Exciting Large-Scale Target in Sulphide Zone Confirmed by Geophysics at Marimaca

VANCOUVER, British Columbia, July 14, 2020 (GLOBE NEWSWIRE) -- Marimaca Copper Corp. (“Marimaca Copper” or the “Company”) (TSX: MARI) is pleased to announce the results of a high resolution, drone mounted, magnetic survey at the Company’s flagship Marimaca Copper Project (“Marimaca” or “the Project”) in Chile. This work follows on from the updated geological interpretation for Marimaca (refer to release 8 June 2020), which indicates strong potential for sulphide mineralization beneath the Marimaca Oxide Deposit (“MOD”).

Highlights

• Large magnetic anomaly, which provides a copper sulphide target for follow-up exploration, located underneath the MOD, within the interpreted extensions of the same structures that host copper mineralization at surface
  — Total volume of the favourable magnetic anomaly is approximately 175 million cubic metres
  — Equivalent to circa 475 million tonnes assuming an average specific gravity of 2.7g/cm³
• Magnetic susceptibility testing of drill samples from Marimaca and a review of key geological and mineralogical features shows strong relationship between chalcopyrite and magnetite mineralization at depth
• Deeper drilling at Marimaca encountered broad zones of higher-grade sulphide material immediately adjacent to, or at the border of, the new interpreted magnetic anomaly
• The next step, prior to drilling, is to confirm the existence of sulphide related to the magnetite bodies by means Induce Polarization / Resistivity lines crossing the magnetic anomaly
• Success of drone mounted magnetic survey provides impetus to extend surveys to cover the area surrounding Marimaca to target potential repetitions of similar style mineralization

The drone mounted magnetic survey identified a significant magnetic anomaly beneath the current MOD, which dips to the east with the same geometry as the interpreted extension of the surface structures that host the copper mineralization at Marimaca. The strong correlation of the magnetic response and the primary sulphide bearing mineralized zones (mainly chalcopyrite), which was identified during the magnetic susceptibility testing of drill samples from Marimaca, provides a clear indication of a major copper sulphide target. The total volume of the magnetic anomaly, as generated by the Geosoft’s Magnetic Vector Inversion modelling method, is approximately 175 million cubic metres, which equates to approximately 475 million tonnes assuming a specific graphic of 2.7g/cm³.