Home›Commodities›Mining›Marimaca expands copper-silver drilling at Pampa Medin…

Marimaca expands copper-silver drilling at Pampa Medina in Chile

Marimaca said it plans 30,000 metres of drilling at Pampa Medina this year as the nearby oxide deposit advances toward a construction decision.

Reported · Written up by our desk · Mining

Marimaca Copper has intersected thick copper-silver mineralization at its Pampa Medina project in Chile, adding both grade and distance to earlier results, according to Mining.com. The company reported hole SPRD-15 returned 216 metres grading 0.96% copper and 7.2 grams of silver per tonne from 466 metres downhole, including 62 metres at 2.2% copper and 21.5 grams silver from 602 metres.

Marimaca said step-out drilling pushed the copper-silver system about 300 metres beyond earlier holes, and it described Pampa Medina as remaining open in multiple directions and materially under-tested. The project sits 28 km east of the company’s more advanced oxide deposit, within 40 km of Antofagasta, in Chile’s Antofagasta Region.

The update also included other intercepts from additional holes, with SPD-13 reporting 222 metres grading 0.5% copper from 194 metres, and SPRD-12 returning 56 metres grading 0.95% copper and 4.2 grams of silver per tonne from 748 metres. Marimaca said the latest drilling supports continuity across a 3 km by 1.5 km area, tracing copper through several sedimentary layers.

Mining.com reported Marimaca is advancing the nearby oxide deposit toward a construction decision and that Pampa Medina’s proximity to planned mine infrastructure could provide a growth source alongside a project already through feasibility and environmental review. The company plans 30,000 metres of drilling at Pampa Medina this year, and its Toronto-listed shares rose 13% to $9.10, valuing the company at $1.2 billion (US$870 million).

Latest closeSilver $65.91 ▲2.0%|Copper $6.606 ▲1.5%

More like this

Sources