07:05 AM EST, 11/26/2024 (MT Newswires) -- Marimaca Copper ( MARIF ) on Tuesday said it has extended surface oxide copper mineralization at the Mercedes Target in Chile, providing potential to add to the company's leachable resource base.

Six out of 8 holes intersected mineralization, extending to an area of interest 700 meters along strike and 400 meters width. Mercedes is less than 500 meters north of the northern edge of the Marimaca Oxide Deposit.

Highlights of the results include 68 meters with an average grade of 0.64% total copper from 8 meters, including 42 meters at 0.90% total copper from 28 meters.

"Mercedes appears to be a mineralizing system of some scale and we are especially pleased with the continuity of grades in the north-western and western peripheries of the area of interest," said Sergio Rivera, vice president of exploration at Marimaca. "The lower grade halo is reminiscent of the boundaries of the MOD, and we continue to see potential to add complementary, shallow, oxide resources to our mineral inventory."