Marimaca Copper has announced a significant discovery at its Pampa Medina project in Chile, marking the northern extension of the Pampa Medina deposit, located just 26 kilometers from the company’s flagship Marimaca Oxide Deposit (MOD). This discovery, located within the Sierra de Medina (SdM) Property Block, underscores the potential for substantial growth in the region. The company also revealed results from its maiden drilling program at the Pias target, further enhancing the prospectivity of the broader SdM area.

The standout finding comes from hole SMR-01, drilled 400 meters north of the known extent of Pampa Medina’s northern boundary. The drill hole intersected substantial oxide copper and chalcocite mineralization from 272 meters to 462 meters depth, transitioning into chalcopyrite-bornite mineralization from 462 meters to the final depth of 650 meters. The hole was terminated in mineralization after reaching the challenging depth, with the final interval of 648-650 meters returning a remarkable grade of 3.43% CuT.

Key highlights from the drilling include a 400-meter interval at 0.49% CuT starting from 250 meters depth, with a higher-grade section of 216 meters at 0.70% CuT. Notably, within this interval, an 18-meter zone reached a remarkable 5.11% CuT from 320 meters depth. Additionally, a 100-meter interval at 0.36% CuT was encountered from 550 meters, which included 32 meters at 0.62% CuT. The hole was ultimately terminated in a high-grade bornite-chalcopyrite mineralization zone, underscoring the potential for significant mineralization at depth.

Marimaca Copper has also noted that true widths of the mineralization cannot be determined at this stage, as the drilling was oriented to intersect the manto-hosting lithological units at perpendicular angles. Three additional drill holes targeting extensions both to the west and north of the Pampa Medina deposit remain pending.

The discovery further validates the company's exploration model, which focuses on targeting key sedimentary and volcanic units known to host manto-style mineralization. This model has proven successful not only at Pampa Medina but also regionally, with other notable discoveries like Antofagasta’s Cachorro deposit.

Sergio Rivera, VP of Exploration at Marimaca Copper, expressed enthusiasm about the implications of the discovery, stating that the company is planning an expanded exploration program for 2025. This will focus on further testing the northern extensions of the deposit and evaluating the potential for deeper mineralization, particularly following the high-grade bornite-chalcopyrite mineralization encountered in SMR-01.

CEO Hayden Locke highlighted the potential of the Pampa Medina system, noting that the company is reevaluating its strategy for the area, including newly acquired Madrugador concessions. With the discovery at Pampa Medina Norte and ongoing exploration efforts, the company is confident that the mineral system in this region has significant room for growth.

Following the announcement, Marimaca Copper’s stock rose 4.7%, reflecting investor confidence in the project. The company currently has a market capitalization of C$517 million ($360 million).