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Pampa Metals Reports Copper-Gold-Molybdenum Values from Trenches at the Buenavista Target within Its Block 4 Project Preparations for Drill Testing Underway – Junior Mining Network

CSE: PM
www.pampametals.com

Mr. Paul Gill reports:
VANCOUVER, BC / ACCESSWIRE / March 15, 2022 / Pampa Metals Corp. (“Pampa Metals” or the “Company”) (CSE:PM) (FSE:FIRA) (OTCQX:PMMCF) is pleased to provide an update on trenching results from its 100% owned, 6,800-hectare Block 4 project, and specifically the newly named Buenavista target, in northern Chile. Block 4 is located along the principal porphyry copper belt of northern Chile, about 110 km south of the giant La Escondida copper mine. Buenavista comprises a poorly exposed quartz-veinlet stockwork zone hosted within a porphyritic intrusion, which is spatially coincident with a magnetic high and anomalous molybdenum geochemistry. Copper oxide occurrences and anomalous gold values are zoned around the central stockwork zone.
Key takeaways:
Pampa Metals completed six trenches totalling 2.3 km, of which 5 trenches successfully exposed bedrock, at its Buenavista target on its Block 4 project in November-December 2021 (see news release dated February 8, 2022). The trenching was directed towards improving exposures of porphyry type quartz veinlets and copper oxide occurrences associated with a poorly exposed central porphyritic intrusion, which is spatially coincident with a magnetic anomaly detected by Pampa Metals’ ground magnetics survey. The magnetic anomaly directly led to the discovery of the stockwork veined porphyry intrusion by careful follow-up geological fieldwork. The area investigated by trenches at Buenavista measures approximately 700m north-south and 900m east-west, and the core porphyry and quartz-veinlet stockwork zone has not been trenched or drill tested historically.
202 field samples (with additional control samples) were collected from the five effective trenches. Fire assay gold results together with multi-element ICP results (4-acid digestion) for the 202 channel-type samples were received from ALS Laboratories in Chile, together with results from an additional 25 control sample results as per Pampa Metals’ quality assurance and quality control (“QA/QC”) protocols.
Buenavista Target – Detailed Trench Results
Highlights of assay results from over two hundred channel-type rock samples at Buenavista include:
Multi-element geochemical anomalies, with a particular focus on copper, gold, and molybdenum, suggest a fertile hydrothermal system of porphyry copper type at Buenavista. Pampa Metals has immediately started preparations for follow-up work at Buenavista, including deep drill testing. Other magnetic features of potential interest on the Block 4 property are in areas of gravel and ignimbrite cover, and will initially require the application of electrical geophysical methods for follow-up.
Junior Mining NetworkBuenavista Target, Block 4 – Showing Trenches 1, 2 & 3 in Progress – Looking East
(Note Pickup Truck and Digger for Scale)
Light colouring represents approximate area of quartz veinlet stockwork in porphyritic intrusion
The Buenavista target area is located in the approximate geographical center of the Company’s Block 4 property and comprises smoothly eroded hillsides covered by relatively thin colluvial and talus type deposits, but with little in terms of rock outcrops. Buenavista is surrounded by extensive post-mineral covered “pampas” (alluvial deposits and thin ignimbrites). Several historic, wide-spaced trenches and several drill holes were directed towards copper oxide occurrences to the north and west of the new, central target area, and are of unknown provenance.
The Company completed six trenches totalling 2.3 km with a back-hoe digger at Buenavista, and successfully exposed bedrock in trenches 1-2 and 4-6, but trench 3 failed to reach bedrock through the colluvial and talus cover.
Buenavista Target – Conclusions
Trenching on the Buenavista target at Pampa Metals’ Block 4 project has revealed the presence of highly anomalous copper, gold and molybdenum values related to a newly discovered and fertile porphyry system. Copper-gold-arsenic and gold-arsenic-lead-zinc associations indicate a high level of hydrothermal exposure, suggesting that most of the porphyry-related system is still preserved at depth beneath the current surface. Highly anomalous molybdenum values are concentrated exclusively in sections with “A”-type and banded quartz veinlets cut by trenches 1 and 2, directly above the magnetic anomaly, which is interpreted as the main area of magmatic flow in the Buenavista hydrothermal system. Surface oxidation and leaching of sulphide minerals is intense. Nevertheless, current best copper, manifest by widespread copper oxide occurrences, and gold values, appear to be zoned around the central core of the system.
Pampa Metals has collected samples of the porphyry intrusion for dating and has begun preparation work for further follow up work to include:
For further information please see the maps accompanying this news release.
ABOUT PAMPA METALS
Pampa Metals is a Canadian company listed on the Canadian Stock Exchange (CSE: PM) as well as the Frankfurt (FSE: FIRA) and OTC (OTCQB®: PMMCF) exchanges. Pampa Metals owns a highly prospective, wholly owned, 62,000-hectare portfolio of eight projects for copper and gold located along proven mineral belts in Chile, one of the world’s top mining jurisdictions. The Company is actively progressing four of its projects, including completed and planned drill tests, and has two additional projects optioned to Austral Gold Ltd., with Austral already drill testing its first target on Pampa Metals’ ground. The Company has also recently signed an agreement with VerAI Discoveries Inc. giving Pampa Metals access to the latest in artificial intelligence technology in relation to mineral exploration, as well as a further 18,700 hectares of highly prospective terrain in the core of the highly productive mineral belts of northern Chile.
The Company has a vision to create value for shareholders and all other stakeholders by making a major copper or gold discovery along the prime mineral belts of Chile, using the best geological and technological methods. For more information, please visit Pampa Metals’ website www.pampametals.com.
Qualified Person
Technical information in this news release has been approved by Mario Orrego G, Geologist and a Registered Member of the Chilean Mining Commission and a Qualified Person as defined by National Instrument 43-101. Mr. Orrego is a consultant to the Company.
Note: The reader is cautioned that Pampa Metals’ projects are early-stage exploration projects, and reference to existing mines and deposits, or mineralization hosted on adjacent or nearby properties, is not necessarily indicative of any mineralization on Pampa Metals’ properties.
ON BEHALF OF THE BOARD
Paul Gill | CEO & Director
www.pampametals.com
INVESTOR CONTACT
Ioannis (Yannis) Tsitos | Director
This email address is being protected from spambots. You need JavaScript enabled to view it.
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The CSE nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS
This news release contains certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, which 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”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “indicate” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. 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.
Junior Mining NetworkPampa Metals – Project Locations & Major Mines of Northern Chile
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Junior Mining NetworkBuenavista Target Area
Block 4
Principal Geochemical Results from Trenching
Cu, Mo, Au
Superimposed on Magnetics Analytic Signal VI

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