12:04 PM EDT, 08/15/2025 (MT Newswires) -- (Updates shares.)

Marimaca Copper ( MARIF ) on Friday said further drilling at the Pampa Medina deposit in Chile extended the high-grade sediment-hosted mineralization 300 meters to the west from previous drilling.

Pampa Medina is located 28 kilometers east of the Marimaca oxide deposit.

Highlights from drill hole SMRD-16 include 10 meters testing at 4.2% copper within 70 meters of 1.0% copper.

"The depth of these new intersections continue to indicate that it will be an underground opportunity, once the Pampa Medina oxide open pit has been considered," chief executive Hayden Locke said.

"We see enormous potential for a large scale, highly economic, underground copper mining opportunity," Locke added.

Marimaca shares were last seen up $1.38 to $11.29 on the Toronto Stock Exchange.

Price: 11.29, Change: +1.38, Percent Change: +13.93