Marimaca Appoints Ausenco to Lead Marimaca Project Definitive Feasibility Study
News Release
Marimaca Appoints Ausenco to Lead Marimaca Project Definitive Feasibility Study
Vancouver, British Columbia, October 30, 2023 – Marimaca Copper Corp. (“Marimaca Copper” or the “Company”) (TSX:
MARI) is pleased to announce the appointment of Ausenco Chile Limitada (“Ausenco”) to lead the Marimaca Project
Definitive Feasibility Study (the “DFS”), following a competitive bidding process.
Ausenco is a leading multi-national engineering firm with significant experience in Chile, including the current execution
of the engineering, procurement and const ruction contract (“EPC”) for Capstone Copper’s Manto verde Development
Project.
The firm has a wealth of experience and is already familiar with the Marimaca Copper Project (the “Project”) having led
the 2020 Preliminary Economic Assessment (the “2020 PEA”) and subsequent trade -off studies for the Project. Ausenco
will lead the DFS engineering workstreams as well as serve as lead author for the planned NI 43-101 technical report with
its professionals acting as Qualified Persons for core chapters. In addition, Ausenco will also act as the engineering lead
for permitting application purposes.
Marimaca Copper and Ausenco will complete a business case optimization leading into the DFS with both workstreams
to focus on the following core areas:
• Development of final geo-metallurgical model to optimize leaching conditions for recovery and acid
consumption
• Crush, Heap Leach and SX-EW process plant throughput optimization, layout, design and capex estimation
• Mine plan trade-off to optimize throughput and target production rate
• Targeting leading sustainability metrics with a focus on carbon intensity per tonne of copper produced,
recyclable water and green power use and associated infrastructure (see press release dated November 7th,
2022)
Hayden Locke, President & CEO of Marimaca Copper, commented:
“Ausenco is a world- class engineering and construction firm with a long track record building copper projects in Latin
America, most recently in Chile. We have already worked together extensively, and Ausenco has deep familiarity with the
Project, but is also aligned with our corporate objectives of developing a sustainable project with the highest focus on
reducing capital cost and maximizing risk-adjusted return on invested capital.
“We look forward to working together to optimize the approach to building what we believe is a n exceptional copper
development project, with outstanding sustainability features.”
Zimi Meka, Co-Founder & CEO of Ausenco, commented:
“Marimaca is an excellent fit for Ausenco’s market-leading engineering and study expertise in Chile , especially as the
Company seeks to accelerate towards project execution. We have extensive experience delivering copper projects in the
region including Constancia, Mina Justa (Peru) and, most recently, Mantoverde in Chile. We believe the Marimaca Project
has all the credentials to be the next mine developed in Chile and we’re excited to be part of the current phase of its
development.
“Like Marimaca, we are focused on minimi zing costs without compromising on quality and risk management to deliver
exceptional results for our stakeholders. We look forward to a long-term partnership with Marimaca as we work together
to develop this unique copper project.”
About Marimaca
Marimaca Copper is a Canadian publicly -listed exploration and development company focused on developing the
Marimaca Project, an oxide, open-pit, heap leach copper project located in the Antofagasta Region of northern Chile. The
Company’s shares trade on the TSX under the symbol “MARI” and on the OTCQX under the symbol “MARIF”.
About Ausenco
Ausenco is a global company redefining what's possible. Its team is based across 26 offices in 14 countries, with projects
in over 80 locations worldwide. Combining the ir deep technical expertise with a 30-year track record, Ausenco provides
innovative, value -add consulting and engineering studies and project delivery, asset operations and maintenance
solutions to the mining & metals, oil & gas and industrial sectors.
Contact Information
For further information please visit www.marimaca.com or contact:
Tavistock
+44 (0) 207 920 3150
Gareth Tredway / Adam Baynes
Forward Looking Statements
This 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 Copper, are inherently subject to significant business, economic, competitive, political and social uncertainties an d
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 as well as those factors disclosed in the
annual information form of the Company dated March 27, 2023 and other filings made by the Company with the Canadian
securities regulatory authoritie s (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.
Neither the Toronto Stock Exchange nor the Canadian Investment Regulatory Organization accepts responsibility for the
adequacy or accuracy of this release.