Pampa Metals Confirms Tertiary Age for Host Rock Porphyry and Native Gold-Sulphide Mineralization in Quartz-Veinlet Stockwork at the Buenavista Target (Block 4 Project) - Seite 2

The Early Tertiary (Paleocene) age date obtained for the host rock porphyry at the Buenavista target in Block 4 would be the first for the Sierra Vaquillas Altas area in northern Chile. This age is equivalent to that of intrusions to the southeast at Cerros Corral de Alambre, and to that of volcanic rocks to the northwest in the western block of the El Profeta and Sierra de Varas faults, both of which have been associated with the magmatism of the widespread Chile-Alemania Formation.

A Paleocene age is considered the maximum age for the porphyry system at the Buenavista target, but may in fact represent the host rock for a younger porphyry event. This is a situation described for other porphyry deposits along the Cordillera de Domeyko porphyry belt, such as El Salvador located 115 km SSW of Block 4, where mineralizing porphyry intrusions from the Middle Eocene are intruded into Lower-Middle Paleocene magmatic rocks.

The petrographic study revealed successive pulses of hydrothermal infill, with at least three generations of porphyry-style quartz veinlets cutting through an initial phreatomagmatic brecciation event. Hydrothermal alteration associations indicate that the system is exposed at a relatively high level between the phyllic and epithermal transition, which is consistent with oxidised relicts of pyrite mineralization in the centre, together with evidence of quartz-sulfide structures with copper-gold-silver-arsenic values observed around the periphery of the Buenavista stockwork zone.

The geologic age date and petrographic study provide strong support for Pampa Metals' plans for drill testing of the previously undrilled Buenavista target, in addition to previously reported results from geological mapping, ground magnetics surveying, and induced polarisation reconnaissance survey lines. Field collection of more than 2,500 soil samples centred on the Buenavista target has recently been completed, with results pending.

About BUENAVISTA & Block 4

A ground magnetics survey and follow-up geological fieldwork led to the discovery of a porphyry-related quartz-veinlet stockwork zone spatially coincident with a dacite porphyry and magnetic anomaly (see news release dated October 18, 2021), subsequently named the Buenavista target. A limited trenching program returned anomalous molybdenum geochemistry associated with the stockwork zone, together with copper and gold values around the margins, including 24m @ 0.14% Cu and (separately) 24m @ 0.25 g/t Au (see news released date March 15, 2022).

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