Published On: April 23rd, 2022
Pampa Metals, led by CEO A Paul Gill, is one of the rising junior copper mining companies in Canada. Pampa Metals currently owns a portfolio of over 62,000-hectare that is prospective for copper and gold. The eight projects are located along Chile copper mine and Chile gold mining belt with historic data of rich mining.
Pampa Metals is listed on the Canadian stock exchange (CSE: PM) and Frankfurt stock exchange. Pampa Metals Stock in Canada is currently trading at CAD 0.30. The company has shown a 52-week range of CAD 0.26 to CAD 0.60. This is one of the companies to keep an eye on. As a follow-up to our previous article on Pampa Metals, this article highlights the latest news on the junior copper exploration and mining company.
Project Updates and Announcements of Pampa Metal
1. Joint Ventures with Austral Gold and VerAl Discoveries Inc.
Pampa Metals had signed a joint venture with Austral Gold Limited in the second half of 2021. Under the joint venture agreement, Austral Gold Limited can also benefit from the success of the Morros Blancos and Cerro Blanco projects.
Pampa Metals has also signed a joint venture with VerAI Discoveries Inc, which is an artificial intelligence company focusing on AI for junior copper exploration and mining. The agreement was announced in February 2022 and targets all 8 properties. Together, the partnership will benefit the company’s endeavors in copper metals as well as precious metals.
Commenting on the partnership, CEO A Paul Gill said, “Pampa Metals’ activities and advances, together with those of its partners, is giving the Company maximum leverage towards its value-accreting discovery objective from greenfield projects in one of the world’s leading mining jurisdictions.”
2. Morros Blanco Project
The Morros Blancos Project spans over 7300 hectares in Northern Chile, approximately 75 kilometers from Taltal city. The project is 100% owned by Pampa Metals. The property is subject to 3% NSR royalties for base metals and 2% NSR royalties for precious metals. The project is prospective for several gold, copper, and silver deposits and mines. Since the property is located along the Paleocene mineral belt, it is an important copper mine trend and lies east of the Amancaya gold-silver mining district.
Morros Blancos Project Geology
As of March 2022, Pampa Metals along with their venture partner Austral Gold Limited have started drill testing for the project. The drilling will be done at the Rosario Del Alto target and is expected to consist of five 2,000-meter diamond drill holes. The company expects to announce results for the drill holes early in the second quarter of 2022.
The company has already identified three prospective areas within the property for deposits. Pampa Metals has already completed systematic surface geochemical sampling of the project. The sampling revealed a high sulphidation pathfinder anomaly that was centered in Rosario Del Alto. The drilling will be done in these areas and will focus on understanding the geological, geochemical, and geophysical features of the deposits and mines.
3. Cerro Blanco and Cerro Buenos Aires Project
The Cerro Blanco and Cerro Buenos Aires Projects span over 6500 and 7600 hectares and are prospective for porphyry-style copper as well as epithermal gold and silver deposits. The property is located in the heart of the Paleocene mineral belt, which is in Northern Chile. The projects are at moderate altitudes and can be accessed via Pan American Highway. Pampa Metals is in the process of completing an induced polarization survey (IP) at the Chiquitin drill target. In February 2022, it was announced that the results of the drilling are expected in the next month.
Cerros Blanco Project location
Commenting on the project’s progress, Pampa Metals’ CEO A Paul Gill said, “After completing extensive geological mapping and geophysical campaigns, Pampa Metals has drill tested four porphyry copper targets distributed between two separate projects in its first year of existence, with three of those targets slated for possible further drill follow-up. The Company is currently acquiring detailed geophysical data over one of those drill targets at the Cerro Buenos Aires project.”
Cerro Buenos Aires Project Geology
Austral Gold Limited has announced that they have completed mapping, rock sampling, and magnetometry at the project (Cerro Blanco). In addition, Pampa Metals have also completed drilling in late 2021 (as announced on December 7, 2021) at Cerro Buenos Aires (project). The results showed geological, geochemical, and hydrothermal alterations, anomalies, and zonation patterns which showed potential for copper porphyry.
Since the result, the company has undertaken an induced polarization survey and is focused on Cerro Chiquitin, a target area in Cerro Buenos Aires Project. Pampa Metals is also planning a follow up diamond drill testing which will be started once the induced polarization survey results are announced.
These are the recent updates on the three projects of Pampa Metals. Other than these, Pampa Metals has five other projects wherein they are making headway. As the company grows, investors can expect new updates regularly from Pampa Metals.
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References
PM Stock Price | Pampa Metals Corp. Stock Quote (Canadian Securities Exchange) | MarketWatch
