Pampa Metals (CSE:PM) has reported progress in its 2024/25 drilling program at the Piuquenes copper-gold porphyry project in San Juan, Argentina. The company announced the completion of its second drill hole, PIU-05 2025DDH, to a total depth of 1,104.5 meters, and the initiation of drilling on a third hole, PIU-06 2025DDH, at Piuquenes East.
Joseph van den Elsen, Pampa Metals President and CEO commented: “We continue to make excellent progress at Piuquenes, with hole PIU-05 having significantly expanded the footprint of the Piuquenes Central porphyry system and intersecting the most bornite-rich mineralization yet encountered. We are now drill testing a second compelling, undrilled porphyry target which outcrops at Piuquenes East and advancing several other targets through surface exploration, as we pursue significant shareholder value through the discovery and delineation of an economic deposit(s) on the Piuquenes property”.
Overview of the Piuquenes Project
The Piuquenes copper-gold porphyry project is located in the San Juan Miocene porphyry belt, a region known for its large-scale copper-gold systems. The project lies adjacent to Aldebaran Resources’ Altar porphyry copper system, a significant deposit in the area. Other notable deposits in the region include El Pachón (Glencore), located approximately 30 kilometers south, and Los Azules (McEwen Mining), 50 kilometers to the northeast. The region also hosts the Los Pelambres copper mine operated by Antofagasta plc in Chile.
This geological belt has drawn interest from major mining companies, including Rio Tinto, South 32, BHP, and Teck, reflecting its potential for large-scale resource development. Pampa Metals’ Piuquenes project is part of this cluster of high-potential assets, with exploration efforts focusing on delineating and extending mineralization.
Drill Hole PIU-05: Geology and Results
Drill hole PIU-05 was positioned as a step-out hole, located 220 meters east of a previous drill hole, PIU16-01DDH, and 270 meters southwest of PIU02-2024DDH. Earlier results from these nearby holes included intervals of 558 meters grading 0.38% copper and 0.42 grams per tonne gold, and 448 meters grading 0.42% copper and 0.46 grams per tonne gold, respectively. The goal of PIU-05 was to extend the mineralized system and probe deeper into the porphyry.
The hole penetrated through 42 meters of transported cover before encountering variably altered, veined, and brecciated pre-mineral diorite porphyry host rock down to a depth of 570 meters. This section included zones of magmatic-hydrothermal breccia containing biotite-magnetite cement. Between 570 and 660 meters, and again from 810 to 1050 meters, the drill intersected intervals of quartz-bearing causative porphyry, consistent with findings from earlier drilling campaigns. Below 1050 meters, the rock transitioned to intermediate host rock intrusions.
Alteration patterns showed distinct zoning. Near the surface, phyllic and intermediate-argillic alteration dominated, giving way to biotite-magnetite potassic alteration below 250 meters. Between 350 and 1050 meters, K-feldspar-bearing alteration was observed, overprinting earlier biotite-bearing potassic zones. Locally, chlorite-illite alteration and phyllic alteration associated with anhydrite-pyrite veins were also noted.
Quartz-sulfide veining became evident from 250 meters, intensifying up to 690 meters before declining beyond 720 meters. Several vein phases were identified, including bornite-dominated quartz A-veins and later chalcopyrite-rich, quartz-poor veins. Between 860 and 1050 meters, a banded quartz-magnetite-pyrite vein phase was encountered, with some intervals exhibiting high-density stockwork zones.
The presence of a consistent bornite zone between 530 and 690 meters is particularly noteworthy. Although bornite remains subordinate to chalcopyrite overall, this zone may indicate proximity to a high-grade bornite-dominated core at depth.
Drilling Progress at Piuquenes East
Following the completion of PIU-05, Pampa Metals commenced drilling at Piuquenes East with PIU-06. This target area has been identified as a priority within the Piuquenes-Altar porphyry cluster. Surface features include a 400 by 300-meter copper-gold soil anomaly and a sinuous, banded quartz veinlet stockwork zone, indicative of porphyry-style mineralization. Geophysical data supports this interpretation, revealing intermediate chargeability and intermediate-to-high resistivity anomalies.
The Piuquenes project sits in one of the world’s most active regions for copper-gold exploration. With established deposits and ongoing activity from major mining companies, the San Juan Miocene belt remains a focus for resource development. Pampa Metals’ work at Piuquenes adds to the growing body of evidence supporting the district’s potential to host significant mineral resources.
The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.
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