Pampa Metals Intersects 304m at 1.07% CuEq* incl. 132m at 1.45% CuEq* from First Drillhole at the Piuquenes Porphyry Project, Argentina

VANCOUVER, BC / ACCESSWIRE / March 11, 2024 / Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIR)(OTCQB:PMMCF) is pleased to report assay results for the upper 502 meters of diamond drillhole PIU-01 (refer figure 1) which was recently completed to a depth of 867m at the Company's Piuquenes Central porphyry target located in San Juan Province, Argentina. Assay results for the upper 502m section of hole PIU-01 include:

• 304m @ 0.48% Cu, 0.68 g/t Au, 3.1 g/t Ag (1.07% CuEq)* (from 198 m);
  • including 132 m @ 0.71% Cu, 0.85 g/ Au, 4.3 g/t Ag (1.45% CuEq)* (from 220m); and
  • including 34 m @ 0.60% Cu, 0.93 g/t Au, 3.6 g/t Ag (1.38% CuEq)* (from 468m).

Assays results from 502m to 867m (End Of Hole) are expected shortly.

As previously reported, hole PIU-01 was designed to extend Cu-Au mineralization to depth on the southwestern margin of the Piuquenes Central porphyry. Drilling intersected the mineralized intrusion at a downhole depth of 198m as predicted. Supergene copper enrichment was observed from 220m to 380m downhole, coincident, and overlapping with primary mineralization from 350 meters. Strong primary mineralization associated with intense porphyry A type quartz stockwork veining is evident from 350m to approximately 650m. From 650m to the end of hole at 867m quartz veining and mineralization continues, becoming progressively less intense with depth. From 830m disseminated hematite/specularite-pyrite-chalcopyrite mineralization is hosted in volcanic host rocks outside the porphyry intrusive and remains open at depth.

Joseph van den Elsen, Pampa Metals President and CEO commented: "We are very pleased to report exceptional intervals of both supergene enriched and primary copper mineralization in the first hole of our maiden drill campaign at the Piuquenes Project. Excellent progress is being on the second hole which has been designed to further test the depth and lateral extensions of the previously reported mineralization at Piuquenes Central. Subsequent drill programs will also test the undrilled Piuquenes East porphyry target and other nearby targets identified on the property."

A Company Presentation is available at: www.pampametals.com/investor/presentations

Foto: Accesswire

Figure 1: Piuquenes Central Schematic Cross Section

Geology and Mineralization - Diamond Drillhole PIU-01

From surface to 198 m, PIU-01 intersected a fine-grained quartz diorite porphyry with evidence of Intermediate argillic alteration and secondary biotite. Sporadic quartz stockwork veining with disseminated oxidized sulfides are observed from 80 m, becoming more frequent from 150 m deep, coincident with intermineral potassic alteration and anomalous gold values.