Pampa Metals Drilling Confirms Porphyry System at the Buenavista Target, Chile

VANCOUVER, BC / ACCESSWIRE / June 5, 2023 / Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIRA)(OTCQB:PMMCF) is pleased to provide an update on the progress of diamond drilling designed to test coincident geological, geochemical, and geophysical anomalies on its 100% owned Buenavista target located along the world's pre-eminent porphyry copper belt in northern Chile.

Highlights - Buenavista Target Drilling:

• Three diamond drill holes for 1,957 metres completed. Core processing in progress with assay results expected by end June.
• Hydrothermal alteration and mineralisation indicative of the upper epithermal, in transition to a porphyry copper system (or systems), was intersected in all three holes.
• Intermediate argillic and sericite alteration typical of the peripheral parts of porphyry systems and associated with several narrow intercepts of copper sulphides comprising enargite, some chalcopyrite, and traces of chalcocite occur. Pyrite is common as disseminations and in breccias, with molybdenite common in hole BV01-2023. Quartz veinlets are variable, but intense on occasions. Narrow sulphide-rich breccias and quartz-sulphides veins, together with narrow, granodiorite dykes, occur in holes BV02-2023 and BV03-2023.
• Current interpretation is that the dacite porphyry and quartz-veinlet stockwork zone targeted by BV01-2023 represents a separate porphyry centre to the quartz-sulphide breccia zone including early-stage inter-mineral dykes cut by holes BV02-2023 and BV03-2023.
• A main-stage inter-mineral porphyry source is interpreted to lie beneath, or to the side of holes BV02-2023 and BV03-2023, with a separate source likely to the north of BV01-2023.

Commenting on the results, Joseph van den Elsen, President and CEO, stated:

"The Buenavista target displays many characteristics indicative of a large, fertile, Tertiary aged, porphyry copper-molybdenum-gold system and we are very pleased to have successfully demonstrated this potential in the recently completed three-hole scout drilling program. Detailed geological logging and sampling together with complementary studies including petrography of key alteration types is in progress, and we look forward to updating the market following receipt and interpretation of assays."