Marimaca Copper Reports New Copper-Silver Discovery in Chile

Marimaca Copper announced a significant copper-silver discovery at its Pampa Medina project in Chile’s Antofagasta Region. Drilling extended the mineralized system by 300 meters and found a thick zone grading nearly 1% copper. The company’s Toronto-listed shares rose 13% to $9.10 on Tuesday following the news.

One drill hole, SPRD-15, cut 216 meters grading 0.96% copper and 7.2 grams of silver per tonne from 466 meters downhole. This included a higher-grade section of 62 meters at 2.2% copper and 21.5 grams of silver. Marimaca’s Vice-President of Exploration, Sergio Rivera, stated the results reinforce the view of a large, high-grade copper-silver system.

Other drilling results supported the discovery’s scale. Hole SPD-13 returned 222 meters grading 0.5% copper, extending both oxide and deeper sulphide mineralization. Marimaca plans 30,000 meters of drilling at Pampa Medina this year.

Pampa Medina is located 28 kilometers east of Marimaca’s more advanced oxide deposit. This new discovery provides a potential growth source as the company moves its main oxide project towards a construction decision. That oxide project’s 2025 feasibility study outlined 179 million tonnes grading 0.42% copper.