September 28, 2021
Vancouver – September 28, 2021 – Pampa Metals Corp. (“Pampa Metals” or the “Company”) (CSE: PM / FSE: FIRA / OTCQX®: PMMCF) is pleased to provide an update regarding its 6,600-hectare Redondo-Veronica Project in northern Chile, where the Company has received assay results from the seven-hole drill program focused on three separate target areas as previously reported (see news releases dated July 29; July 7; June 29; and June 16, 2021 for further technical information and updates).
Summary & Highlights
- Seven, wide spaced, reverse circulation (“RC”) drill holes totalling 1,956 metres (“m”) were completed byPampa Metals at the Company’s Redondo-Veronica project in June and July 2021, with final assay results received in September 2021.
Results point towards potentially deep porphyry copper mineralisation across two of the three target areas that were tested, at Cerro Redondo North and Redondo Southwest:
- Assay results from the upper portions of the Cerro Redondo North target include copper up to 0.16% Cu together with anomalous arsenic values indicative of the upper parts of a porphyry system.
- The Redondo Southwest target is characterised by multiple deep geophysical anomalies including a deep induced polarisation anomaly, with drilling only reaching the upper outer margins of the anomaly to date. Four, wide-spaced drill holes show hydrothermal alteration and mineralisatiindicative of the outer margins of a deep porphyry copper system.
- Follow up deeper diamond drilling on these two targets is being evaluated and prioritised against other
opportunities within Pampa Metal’s exciting portfolio of projects.
Results from the wide-spaced reverse circulation drill program together with geological, geochemical, and geophysical information, are consistently pointing to deep mineralisation at the Cerro Redondo North and Redondo Southwest targets, while Redondo Extreme North has been downgraded to second priority. Drill testing at Cerro Redondo Norte returned the best geochemical results, at relatively shallow levels, but deeper drilling is required to properly test the indicative source porphyry.
A large, deep, 3D- Vector Induced Polarization (VIP) phase anomaly, coincident with a deep magnetic low and resistivity feature, suggests deep porphyry potential remains beneath the level of current drilling at Redondo Southwest. This is supported by the geological and geochemical results from the recent drilling, which appears to have cut the upper portions of a large, porphyry-related hydrothermal system.
Pampa Metals is continuing the process of integrating all the data collected from the project. Further 3D modelling of the geophysical data, with integrated drill data, is considered essential as a next step. The first pass of RC drilling has been very successful in showing that the Redondo-Veronica project has the potential to host deep porphyry copper style mineralisation, which will require diamond drill follow-up due to the limitations that the less- expensive RC drilling technique has faced with depth.