Marimaca Copper Announces Channel Sampling Results at Mercedes Project

Marimaca Copper Corp. has released further findings from channel sampling conducted at the Mercedes target. Mercedes' southernmost point is around 400 meters north of the Marimaca Oxide Deposit.

Chip sampling was conducted at 2 m intervals along access road cut 1000, supplementing previously released channel sampling data from road cut 1050. The latest results indicate the continuation of surface copper oxide mineralization to the northwest inside the Mercedes AOI, which now covers an area of 700m×500m.

Drill rigs are already being transported to the site, with drilling likely to begin shortly and initial findings available in early October. The road cuts 1000 and 1050 will allow access to drill platforms used in the 2024 Mercedes exploration program.

Mercedes is conveniently placed directly next to the MOD to the north. If the 2024 drilling program is successful, the company will explore subsequent drilling and study programs to assess the possibility of incorporating Mercedes into Marimaca’s development strategies.

Highlights

• Samples were gathered at 2 m intervals throughout road cut 1000, located northwest of the previously announced road cut 1050
• Highlights from the new channel sampling results:
  • 298 m @ 0.20 % CuT (incl. internal dilution) including:
    • 130 m at 0.32 % CuT, including
    • 10 m at 1.38 % CuT within a broader zone of 80 m at 0.41 % CuT

• Drills are now being transported to the site after the first drill platforms and access were constructed
  • Eight platforms will be built (three of which are finished) to test down-hole extensions drilled at an orientation almost perpendicular to the NE-oriented structural trends found on the surface, using road cuts 1000 and 1050
  • The 2024 Mercedes drilling campaign's first phase will test about 2,000 meters over seven drill holes, while the second phase will test a further 2,500 meters across nine drill holes
• The results continue to compare favorably with the original discovery channel sample at the MOD, which intersected 150 m at 0.36 % CuT

We look forward to commencing the upcoming exploration drilling program at Mercedes following the completion of the new road infrastructure. Channel sampling results from cuts 1050 and now 1000 demonstrate promising potential for the continuity or repetition of the Marimaca IOCG-system to the north. Drilling this year will focus on testing to the east of the original Mercedes discovery holes in 2021, where the system appears to be strengthening, as supported by the recent surface sampling.

Sergio Rivera, Vice President, Exploration, Marimaca Copper Corp.

About Mercedes

Mercedes is located immediately north of the MOD and has similar geological properties, implying a northern extension of the same IOCG-system. Mercedes, like the MOD, is located in Jurassic intrusive stock and dyke-swarm rock types, with mineralization controlled by a large NE sheeted structural structure and related fracture networks, which are intersected by a later series of WNW faults and dykes.

Geological surface mapping at Mercedes has also revealed the existence of NNE trending dacitic dykes, which are associated with the greatest mineralization grades at the MOD. Copper mineralization in Mercedes is characterized by green oxides (atacamite/brochantite), chrysocolla, and wad (black oxides).

Previously completed high-resolution MagDrone surveying at Mercedes shows an anomaly equal in size and intensity to the MOD magnetic-inversion model, which corresponds to the anomalous geochemical background sample.

Sampling and Assay Protocol

True widths cannot be established with information supplied at this time. Road cuts were cleaned, and rock chip samples were collected on a 2 m continuous basis. The samples were submitted to the Andes Analytical Assay preparation laboratory in Copiapó, and the pulps were forwarded to the same company laboratory in Santiago for assaying.

Samples were prepared according to the following standard protocol: drying; crushing all samples to -1/4 ” and passing through a secondary crusher to greater than 80 % passing -10#; homogenizing; dividing; pulverizing a 400-600 g subsample to 95 % passing -150#; and sending a 125 g split for assaying.

All samples were tested for Cu ppm using AAS. No standards, blanks, or duplicates were used. Marimaca Copper stores pulp and sample rejects for future reference.