September 15, 2021
Vancouver – September 15, 2021 – Pampa Metals Corp. (“Pampa Metals” or the “Company”) (CSE: PM / FSE: FIRA / OTCQX: PMMCF) is pleased to provide an exploration update regarding its 7,600-hectare Cerro Buenos Aires Project in northern Chile, where the Company has completed the drilling of nine reverse circulation (“RC”) holes totaling 2,738m focused on the Cerro Chiquitin area in the north of the property. Analytical results are pending. See previous news releases dated April 28, May 12, July 7, July 29 and August 3, 2021 for further technical information and updates.
Julian Bavin, CEO of Pampa Metals commented: “The area around Cerro Chiquitin, and to the south, currently shows highly encouraging indications of a porphyry system, with quartz veinlets in drill holes CBA-RC-07 and CBA-RC-08, quartz-sulfide veinlets and phyllic alteration in CBA-RC-02, together with the presence of a significant series of tourmaline breccia bodies and a hydrothermally altered dioritic-magmatic center. Drill hole evidence suggests that the drilling to the north of Cerro Chiquitin is at the periphery of the principal area of interest and reveals quartz veinlets in the pyritic, propylitic halo to the alteration system. Most of the area of interest to the south of Cerro Chiquitin is covered by 40m to 85m of post-mineral gravel cover where the underlying geology is not exposed. The core of the porphyry-related system may not have a footprint of more than 500m x 500m beneath the gravels, and further work is required to focus in on this target area, where sufficient space for a significant system remains untested.”
Three drill holes are located on the east flank of the small outcropping hill at Cerro Chiquitin (see maps at the end of this release), all of which were drilled with an inclination of 60 ° to the west to cut the base of the previously reported tourmaline breccia body exposed at Cerro Chiquitin.
• Hole CBA-RC-01 cut discrete magmatic-hydrothermal breccia structures with a tourmaline matrix, which in turn cut a magnetite-rich metasomatic alteration in andesitic tuffs. The hole cut 56m of gravel cover and was abandoned at 386m due to technical problems with the drilling.
• Holes CBA-RC-07 (384m) and CBA-RC-08 (470m) cut important sections of magmatic-hydrothermal breccia with a combination of tourmaline and quartz-tourmaline matrices, as well as segments of wide-spaced quartz veinlets in a fine grained dioritic porphyry, which is interpreted to be similar to a possible porphyry gold system. The host rocks comprise andesitic tuffs with contact metasomatism including pervasive fine biotite alteration, silicification and disseminated magnetite.
Two other holes were drilled south of the exposed breccias body.
• Hole CBA-RC-02 (244m) cut phyllic alteration and a series of quartz-sulfide veinlets indicative of the epithermal-porphyry transition. This hole cut 64m of gravel cover and was abandoned due to technical problems with the drilling.
• Hole CBA-RC-06 (324m) was drilled a little further south, and cut advanced argillic alteration, with evidence of an epithermal system, after penetrating 84m of gravel cover.
Four further holes were drilled to the north of Cerro Chiquitin, including CBA-RC-03 (240m), CBA-RC-04 (234m), CBA-RC-05 (240m) and CBA-RC-09 (216m), all of which cut peripheral hydrothermal alteration with quartz veinlets, pyrite and a transition to propylitic alteration with the presence of epidote.
The principal area of interest is located to the south of holes CBA-RC-07 and 08, and to the north and east of CBA-RC-02, where considerable space for a mineralised porphyry system exists. Detailed interpretations of magnetics data support this interpretation, with magnetic susceptibility depth slices showing a clear transition from near surface magnetite-destructive alteration (advanced argillic and phyllic) to deeper magnetite stable alteration (potassic), which may represent the mineralised porphyry core, and the focus of follow-up exploration work.
Pampa Metals is now awaiting the results of the chemical analyses of the RC drill hole chips to further help vector towards potential ore and to help decide the next steps for the project. Further work may include detailed IP survey lines to penetrate deeper than the current gradient array IP survey and to give better definition of IP features at depth, combined with further drill follow-up. 1,279 samples, most of which represent 2m intervals from the drilling, have been sent to the laboratory for analysis. This number includes control samples (blanks, duplicates, standards) that will allow for QA/QC control of the sampling, preparation, and analytical processes.