the outstanding Common Shares and CDIs in aggregate, before taking into account the Canadian Treasury Offering (or a decrease of 12.14% taking into account completion of the Canadian Treasury Offering). The Greenstone Group received C$10.00 per Share sold pursuant to the Canadian Secondary Offering and A$10.35 per CDI sold pursuant to the Australian Secondary Offering, for aggregate proceeds to the Greenstone Group of C$136,972,810 (using an exchange rate of C$1.00 = A$0.9961), excluding commissions and expenses payable to the Joint Lead Managers in connection with the Secondary Offering.As part of the Global Offering, the Selling Shareholders have agreed, subject to certain limited exceptions, not to sell any Common Shares or CDIs for a 90 day period. Subject to the foregoing, depending on market conditions and other factors, the Greenstone Group may from time to time acquire and/or dispose of securities of Marimaca or continue to hold its current position. An early warning report related to the Secondary Offering will be filed with the applicable securities commissions and on SEDAR+ under Marimaca's profile at www.sedarplus.ca and a copy of such report can be obtained by contacting Gary Mauger at greenstoneGSY@aztecgroup.co.uk or at +44 1481 749 700. The address of Greenstone Resources II L.P. is PO Box 656, East Wing, Trafalgar Court, Les Banques, St Peter Port, Guernsey, GY1 3PP.U.S. Securities Act DisclaimerThe securities under the Canadian Offering and the Australian Secondary Offering have not been registered under the U.S. Securities Act or the securities laws of any state of the United States and were not offered, sold or delivered, directly or indirectly, in the United States (as such term is defined in Regulation S under the U.S. Securities Act), except pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or solicitation of an offer to buy any of these securities in the United States or in any jurisdiction in which such offer, solicitation or sale is not permitted.About MarimacaMarimaca is a copper exploration and development company focused on its 100%-owned flagship Marimaca Copper Project and surrounding exploration properties located in Antofagasta Region, Chile. The head office of Marimaca is 5300-66 Wellington Street West, Toronto, Ontario, M5K 1E6.The Marimaca Copper Project hosts the Marimaca Oxide Deposit (the "MOD"), an IOCG-type copper deposit. The Company is currently progressing the Marimaca Copper Project through detailed engineering and submission for sectorial permits following the release of the 2025 MOD DFS and receipt of the RCA. In parallel, the Company is exploring its extensive land package in the Antofagasta region, including the >15,000ha wholly-owned Sierra de Medina property block, located 25km from the MOD. The Company is currently completing a Phase II drilling program (30,000m) at Pampa Medina, located in the Sierra de Medina property, after a successful discovery drilling program in 2025 identified a high-grade sedimentary horizon at depth.This news release is authorized for release by the Board of Directors of Marimaca.Contact InformationFor further information please visit www.marimaca.com or contact:Tavistock
+44 (0) 207 920 3150
Emily Moss
marimaca@tavistock.co.ukForward-Looking StatementsThis news release includes certain "forward-looking statements" under applicable Canadian securities legislation. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Marimaca, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project delays or cost overruns or unanticipated excessive operating costs and expenses, uncertainties related to the necessity of financing, uncertainties relating to regulatory procedure and timing for permitting reviews, the availability of and costs of financing needed in the future. Many of these risks and uncertainties and additional risk factors generally applicable to the Company are described in the Company's annual information form of the Company dated March 27, 2025 and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed at www.sedarplus.ca). Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein, whether as a result of new information or future events or otherwise, except as may be required by law.None of the TSX, ASX or the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this release.[1] Based on an AUD.CAD exchange rate of 0.9661SOURCE: Marimaca Copper Corp.View the original press release on ACCESS NewswireOriginal: Marimaca Copper Announces Closing of Australian Offering to Complete Global Offering of C$409 Million (~A$423 Million)
CA Market News
4月前
Marimaca Copper Completes Bookbuild for C$409 Million (~ A$423 Million)February 18, 2026 10:04 AM
NewsfileTreasury Offering of C$136.5 Million (~ A$141 Million)
Secondary Offering of C$272.5 Million (~ A$282 Million)Marimaca and the Selling Shareholders have received strong commitments via the Canadian Offering and Australian Offering (defined below)Pro forma cash before transactions costs is C$227 million (~ A$235 million[1])[2]Vancouver, British Columbia--(Newsfile Corp. - February 18, 2026) - Marimaca Copper Corp. (TSX: MARI) (ASX: MC2) ("Marimaca" or the "Company") is pleased to announce a highly successful equity bookbuild with strong support from new and existing shareholders. The proceeds of the Canadian Treasury Offering (the "Canadian Treasury Offering") will be used to advance the Marimaca Project and expand the exploration programs at Pampa Medina. Global Offering DetailsThe global offering will be completed in two parts (together the "Global Offering"), comprising:Canadian Offering: Canadian Treasury Offering: C$136.5 million treasury offering of 13,650,000 common shares of the Company (the "Common Shares") priced at C$10.00 per Common Share (the "Canadian Issue Price"); andCanadian Secondary Offering: C$120.5 million secondary offering of 12,049,087 existing Common Shares at the Canadian Issue Price owned and controlled by Greenstone Resources II L.P. and Greenstone Co-Investment No. 1 (Coro) L.P. (the "Greenstone Group"). Australian Offering:Australian Secondary Offering: A$157 million secondary offering of CHESS Depositary Interests of the Company (the "CDIs") at a price of A$10.35 per CDI (the "Australian Offer Price") owned and controlled by Greenstone Resources II L.P. and other shareholders (together with the Greenstone Group, the "Selling Shareholders").The Canadian Treasury Offering represents aggregate gross proceeds to the Company of approximately C$136.5 million, or A$141 million1. The Canadian Secondary Offering and Australian Secondary Offering (together, the "Secondary Offering") combined represent aggregate gross proceeds to the Selling Shareholders of approximately C$272.5 million, or A$282 million1.Completion of the Canadian Treasury Offering is subject to TSX approval. The CDIs under the Australian Offering will be issued pursuant to the ASX Listing Rule 7.1 waiver granted to the Company.Canadian OfferingMarimaca has entered into an agreement with the Canadian Co-Lead Agents (defined below), to conduct, on a commercially reasonable efforts agency basis, a public offering of Common Shares. The Canadian Offering consists of a Canadian Treasury Offering of Common Shares of the Company for C$136.5 million and a Canadian Secondary Offering of existing Common Shares, owned and controlled by the Greenstone Group, for C$120.5 million. Collectively, the Canadian Offering will consist of 25,699,087 Common Shares at the Canadian Issue Price for aggregate gross proceeds of C$257 million.The Canadian Offering will be made by way of a prospectus supplement (the "Prospectus Supplement") to the Company's short form base shelf prospectus dated January 9, 2026 (the "Shelf Prospectus") to purchasers in all of the provinces and territories of Canada (other than Québec and Nunavut) and may be offered in the United States to "qualified institutional buyers" under the United States Securities Act of 1933 ("QIBs"), as amended (the "U.S. Securities Act") and in those jurisdictions outside Canada and the United States pursuant to exemptions from prospectus and registration requirements. Access to the Prospectus Supplement, the Shelf Prospectus and any amendment to such documents is provided in accordance with securities legislation relating to the procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment. The Shelf Prospectus is, and the Prospectus Supplement will be filed and accessible on SEDAR+ at www.sedarplus.ca on or before February 19, 2026. An electronic or paper copy of the Prospectus Supplement, Shelf Prospectus, and any amendment to such documents may be obtained, without charge, from Beacon Securities Limited at syndication@beaconsecurities.ca, BMO Capital Markets at Brampton Distribution Centre C/O The Data Group of Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2 by telephone at 905-791-3151 Ext 4312 or by email at torbramwarehouse@datagroup.ca., by providing the contact with an email address or address, as applicable.Australian OfferingMarimaca has entered into an agreement with the Joint Lead Managers (defined below) to complete a brokered placement of CDIs. The Australian Offering consists of an Australian Secondary Offering of existing CDIs, owned and controlled by certain Selling Shareholders, for A$157 million. The CDIs will be offered in Australia to professional investors or sophisticated investors who are also "wholesale clients" (within the meaning of sections 708(11), 708(10), 708(8) and 761G of the Australian Corporations Act respectively); in the United States to QIBs and Eligible US Fund Managers; and outside Australia and the United States to certain institutional, sophisticated or professional investors in Bermuda, Brazil, Cayman Islands, European Union (excluding Austria), Hong Kong, New Zealand, Malaysia, Norway, Singapore, South Africa, Switzerland, Israel, United Arab Emirates (excluding financial centres), and United Kingdom.Retained InterestPrior to the closing of the Global Offering, the Greenstone Group owns and controls 14,304,285 Common Shares and 8,000,000 CDIs, representing approximately 18.58% of the Company's issued and outstanding Common Shares and CDIs (in aggregate). Following the closing of the Global Offering, assuming it is fully subscribed, the Greenstone Group will beneficially own and control 2,255,198 Common Shares and 6,351,806 CDIs, representing 6.44% of the outstanding Common Shares and CDIs (in aggregate) and a decrease in ownership and control by the Greenstone Group of 13,697,281 Common Shares and CDIs (in aggregate).As part of the Global Offering, the Selling Shareholders have agreed, subject to certain limited exceptions, not to sell any Common Shares or CDIs for a 90 day period.Use of FundsThe net proceeds from the Canadian Treasury Offering will be used to advance the Marimaca Project, including funding the pre-construction decision engineering workstreams and early site works, to conduct a drilling campaign at Pampa Medina and for working capital and general corporate purposes.The net proceeds of the Secondary Offering will be payable to the Selling Shareholders. The Company will not receive any proceeds from the Secondary Offering.Indicative TimetableAn indicative timetable for the Global Offering is included below:Indicative Timetable
EventTime / Date
(AEST)Time/Date
(EST)Trading Halt lifted and return to trading on ASX(*)Thursday, 19 February 2026Wednesday, 18 February 2026Canadian Offering settlement and issuance of Common SharesThursday, 26 February 2026Thursday, 26 February 2026Allotment of CDIs under Australian OfferingFriday, 27 February 2026Thursday, 26 February 2026 (*) Due to time zone difference between Sydney (AEST) and Toronto (EST), the trading halt on the ASX will be lifted prior to 10am AEST on Thursday, February 19 or 7pm EST on Wednesday, February 18.The dates and times noted above are indicative only and subject to change. Any material changes will be notified by the Company to the TSX and ASX, as required. The Company reserves the right to amend any or all of the above dates and times. AgentsBeacon Securities Limited and BMO Capital Markets are acting as co-lead agents and joint bookrunners (the "Canadian Co-Lead Agents") and co-managed with National Bank Financial Inc., on behalf of a syndicate of agents (the "Agents") for the Canadian Offering.Euroz Hartleys Limited and Canaccord Genuity (Australia) Limited (the "Australian Co-Lead Agents" and, together with the Canadian Co-Lead Agents, the "Joint Lead Managers") are acting as lead managers and joint bookrunners for the Australian Offering.U.S. Securities Act DisclaimerThe securities under the Canadian Offering and the Australian Offering have not been, and will not be, registered under the U.S. Securities Act or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly, in the United States (as such term is defined in Regulation S under the U.S. Securities Act), except pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or solicitation of an offer to buy any of these securities in the United States or in any jurisdiction in which such offer, solicitation or sale is not permitted.About Marimaca Marimaca is a copper exploration and development company focused on its 100%-owned flagship Marimaca Copper Project and surrounding exploration properties located in Antofagasta Region, Chile. The Marimaca Copper Project hosts the Marimaca Oxide Deposit (the "MOD"), an IOCG-type copper deposit. The Company is currently progressing the Marimaca Copper Project through detailed engineering and submission for sectorial permits following the release of the 2025 MOD DFS and receipt of the RCA. In parallel, the Company is exploring its extensive land package in the Antofagasta region, including the >15,000ha wholly-owned Sierra de Medina property block, located 25km from the MOD. The Company is currently completing a Phase II drilling program (30,000m) at Pampa Medina, located in the Sierra de Medina property, after a successful discovery drilling program in 2025 identified a high-grade sedimentary horizon at depth.This news release is authorized for release by the Board of Directors of Marimaca.Contact InformationFor further information please visit www.marimaca.com or contact:Tavistock
+44 (0) 207 920 3150
Emily Moss
marimaca@tavistock.co.ukForward-Looking StatementsThis news release includes certain "forward-looking statements" under applicable Canadian securities legislation, including statements related to the anticipated participation in and size of the Canadian Offering or Australian Offering, anticipated timing and closing date of the Canadian Offering or Australian Offering, advisory fees payable, the use of proceeds and receipt of regulatory approvals and other approvals, including approval of the TSX. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Marimaca, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks related to the receipt of required regulatory approvals, including timing of approval by the TSX, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project delays or cost overruns or unanticipated excessive operating costs and expenses, uncertainties related to the necessity of financing, uncertainties relating to regulatory procedure and timing for permitting reviews, the availability of and costs of financing needed in the future. The intended use of the proceeds of the Global Offering by the Company might change if the board of directors of the Company determines that it would be in the best interests of the Company and amounts actually allocated and spent will depend on a number of factors, including the Company's ability to execute on its business plan. Many of these risks and uncertainties and additional risk factors generally applicable to the Company are described in the Company's annual information form of the Company dated March 27, 2025 and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed at www.sedarplus.ca). Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein, whether as a result of new information or future events or otherwise, except as may be required by law.None of the TSX, ASX or the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this release.[1] Based on an AUD.CAD exchange rate of 0.9661.[2] Cash at February 17, 2026 plus gross proceeds anticipated from the Global Offering.Not for release to United States news wire services or for dissemination in the United StatesTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/284335
Original: Marimaca Copper Completes Bookbuild for C$409 Million (~ A$423 Million)
MasterT
12年前
Coro Signs Definitive Agreement For San Jorge
October 24 , Coro Mining Corp. ("Coro" or the "Company") (TSX Symbol: COP) is pleased to announce that, further to its news release of December 9 2013, it has signed a Definitive Agreement ("DA") with a group comprised of Aterra Investments Ltd. ("Aterra") and Solway Industries Ltd. ("Solway"), (collectively, the "Group") for them to acquire an interest in the Company's San Jorge project (the "Project"), located in the province of Mendoza, Argentina. The Group may acquire a 70% interest in the Project, with the provision for an early buy-out of Coro's interest subject to Coro's retention of a 2.5% Net Smelter Return ("NSR") on the production of all payable metals from the Project, except gold.
Alan Stephens, President and CEO of Coro commented, "We are pleased to have concluded this Definitive Agreement with our partners, Solway and Aterra, who have been operating Minera San Jorge and funding the Project since we signed a Heads of Agreement with them last December. We look forward to them successfully obtaining the outstanding environmental permissions for San Jorge and developing it, which would allow our shareholders to benefit, either through our 30% ownership interest or from the proceeds of a valuable NSR."
"Coro's strategy is to own significant interests in a number of copper development projects that can be brought into production quickly and cheaply. These currently include our anticipated 50% interest in the Berta project, which we expect to be in production in 2015; our option to acquire a 65% interest in the Planta Prat project; and our option to acquire a 75% interest in the Marimaca project, all located in Chile. Our objective is to be a self-funding copper growth company, and retention of a significant interest in San Jorge fits well within this strategy. "
"We are pleased to continue our cooperation with Coro Mining Corp. on the San Jorge Project in Mendoza. I believe that Solway Investment Group's expertise in managing projects of this scale in developed agricultural regions, together with Coro's knowledge of the Project and Aterra's well-balanced investment strategy will produce a very successful outcome. Our objective is to create an up to date, modernized, ecologically safe and well-maintained business that will secure a high level of employment and significant tax return to the region", said Dan Bronstein, CEO of Solway Investment Group.
Principal Terms of the DA
The Group may acquire a 70% interest in the Project by; paying Coro US$200,000 (paid), US$33,000 on signing the DA, US$300,000 within 6 months from signing the DA, US$500,000 within 12 months from signing the DA, and US$500,000 within 24 months from signing the DA; funding all of the costs required to advance the Project to the Exercise Date, including an independent, bankable Definitive Feasibility Study, completed to NI43-101 standards ("the BFS"); keeping the Project and Minera San Jorge in good standing; and, prior to the Exercise Date, paying all of the advance royalty payments pursuant to the underlying San Jorge Purchase and Royalty Agreements between Coro and its subsidiaries, and Franco-Nevada Corporation and Franco-Nevada LRC Holdings Corp (together "Franco-Nevada").
The Exercise Date is the date that the Group informs Coro of its decision to place the Project into commercial production or the completion of the BFS.
The Group will be Operator for the duration of the Option Period.
After the Exercise Date, the parties shall finance the further development of the Project pro-rata to their interest in the Project. In the event that Coro elects not to contribute its 30% share of the costs of further development of the Project, its interest will be subject to dilution. In the event that Coro's interest is diluted to 10%, its interest shall immediately be converted to a 2% NSR on the production of all metals from the Project, except gold.
The Group has the option to acquire 100% of the Project by paying Coro US$3,000,000 in cash at any time within 6 months from signing the DA or US$5,000,000 in cash at any time within 18 months from signing the DA. The outstanding cash payments referred to above would also become due and payable upon exercise of either of these options to acquire 100% of the Project. In the event that the Group elects to exercise its option to acquire a 100% interest in the Project, Coro will retain a 2.5% NSR on the production of all metals from the Project, except gold.
Prior to the Exercise Date and upon the Group's completion of an expenditure of US$10,000,000 on Project development and other costs, the Group will earn a 50% interest in the Project. If the Group elects not to proceed to the Exercise Date at its sole cost, Coro and the Group shall form a 50/50 Joint Venture and may elect to fund the outstanding Project costs on a pro-rata basis, with both Parties being subject to dilution. In the event that either Party's interest is diluted to 10%, its interest shall immediately be converted to a 2% NSR on the production of all metals from the Project, except gold.
Franco-Nevada has granted consent, as required under the underlying San Jorge Purchase and Royalty Agreements, to the execution of the DA and the acquisition of any party's interest in the Project remains subject to the underlying San Jorge Purchase and Royalty agreements with Franco-Nevada.
About Aterra Investments Ltd
Aterra Investments Ltd is a privately-held, investment management firm, which invests in metals and mining projects from late stage exploration to pre-production. Aterra's investment portfolio is geographically diversified with projects in both developed countries and frontier regions and includes more than 10 exploration, development and producing companies. Commodity focus includes copper, silver, phosphates, zinc, lead, diamonds and mineral sands.
About Solway Industries Ltd.
Solway Industries Ltd. is a subsidiary of the Solway Investment Group that comprises a number of core investments and operations focused primarily on the metals and mining sector, on nickel mining and production particularly. The Group also manages its own direct investment fund with the main interests in commercial real estate and information technologies. The Group conducts operations in Central and Eastern Europe, Ukraine, Central America and South East Asia.
About Coro Mining Corp.
Coro's strategy is to grow a mining business through the discovery, development and operation of "Coro type" deposits. These are defined as projects at whatever stage of development, that are well located with respect to infrastructure and water, which have low permitting risk, and which have the potential to achieve a short and cost effective timeline to production. Our preference is for open pit heap leach copper projects, where we will seek to minimise capital investment rather than maximise NPV, where we will prioritise profitability over production rate, and finally, where the likely capital cost is financeable relative to our market capitalization. Partners will be sought for any attractive projects identified that we do not have the financial capacity to develop alone. Coro's properties include the Berta pre-production project, the Planta Prat copper development project, the Celeste Sur iron ore project and the Marimaca & Llancahue copper exploration prospects, all located in Chile, and the advanced San Jorge copper-gold project located in Argentina/
CORO MINING CORP.
"Alan Stephens"
Alan Stephens
President and CEO
For further information please visit the Company's website at www.coromining.com or contact Michael Philpot, Executive Vice-President at (604) 682 5546 or investor.info@coromining.com
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to the prices of copper, estimated future production, estimated costs of future production, permitting time lines, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of copper, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's documents filed from time to time with the securities regulators in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador.
MasterT
12年前
October 23, 2014
Coro Announces Approval Of Berta Project Environmental Impact Declaration
October 23 2014, Coro Mining Corp. ("Coro" or the "Company") (TSX Symbol: COP) is pleased to announce that the Evaluation Commission of the Atacama Region of Chile, part of the Chilean Environmental Evaluation Service (in Spanish, "SEA"), has approved the Environmental Impact Declaration ("EID") of the Berta copper project ("the Project") and has emitted the corresponding Resolution of Environmental Qualification (in Spanish, "RCA"). The Project is located in the III Region of Chile and is owned by SCM Berta ("SCMB") a Chilean company whose shareholders are Coro and ProPipe SA ("ProPipe"), an engineering firm based in Santiago, Chile.
As announced in the Company's news release NR14-10 on September 3 2014, SCMB and Inmobiliaria y Constructora Fundart Ltda ("Fundart"), a local construction group, have executed a Memorandum of Understanding ("MOU") which provides US$15m of debt financing for the development of the Berta copper resource, located approximately 20km west of the village of Inca de Oro and for the acquisition of the Nora solvent extraction and electro winning ("SXEW") plant, located 4km north of the town of Diego de Almagro and 42km north of Berta. Successful completion of the debt financing and planned acquisition of the Nora plant will increase ProPipe's interest in SCMB to 50%. In our news release NR14-12 on September 15 2014, the Company announced the positive conclusions of a Preliminary Economic Assessment for the Project which is expected to produce 38kt of copper cathode over a mine life of 8 years, generating an after tax IRR of 46.9% and an NPV 8% of US$26.6m.
Alan Stephens, President and CEO of Coro commented, "We are delighted to have achieved this important milestone in the development of the Berta project, with the SCMB environmental team led by Marcelo Cortes, Coro's VP Development, having done an excellent job in delivering a fully approved EID in less than 12 months. We now look forward to closing the loan financing and taking possession of the Nora plant. In that regard, we have been advised that the time needed to transfer the required surface title and environmental permits from the previous owners of Nora to SCMB will extend beyond our original estimated closing date of October 22 2014."
About SCMB
SCMB is owned 87% by Coro and 13% by ProPipe. Upon filing of the NI43-101 Compliant Technical report for the PEA, ProPipe will increase their ownership to 18%. Upon the successful closing of the non-recourse $15m financing for the development of the Berta copper resources and Nora SXEW plant they will increase their interest in SCMB to 50%.
About Fundart
Fundart is a Chilean construction group formed in 1996 by the architect Patricio Rodriguez Bass. Since then, it has completed over 400 construction projects with a total of 700,000 square metres built in a variety of works throughout Chile. The principal areas of activities include the construction of apartment buildings, housing and retail complexes, and commercial buildings as well as development and construction projects in the copper mining industry. Fundart employs 40 professional staff and has a workforce of more than 700 who have been well trained to implement the latest generation of construction technology and processes.
About ProPipe
ProPipe is a Chilean supplier of consultancy, engineering and project management services to its customers in the mining process, infrastructure and environment markets. ProPipe has relevant experience in conceptual and basic design, preliminary feasibility and feasibilities studies, and detailed engineering for mining companies in Chile. Some of its principal clients are BHP Billiton (Minera Escondida), Antofagasta Minerals (Minera Los Pelambres, Minera El Tesoro, and Minera Esperanza), Minera Las Cenizas and Algorta Norte. ProPipe's recent projects include the Camarones 7,000tpy copper cathode plant, the Algorta Norte 78 km sea water pipeline, and Minera Escondida's Coloso filter plant expansion project.
About Coro
Coro's strategy is to grow a mining business through the discovery, development and operation of "Coro type" deposits. These are defined as projects at whatever stage of development, that are well located with respect to infrastructure and water, which have low permitting risk, and which have the potential to achieve a short and cost effective timeline to production. Our preference is for open pit heap leach copper projects, where we will seek to minimise capital investment rather than maximise NPV, where we will prioritise profitability over production rate, and finally, where the likely capital cost is financeable relative to our market capitalization. Partners will be sought for any attractive projects identified that we do not have the financial capacity to develop alone. Coro's properties include the Berta pre-production project, the Planta Prat copper development project, the Celeste Sur iron ore project and the Marimaca & Llancahue copper exploration prospects, all located in Chile. The advanced San Jorge copper-gold project located in Argentina has been optioned to Aterra Capital and Solway Industries.
CORO MINING CORP.
"Alan Stephens"
Alan Stephens
President and CEO
For further information please visit the Company's website at www.coromining.com or contact Michael Philpot, Executive Vice-President at (604) 682 5546 or investor.info@coromining.com
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to the proposed financing, construction and operation of the Berta project including the acquisition and operation of the Nora plant, metal prices, metallurgical results and resource estimates, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of copper and iron ore, the factual results of current and future exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's documents filed from time to time with the securities regulators in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador.
MasterT
12年前
September 15, 2014
Coro Announces Positive Conclusions from Berta Project Preliminary Economic Assessment
News Release 14-12
September 15 2014, Coro Mining Corp. ("Coro" or the "Company") (TSX Symbol: COP) is pleased to announce the conclusions from the Berta copper project ("the Project") National Instrument 43-101 Technical Report ("the Report") being finalized by independent consultants Geoinvestments SpA ("Geoinvestments") of Santiago, Chile. The Project is located in the III Region of Chile and is owned by SCM Berta ("SCMB") a Chilean company whose shareholders are Coro and ProPipe SA ("ProPipe"), an engineering firm based in Santiago, Chile.
As announced in the Company's news release NR14-10 on September 3 2014, SCMB and Inmobiliaria y Constructora Fundart Ltda ("Fundart"), a local construction group, have executed a Memorandum of Understanding ("MOU") which provides $15m of debt financing for the development of the Berta copper resource, located approximately 20km west of the village of Inca de Oro and for the acquisition of the Nora solvent extraction and electro winning ("SXEW") plant, located 4km north of the town of Diego de Almagro and 42km north of Berta.
The shareholder's agreement between ProPipe and Coro has been executed, and ProPipe's interest in SCMB will increase to 18% with the completion of the Preliminary Economic Assessment ("PEA"). Successful completion of the debt financing and planned acquisition of the Nora plant will further increase this to 50%.
The Report is based on the outcomes of an engineering study completed by Geoinvestments to PEA study standards. The Report includes the resources, open pit mine plan, operating and capital costs and financial analysis for the Project which contemplates the production of an average of 4.8ktpy of copper cathode for a period of 8 years. The Report was prepared in conjunction with the Berta NI 43-101 resource estimate completed by Geoinvestments, as announced in the Company's news release NR13-07 on August 7 2013, and which is available for review on SEDAR at www.sedar.com. All references to $ in this News Release are references to US$.
Conclusions
In pit Measured and Indicated Resources of 17.6mt at 0.37%CuT at a cutoff grade of 0.1%CuT, equivalent to 64kt of contained copper
Open Pit Mine Plan for total copper production of 38.3kt of copper cathode
Mine Life of 8 years
Average production rate of 900ktpy heap leach material plus 830ktpy dump leach material
Base Case copper price of $3.00/lb
Average life of mine cash operating costs of $2.03/lb Cu
Initial capital costs of $15m, including $6.25m fixed fee contract for the Nora plant purchase and expansion, $7m fixed fee contract for the Berta crushing circuit and leach pads construction, and $1.75m of project loan
Base Case pre-tax NPV (8%) of $34.3m with an IRR of 55.2%.
Base Case after tax NPV (8%) of $26.6m with an IRR of 46.9%.
Disclosure and Risks
SCMB was recently presented with the opportunity of acquiring the Nora plant from receivership at a favourable price, which would give SCMB the ability to achieve production earlier than otherwise possible, and with a significantly reduced execution risk and cost. In addition, SCMB was offered a100% debt financing from Fundart including fixed fee, Build-Operate-Transfer ("BOT") contracts for the acquisition of the Nora plant, and for the installation of a crushing circuit and leach pads at Berta. The debt facility would be for a repayable over a period of 5 years commencing with the production of first cathode, with a one year grace period, and would carry interest at 3% over the bank rate charged to Fundart. The Berta crushing circuit and the Nora plant would be owned and operated by Fundart until the debts have been fully paid, at which time ownership would be transferred to SCMB. Fundart would be reimbursed on a cost +10% basis for the provision of labour, spare parts and maintenance during this debt repayment period. The debt facility is anticipated to provide all of the funds required for the Berta/Nora project to produce up to 5ktpy Cu, is non-recourse to Coro and requires no equity contribution from Coro. SCMB elected to accept this financing proposal, has signed an MOU and the financing and plant purchase are expected to close on or before October 22 2014.
Subject to successful completion of this financing, SCMB will have substantially reduced the risks associated with the construction of the Project.
The opportunity to acquire the plant and accept the financing occurred while SCMB was finalizing a PEA for the Project and this has been modified to incorporate the proposed plant acquisition and revised capital and operating costs. There has been insufficient time to complete more detailed engineering studies and so the normal progression from PEA to Preliminary Feasibility Study to Feasibility Study has not been followed. Therefore, investors are cautioned that no mineral reserves have been declared and the level of confidence in the resources, metallurgy, engineering and cost estimation is not at a level normally associated with a project reaching a production decision. This may result in the production rates, copper recoveries and operating costs stated in this PEA not being realized.
Geoinvestment's assessments are preliminary in nature, mineral resources are not mineral reserves and do not have demonstrated economic viability, and there is no assurance the preliminary assessments will be realized. The outcome of this PEA may be materially affected by the closing of the financing, copper pricing, environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that enable them to be categorized as mineral reserves.
Mineral Resources
The resource estimate includes the Berta Sur deposit, and the Berta Central deposits which comprise 5 individual but adjacent deposits which have been subject to prior small scale open pit mining. The resource estimate was completed by Geoinvestments at a variety of total copper ("%CuT") grades, as shown on Table 1, below.
Table 1: Resource Estimate
Berta Project Resource Estimate
Zone Cutoff Measured Indicated Measured & Indicated Inferred
kt % CuT % CuS kt % CuT % CuS kt % CuT % CuS kt % CuT % CuS
Berta Sur & Central 0.10 16,498 0.34 0.23 8,653 0.23 0.14 25,150 0.30 0.20 4,845 0.24 0.15
0.15 13,275 0.39 0.27 5,780 0.27 0.18 19,055 0.36 0.24 3,249 0.30 0.20
0.20 10,487 0.45 0.31 3,336 0.35 0.23 13,822 0.43 0.29 2,039 0.38 0.25
0.25 8,355 0.51 0.36 1,961 0.44 0.30 10,316 0.50 0.35 1,402 0.45 0.31
0.30 6,791 0.56 0.40 1,289 0.52 0.36 8,080 0.56 0.39 932 0.53 0.37
Berta Sur 0.10 10,972 0.32 0.21 4,423 0.18 0.11 15,394 0.28 0.18 2,105 0.18 0.11
0.15 8,853 0.37 0.25 2,800 0.21 0.13 11,653 0.33 0.22 1,296 0.22 0.13
0.20 6,892 0.42 0.29 1,332 0.26 0.16 8,225 0.39 0.27 720 0.26 0.16
0.25 5,385 0.47 0.33 561 0.31 0.20 5,946 0.46 0.32 343 0.29 0.18
0.30 4,288 0.53 0.37 261 0.36 0.24 4,549 0.52 0.36 127 0.33 0.21
Berta Central 0.10 5,526 0.38 0.26 4,230 0.27 0.17 9,756 0.33 0.22 2,740 0.29 0.19
0.15 4,422 0.45 0.31 2,980 0.33 0.22 7,402 0.40 0.27 1,953 0.35 0.24
0.20 3,594 0.51 0.36 2,003 0.41 0.27 5,598 0.47 0.33 1,318 0.44 0.30
0.25 2,969 0.57 0.40 1,401 0.49 0.34 4,370 0.55 0.38 1,059 0.50 0.34
0.30 2,503 0.63 0.45 1,028 0.56 0.39 3,531 0.61 0.43 805 0.57 0.40
In order to demonstrate the potential economic viability of the Berta Sur and Central resources, a series of pit optimizations using the Lersch & Grossmann algorithm was completed utilizing appropriate operating costs, results obtained from metallurgical test work, and a variety of copper prices. For a $3.00/lb copper price, the optimum pits were determined to contain 17.6mt at an average grade of 0.37%CuT and an overall stripping ratio of 0.49:1, as detailed in Table 2, below.
Table 2: In-Pit Resource Estimate based on $3/lb Cu, 0.1%CuT cutoff
Berta Project In Pit Resource
Zone Pit Measured Indicated Measured & Indicated Waste Strip
kt % CuT % CuS kt % CuT % CuS kt % CuT % CuS kt Ratio
Berta Sur Berta Sur 8,929 0.35 0.23 1,427 0.19 0.11 10,356 0.33 0.21 2,609 0.25
Berta Central Trinchera-Salvadora 2,242 0.48 0.30 527 0.47 0.29 2,769 0.48 0.30 2,499 0.90
Carmen-Gemela 982 0.51 0.36 562 0.38 0.26 1,544 0.47 0.32 1,852 1.20
Nueva 219 0.43 0.29 295 0.34 0.22 514 0.38 0.25 375 0.73
Berta II 853 0.37 0.24 150 0.36 0.23 1,003 0.37 0.24 572 0.57
Chico 900 0.30 0.18 518 0.25 0.14 1,418 0.29 0.17 762 0.54
Berta Sur & Central Total 14,125 0.38 0.25 3,479 0.29 0.18 17,604 0.37 0.23 8,669 0.49
Mining, Processing and Production Plan
The Project contemplates an open pit mine to extract oxide material from the Berta Sur and Central deposits using mining contractors, followed by crushing, agglomeration and heap leaching of higher grade (>0.3%CuT) material and dump leaching of lower grade (0.1-0.3%CuT) material. The resulting pregnant leach solution ("PLS") would then be transported by tanker 60km on existing roads to the Nora SXEW plant for recovery of copper cathode. Water and raffinate would be returned by tanker from Nora to Berta. Overall material contained in the mine plan developed by Geoinvestments has 7.22mt of heap leach material, with an average grade of 0.57% CuT and 6.63mt of dump leach material with an average grade of 0.20%CuT.
A total of twelve 2m column tests have been completed on material from Berta Sur at Geomet SA and three 2m columns from Berta Central material at the Hydrometallurgy Laboratory of the University of Santiago de Chile, and this testwork was used to estimate recoveries of 78% of total copper for the heap leach and 45% of total copper for the dump leach material.
The Berta mine plan & cathode production schedule is shown on Table 3, below;
Table 3: Berta Mine Plan
Berta Mine Plan Year Total
1 2 3 4 5 6 7 8
Heap Leach Mined, kt 992 978 942 958 921 626 985 821 7,223
CuT% 0.50 0.50 0.56 0.57 0.57 0.92 0.59 0.50 0.57
CuS% 0.35 0.36 0.39 0.41 0.40 0.65 0.42 0.36 0.41
Recovery, % 78 78 78 78 78 78 78 78 78
Cathode, kt 3.9 3.9 4.1 4.3 4.1 4.5 4.5 3.2 32.4
Dump Leach Mined, kt 1,187 1,219 935 688 873 520 428 782 6,632
CuT% 0.20 0.20 0.20 0.21 0.19 0.19 0.21 0.20 0.20
CuS% 0.12 0.12 0.12 0.13 0.11 0.11 0.13 0.12 0.12
Recovery, % 45 45 45 45 45 45 45 45 45
Cathode, kt 1.1 1.1 0.9 0.7 0.7 0.4 0.4 0.7 6.0
Waste Strip Ratio 0.43 0.16 0.10 0.06 1.16 1.62 0.72 0.41 0.52
Waste, kt 933 360 187 103 2,081 1,857 1,012 653 7,186
Total Mined, kt 3,112 2,557 2,064 1,749 3,875 3,003 2,425 2,256 21,041
Cathode, kt 4.9 5.0 4.9 5.0 4.8 4.9 4.9 3.9 38.3
Operating Costs
Operating cost estimates reflect the current market environment in northern Chile for contract mining, crushing, sulphuric acid, power supply, cathode production by SXEW, and transportation of PLS and water, and are shown on Table 4, below.
Major operating cost components are sulphuric acid at $105/t, water at $0.25/m3 and power at $280/MW for Berta (generators) and $150/MW for Nora (connected to grid).
Table 4: Life of Mine Operating Costs
Life of Mine Operating Cost LOM $m LOM $/lb
Mining $51.4 $0.61
Processing $92.9 $1.10
PLS Transport $19.9 $0.24
G&A $7.4 $0.09
Cash Cost C1 $171.7 $2.03
Capital Costs
SCMB is in the process of closing the acquisition of the Nora plant and obtaining $15m of debt financing, on or before October 22 2014 to complete the following capital expenditures;
Nora Plant Purchase and Expansion; $6.25m fixed fee BOT contract to cover the purchase price and the expansion from 3,000tpy to 5,000tpy copper cathode of the SXEW circuit
Berta Crushing Circuit and Pads construction; $7m fixed fee BOT contract to cover the installation of a 1mtpy crusher and agglomerator, heap and dump leach pads, and associated piping, ponds, electrics and infrastructure
A project loan; $1.75m, including $0.25m which has been advanced as an option payment to the Berta claim owner
Pre- Financing Financial Analysis
The Project has been evaluated on both a pre-tax basis and after all Chilean taxes and a 1.5% royalty due to the Berta claim owner at a base case copper price of $3.00/lb and for sensitivity, at prices of $3.30/lb and $2.70/lb as shown on Table 5.
Table 5: Berta Economic Evaluation Summary
Cu Price $3.30/lb $3.00/lb $2.70/lb
NPV Pre tax After tax Pre tax After tax Pre tax After tax
5% $60.8 $48.0 $41.5 $32.6 $22.2 $17.1
8% $51.0 $40.0 $34.3 $26.6 $17.6 $13.2
10% $45.5 $35.5 $30.2 $23.3 $14.9 $11.0
IRR 75.8% 64.0% 55.2% 46.9% 33.7% 28.8%
Project Upsides
The spent ore stockpile from the previous period of plant operation at Nora contains potentially recoverable copper and SCMB has also identified some potentially available dump material within trucking distance of the plant, both of which will be evaluated as feed for the plant in early 2015 while Berta is being developed. However, this economic evaluation assumes that there will be no copper production at the Nora plant until the Berta facilities have been installed.
SCMB will also evaluate alternatives to trucking water, raffinate and PLS between Nora and Berta, including installing a pipeline between them.
Berta NI43-101 Technical Report
Geoinvestments managed the preparation of the Report which will be completed and filed on SEDAR and Coro's web site within 45 days of this release. All principal technical personnel and Qualified Persons ("QP") participating in the development and review of this Report have extensive relevant experience.
The QP responsible for the independent resource estimate at Berta was Sergio Alvarado, a consultant geologist with more than 27 years of experience and general manager and partner of Geoinvestments SpA. He is a member of CIM, the Chilean Mining Commission, and the Instituto de Ingenieros de Minas de Chile. The information that relates to geology, mineralization, drilling, and mineral resource estimates on the Berta deposit, is based on information prepared under the supervision of, or has been reviewed by Sergio Rivera, Vice President of Exploration, Coro Mining Corp, a geologist with more than 30 years of experience and a member of the Colegio de Geologos de Chile and of the Instituto de Ingenieros de Minas de Chile and a QP. Jaime Simpson, a metallurgical engineer with more than 25 years of experience and employed by ProPipe as Development and Research Manager, was responsible for supervising the metallurgical test work and estimated the copper recoveries. Victor Araya, a civil mechanical engineer with over 15 years of experience in project development and management, and a board member of ProPipe and partner companies, was responsible for the engineering design and capital cost estimates. Oscar Rosas, a metallurgical engineer with more than 27 years of experience and General Manager of SCM Berta was responsible for the operating cost estimates and the financial analysis reported herein. Sergio Alvarado was responsible for the overall compilation of the PEA Study, is the QP for purposes of National Instrument 43-101, and has approved the Information contained in this News Release. Alan Stephens FIMMM, President and CEO of Coro, a geologist with more than 39 years of industry experience is the QP for Coro who has reviewed and approved the contents of this News Release.
The technical information has been included herein with the consent and prior review of the above noted QPs, who have verified the data disclosed, including sampling, analytical and test data underlying the information or opinions contained herein.
All mineral resources have been estimated in accordance with the definition standards on mineral resources and mineral reserves of the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") referred to in National Instrument 43-101, commonly referred to as NI 43-101. U.S. reporting requirements for disclosure of mineral properties are governed by the United States Securities and Exchange Commission ("SEC") Industry Guide 7. Canadian and Guide 7 standards are substantially different. This News Release uses the terms "measured," "indicated" and "inferred" resources. We advise investors that while those terms are recognized and required by Canadian regulations, the SEC does not recognize them. Mineral resources which are not mineral reserves do not have demonstrated economic viability.
About Fundart
Fundart is a Chilean construction group formed in 1996 by the architect Patricio Rodriguez Bass. Since then, it has completed over 400 construction projects with a total of 700,000 square metres built in a variety of works throughout Chile. The principal areas of activities include the construction of apartment buildings, housing and retail complexes, and commercial buildings as well as development and construction projects in the copper mining industry. Fundart employs 40 professional staff and has a workforce of more than 700 who have been well trained to implement the latest generation of construction technology and processes.
About ProPipe
ProPipe is a Chilean supplier of consultancy, engineering and project management services to its customers in the mining process, infrastructure and environment markets. ProPipe have relevant experience in conceptual and basic design, preliminary feasibility and feasibilities studies, and detailed engineering for mining companies in Chile. Some of its principal clients are BHP Billiton (Minera Escondida), Antofagasta Minerals (Minera Los Pelambres, Minera El Tesoro, and Minera Esperanza), Minera Las Cenizas and Algorta Norte. ProPipe's recent projects include the Camarones 7,000tpy copper cathode plant, the Algorta Norte 78 km sea water pipeline, and Minera Escondida's Coloso filter plant expansion project.
About Coro
Coro's strategy is to grow a mining business through the discovery, development and operation of "Coro type" deposits. These are defined as projects at whatever stage of development, that are well located with respect to infrastructure and water, which have low permitting risk, and which have the potential to achieve a short and cost effective timeline to production. Our preference is for open pit heap leach copper projects, where we will seek to minimise capital investment rather than maximise NPV, where we will prioritise profitability over production rate, and finally, where the likely capital cost is financeable relative to our market capitalization. Partners will be sought for any attractive projects identified that we do not have the financial capacity to develop alone. Coro's properties include the Berta pre-production project, the Planta Prat copper development project, the Celeste Sur iron ore project and the Marimaca & Llancahue copper exploration prospects, all located in Chile. The advanced San Jorge copper-gold project located in Argentina has been optioned to Aterra Capital and Solway Industries.
CORO MINING CORP.
"Alan Stephens"
Alan Stephens
President and CEO
For further information please visit the Company's website at www.coromining.com or contact Michael Philpot, Executive Vice-President at (604) 682 5546 or investor.info@coromining.com
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to the proposed financing, construction and operation of the Berta project including the acquisition and operation of the Nora plant, metal prices, metallurgical results and resource estimates, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual price of copper, the factual results of current and future exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's documents filed from time to time with the securities regulators in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador.
MasterT
12年前
September 08, 2014
Coro Announces Results From Its Celeste Sur Iron Ore Project
September 8 2014, Coro Mining Corp. ("Coro" or the "Company") (TSX Symbol: COP) is pleased to announce it has received encouraging results from initial mapping, surface sampling, and test work of its 100% owned Celeste Sur iron ore project, located 55km NE of the port of Chañaral, in the III Region of Chile. The location of Celeste Sur is shown on Figure 1.
Alan Stephens, President and CEO of Coro commented, "We are very encouraged by the results of this initial surface sampling and mapping program, from which we have developed a potential target of 5-10mt at 40-50% Fe. This could be capable of sustaining an operation to produce Fe concentrate, using a simple, low cost, dry crushing and magnetic separation process route, enhanced by its proximity to a port with existing concentrate handling facilities. We plan to advance Celeste Sur over the coming 12 months by completing a drilling campaign, resource estimate, further test work, environmental baseline studies and a Preliminary Economic Assessment."
Mapping, Sampling and Test Work
Outcropping iron mineralization occurs as massive, breccia hosted and stockwork magnetite located within structural splays off the Atacama Fault Zone and has previously been mined to depths of 10m or less. The principal target is the Central Body which outcrops over a length of 500m and is approximately 40m wide, while similar style mineralization occurs in the NW Veins and Stockworks zones, as shown on Figure 2. The average of 32 rock samples taken from the old workings was 52% Fe, while the average of 118 samples of the waste dumps derived from these old workings, was 40% Fe.
Preliminary Davis Tube magnetic separation test work was carried out on assay pulps from 7 rock samples and 3 dump samples; range 23% to 64.9% Fe, average 43.6% Fe. Good concentrate assays were obtained for all samples; range 67.6% to 71.1% Fe, average 69.7% Fe, and contaminant elements in the concentrate were all below penalty limits, except for 1 sample with slightly elevated phosphorus content.
The potential tonnage and grade noted previously is conceptual in nature as there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the Celeste Sur target being delineated as a mineral resource.
Chacay Payment
Coro has received US$323k as part payment of the outstanding US$500k from the previously announced sale of the Chacay property in 2013, and anticipates receiving the balance in the next few weeks.
About Coro
Coro's strategy is to grow a mining business through the discovery, development and operation of "Coro type" deposits. These are defined as projects at whatever stage of development, that are well located with respect to infrastructure and water, which have low permitting risk, and which have the potential to achieve a short and cost effective timeline to production. Our preference is for open pit heap leach copper projects, where we will seek to minimise capital investment rather than maximise NPV, where we will prioritise profitability over production rate, and finally, where the likely capital cost is financeable relative to our market capitalization. Partners will be sought for any attractive projects identified that we do not have the financial capacity to develop alone. Coro's properties include the Berta pre-production project, the Planta Prat copper development project, the Celeste Sur iron ore project and the Marimaca & Llancahue copper exploration prospects, all located in Chile. The advanced San Jorge copper-gold project located in Argentina has been optioned to Aterra Capital and Solway Industries.
Celeste Sur Sample Collection, Preparation, Assaying and Test Work
Celeste Sur rock samples were collected by Coro personnel as continuous chips perpendicular to the strike of the mineralization, and were located to representatively sample the various types of mineralization and their attendant grade ranges. Each sample weighed approximately 14kg. Dump samples were taken from all of the significant dumps on the property and were taken to be as representative as possible, again with each sample weighing approximately 14kg. All samples were transported by Coro personnel to the Andes Analytical Assaying ("AAA") laboratory for preparation which comprised drying, crushing, quartering and pulverizing to 500g. All sample pulps were assayed for Fe, Al, S, and P by multi acid digestion followed by ICP. A total of 10 of these sample pulps were selected as a representative Fe grade range and underwent Davis Tube test work at AAA to separate the magnetic fraction and the resulting concentrate assayed for Fe, P, S, Al2O3, Mn, SiO2, TiO2, V, K2O, Mg, Na2O, As, Ca, Cr, Cu, Pb, and Zn by multi acid digestion and ICP.
Sergio Rivera, Vice President of Exploration, Coro Mining Corp, a geologist with more than 31 years of experience and a member of the Colegio de Geologos de Chile and of the Instituto de Ingenieros de Minas de Chile, was responsible for the design and execution of the exploration program and is the Qualified Person for the purposes of NI 43-101. Alan Stephens, FIMMM, President and CEO, of Coro Mining Corp, a geologist with more than 38 years of experience, and a Qualified Person for the purposes of NI 43-101, is responsible for the contents of this news release.
CORO MINING CORP.
"Alan Stephens"
Alan Stephens
President and CEO
For further information please visit the Company's website at www.coromining.com or contact Michael Philpot, Executive Vice-President at (604) 682 5546 or investor.info@coromining.com
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to metal prices, metallurgical results and resource estimates, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual price of iron, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's documents filed from time to time with the securities regulators in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador.
Figure 1; Location of Celeste Sur
Figure 2; Mineralization at Celeste Sur
MasterT
12年前
September 03, 2014
Coro Announces Debt Financing And Acquisition Of Processing Plant For Development Of The Berta Project
September 3 2014, Coro Mining Corp. ("Coro" or the "Company") (TSX Symbol: COP) is pleased to announce that its subsidiary, SCM Berta S.A. ("SCMB") and Inmobiliaria y Constructora Fundart Ltda ("Fundart"), a local construction group, have executed a Memorandum of Understanding ("MOU") which provides US$15m of debt financing for the development of the Berta copper leach project, located approximately 20km west of the village of Inca de Oro, in the III Region of Chile. SCMB has also agreed to acquire the Nora SXEW processing plant, located 4km north of the town of Diego de Almagro and 42km north of Berta, from a local company in administration for 2.5 billion Chilean pesos (approximately US$4.5m). The locations of Berta and Nora are shown on Figure 1.
Alan Stephens, President and CEO of Coro commented, "We are delighted that SCMB has obtained this debt facility and is acquiring the Nora plant on favourable terms. Successful completion of the development of Berta and expansion of Nora will result in Coro achieving its founding corporate objective of becoming a producing mining company. We look forward to completing the acquisition of the Nora plant and the finalization of the loan documentation in October and to initiating the ramp up of copper cathode production in early 2015. "
Background
SCM Berta has been in discussions with the owners of a third party SXEW plant with a view to selling pregnant leach solution ("PLS") to them. The opportunity recently arose to purchase the existing Nora SXEW plant at a good price from a company in administration and so enable SCM Berta to produce copper cathode directly without being tied to a third party for PLS treatment or water supply. SCMB intends to expand the SXEW circuit of the Nora plant from 3ktpy to 5ktpy copper cathode and install a crushing circuit and leach pads at Berta. Longer term, the establishment of leach pads at Berta and Nora will provide the scalability for SCMB to identify additional leachable resources within trucking distance of both and thereby extend the life of the operation or expand it. No modification will be required to the existing Environmental Impact Declaration for Berta which is anticipated to be granted shortly, and the Nora plant is fully permitted.
Debt Financing and Plant Purchase
The Nora plant purchase was secured by a bank guarantee of 5% of the purchase price paid on August 29 2014, with the balance payable on or before October 22 2014.
The debt financing, which totals US$15m, will be structured as follows;
Nora Plant Purchase and Expansion; US$6.25m fixed fee Build-Operate-Transfer ("BOT") contract to cover the purchase price and the expansion from 3ktpy to 5ktpy copper cathode of the SXEW circuit
Berta Crushing Circuit and Pads construction; US$7m fixed fee BOT contract to cover the installation of a 1mtpy crusher and agglomerator, heap and dump leach pads, and associated piping, ponds, electrics and infrastructure
A project loan; US$1.75m
The US$15m debt facility will be repayable over a period of 5 years commencing with the production of first cathode, with a one year grace period, and will carry interest at 3% over the bank rate charged to Fundart
The Berta Crushing Circuit and the Nora Plant will be owned and operated by Fundart until the debts have been fully paid, at which time ownership will be transferred to SCMB. Fundart will be reimbursed on a cost +10% basis for the provision of labour, spare parts and maintenance during this debt repayment period.
This debt facility is anticipated to provide all of the funds required for the Berta/Nora project to produce 5ktpy Cu and is non-recourse to Coro
Preliminary Economic Assessment
A Preliminary Economic Assessment ("PEA") for the combined Berta/Nora project is being finalized by ProPipe SA ("ProPipe"), which currently owns 13% of SCMB, and will be released shortly. Completion of this PEA will increase ProPipe's interest to 18% in SCMB and successful completion of the debt financing and plant purchase will further increase this to 50%. ProPipe will be Operators of SCMB. The PEA is based on the trucking of water from Nora to Berta and PLS to Nora; consideration will be given to permitting and installing a PLS pipeline in the future.
About Nora
The Nora plant was built in 2009 and comprises a 750ktpy crushing circuit and a 3ktpy SXEW plant with associated heap leach pads, spent ore stockpiles, piping, PLS ponds etc., together with certain mining properties and surface rights. SCMB is acquiring all of these physical assets, which have been maintained in good condition since 2013 when the plant closed, free of debts, liabilities and liens. The plant is fully permitted and these permits will be transferred to Fundart prior to closing on or before October 22 2014. SCMB will enter into new water supply contracts with the previous suppliers to the plant. The spent ore stockpile from the previous period of operation contains potentially recoverable copper and SCMB has also identified some dump material within trucking distance of the plant, both of which will be evaluated as potential feed for the plant in early 2015 while Berta is being developed. Nora is located in an emerging district of major IOCG copper projects, approximately 11km from Capstone's Santo Domingo Cu-Fe-Au flotation project and 10km from Copec's Diego de Almagro Cu leach + Cu-Au flotation project, both of which are in the permitting stage.
About Berta
Berta is a near surface, copper oxide deposit, with mineralization, as defined by drilling, mapping and geochemistry, occurring in three principal areas; Berta Sur, Berta Central and Berta Norte. It is associated with sub-vertical, elongate, porphyry intrusive bodies and related hydrothermal and intrusive breccias, emplaced into a tonalite stock. Oxidation extends from surface to depths of 50m to 100m. Berta Sur comprises a single, coherent body of mineralization that has not been previously mined, while Berta Central comprises several smaller breccia bodies, located immediately north of Berta Sur, which were the focus for previous small scale artisanal copper oxide production. A resource estimate has been completed for Berta Sur and Central. Berta Norte comprises several, discreet, NW oriented zones of mineralization, largely gravel-covered, and potential for additional copper oxide resources is present elsewhere on the property and in the surrounding district.
Coro announced an initial NI43-101 compliant resource estimate for Berta Sur, in its news release dated December 6th 2012 and the results of preliminary metallurgical test work in its news release dated November 5 2012. On May 8 2013, the Company announced that it had signed a Letter of Intent ("LOI") with ProPipe an engineering firm based in Santiago, Chile giving ProPipe the right to earn up to a 50% interest in the Berta property by funding the further development of the project. On August 7 2013, Coro announced an increased resource estimate for Berta together with the results of additional metallurgical test work. The shareholder's agreement for SCM Berta, owned by subsidiaries of Coro and ProPipe, is being finalized.
About Fundart
Fundart is a Chilean construction group formed in 1996 by the architect Patricio Rodriguez Bass. Since then, it has completed over 400 construction projects with a total of 700,000 square metres built in a variety of works throughout Chile. The principal areas of activities include the construction of apartment buildings, housing and retail complexes, and commercial buildings as well as development and construction projects in the copper mining industry. Fundart employs 40 professional staff and has a workforce of more than 700 who have been well trained to implement the latest generation of construction technology and processes.
About ProPipe
ProPipe is a Chilean supplier of consultancy, engineering and project management services to its customers in the mining process, infrastructure and environment markets. ProPipe have relevant experience in conceptual and basic design, preliminary feasibility and feasibilities studies, and detailed engineering for mining companies in Chile. Some of its principal clients are BHP Billiton (Minera Escondida), Antofagasta Minerals (Minera Los Pelambres, Minera El Tesoro, and Minera Esperanza), Minera Las Cenizas and Algorta Norte. ProPipe's recent projects include the Camarones 7ktpy copper cathode plant, the Algorta Norte 78 km sea water pipeline, and Minera Escondida's Coloso filter plant expansion project.
About Coro
Coro's strategy is to grow a mining business through the discovery, development and operation of "Coro type" deposits. These are defined as projects at whatever stage of development, that are well located with respect to infrastructure and water, which have low permitting risk, and which have the potential to achieve a short and cost effective timeline to production. Our preference is for open pit heap leach copper projects, where we will seek to minimise capital investment rather than maximise NPV, where we will prioritise profitability over production rate, and finally, where the likely capital cost is financeable relative to our market capitalization. Partners will be sought for any attractive projects identified that we do not have the financial capacity to develop alone. Coro's properties include the Berta copper development project, the Planta Prat copper development project, the Celeste Sur iron ore project and the Marimaca & Llancahue copper exploration prospects, all located in Chile. The advanced San Jorge copper-gold project located in Argentina has been optioned to Aterra Capital and Solway Industries.
Alan Stephens, FIMMM, President and CEO, of Coro Mining Corp, a geologist with more than 39 years of experience, and a Qualified Person for the purposes of NI 43-101, is responsible for the contents of this news release.
CORO MINING CORP.
"Alan Stephens"
Alan Stephens
President and CEO
For further information please visit the Company's website at www.coromining.com or contact Michael Philpot, Executive Vice-President at (604) 682 5546 or investor.info@coromining.com
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to metal prices, metallurgical results and resource estimates, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of copper, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, closing of the acquisition of the Nora plant and the accompanying debt facility as described in this news release, as well as those factors disclosed in the Company's documents filed from time to time with the securities regulators in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador.
Figure 1; Location of Berta and Nora
MasterT
15年前
CORO ANNOUNCES APPROVAL OF SAN JORGE PROJECT ENVIRONMENTAL IMPACT STUDY
February 7, 2011, Coro Mining Corp. (“Coro” or the “Company”) (TSX Symbol: COP) is pleased to announce that the San Jorge project Environmental Impact Study (“EIS”) has been approved by the Provincial Government of Mendoza, and that the resulting Environmental Impact Declaration (“EID”) will be submitted to the Provincial Legislature for ratification.
The EID is conditional, inter alia, upon the Company’s Argentinean subsidiary, Minera San Jorge (“MSJ”), complying with the highest standards of environmental protection, control and monitoring prior to, and during the construction and operation of the project, including the requirement for the paste tailings deposit to be made impermeable with a liner. In addition, MSJ will be required to contribute 0.5% of metal sales on an annual basis to an environmental remediation fund, to be recovered upon satisfactory closure of the mine. Finally, MSJ will be required to negotiate the terms of an agreement with the Provincial Government and the Department of Las Heras, where the project is located, whereby MSJ will contribute to a social development fund to benefit the local community. A translated version of the EID will be posted on the Company’s website in due course.
Alan Stephens, President and CEO of Coro commented, “We are delighted that, after an exhaustive and thorough process, the Provincial Government has approved our EIS. We are also pleased that we will have the opportunity to directly fund the social development of the local community of Uspallata and the rest of Las Heras. This satisfactory outcome is the result of more than 2 years of hard work by the Company’s South American team, led by Fabian Gregorio, President of MSJ and Marcelo Cortes, Coro’s VP of Project Development, and we now look forward to the Provincial Legislature ratifying the Government’s decision. Upon ratification, the Company will recommence engineering studies aimed at demonstrating the full potential of San Jorge at industry standard metal prices. ”
About San Jorge:
The San Jorge copper-gold project is located in Mendoza, Argentina. The Company completed an independent Preliminary Economic Assessment (“PEA”), in April 2008 which contemplated production of 39,500 tonnes of copper per annum and 39,000 ounces of gold per annum over a 16 year mine life. The deposit remains open at depth and using a $2.00 per pound copper and $600 per ounce gold price returned an after tax NPV of $220 million, with a capital expenditure of $277 million.
Coro is fully committed to developing San Jorge in such a way that no water resources would be affected by contamination, as required by local and national laws and regulations, and by international best practices. The Company, through its subsidiary, Minera San Jorge, continues to follow a policy of complete transparency and frankness, and has stressed the economic and employment benefits of the project to Argentina, as well as a commitment to exacting industry standards in environmental management, and has invited citizen participation in the environmental monitoring of the operation. The Company has demonstrated its commitment to water conservation through the proposed use of paste tailings, which minimises water usage through recycling. It has committed to train as many local residents as possible for employment in the future operations at San Jorge.
CORO MINING CORP.
“Alan Stephens”
Alan Stephens
President and CEO
Alan Stephens FIMMM, President and CEO of Coro, a geologist with more than 35 years of industry experience is the Qualified Person for Coro who has reviewed and approved the contents of this News Release. In respect of the PEA, it should be noted that mineral resources that are not mineral reserves do not have demonstrated economic viability.
About Coro Mining Corp.:
The Company was founded with the goal of building a mining company focused on medium-sized base and precious metals deposits in Latin America. The Company intends to achieve this through the exploration for, and acquisition of, projects that can be developed and placed into production. Coro’s properties include the advanced San Jorge copper-gold project, in Argentina, and the Chacay, Llancahue and Celeste copper exploration properties located in Chile. The Company is well funded, with approximately $13 million in cash and cash equivalents as at February 7th . It also holds 3,290,353 shares (a 5.2% interest) of Valley High Ventures Ltd, together with 1,525,000 warrants exercisable at $0.65, with a total market value as at February 4th of approximately $6.8 million. (www.valleyhighventures.com).
For further information please visit the Company’s website at www.coromining.com or contact Michael Philpot, Executive Vice-President at (604) 682 5546 or investor.info@coromining.com
MasterT
15年前
CORO ANNOUNCES FAVOURABLE CONCLUSIONS OF ENVIRONMENTAL
COMMISSION FOR DEVELOPMENT OF SAN JORGE
December 30, 2010, Coro Mining Corp. (“Coro” or the “Company”) (TSX Symbol: COP) is pleased to announce that the
Interdisciplinary Commission for the Environmental Evaluation of Mining Projects (“CEIAM” in Spanish) of the Province
of Mendoza has completed its compilation, collation and evaluation of the previously completed sectoral reviews; the
outcome of the public hearing and public consultation process; and the results of additional hydrological studies completed
earlier this year, and has recommended that the EIS be approved by the provincial government. The CEIAM is comprised
of the various entities which completed individual sectoral reviews of the project in 2009 and 2010, together with
representatives of the pertinent Provincial Government ministries.
The recommendation of approval is conditional upon the Company’s Argentinean subsidiary, Minera San Jorge (“MSJ”),
complying with the highest standards of environmental protection, control and monitoring prior to, and during the
construction and operation of the project, including the requirement for the paste tailings deposit to be made impermeable
with a liner. The CEIAM’s report will now be submitted to the Provincial Government for approval, and if approved,
presented to the Provincial House of Deputies and Senate for ratification.
Fabian Gregorio, President of MSJ commented, “We are very pleased that the CEIAM, after several weeks of deliberation,
has pronounced in favour of the project’s development and we now look forward to the Government’s prompt decision. The
strict compliance with stringent environmental control and monitoring recommended by the CEIAM is in full accordance
with MSJ’s stated intention to develop San Jorge with exacting industry standards of environmental management. In
particular, MSJ accepts that the CEIAM’s recommendation that the tailings pond be lined, will provide greater certainty for
the protection of the hydrological resources of the area.”
A local environmental NGO, Oikos, and an individual opposed to the project have filed legal claims requesting that the EIS
approval process be suspended, based on alleged non compliance with certain resolutions and deliberate misinterpretation
of documents. MSJ strongly refutes these allegations, which it considers frivolous, and is evaluating its legal remedies
against both parties. It was anticipated that opponents to the project would resort to last ditch legal efforts to derail the EIS
approval process, but the Company does not believe that they will be successful.
Coro is fully committed to developing San Jorge in such a way that no water resources would be affected by contamination,
as required by local and national laws and regulations, and by international best practices. The Company, through its
subsidiary, Minera San Jorge, continues to follow a policy of complete transparency and frankness, and has stressed the
economic and employment benefits of the project to Argentina, as well as a commitment to exacting industry standards in
environmental management, and has invited citizen participation in the environmental monitoring of the operation. The
Company has demonstrated its commitment to water conservation through the proposed use of paste tailings, which
minimises water usage through recycling. It has committed to train as many local residents as possible for employment in
the future operations at San Jorge.
CORO MINING CORP.
“Alan Stephens”
Alan Stephens
President and CEO
About Coro Mining Corp.:
The Company was founded with the goal of building a mining company focused on medium-sized base and precious metals
deposits in Latin America. The Company intends to achieve this through the exploration for, and acquisition of, projects
that can be developed and placed into production. Coro’s properties include the advanced San Jorge copper-gold project, in
News Release 18-10
Argentina, and the Chacay, Llancahue and Celeste copper exploration properties located in Chile. The Company also holds
3,290,353 shares (a 5.2% interest) in Valley High (www.valleyhighventures.com) and an additional 1.5 million warrants in
Valley High.
For further information please visit the Company’s website at insert-text-here or contact Michael Philpot,
Executive Vice-President at (604) 682 5546 or investor.info@coromining.com
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or
information, including but not limited to those with respect to the prices of copper, estimated future production, estimated costs of future production,
permitting time lines, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements
of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements
or information. Such factors include, among others, the actual prices of copper, the factual results of current exploration, development and mining
activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's documents filed from time
to time with the securities regulators in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia,
Prince Edward Island and Newfoundland and Labrador.
MasterT
16年前
November 22, 2010, Coro Mining Corp. ("Coro" or the "Company") (TSX Symbol:
COP) announces that it has disposed of 5,850,000 shares in Valley High
Ventures Ltd ("Valley High") for gross proceeds of $6.4 million on the Pure
Trading marketplace operated by CNSX Markets Inc.. Subsequent to the
disposition, Coro holds 3,290,353 shares (approximately 5.4% of the issued
and outstanding shares of Valley High) and 1,525,000 warrants. Prior to the
disposition, Coro held 9,140,353 shares and 1,525,000 warrants in Valley
High which as of November 19, 2010 represented approximately 15.0% of the
issued and outstanding shares of Valley High.
Alan Stephens, President and CEO of Coro commented, "This disposition is by
no means a reflection on the potential we see in Valley High, which over the
last twelve months has augmented its management team and continues to
advance and enhance its exploration portfolio. As a shareholder, we will
continue to follow its progress with interest. By selling part of our
shareholding in Valley High, we have ensured that Coro's exploration and
development projects are fully funded in the near term on a non-dilutive
basis to our shareholders. We also plan to significantly increase our
exploration efforts in Chile, focusing on the search for high quality copper
and gold prospects."
The sale of the Valley High shares, combined with the potential proceeds
(approx. $5.6m) from the outstanding in-the-money $0.20 warrants in Coro,
which expire in January & February 2011, would provide a total of $12.0
million in financing for Coro. This will ensure that the Company is
adequately funded to complete a pre-feasibility study and conduct additional
drilling at its advanced San Jorge copper and gold project, located in the
province of Mendoza, Argentina. It also gives Coro sufficient funds to
continue to advance its exploration portfolio in Chile starting with the
recently announced drill campaign at the Chacay copper porphyry project.
This news release is being issued pursuant to Part 3 of National Instrument
62-103 The Early Warning System and Related Take-Over Bid and Insider
Reporting Issues of the Canadian Securities Administrators. A copy of the
report filed by Coro in connection with the disposition of the common shares
is available on Valley High's SEDAR profile, and it can also be obtained
directly from Coro by contacting Michael Philpot, Executive Vice-President,
at 604-682-5546.
CORO MINING CORP.
"Alan Stephens"
Alan Stephens
President and CEO
About Coro Mining Corp.:
The Company was founded with the goal of building a mining company focused
on medium-sized base and precious metals deposits in Latin America. The
Company intends to achieve this through the exploration for, and acquisition
of, projects that can be developed and placed into production. Coro's
properties include the advanced San Jorge copper-gold project, in Argentina,
and the Chacay, Llancahue and Celeste copper exploration properties located
in Chile. The Company also holds 3,290,353 shares (a 5.4% interest) in
Valley High (www.valleyhighventures.com).
For further information please visit the Company's website at
www.coromining.com or contact Michael Philpot, Executive Vice-President at
(604) 682 5546 or investor.info@coromining.com
This news release includes certain "forward-looking statements" under
applicable Canadian securities legislation. Such forward-looking statements
or information, including but not limited to those with respect to the
prices of copper, estimated future production, estimated costs of future
production, permitting time lines, involve known and unknown risks,
uncertainties, and other factors which may cause the actual results,
performance or achievements of the Company to be materially different from
any future results, performance or achievements expressed or implied by such
forward-looking statements or information. Such factors include, among
others, the actual prices of copper, the factual results of current
exploration, development and mining activities, changes in project
parameters as plans continue to be evaluated, as well as those factors
disclosed in the Company's documents filed from time to time with the
securities regulators in the Provinces of British Columbia, Alberta,
Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward
Island and Newfoundland and Labrador.
MasterT
16年前
October 28, 2010, Coro Mining Corp. ("Coro" or the "Company") (TSX Symbol:
COP) is pleased to announce that the Public Hearing to consider the
Company's San Jorge project Environmental Impact Study ("EIS") was held on
October 26th 2010 in Uspallata, the nearest town to the project. The Public
Hearing was the final step in the consultation process prior to the EIS
being submitted to the Provincial Government for approval, and if approved,
presented to the Provincial House of Deputies and Senate for ratification.
Alan Stephens, President and CEO of Coro commented, "We are very pleased
that the Public Hearing has been completed on schedule. It was attended by
more than 2000 individuals and gave the people of Mendoza, and particularly
the residents of Uspallata, the opportunity to express their views about the
development of San Jorge. It was held in an atmosphere of complete calm,
civility and with mutual respect given to opposing opinions.
We would like to express our sincere appreciation to the Provincial
Government for the exemplary manner in which the Hearing was organized and
conducted. Having now completed all of the steps required of it under the
EIS approval process, the Company looks forward to the Government's
decision."
Coro is fully committed to developing San Jorge in such a way that no water
resources would be affected by contamination, as required by local and
national laws and regulations, and by international best practices. The
Company, through its subsidiary, Minera San Jorge, continues to follow a
policy of complete transparency and frankness, and has stressed the economic
and employment benefits of the project to Argentina, as well as a commitment
to exacting industry standards in environmental management, and has invited
citizen participation in the environmental monitoring of the operation. The
Company has demonstrated its commitment to water conservation through the
proposed use of paste tailings, which minimises water usage through
recycling. It has committed to train as many local residents as possible for
employment in the future operations at San Jorge.
CORO MINING CORP.
"Alan Stephens"
Alan Stephens
President and CEO
About San Jorge:
The San Jorge copper-gold project is located in Mendoza, Argentina. The
Company completed an independent Preliminary Economic Assessment ("PEA"), in
April 2008 which contemplated production of 39,500 tonnes of copper per
annum and 39,000 ounces of gold per annum over a 16 year mine life. The
deposit remains open to the west and at depth and using a $2.00 per pound
copper and $600 per ounce gold price returned an after tax NPV of $220
million, with capital expenditures of $277 million.
Alan Stephens FIMMM, President and CEO of Coro, a geologist with more than
33 years of industry experience is the Qualified Person for Coro who has
reviewed and approved the contents of this News Release. In respect of the
PEA, it should be noted that mineral resources that are not mineral reserves
do not have demonstrated economic viability.
About Coro Mining Corp.:
The Company was founded with the goal of building a mining company focused
on medium-sized base and precious metals deposits in Latin America. The
Company intends to achieve this through the exploration for, and acquisition
of, projects that can be developed and placed into production. Coro's
properties include the advanced San Jorge copper-gold project, in Argentina,
and the Chacay, Llancahue and Celeste copper exploration properties located
in Chile. The Company also holds 9,140,353 shares (a 15.3% interest) in
Valley High, which holds the Cordero property in Mexico. (
<http://www.valleyhighventures.com/> www.valleyhighventures.com).
For further information please visit the Company's website at
<http://www.coromining.com> www.coromining.com or contact Michael Philpot,
Executive Vice-President at (604) 682 5546 or investor.info@coromining.com
This news release includes certain "forward-looking statements" under
applicable Canadian securities legislation. Such forward-looking statements
or information, including but not limited to those with respect to the
prices of copper, estimated future production, estimated costs of future
production, permitting time lines, involve known and unknown risks,
uncertainties, and other factors which may cause the actual results,
performance or achievements of the Company to be materially different from
any future results, performance or achievements expressed or implied by such
forward-looking statements or information. Such factors include, among
others, the actual prices of copper, the factual results of current
exploration, development and mining activities, changes in project
parameters as plans continue to be evaluated, as well as those factors
disclosed in the Company's documents filed from time to time with the
securities regulators in the Provinces of British Columbia, Alberta,
Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward
Island and Newfoundland and Labrador.
MasterT
16年前
December 24, 2009
Valley High Completes Non-Brokered Private Placement For Proceeds of $1.575 Million
December 24, 2009, Valley High Ventures Ltd. ("Valley High" or the "Company") (TSX-V Symbol VHV.V) and Coro Mining Corp. ("Coro") (TSX Symbol: COP) are pleased to announce that Valley High has closed its previously announced non-brokered private placement for gross proceeds to the Company of $1,575,000 through the issuance of 3,500,000 units ("Units") Each Unit was priced at $0.45 and comprised one common share and one-half of one transferable common share purchase warrant. Each full warrant entitles the holder to purchase one additional common share of Valley High at a price of $0.65 for a period of 18 months from closing of the private placement.
Further to Coro's new release dated December 22, 2009, Coro subscribed for 3,050,000 Units of Valley High pursuant to the non-brokered private placement.
All securities issued pursuant to the private placement will be subject to a four month hold period under applicable securities laws expiring April 25, 2010. The aggregate net proceeds raised from the issuance of the units under the Company's previously announced brokered offering and this non-brokered offering will be used to fund a proposed exploration program at Cordero and for general working capital purposes.
About Valley High:
Valley High is a Canadian based precious and base metal exploration company with projects located in Mexico, British Columbia and Yukon. The Company's Cordero property in Mexico is being evaluated for large bulk mineable silver, gold, zinc and lead deposits geologically similar to the large Peñasquito deposit currently being developed by Goldcorp Inc. Recent drill results from Cordero include the discovery of a new zone at Pozo de Plata wherein drill hole C09-5 returned 152 metres grading 80.64 g/T Ag, 0.61 g/T Au, 1.41 % Zinc and 1.22% lead. Levon Resources Ltd. has an option to earn a 51% interest in the project by funding exploration work totaling Cdn. $1,250,000 plus their proportion of the underlying option and property maintenance costs.
The Company's Mount Polley project is located in British Columbia adjacent to Imperial Metals Corp.'s ("Imperial") Mt. Polley copper-gold mine. Valley High has recently optioned its interest in one portion of this property, the 37 hectare Boundary Zone, to Imperial in return for a production royalty. Valley High also has an option to acquire a 100% interest in the Flume gold property in the Yukon which is located within the newly recognized White Gold District some 30 kilometres from the new Golden Saddle discovery of Underworld Resources Inc.
About Coro Mining Corp.:
Coro was founded with the goal of building a mining company focused on medium-sized base and precious metals deposits in Latin America. Coro intends to achieve this through the exploration for, and acquisition of, projects that can be developed and placed into production. Coro's core property is the advanced San Jorge copper-gold project, in Argentina, and the Coro holds other earlier stage exploration properties located in Chile.
VALLEY HIGH VENTURES LTD. CORO MINING CORP.
"Robert Cameron" "Alan Stephens"
Robert Cameron Alan Stephens
President and CEO President and CEO
For further information please visit Valley High's website at www.valleyhighventures.com or contact Robert Cameron, at (604) 682 5546.
For further information please visit the Company's website at www.coromining.com or contact Michael Philpot, Executive Vice-President at (604) 682 5546 or investor.info@coromining.com
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to the prices of copper, estimated future production, estimated costs of future production, permitting time lines, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of Valley High to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of copper, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in documents filed from time to time with the securities regulators in the applicable Provinces of British Columbia and Alberta.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
You can view the Next News Releases item: Tue Jan 5, 2010, Coro Announces 88 Metres at 0.47% Copper From Drilling Program at Chacay Property
You can view the Previous News Releases item: Tue Dec 22, 2009, Coro Announces Participation in Valley High Non-Brokered Private Placement
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