Pampa Medina Scout Drilling Delivers Significant Oxide Extensions; Western Deep Sulphide Drilling Pending
Pampa Medina Scout Drilling Delivers Significant Oxide Extensions; Western Deep
Sulphide Drilling Pending
Vancouver, British Columbia, January 26th, 2026 – Marimaca Copper Corp. (“Marimaca Copper” or the “Company”)
(TSX:MARI, ASX:MC2) is pleased to announce results from the Phase II drilling campaign at the Pampa Medina deposit ,
located at low altitude approximately 28km east of the Company’s Marimaca Oxide Deposit (“ MOD”) in a flat “pampa”
valley within the Atacama Desert (Figure 1). The Phase II program consists of drilling on a 300m x 300m grid across a 1.6km
by 1.4km area of interest. Drilling intersected significant extensions to the Pampa Medina oxide footprint in a new zone
to the north-east. Deep sulphide drilling to the west is ongoing with assays pending for four deep drill holes. The company
is also currently completing Inductively Coupled Plasma (ICP) assaying for its drilling completed to date at Pampa Medina
to examine the potential for silver mineralization , particularly in high er grade sulphide zones. Silver is a common by -
product in Chilean manto-type copper systems.
Highlights
• North-east drill holes SMR-29 and SMRD-30 intersected broad zones (>100m) of oxide mineralization
― Oxide intersections are approximately 800m from the historical oxide mineralization footprint at Pampa (see
Figure 2) in an area previously considered to be low potential given post-mineral uplifting to the east
― SMRD-30 intersected 162m of 0.61% Cu in oxides from 220m, including
36m of 1.04% Cu from 228m, including
12m of 2.02% Cu from 242m
10m of 1.55% Cu from 372m
― SMR-29 intersected 116m of 0.51% Cu from 204m in oxides, including
24m of 1.62% Cu from 296m, including
16m of 2.13% Cu from 298m
• Holes SMRD-24 and SMRD-28, drilled west and east of the historical oxide footprint respectively on section
N7440500, were affected by post-mineral dykes in the target sedimentary horizon
― SMRD-24 intersected several mineralized intervals truncated by post-mineral dykes
8m of 1.22% Cu from 288m
6m of 1.99% Cu from 312m
16m of 1.24% Cu from 394m
6m of 1.14% Cu from 554m
10m of 1.20% Cu from 606m
• SMRD-23 and SMRD-26 were drilled in the north-west and were impacted by late faulting, along with SMR-32
drilled in the south-west (see Figure 2)
• Four deep-sulphide exploration holes in the central, well defined east-west high-grade section are underway with
assays pending – SWRD-01, SWRD-02, SWRD-03 and SMRD-33 (see Figure 3)
• Given the clear potential for oxide growth at Pampa Medina, the Company is re-evaluating the scope of the Pampa
Oxide Preliminary Economic Assessment to evaluate the opportunity to increase the scale considered in the study
to capture a potentially larger oxide opportunity
• ICP analysis is currently underway for the Pampa Medina 2025 sample database to test the potential for auxiliary
silver mineralization, which is typical in the coastal cordillera manto deposits, and is present within deposit like
Cachorro (Antofagasta Minerals) and Mantos Blancos (Capstone) (see Figure 1)
Sergio Rivera, VP Exploration of Marimaca Copper, commented:
“Our understanding of this unique deposit is constantly improving as we move into the Phase II exploration program. In
addition to the exciting sulphide target, there is a compelling opportunity to expand the known oxide mineralization at
Pampa. We expect these oxides to be highly complementary to our existing resources at the Marimaca Oxide Deposit with
clear potential for both scale and mine life expansion.”
“The previous interpretation of the north -east areas of Pampa Medina indicated low potential for mineralization given
significant uplifting of the sedimentary sequences to the east. However, holes SMR- 29 and SMRD -30 demonstrate that
uplifting may be localized in smaller fault blocks, leaving intact mineralized sequence potential to the north-east.”
“In the west, our deep sulphide exploration in the high -grade section N7440800 is progressing well. We are targeting the
deep extensions of high-grade bornite-chalcopyrite dominant mineralization in the host sediments and are looking forward
to updating the market accordingly.”
Overview of Pampa Medina
Pampa Medina is a stratiform manto-style copper deposit dominantly hosted in Jurassic-Triassic sedimentary units
(sandstones, conglomerates, tuffs and black shales) overlain by andesitic volcanics and underlain by an Upper Paleozoic
complex of metamorphosed sediments, volcanics and intrusions. Key lithological units are intruded by a dyke swarm and
affected by post mineral normal faulting. Copper was originally identified in near-surface oxide mineralization dominated
by atacamite, chrysocolla and both secondary and primary chalcocite, and has now been identified in high-grade zones of
bornite and chalcopyrite which extend at depth beyond the oxide-primary transition.
Following Marimaca’s consolidation of the project area and surrounding land packages in 2024, the Company
reinterpreted all available geological information and developed an updated geological model for Pampa Medina , which
identified the lower sedimentary units of interbedded sandstones, shales and conglomerates as the productive horizons
for future drill targeting. Oxide copper mineralization was logged in historical drilling in near-surface, uplifted blocks, with
the model of continuity in the intact lithological sequence in deeper blocks for primary mineralization to be tested by
Marimaca’s 2025 and 2026 drilling campaigns. In addition to the sulphide extensions, the Marimaca discovery drilling has
identified opportunities for significant extensions to the oxide footprint of the deposit, most notably to the north and
west, which will be followed up on during the Phase II program (30,000m).
Figure 1: Regional Map – Marimaca, Pampa Medina and Regional Infrastructure
25km
Figure 2 – Pampa Medina Deposit and Step-out Drilling Locations
Figure 3 – Cross Section Looking North – Pampa Medina 7,440,800 N
Table 1: Table of Intersections
Hole Total
Depth (m)
From (m) To (m) Intersection
(m) % CuT
SMRD-23 900
242 264 22 0.53
Including 256 264 8 1.19
Including 426 432 6 0.58
SMRD-24 648
288 356 68 0.44
Including 288 296 8 1.22
Including 312 318 6 1.99
394 410 16 1.24
554 560 6 1.14
588 620 32 0.57
Including 606 616 10 1.20
SMR-25 610 No significant intercepts
SMRD-26 952
344 350 6 0.46
586 598 12 0.41
814 818 4 1.28
SMR-27 550 No significant intercepts
SMRD-28 820
386 398 12 0.59
494 504 10 0.47
SMR-29 618
204 320 116 0.51
Including 296 320 24 1.62
Including 296 312 16 2.13
SMRD-30 863.4
220 382 162 0.61
Including 228 264 36 1.04
Including 242 254 12 2.02
And 372 382 10 1.55
448 454 6 0.80
504 538 34 0.44
SMR-31 576 No significant intercepts
SMR-32 570
234 262 28 0.45
270 290 20 0.73
484 494 10 0.74
Hole ID TYPE Easting Northing Elevation Azimuth Dip Depth
SMR-25 RC 407599.07 7440503.05 1267.23 270 -60 610
SMR-27 RC 407598.94 7440199.74 1265.74 270 -60 550
SMR-29 RC 407698.57 7441400.97 1269.99 270 -60 618
SMR-31 RC 407300.89 7440201.67 1266.54 270 -60 576
SMR-32 RC 406500.41 7440201.86 1277.38 270 -60 570
SMRD-23 RCD 406800.91 7441403.33 1276.43 270 -60 900
SMRD-24 RCD 406699.14 7440503.83 1275.95 270 -60 648
SMRD-26 RCD 406497.39 7441404.49 1285.07 270 -55 952
SMRD-28 RCD 407286.4 7440503.51 1266.5 270 -55 820
SMRD-30 RCD 407400.13 7441401.83 1269.05 270 -55 863.4
Table 2: Drill Collars
Sampling and Assay Protocols
True widths are estimated as 85% of reported intervals, based on down-hole bedding and structural measurements.
DDH holes were sampled on a 2m continuous basis, halved by a conventional core splitter on site with one half sent
to the Andes Analytical Assay preparation laboratory in Copiapó and the pulps then sent to the same company
laboratory in Santiago for assaying. Samples were prepared using the following standard protocol: drying; crushing
all sample to -1/4” and passing through a secondary crusher to better than 80% passing -10#; homogenizing; splitting;
pulverizing a 400-600g subsample to 95% passing -150#; and a 125g split of this sent for assaying. All samples were
assayed for %CuT (total copper); %CuS (acid soluble copper). A full QA/QC program, involving insertion of appropriate
blanks, standards and duplicates was empl oyed with acceptable results. Pulps and sample rejects are stored by
Marimaca Copper for future reference.
Qualified Person / Competent Person
The technical information in this news release, including the information that relates to geology, drilling and
mineralization was prepared under the supervision of, or has been reviewed by Sergio Rivera, Vice President of
Exploration, Marimaca Copper Corp, a geologist with more than 40 years of experience and a member of the Colegio
de Geólogos de Chile and of the Institute of Mining Engineers of Chile, and who is the Qualified Person for the
purposes of NI 43-101 responsible for the design and execution of the drilling program.
The information in this announcement which relates to exploration results for the Pampa Medina Project is based
on, and fairly reflects, information and supporting documentation prepared by Sergio Rivera, VP Exploration of
Marimaca, a Competent Person who is a member of the Comision Minera (Chilean Mining Commission), Colegio de
Geólogos de Chile and of the Institute of Mining Engineers of Chile . Mr. Rivera has sufficient experience that is
relevant to the style of mineralisation and types of deposit under consideration and to the activity being undertaken
to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee Australasian
Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Rivera consents to the inclusion
in this announcement of the matters based on his information in the form and context in which it appears.
Contact Information
For further information please visit www.marimaca.com or contact:
Tavistock
+44 (0) 207 920 3150
Emily Moss
Forward Looking Statements
This news release includes certain “forward -looking statements” under (without limitation) applicable Canadian
securities legislation, including, without limitation, statements regarding the development of activities at Pampa
Medina, the potential growth of Pampa Medina, and the discovery’s potential to complement the MOD. There can
be no assurance that such statements will prove to be ac curate, and actual results and future events could differ
materially from those anticipated in such statements. Forward -looking statements reflect the beliefs, opinions and
projections on the date the statements are made and are based upon a number of assumptions and estimates that,
while considered reasonable by Marimaca Copper, are inherently subject to significant busines s, economic,
competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could
cause actual results, performance or achievements to be materially different from the results, performance or
achievements that are or may be expressed or implied by such forward-looking statements and the parties have
made assumptions and estimates based on or related to many of these factors. Such factors include, without
limitation: risks that the development activities at Pampa Medina will not progress as anticipated, or at all, risks
related to share price and market conditions, the inherent risks involved in the mining, exploration and development
of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating
metal prices, the possibility of project delays or cost overruns or unanticipated excessive operating costs and
expenses, uncertainties related to the necessity of financing, uncertainties relating to regulatory procedure and
timing for permitting submissions and reviews, the availability of and costs of financing needed in the future as well
as those factors disclosed in the annual information form of the Company dated March 27, 2025 and other filings
made by the Company with the Canadian securities regulatory authorities (which may be viewed at www.sedar.com).
Readers should not place undue reliance on forward-looking statements. Marimaca Copper undertakes no obligation
to update publicly or otherwise revise any forwar d-looking statements contained herein whether as a result of new
information or future events or otherwise, except as may be required by law.
None of the TSX, ASX or the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or
accuracy of this release.
This announcement was authorised for release to the ASX by the Board of Directors of the Company.