VANCOUVER, British Columbia, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Marimaca Copper Corp. ("Marimaca Copper" or the "Company") (TSX: MARI), the copper explorer and developer, located in Chile, is pleased to announce that it has commenced the process to dual list on the Australian Securities Exchange (the "ASX").
The ASX dual listing is part of Marimaca Copper's growth strategy and is an important strategic step for its Marimaca Copper Project located in Antofagasta Region, Chile, as it advances through the Definitive Feasibility Study ("DFS") and project permitting milestones and towards project development.
Hayden Locke, President & CEO of Marimaca Copper, commented:
"We are excited to announce Marimaca Copper's intention to list on the ASX. This will be an important milestone for the Company as we advance the development of the Marimaca Copper Project. Marimaca is one of the most significant copper oxide discoveries in Chile, a tier 1 mining jurisdiction, in the last decade, which has the potential to become a low capital cost, high margin project.
"The ASX listing, in addition to the TSX listing, will provide the Company with greater access to a deeper pool of institutional capital, where there is also a strong appetite for high quality copper development and exploration projects. This naturally becomes increasingly important in the near term as the Company considers its financing strategy for future development."
Marimaca Copper notes there is no guarantee that it will receive approval to list on the ASX and will update as it progresses through the process.
About Marimaca Copper Corp.
Marimaca Copper Corp. 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 the DFS, led by Ausenco Chile Ltd. 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.
Contact Information
For further information please visit www.marimaca.com or contact:
Tavistock
+44 (0) 207 920 3150
Emily Moss / Ruairi Millar
marimaca@tavistock.co.uk
Forward Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation, including, without limitation, statements regarding the proposed ASX dual listing, access to capital based on an ASX listing, the ongoing DFS at the MOD, anticipated financing needs and the Company's ongoing exploration activities. 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 ASX listing may not be completed, risks that the exploration development activities at the MOD will not progress as anticipated, or at all, risks that the DFS may not be completed 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 28, 2024 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.
Neither the TSX nor the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this release.
