In one of the odder examples of exploration, Pampa Metals (CSE: PM) this morning reported assay results from a drill hole that was conducted in 2016 at its recently acquire Piuquenes porphyry copper-gold project in Argentina.
The assays come from hole PIU16-DDH01, which was conducted by Anglo-American Argentina under a program that saw just one hole drilled, which extended to a depth of 920.2 metres in total length. Events at the time are said to have prevented the proper assaying of the results before Anglo withdrew from the project.
Highlights from the results include:
- 558.2 metres of 0.38% copper, 0.42 g/t gold, and 2.4 g/t silver
- Including 296 metres of 0.5% copper, 0.5 g/t gold and 2.7 g/t silver
- Including 180 metres of 0.71% copper, 0.61 g/t gold, and 3.8 g/t silver
- Including 130 metres of 0.81% copper, 0.6 g/t gold, and 4.0 g/t silver
The drill hole is said to have hit the mineral intersections initially targeted by a exploration conducted by Inmet in the 1990’s, with mineralization said to be related to copper-gold porphyry hosted quartz veins, which remain open at depth.
Pampa on November 30 entered into an option agreement to acquire an 80% stake in the Piuquenes project, which consists of nine mining titles that cover 1,800 hectares in the San Juan province of Argentina. The project is proximal to several major projects in the region, including the Altar project held by Aldebaran Resources, and Los Azules, held by McEwen Mining.
The company currently is planning aggressive exploration, with a 2,500 metre drill program set to begin in January, followed by a larger program slated to begin in October 2024.
Pampa Metals last traded at $0.14 on the CSE.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
