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.