Marimaca Copper Company is exploring Pampa Medina Norte in Chile

Marimaca also reported the results of a first scout drilling program at the Pias target, located northwest of Pampa Medina within the broader Sierra de Medina estate area.

The company said that hole SMR-01 was drilled 400 meters north of the known northern extension of the Pampa Medina deposit, intersecting predominantly copper oxide and chalcosite mineralization from 272 meters to 462 metres, and transitioning to dominantly chalcopyrite and bornite mineralization from 462 to 650 metres.

Highlights from SMR-01 are 400m at 0.49% CuT from 250m including: 216m at 0.70% CuT from 250m (mostly oxides), including 102m at 1.20% CuT from 250m, including That’s 76m at 1.57% CuT from 276m, including 18m at 5.11% cut from 320m, 100m at 0.36% CuT from 550m (mostly sulphides), including 32m at 0.62% CuT from 618m, including 2m at 3.43% CuT from 648m.

Three additional holes are still pending at Pampa Medina, targeting both the west and north, the company said, adding that it is currently studying an expanded exploration program for exploration at Pampa Medina Norte in 2025.

“The Pampa Medina Norte discovery validates our exploration model targeting key sedimentary and volcanic host units that we know are productive for Mantu-style mineralization locally and regionally – including recent Tier 1 greenfield discoveries such as the Cachorro deposit in Antofagasta,” Vice President Marimaca Cooper Exploration Sergio Rivera said in a press release.

“We will take the coming weeks to determine the strategy for an expanded exploration program in 2025 which will focus on testing further extensions to the north, as well as extensions at depth to pursue the high-grade bornite and chalcopyrite mineralization encountered at the base of the hole.”

In light of these results, the company is reviewing its overall strategy for Pampa Medina, including the recently added Madrugador franchises, CEO Hayden Locke said.

“What is clear is that the system in Pampa Medina and surrounding areas has the potential to grow significantly,” Luke said. “We are in the process of upgrading the historic resource, but that may be delayed while we continue to explore the boundaries of the system.”

Marimaca Copper stock rose 4.7% midday Monday in Toronto. The company’s market value is 517 million Canadian dollars ($360 million).