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April 29, 2025 – TheNewswire - Vancouver, British Columbia - Pampa Metals Corp. (“Pampa Metals” or the “Company”) (CSE:PM / FSE:FIR / OTCQB:PMMCF) is pleased to advise that drillhole PIU-08 (PIU-08) at Piuquenes Central was completed to 769.5 m downhole depth. PIU-08 was collared on the western flank of the Piuquenes Central porphyry copper-gold mineralization system and was designed to test both the western (near surface) and eastern (at depth) flanks of the system. The drill hole successfully encountered the mineralized porphyry vein system over substantial length downhole, with assays pending.
Piuquenes Copper-Gold Porphyry Project – San Juan, Argentina
Piuquenes Central Is a recently discovered, gold rich copper porphyry deposit located immediately adjacent to the north of Aldebaran Resources’ (ALDE:TSX-V) giant Altar porphyry copper system. Piuquenes East is a separate porphyry occurrence and standalone target within the Piuquenes-Altar porphyry cluster, drill tested by Pampa Metals for the first time in February and March 2025 (drill core assays pending).
Other large porphyry copper projects in the San Juan Miocene porphyry belt include El Pachón (Glencore), approximately 30 km to the south, the operating Los Pelambres copper mine (60% Antofagasta plc) in Chile, and Los Azules (McEwen Mining) 50 km to the northeast. Corporate and exploration activity along the belt remains high, with major companies including Rio Tinto, South 32, BHP and Teck also active.
Diamond Drillhole PIU-08 2025DDH (PIU-08)
Drillhole PIU-08 was a significant step-out, collared 240m south west of PIU01-2024 (304m @ 0.48% Cu, 0.68 g/t Au, 3.1 g/t Ag, including 132 m @ 0.71% Cu, 0.85 g/ Au, 4.3 g/t Ag; refer 11 March 2024 News Release) and 80 m north of PIU03-2024 (801 m @ 0.40% Cu, 0.51 g/t Au, 2.87 g/t Ag, including 518 m @ 0.53% Cu, 0.73 g/t Au, 3.45 g/t Ag; refer 23 May 2024 News Release).
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Figure 1: Plan showing locations of Piuquenes – Altar porphyry mineralization occurrences (clusters)
PIU-08 was collared on the western flank of the Piuquenes Central system at an azimuth of 100o and was designed to test both the western (near surface) and eastern (at depth) flanks of the Cu-Au porphyry system. The drill hole successfully intersected wide intercepts of classic A and B type veining over significant downhole lengths.
The drillhole encountered porphyry veins from near surface becoming more intense from approximately 150 m to 530 m downhole. Below the base of sulfide leaching and oxide copper at approximately 250m downhole the veins are observed to be chalcopyrite-bearing in line with other holes in the Piuquenes Central target and more local zones of bornite-bearing veins are also observed.
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Image 1. PIU-08 422.32 – 427.70 m at Piuquenes Central.
Quartz diorite porphyry cut by strong porphyry style A-veins associated with K-feldspar potassic alteration.
The hole traversed pre-mineral diorite porphyry in its upper sections and from 450m downhole the pre-mineral diorite is cut by quartz diorite porphyry which is interpreted to be one of the multiple causative porphyries at Piuquenes Central.
Alteration in the pre-mineral diorite porphyry is dominated by biotite-bearing potassic alteration which is overprinted by a more K-feldspar rich potassic alteration most closely associated with veining and mineralization. Analytical results for PIU-08 are pending.
Joseph van den Elsen, Pampa Metals President and CEO commented:
“This season we continue to define and expand the high-grade Piuquenes Central system in areas of previously sparse drilling. With multiple results now pending, including assays from maiden drill testing at Piuquenes East, we look forward to further updating the market on our highly successful 2024-2025 drill program.
This is an exciting time to be a Pampa Metals shareholder, as we continue to add significant value through discovery and evaluation drilling at Piuquenes. Concurrently, we are advancing the acquisition of Rugby Resources and its Cobrasco and Mantau projects. Rugby has already demonstrated Cobrasco to be an exceptional exploration opportunity based on the potential size and grade of the porphyry system outlined to date, and we look forward to adding further value through swift and systematic exploration”.
ON BEHALF OF THE BOARD
Joseph van den Elsen | President & CEO | Joseph@pampametals.com
INVESTOR CONTACT
Jordan Webster | Jordan@pampametals.com
ABOUT PAMPA METALS
Pampa Metals is a copper-gold exploration company listed on the Canadian Stock Exchange (CSE:PM), Frankfurt (FSE: FIR), and OTC (OTCQB: PMMCF) exchanges.
In November 2023, the Company announced it had entered into an Option and Joint Venture Agreement for the acquisition of an 80% interest in the Piuquenes Copper-Gold Porphyry Project in San Juan Province, Argentina.
QUALIFIED PERSON
Technical information in this news release has been reviewed and approved by Dr. Stuart Smith, PhD, a member of the Australian Insititute of Geoscientists and a "qualified person" as defined by NI 43-101. Dr. Smith is a Consultant to the Company.
Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENT
This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Pampa Metals expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects" and similar expressions, or that events or conditions "will" or "may" occur. These statements are subject to various risks. Although Pampa Metals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guaranteeing of future performance, and actual results may differ materially from those in forward-looking statements.
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