08:33 AM EDT, 04/15/2024 (MT Newswires) -- Marimaca Copper ( MARIF ) on Monday provided an update on development activities at the Marimaca Oxide Deposit led by Ausenco Chile, and exploration activities at the Sierra de Medina property block.

Also, the company said it has initiated exploration trenches and surface sampling activities at the Mercedes satellite target, located about 1 kilometer north of the Marimaca Oxide Deposit.

Marimaca Oxide Deposit permitting submission remains on track for early in the third quarter, the company said. The Ausenco-led Definitive Feasibility Study development strategy optimization is expected to be completed in the fourth quarter.

The company said it is considering strategic options to move immediately into detailed engineering of the deposit following the Definitive Feasibility Study in 2025.