Marimaca Copper's (ASX:MC2) drilling results strengthen the prospect of the Pampa Medina project in Chile becoming a "significant" growth asset, Euroz Hartleys said in a Wednesday note.

Marimaca said its ongoing drilling program at the Pampa Medina included results of up to 216 meters of about 1% copper and 7.2 grams per tonne silver from 466 meters, including 82 meters of 1.7% copper and 16.3 grams per tonne silver from 600 meters.

Drilling at Pampa Medina continues to expand the manto horizons. Step-out drilling extended high-grade sulphide mineralization by up to 300 meters beyond prior drilling, increasing confidence that the system is materially larger than the currently defined central corridor.

The Pampa Medina sulfide drill intercepts deserve to be appreciated by the market as the project should significantly increase the firm's mineral resource inventory in time, and mineralization remains largely open, Euroz Hartleys said.

The investment firm retained its speculative buy rating and AU$16.94 price target on Marimaca Copper.