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Marimaca Makes Pampa Medina Norte Discovery – Intersects 18m at 5.1% CuT within 102m at 1.2% CuT, both within a broad zone of 400m at 0.5% CuT

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Marimaca Copper Corp.
Marimaca Copper Corp.

VANCOUVER, British Columbia, Dec. 30, 2024 (GLOBE NEWSWIRE) -- Marimaca Copper Corp. (“Marimaca Copper” or the “Company”) (TSX: MARI) is pleased the announce the discovery of the northern extension of the Pampa Medina deposit, located approximately 26km from the Company’s flagship Marimaca Oxide Deposit (“MOD”). The Company also reports results from the maiden scout drilling program at the Pias target, located northwest of Pampa Medina within the broader Sierra de Medina (“SdM”) Property Block (see Figure 1).

Highlights

  • Hole SMR-01 was drilled 400m north of the known northern extent of the Pampa Medina deposit (see Figure 3 and 4) and represents a material extension of the sediment and volcanic-hosted ‘manto-style’ mineralization

  • SMR-01 intersected significant oxide copper and chalcocite mineralization from 272m-462m, transitioning to dominantly chalcopyrite-bornite mineralization from 462-650m (final depth)

    • The drill hole was terminated in mineralization (last sample interval of 648-650m grading 3.43% CuT) due to operational challenges at depth with reverse-circulation (“RC”) drilling

  • Highlights from SMR-01 are below:

    • 400m at 0.49% CuT from 250m including:

      • 216m at 0.70% CuT from 250m (dominantly oxides), including

        • 102m at 1.20% CuT from 250m, including

        • 76m at 1.57% CuT from 276m, including

        • 56m at 2.05% CuT from 296m, including

        • 18m at 5.11% CuT from 320m

      • 100m at 0.36% CuT from 550m (dominantly sulphides), including

        • 32m at 0.62% CuT from 618m, including

        • 2m at 3.43% CuT from 648m

        • Hole was terminated in bornite-chalcopyrite mineralization with increasing bornite at depth

  • True widths cannot be determined at this time, however SMR-01 was orientated to target perpendicular intersections of the key manto-hosting lithological units

  • Three additional drill holes remain pending at Pampa Medina (targeting both west and north step-outs)

    • The Company is currently considering an expanded discovery exploration program at Pampa Medina Norte in 2025

  • The Company is also pleased to announce results from the scout reverse-circulation drilling at the Pias target, located ~15km from Pampa Medina within the Company’s broader SdM Property Block

    • Results demonstrate potential for delineation of near-surface copper oxide mineralization

Sergio Rivera, VP Exploration of Marimaca Copper, commented:

“The discovery of Pampa Medina Norte validates our exploration model targeting the key sedimentary and volcanic host units that we know to be productive for manto-style mineralization both locally and regionally – including recent tier 1 greenfield discoveries like Antofagasta’s Cachorro deposit.