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6 stories mentioning ASX:MC2Updated 26d ago

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Asia

Marimaca Copper's Chile Deposit Has Potential to Host Over 100 Million Tonnes Of Copper, Euroz Hartleys Says

Marimaca Copper's (ASX:MC2) Pampa Medina deposit in Chile has the potential to host a mineral resource in the order of over 100 million tonnes at a greater than 1% grade of copper, according to a Tuesday note by Euroz Hartleys.It identified high-grade copper and silver mineralization during recent drilling at its Pampa Medina deposit in Chile. The results were up to 96 meters at 1.19% grade of copper and 11.7 grams per tonne grade of silver from 692 meters.Drilling done to date has broadly been completed on 150-meter spacings, and has defined an area of interest of roughly 2.5 kilometers by 1.5 kilometers. The stacked mantos at Pampa Medina have continued to demonstrate good thicknesses, and mineralization is open in all directions.The project is expected to significantly increase the firm's mineral resource inventory in time, and mineralization remains largely open, particularly to the north and west.The investment firm retained its speculative buy rating on Marimaca Copper with a price target of AU$16.94 per share.

ASX:MC2
Asia

Marimaca Copper Identifies Further High-Grade Copper, Silver Mineralization in Chile Project

Marimaca Copper (ASX:MC2) identified further high-grade copper and silver mineralization during recent drilling at its Pampa Medina deposit in Chile, according to a Tuesday Australian bourse filing.The results were up to 96 meters at 1.19% copper and 11.7 grams per tonne grade of silver from 692 meters, including 60 meters at 1.8% copper and 18.4 g/t silver from 694 meters, including 16 meters at 5.7% copper and 62.6 g/t silver from 704 meters.The results represent one of the strongest bornite-mineralized manto intersections to date at Pampa Medina, the filing added.The company is also completing target-generation geochemical and geophysical programs across the broader Sierra Medina land package, focusing on the Sierra Norte and Pampa Norte areas, with results and interpretations to be released in due course, it added.

ASX:MC2
Asia

Marimaca's Drilling Results Show Mineralization At Chile Copper Deposit Appears Laterally Continuous Across High-Grade Area, Euroz Hartleys Says

Marimaca Copper's (ASX:MC2) latest drilling results continued to show that mineralization at the Pampa Medina copper prospect in Chile is not limited to isolated high-grade zones, but appears laterally continuous across the central high-grade area, Euroz Hartleys said in a note on Wednesday.Step-out drilling results from the Pampa Medina prospect reinforce the scale potential and continuity of the system. This demonstrates potential for Pampa Medina to develop into a large-scale, vertically extensive system.The combination of broad mineralized widths, higher-grade internal zones, and silver credits continues to support the potential for future bulk mining and a low-cost operation.At a copper price of around $5.80 per pound, the Marimaca oxide deposit would generate life-of-mine average earnings before interest, taxes, depreciation, and amortization of over $450 million per annum.The investment firm maintained its speculative buy recommendation on Marimaca Copper with a AU$16.94 per share price target.

ASX:MC2
Asia

Marimaca Copper Continues to See Continuity, Scale of Copper System at Chile Deposit

Marimaca Copper (ASX:MC2) continued to demonstrate continuity and scale of the sediment-hosted copper system at the Pampa Medina deposit in Chile during its step-out exploration drilling program, according to a Wednesday filing with the Australian bourse.Current exploration drilling confirms consistent oxide and sulfide mineralization in the high-grade central zone, with step-out drilling expanding the mineralized horizon, the filing said.

ASX:MC2
Asia

Marimaca Copper Signs Non-Binding Agreement to Explore JV framework for Future Chile Project Sulfuric Acid Supply

Marimaca Copper (ASX:MC2) signed a non-binding memorandum of understanding with a sulfuric acid plant operator and supplier in the Mejillones industrial area to explore a framework for a joint venture (JV) to supply the Marimaca oxide deposit in Chile with future sulfuric acid requirements, according to a Wednesday Australian bourse filing.The evaluation phase under the agreement includes a structured work program over an initial period of up to six months, during which multiple development alternatives will be assessed, the filing said. Subject to the results of the evaluation and the execution of definitive agreements, the parties may subsequently consider theformation of a joint venture to develop, finance, construct, and operate a plant.Marimaca completed the scheduled submission of the Marimaca oxide deposit's critical sectorial permits to the Servicio Nacional de Geología y Minería in April. This includes the closure plan, open pit mining method, and several additional approvals required for the construction of core project infrastructure.Approvals are expected in the December quarter.The company was granted its electrical connection authorization on May 13 by the National Electric Coordinator to the 110 kilovolts El Lince Line, located around 13 kilometers from the project area.

ASX:MC2
Asia

Marimaca Copper Reports Wider Q1 Loss

Marimaca Copper (ASX:MC2) reported Wednesday a first-quarter loss of $0.07 per share, widening from a loss of $0.02 a year earlier.Analysts polled by FactSet expected a loss of $0.02.The company did not report any revenue for the three months ended March 31.

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