Pampa Metals Initiates Drone-Flown Aeromagnetic Survey at its Block 3 Copper Project in Chile And Provides Update from Geological Mapping

VANCOUVER, BC / ACCESSWIRE / June 9, 2021 / Pampa Metals Corp. (CSE:PM)(FSE:FIRA)(OTC PINK:PMMCF) ("Pampa Metals" or the "Company") is pleased to announce that it has started a drone-flown aeromagnetic survey at its 10,000 hectare, wholly-owned Block 3 project in northern Chile. Geological mapping of the largely post-mineral covered property has also advanced.

Block 3

Block 3 is a large, more than 10,000-hectare property, located along the mid-Tertiary aged Domeyko Cordillera porphyry copper belt of northern Chile that comprises the world's preeminent copper belt. The Block 3 project is in a highly prolific segment of the belt, centered approximately 55 km south-southwest of the giant La Escondida and Zaldivar copper mining district (BHP, Rio Tinto, Barrick, Antofagasta Minerals) and 170 km north-northeast of El Salvador (Codelco) (see news release dated March 9, 2021).

Two third-party porphyry-related prospects, Anakena and Sierra de Varas, are located adjacent to Block 3:

• Anakena is located within the uplifted Paleozoic basement block that flanks the eastern margin of the Block 3 property, and contains evidence of historic drill holes.
• Sierra de Varas is located within a third-party in-holding in the middle of the Block 3 property, and was previously drilled by Anglo American and others.

Both porphyry prospects occur close to, and to the east and west respectively, of the north-south trending Sierra de Varas fault system, which represents a major fault strand of the Domeyko Cordillera mineral belt.

Large portions of the Block 3 property are characterised by post-mineral Miocene to Recent alluvial and volcanic cover believed to be generally less than 150m thick. North-south trending ranges of hills border the western and eastern margins of the property, and consist of Paleozoic rhyolitic and dacitic lavas, Paleozoic granites and porphyries, Triassic sediments, Jurassic limestones, and Paleocene-Eocene rhyolite-dacite tuffs and porphyry domes. BHP completed a program of 13 wide-spaced, vertical, and shallow RC drill holes totaling 2,200m in 2014-2015 over parts of the post-mineral covered areas of Block 3. Several large areas within Block 3 remain untested by this shallow drilling.