RSS SubscribeApril 28, 2022
Vancouver – April 28, 2022 – Pampa Metals Corp. (“Pampa Metals” or the “Company”) (CSE: PM / FSE: FIRA / OTCQX®: PMMCF) is pleased to provide an update on exploration activities being carried out by Austral Gold Ltd. (“Austral” – ASX: AGD / TSX-V: AGLD) at the Company’s 7,300-hectare Morros Blancos property in northern Chile, where Austral has an option to earn up to an 80% interest in the Morros Blancos property by completing a Bankable Feasibility Study.
Morros Blancos is located along one of the prime mineral belts of northern Chile that is host to major copper mines such as Spence and Sierra Gorda, as well as important gold-silver mining districts such as El Peñon, and is situated immediately adjacent and to the east of the producing Amancaya gold-silver mine operated by Austral.
Highlights:
- Austral has announced preliminary results from its exploration programs at the Company’s Morros Blancos project in northern Chile (see Austral ASX news release dated April 28, 2022). Two targets are currently being investigated along a 15 km hydrothermal alteration corridor at Morros Blancos (see map at end of this release).
- Austral has completed four of the planned five diamond drill holes totalling 1,020m at the Rosario del Alto target in the north of the property, and continued surface exploration studies of the Morro Colorado target in the center of the property.
- Additional detailed surface geological mapping, rock-chip sampling, geophysical surveys, spectrometry (alteration) studies, and petrographic studies have been completed at both targets.
- Extensive geological and hydrothermal alteration features of high-sulphidation gold-silver systems have been encountered and mapped at surface at both Rosario del Alto and Morro Colorado, and in drill holes at Rosario del Alto. Additionally, evidence for the juxtaposition of hydrothermal alteration with high-sulphidation features and porphyry-style characteristics, has been found at Morro Colorado.