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Pampa Metals reports a strong chargeability response from the IP Geophysics program at the Buena Vista target in Block 4 and confirms the preferred drill target. CanadianBusiness Journal

Antofagasta, Chile, June 23, 2022 (GLOBE NEWSWIRE) — Pampa Metals Co., Ltd. (“Pampa Metals” or “Company”) (CSE: PM / FSE: FIRA / OTCQX®: PMMCF) reports Quantec Geoscience Chile Ltda. (“Quantec”) recently completed an IP geophysical study of the Buena Vista target and other targeted magnetic anomalies in a block 4 project of a company in northern Chile with promising results (2022). See previous news release dated May 24).

Block 4 is located along the major porphyry copper deposits in northern Chile, about 110 km south of the huge La Escondida copper mine. The main targets identified so far, called Buena Vista, are underexposed quartz-veins hosted within the invasion of dacite porphyry, which is spatially consistent with the geochemistry of highly magnetic anomalous molybdenum. Includes stock work zone. The generation of copper oxide and the value of extraordinary gold are zoned around the central stockwork zone in the west, south and east.

Block 4 IP Survey – Survey Results and Key Points

The study consisted of 37 linear kilometers (“km”) pole-dipole IP measurements distributed along five EW lines, each 5-7 km long. The lines were designed as a preliminary test of a series of individual geological, geochemical, and magnetic anomalies, so they are not evenly distributed and do not form a regular grid.

The results of the IP geophysical survey at Block 4 show consistent results with previously published results for the Buena Vista target (see Figure 1). The two lines located on the Buena Vista target are skarn-type mineralization with porphyry-type quartz veins, quartz sulfide breccia to the west, and coarse chalcopyrite remnants to the east, of line 7,205,000. There is a good correlation between chargeability and resistivity abnormalities. N and 7,205,750N. The anomaly defines a region of interest in Buena Vista that is significantly larger than 1 km x 1 km, starting at a shallow depth and opening beyond a depth of 600 m. This confirms Buena Vista as the preferred drill target.

These two IP lines and other lines cover various additional magnetic anomalies in the east, northeast, and southeast of Buena Vista, primarily under the post-mineral cover, and are similar to Buena Vista in geophysics. It reveals other simultaneous chargeable and magnetic features with physical properties. These are also valued as possible drilling targets.

  • The IP line 7,205,000N-oriented WE centered on the Buena Vista target begins at a shallow depth below the surface exudate sub-crop and opens at a depth of over 600m, with a serious rechargeability anomaly of approximately 1,400m (WE) wide. Was defined.
    • The peak of the anomaly is the quartz-vein stock work zone hosted by the mapped dacite porphyry and the associated molybdenum anomaly from the Pampa Metals trench work (see news release dated March 15, 2022), and It correlates well with the central Buena Vista magnetic height.
    • The western part of the IP anomaly correlates well with previously mapped and reported quartz sulfide breccia with copper and gold values ​​in the trench.
    • A possible continuation of the rechargeability anomaly, or perhaps another anomaly, spreads east under the post-mineral cover, resulting in an overall WE extension of about 3.3 km of rechargeable features, They are all open in depth.
    • This eastern anomaly enlargement coincides with the magnetic height of a subcircle measuring approximately 600m x 600m. This further suggests the target of interest under the equivalent cover of the Buena Vista target.
  • Separate IP lines located 750 m north and 1.5 km south show the continuity of charging anomalies described for the 7,205,000 N-rays, and the entire detected sulfide system is of considerable size and post-mineral. It suggests that it contains a chargeable anomaly to the east under the cover of.
  • Two short IP lines at the northern end of Block 4 are designed to test a series of covered magnetic anomalies and show some small IP charging features that need further evaluation, but a reconnaissance drill. May represent the target of. One anomaly on the northernmost line opens to the west.
  • Block 4 IP Survey – Detailed Results
    7, 205,000 N lines – 7 km WE – Cross the central Buena Vista target (see Figure 2).
    • It crosses the subcircular magnetic height of the Buena Vista target, in addition to the magnetic anomaly associated with another magnetic anomaly beneath the eastern gravel and Ignimbrite cover.
    • A rechargeability anomaly of 10-15 mV / V below the vertical of approximately 1,400 m WE, starting at a shallow depth and opening beyond a depth of 600 m, is associated with a quartz vein bed stockwork zone of breccia. It concentrates on and also reflects quartz sulfide. Breccia to the west of Magnetic High.
    • The charged anomalies described are persistent, suggesting that central porphyry with stockwork veins and western quartz sulfide breccia are associated with the same hydrothermal system.
      • This anomaly correlates well with resistivity of 1500-5000 ohm-m open at depth, and the values ​​are consistent with silicification and the presence of quartz.
    • Charging anomalies spread further east under the post-mineral cover, which may be continuous with the major Buena Vista chargeable anomalies. Nevertheless, the two anomalous areas are semi-continuity in the chargeability section over a distance of approximately 3.3kmWE.
      • The core of the eastern anomaly is above 1 kmWE, open at depths and begins at about 200 m to 400 m under the cover of gravel and igninbrite.
    • The major anomalies are repeated on the line 7,205,750N located 750m north (see below), and the eastern anomalies may be separated by eastern geological faults.

    Lines 7,205,750N – 7 km WE – 750 m north of the Buena Vista target, crossing the mineral-covered magnetic anomaly east (see Figure 3).

    • Buena Vista Located on the northern flank of the magnetic anomaly, it exhibits a vertical charge anomaly of 10-15 mV / V, is approximately 1,100 m wide, starts at a shallow depth and opens beyond a depth of 600 m. .. This correlates well with the charging anomalies of online Buena Vista. 7,205,000N above.
      • The major chargeability anomalies also correlate well with resistance values ​​from 1,500 to 3,000 ohm-m. This is believed to be consistent with the presence of silica and quartz.
    • The eastern covered magnetic anomaly described for line 7,205,000N is repeated in this line and is spatially associated with the covered magnetic anomaly after the mineral. Rechargeable features correlate well with similar anomalies on the 7,205,000 N-ray, with a WE of about 800 m, an open depth, starting about 300 m under the gravel and igninbrite cover.
      • The eastern charge anomaly of this line, and its correlation with the magnetic height of 600m x 600m, is geologically similar to that observed with the Buena Vista target and is interpreted to represent a new covered target. Will be done.

    Lines 7,203,500N – 6 km WE – Crosses the magnetic depression southwest and the magnetic high east of Buena Vista 1,500 m south of the Buena Vista target (see Figure 4).

    • The height of the important mineral-covered magnetism, located approximately in the center of the line, is somewhat open to the west, but with the eastern half of the wide and weak charge anomaly, separated by possible faults in the east. It is spatially consistent. ..
      • According to Line 7,205,750N, the spatial coincidence of chargeability anomalies with a magnetic height of 600m x 600m is geologically similar to the Buena Vista target and may represent a new covered target.

    Line 7,207,600N & 7,209,000N – 5 km each WE – Buena Vista Crosses a series of mineral-covered magnetic features 2.5 km to 4 km north of the target (see Figure 1).

    • Both lines show some deeper, less extensive rechargeable features, but the northernmost line has a significant rechargeable anomaly that opens to the west. Further evaluation of these anomalies is needed.

    About block 4
    Geomagnetic and follow-up studies have discovered porphyry-related quartz vein bed stockwork zones that are spatially consistent with dacite porphyry and magnetic anomalies (see news release dated October 18, 2021), followed by Buena. It was named Vista Target. The limited trench program returned anomalous molybdenum geochemistry associated with the stockwork zone, along with copper and gold values ​​around the margin containing 24m @ 0.14% Cu and (separately) 24m @ 0.25 g / t Au. (See news released March 15, 2022).
    The trenching program in Buena Vista is a remnant of coarse chalcopyrite diffusion from a skarn-type system at the eastern end of the stockwork zone, and green from in-situ oxidation of chalcopyrite-pyrite mineralization in quartz sulfide. And black chalcopyrite mineralization revealed skarn on the western flank of stockwork. Gold anomalies are also associated with this latter area.
    Simultaneous surveys of soil geochemistry and polar bipolar IP geophysics began in May 2022, centered on the Buena Vista target. The IP results are published here, with a total of approximately 2,500 samples of soil survey field sampling completed approximately 50% and all analysis results pending. The results of soil sampling will be published shortly. About Pampa Metal
    Pampa Metals is a Canadian company listed on the Canadian Stock Exchange (CSE: PM), Frankfurt (FSE: FIRA) and OTC (OTCQB®: PMMCF) exchanges. Pampa Metals owns a highly promising, fully owned 60,000 hectare portfolio of eight copper and gold projects along Chile’s proven mineral zone, one of the world’s leading mining jurisdictions. increase. The company is actively pursuing four projects, including completed and planned drill tests, with two additional optional projects at Austral Gold Ltd., and Austral has already drilled the first target on the ground at Pampa Metals. doing. We have also signed a contract with VerAI Discoveries Inc. to give Pampa Metals access to the latest artificial intelligence technologies related to mineral exploration and an additional 18,700 hectares of promising terrain at the core of the productive mineral belt. Allows access to. Northern Chile.
    We use the best geological and technical techniques to create value for our shareholders and all other stakeholders by making major copper or gold discoveries along Chile’s major mineral areas. I have a vision to do it. For more information, please visit the Pampa Metals website. www.pampametals.com.. Qualified person
    The technical information in this news release has been approved by Mario Orrego G, a geologist, a registered member of the Chilean Mining Commission, and a qualified person as defined in National Instrument 43-101. Orrego is our consultant.
    Note: Readers are aware that the Pampa Metals project is an early stage exploration project and any mention of mineralization hosted in existing mines or deposits, or adjacent or nearby properties is not necessarily the mineralization of Pampa Metals properties. Please note that it does not show any effect.
    On behalf of the board
    Paul gill | CEO and director
    www.pampametals.com Investor contact information
    Ioannis (Yannis) Tsitos | directed by
    [email protected]
    CSE or the Canadian Investment Industry Regulatory Authority is responsible for the validity or accuracy of this release.
    Future-oriented statement
    This news release contains certain statements that may be considered “forward-looking statements.” All statements in this release are forward-looking statements, except for historical facts that address the events or developments that Pampa Metals is expected to occur. Forward-looking statements are not historical facts and are not always, but generally “expect”, “plan”, “expect”, “believe”, “intention”, “estimate”, A description identified by the word “project”. , “Possible”, “indicate” and similar expressions, or events or conditions “occur”, “occur”, “possible”, “possible”, or “must occur” “. Pampa Metals believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, but such statements do not guarantee future performance and are actual results. May differ significantly from the forward-looking statement.

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Pampa Metals reports a strong chargeability response from the IP Geophysics program at the Buena Vista target in Block 4 and confirms the preferred drill target. CanadianBusiness Journal

Source link Pampa Metals reports a strong chargeability response from the IP Geophysics program at the Buena Vista target in Block 4 and confirms the preferred drill target. CanadianBusiness Journal

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