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
News Release
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
Vancouver, British Columbia, December 30th, 2024 – 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
o 102m at 1.20% CuT from 250m, including
o 76m at 1.57% CuT from 276m, including
o 56m at 2.05% CuT from 296m, including
o 18m at 5.11% CuT from 320m
100m at 0.36% CuT from 550m (dominantly sulphides), including
o 32m at 0.62% CuT from 618m, including
o 2m at 3.43% CuT from 648m
o 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.
We are very excited about the implications of SMR -01 for potential growth at Pampa Medina. We will take the coming
weeks to define 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 following up on the high- grade bornite-chalcopyrite mineralization encountered
at the base of the hole.”
Hayden Locke, President and CEO of Marimaca Copper, commented:
“Congratulations to Sergio and his team on the exciting extensional discovery at Pampa Medina Norte. Drilling encountered
high grade copper oxides and secondary sulphides (both leachable) and, excitingly, primary chalcopyrite and high grade
bornite at the bottom of the hole before it was terminated due to technical issues.
“With these results, our interpretation is that SMR -01 has identified a northern extension of Pampa Medina, stepping out
approximately 400m from the previously defined mineralized envelope. It also confirms our view that the broader SdM
property contains excellent potential for high-grade manto-style, leachable, copper deposits that have the potential to be
highly complementary to the MOD.
“In light of these exciting results, we are reviewing our overall strategy for Pampa Medina, including the recently added
Madrugador concessions. What is clear is that the system at Pampa Medina and its surrounds has the potential to grow
significantly. We are in the process of upgrading the historical resource, but this may be put on hold as we continue to
explore the limits of the system. I expect we will look to provide significant additional exploration budget to following up
on this prospective discovery.”
Overview of Pampa Medina Step-Out Program
Pampa Medina is a manto -style copper deposit with historical resources (see press release dated October 8 th, 2024)
dominantly hosted in Jurassic sedimentary units (sandstones and black shales) overlain by andesitic volcanics and
underlaying by a Triassic complex of metasediments and intrusions . Copper is found predominantly in oxide species
dominated by atacamite, chrysocolla and both secondary and primary chalcocite.
Hole SMR-01 was drilled approximately 400m north of the northern margin if the known deposit at Pampa Medina. SMR-
01 was collared at Azimuth 270°, Dip -60° and drilled to a total depth of 650m. High grade copper oxide mineralization was
intersected from 272m-462m downhole depth in an upper unit of sandstones and volcaniclastics and an underlying black
shale unit.
A rhyolitic tuff was intersected below the sediments from 462m to 556m, and below that a metasediments and dioritic
unit from 556m to 650m where the hole was terminated. Mineralization transitioned to primary chalcopyrite and bornite
mineralization at 550m, with increasing intensity grade and bornite content at depth. The hole was terminated at 6 50m
due to operational challenges encountered at such depth with RC drilling.
Sediment-hosted oxide m ineralization encountered in SMR- 01 is interpreted as the extension of the sediment -hosted
manto deposits of Pampa Medina main (see Figure 2). Historical drilling at Pampa Medina was generally limited to a depth
of 400m, potentially too shallow to intersect the chalcopyrite-bornite dominant manto mineralization found in SMR-01 in
the lower tuff and metasediments & diorite unit. Marimaca will consider deeper diamond drilling for 2025 for infilling the
gap zone, extending Pampa Medina at depth, and testing further step-outs to the north.
Of the additional 3 step-out drill holes with assays pending at Pampa Medina, two were drilled to the west, and one to the
north (see Figure 3).
Overview of Pias Scout Drilling Program
The Pias scout drilling program focused on shallow drilling following up on a large -scale geochemical anomaly identified
in the 2024 field program (see Figure 4). Drilling encountered shallow, low to mid -grade copper oxide mineralization
hosted in dominantly andesitic volcanics . Pias remains a core target within Marimaca’s exploration pipeline and will be
considered as part of the 2025 exploration strategy. Significant results are reported in Table 3.
Figure 1: Regional Map – Marimaca and Sierra de Medina
Figure 2 – Sierra de Medina Property Block
Figure 3 – Southern Sierra de Medina – Pampa Medina Deposit and Step-out Drilling Locations
Figure 4 – Drone Image of SMR-01 Drilling Location
Figure 5 – Long Section Looking West – Pampa Medina and Pampa Medina Norte
Figure 6 – Pias Target Scout Drilling Locations
Table 1: Table of Intersections (Pampa Medina Norte)
Hole Easting Northing Elevation Azimuth Inclination Depth
SMR-01 407062.81 7441273.71 1270.17 270 -60 650
Table 2: Drill Collar (Pampa Medina Norte)
Hole Total
Depth (m)
From (m) To (m) Intersection
(m) % CuT
SMR-01
650
250 650 400 0.49
Including 250 466 216 0.70
Including 250 352 102 1.20
Including 276 352 76 1.57
Including 296 352 56 2.05
Including 320 338 18 5.11
And 618 650 32 0.62
Including 648 650 2 3.43