October 18, 2021
Vancouver – October 18, 2021 – Pampa Metals Corp. (“Pampa Metals” or the “Company”) (CSE: PM / FSE: FIRA / OTCQX®: PMMCF) is pleased to provide an update regarding its 4,200-hectare Block 4 Project in northern Chile, where the Company has completed detailed surface geological reconnaissance together with a ground magnetic geophysical survey of the project area.
Pampa Metals’ Block 4 project is located along the Cordillera de Domeyko Porphyry Copper Belt in northern Chile, which is host to some of the world’s largest copper deposits and mines. The property is located along a highly prolific segment of this Andean mineral belt, centred along trend some 110 km south of the giant La Escondida – Zaldivar copper mining district and 115 km north-northeast of the El Salvador copper mine.
Pampa Metals has a unique property portfolio of eight (8) projects covering a series of greenfield copper and gold targets along the highly productive, world-class mineral belts of northern Chile. The company has a highly qualified board and management, with lengthy experience with major and junior companies, participation in significant discoveries, and multiple decades of experience in South America. Current technical activities include:
- Ongoing geophysical, geochemical, and geological surveys have identified high-quality drill targets on 4 wholly owned projects;
- Recent drilling at 2 of these projects has given clear vectors towards what are interpreted to be mineralised porphyry centers;
- Value-add via third party expenditures with an Option & JV Agreement at 2 additional projects.
Block 4: Summary & Highlights
- Intense quartz-veinlet stockwork in dacitic porphyry intrusion discovered in limited outcrops in center of Block 4 property boundary.
- Characteristic of porphyry gold systems elsewhere.
- Limited outcrops allow for limited rock-chip sampling – results pending.
- Clear, discrete, magnetic high associated with area of quartz-veinlet stockworking.
- No historic drilling associated with this discovered zone of interest.
- Other magnetic features of potential interest occur within the property boundary, including an area with sporadic copper oxides at surface that has been subject to historic (old) RC drilling (results unknown to the Company).
- Magnetic features of interest under cover to the east and north of the principal zone of interest are associated with lineaments that possibly reflect the extensions of mapped north-south faults.
- Further work programs being planned.
Block 4: Technical Details
The Pampa Metals technical team in Chile completed a 1:5000 geological mapping survey of the Company’s 4,200 Ha Block 4 project in early October 2021. This work followed on from the recent completion of a ground-based magnetic survey (see news release dated August 3, 2021), which identified several magnetic anomalies of potential interest. Field mapping has delineated lithological units, structures, hydrothermal alteration, and mineralisation within the Block 4 property, where outcropping.
Block 4 is located along the Cordillera de Domeyko Porphyry Belt – the world’s most prolific copper producing belt – about 110 km south of the La Escondida – Zaldivar copper mining cluster (Figure 1). Significant portions of the Block 4 project area are characterised by post-mineral Miocene to Recent alluvial and volcanic cover, particularly to the north and east within the property boundary, where the underlying geology is obscured. Elevated sierras around the western and southern margins of the property expose basement rocks that include Palaeozoic felsic volcanics and intrusions, and Mid- to Late- Triassic andesites, sediments and andesite-dacite porphyries.
The basement rocks are limited to the east by a series of north-south to north-northeast faults, which to the north have continuity with the Escondida Fault that cuts the La Escondida – Zaldivar mining district. Old reports and regional data indicate that Jurassic sediments are intruded by Lower Tertiary dioritic rocks under the gravels to the east of the north-south fault system.
Palaeozoic felsic volcanic rocks in the central-northeastern part of the property display copper-oxide mineralization at surface associated with hydrothermal alteration with quartz veins and veinlets, the relationship of which to porphyry systems has been tested in the past by eleven, old, third-party RC drill holes identified on this portion of the property, the results of which are unknown to Pampa Metals.
Felsic basement rocks in the central part of the project area are cut by a possibly Lower- to Mid- Tertiary porphyry of fine, dacitic composition that is poorly exposed over an approximate area of 600m x 300m. This shows strong evidence of porphyry-type development with phyllic alteration and narrow and thick veinlets of “A” type quartz veinlets together with sinuous, banded grey quartz veinlets (see photograph below).
This veinlet style is typical of some gold-rich porphyry systems in northern Chile. Limited samples (due to the lack of outcrop) have been submitted for chemical analysis, with results pending.