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Marimaca Copper Corp. (ASX:MC2) has intersected high-grade copper-silver mineralisation in significant step-out drilling at the Pampa Medina deposit in Chile. The results from Pampa Medina, located at low altitude approximately 28km east of the company’s Marimaca oxide deposit, have confirmed the western continuity of the favourable, mineralised sediment horizons.
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Following the success of the 30,000-metre Phase II program, Marimaca is now planning to expand operations to up to 10 drill rigs at Pampa Medina, with a target meterage of 100,000 metres in CY26.
Marimaca’s VP for exploration, Sergio Rivera, said Pampa Medina continues to demonstrate critical consistency of grade and thickness across the currently defined area.
“The Phase II program was predominantly 300m-spaced grid-based drilling intended to define the extent of the mineralised system, of which we are yet to define the limits,” Mr Rivera told shareholders today.
Highlight hits included 74 metres of 1.21% copper and 7.9 grams per tonne (g/t) silver from 520m, including 12 metres of 2.07% copper and 17.2 g/t silver from 532 metres in a hole drilled some 600 metres west of previous drilling.
A CY26 program will focus on definition drilling of the identified high-grade corridors, as well as Pampa Medina Norte in both oxides and sulphides. Continued large-scale step-outs to test the regional continuity of the favourable host rocks are also on the company’s exploration docket for the near future.
CEO, Hayden Locke, said the area of interest at Pampa Medina now extends to three kilometres by two kilometres, with geophysics suggesting ongoing potential for extensions.
“The continuity of mineralisation and exceptional grades we are encountering are not unusual for sediment-hosted copper deposits, which are known to have a larger footprint compared to the more confined, but vertically extensive, porphyry deposits typical of this region,” the explorer’s chief said.
“What is incredibly unusual is the average true thickness of mineralised sediments. Drilling shows the high-grade mineralisation is present over a minimum true thickness of 20m to 30m and, in many cases, is well over 100m in true thickness.
“When compared to one of the most prolific copper belts on the planet – the Kupferschiefer in Poland and Germany – it is extraordinarily thick.”
He told shareholders the estimated mining horizon true thickness across one section at Pampa Medina is, on average, more than 10 times thicker and, in some cases, more than 50 Tims thicker than the Kupferschiefer deposits
“Pampa Medina exhibits similar copper grades and slightly lower average silver grades when compared to those tier one operations, but over significantly larger mineable widths, which indicates efficient, bulk tonnage, mining methods may drive lower unit costs in an eventual operation,” he continued.
Mr Locke also added that the silver content provides a valuable addition to the deposit and enhances its potential. “We note the highly accretive financings being undertaken around streaming silver, and we expect, given the consistency of silver mineralisation encountered in this batch of drilling, that it will provide an opportunity for the company to monetise for the benefit of its shareholders.”
“We are assaying the rest of the drilling completed at Pampa Medina and will release the results to the market when received.”
MC2 was up +1.07%, to $9.45 yesterday, through Wednesday trade.
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