Marimaca surges to 15-year high on promising copper sulphide hits in Chile

Strong drill results at Pampa Medina spark investor optimism and highlight the potential for a globally significant copper system.

Shares of Marimaca Copper (TSX: MARI; ASX: MC2) soared by 25% on Thursday, hitting a 15-year high of C$9.09, following the release of exceptionally high-grade copper sulphide intercepts at its Pampa Medina project in northern Chile.

The standout drill hole, SMRD-13, intercepted 6 metres grading 12% copper, within a broader 26 metres at 4.1% copper and 100 metres averaging 1.3% copper from a depth of 594 metres. A second hole, SMD-02, cut 132 metres at 1% copper, including 40 metres at 2.1% copper from 278 metres depth.

The Pampa Medina project, located approximately 25 km west of the company’s flagship Marimaca Oxide Deposit (MOD) and 1,250 km north of Santiago, is emerging as a potential game changer for the company’s copper portfolio.

“The Pampa Medina discovery could be very synergistic with the main Marimaca Oxide Deposit,” said Canaccord Genuity analyst Dalton Baretto. “We see options for a larger project and longer mine life — potentially even infrastructure relocation should the project prove up at scale.”

Strategic expansion and feasibility timeline

Marimaca CEO Hayden Locke emphasized the strategic importance of the results, noting that the thick, high-grade intercepts suggest the presence of a much larger copper system.

“These results add a new dimension to our strategy,” Locke said. “We believe they strengthen our potential to become a globally significant copper producer in the future.”

The company is currently advancing a feasibility study for its MOD, expected by the fourth quarter of 2025, backed by a C$24.4 million private placement raised last month. Meanwhile, a preliminary economic assessment (PEA) for Pampa Medina has been put on hold to evaluate the full implications of the recent discoveries.

More strong intercepts and regional advantages

In addition to SMRD-13 and SMD-02, another notable result came from hole SMRD-12, which intercepted 56 metres grading 1.4% copper from a depth of 566 metres.

The project also benefits from strong infrastructure advantages, including:

• Low altitude and flat terrain, ideal for future facilities.
• Proximity to the port of Mejillones, located just 25 km west.
• Close distance to other major copper assets:
• Capstone Copper’s Mantos Blancos (40 km SW)
• Antofagasta Minerals’ Cachorro (40 km NE)
• South32’s Sierra Gorda (64 km E)
• BHP’s Spence mine (just northeast of Sierra Gorda)

Marimaca is currently executing a 10,000-metre drill program across 14 diamond drill holes at Pampa Medina to delineate the extent of prospective sedimentary units.

As copper demand remains strong amid the global energy transition, Marimaca’s latest discovery could significantly enhance its role in supplying future-facing metals from one of the world’s most prolific mining jurisdictions.