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Chile
Marimaca Project

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 Location:
80 km NE from Antofagasta, Chile

  Project Contacts:
Suite 1504 Cerro El Plomo 5420, Las Condes
Santiago
Chile
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WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Copper
Mining Method
  • Truck & Shovel / Loader
Mine Life12 years (as of Jan 1, 2020)
Latest NewsDrilling Intersects Best Results to Date at the Marimaca Oxide Deposit: 308m at 0.94% CuT from 32m including 186m at 1.37% CuT from 154m; 26m at 4.83% CuT from 202m     January 23, 2023


Owners

Source: p. 43
CompanyInterestOwnership
Marimaca Copper Corp. 100 % Indirect
The Project is held 100% by Marimaca Copper. Marimaca Copper has four Chilean subsidiaries that have actual, or eventual, rights over various mining properties that make up the Project:
- Compañía Minera Cielo Azul Limitada (MCAL);
- Compañía Minera NewCo Marimaca (Newco Marimaca);
- Compañía Ivan SpA (Compañía Ivan);
- Minera Rayrock Limitada (Rayrock).

Contractors

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Deposit Type

  • IOCG
  • Manto


Summary:

Deposit Types
The Marimaca deposit appears to be a new deposit style and does not readily conform to any of the major published geological models.

The deposit occurs in a district that has a number of vein-style IOCG deposits, which have common features including regional metamorphism/metasomatism, Ca–Na alteration, the presence of magnetite and hematite, chalcopyrite as the major copper-bearing mineral, and an overall low sulphide content (Sillitoe, 2003; Richards and Mumin, 2013). The Marimaca deposit setting includes some of these elements.

However, Marimaca also has affinities with “manto-type” mineralization styles, although the monzodiorite mineralization host is unusual, since the known manto-type deposits are typically associated with volcanic piles. If the host rock issue is not taken into consideration, Marimaca is analogous to manto-type copper deposits such as Mantos Blancos (Chavez, 1983) or El Soldado (Boric et al., 2002). The critical role of structures, dykes, and alteration zoning is a common feature in these deposits. The deep and extensive development of supergene alteration and oxidation is similar to that seen at Mantos Blancos.

The sulphide and alteration mineralogy at Marimaca resemble those encountered within IOCG systems; however, the lack of iron oxides and gold and the occurrence of hypogene chalcocite and covellite are not common in IOCG deposits (Richards and Mumin, 2013). These features appear to be more ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

Open pit mining is contemplated, using equipment conventional to the industry.

The open pit area was divided into three geotechnical zones, with pit slope angles that range from 42–52º. Mining dilution, based on a cut-off grade of 0.2% CuT is assumed to be 2.3% for tonnes, and a contained copper loss of 4.6% will result.

Eight pit phases are planned. phase 1 targets the material with the highest grade in the central area, down to 920 masl. phases 2 and 3 are successive expansion to the north, down to 960 masl and 870 masl, respectively. phase 4 is an almost independent pit at the northern area of the deposit with an exit to the north and a connection with phase 3 for exiting to the primary crusher to the south. This phase will extend to the 890 masl. phase 5 is an expansion to the west of the main pit, to 830 masl. phases 6 and 7 are final expansions to the south and west, respectively to 890 masl and 830 masl. phase 8 corresponds to the final expansion of the north pit, to 880 masl.

A road width of 30 m was selected to accommodate trucks up to 190 t. NCL used a 10% road gradient which is common in the industry for this type of truck. The 2020 PEA mine plan is designed with 10 m benches stacked to 20 m (i.e. double benching) for the geotechnical Zone 1 (East wall). Mining costs are based on blasting 10 m benches for every material type. Additional 20 m wide safety berms were included in the design when the slope height exceeds 150 m, in acc ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Copper M lbs 79945
All production numbers are expressed as cathode.

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Annual production capacity  ......  Subscription required
Daily processing capacity  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
Annual processing capacity  ......  Subscription required
Annual mining rate  ......  Subscription required
* According to 2020 study.
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Reserves at January 15, 2020:
Base case Mineral Resources are reported using a 0.22% total copper (CuT) grade.

CategoryTonnage CommodityGradeContained Metal
Measured 20,721 kt Copper 0.66 % 136 kt
Indicated 49,666 kt Copper 0.57 % 284 kt
Measured & Indicated 70,387 kt Copper 0.6 % 420 kt
Inferred 43,015 kt Copper 0.52 % 224 kt

Commodity Production Costs:

CommodityUnitsAverage
Total cash costs Copper USD  ......  Subscription required&nbs
All-in sustaining costs (AISC) Copper USD  ......  Subscription required&nbs
Assumed price Copper USD  ......  Subscription required&nbs
* According to 2020 study / presentation.
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Operating Costs:

Units2020
OP mining costs ($/t mined) USD 1.74 *
OP mining costs ($/t milled) USD  ......  Subscription required
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2020 study.
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2020 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 648
G&A costs $M USD 71
Total OpEx $M USD  ......  Subscription required
Mining Taxes $M USD  ......  Subscription required
Total Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Net revenue (LOM) $M USD  ......  Subscription required
EBITDA (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 8% $M USD  ......  Subscription required
After-tax NPV @ 8% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
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Proposed Heavy Mobile Equipment as of August 4, 2020:
HME TypeSizeQuantity
Backhoe ....................... Subscription required
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Oct 11, 2022
....................... Subscription required ....................... Subscription required Subscription required Oct 11, 2022
....................... Subscription required ....................... Subscription required Subscription required Oct 11, 2022
....................... Subscription required ....................... Subscription required Subscription required Oct 11, 2022
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2020

Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2019
Feasibility Study Report 2018
Press Release 2018
Financial Review 2017
Management Discussion & Analysis 2017
Technical Report 2017
Subscription required - Subscription is required.

News:

NewsDate
Drilling Intersects Best Results to Date at the Marimaca Oxide Deposit: 308m at 0.94% CuT from 32m including 186m at 1.37% CuT from 154m; 26m at 4.83% CuT from 202m January 23, 2023
Marimaca Reports Primary Sulphide Intercept of 92m at 2.11% CuT from 140m, including 22m at 5.27% CuT from 204m, within 240m of 1.01% CuT from Surface Combined Oxides and Sulphides December 15, 2022

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