Pampa Metals expands strategic presence at Piuquenes Cu-Au Porphyry Project in Argentina

This development represents a significant milestone for Pampa Metals as the Company continues to strengthen its exploration portfolio and seek new growth opportunities in the region.

Pampa Metals has announced a significant expansion of its Piuquenes Cu-Au Porphyry Project in San Juan, Argentina, further solidifying the Company’s presence in one of the region’s most promising mineral belts.

Strategic Expansion of Piuquenes Cu-Au Project

In November 2023, Pampa Metals secured an interest in the privately held Piuquenes Cu-Au Porphyry Project, located adjacent to the Altar project owned by Aldebaran Resources Inc. The Piuquenes property lies roughly 190 km west of San Juan city and within proximity to several major copper deposits, including:

• El Pachón (Glencore) – 30 km to the south
• Los Pelambres copper mine (60% owned by Antofagasta plc) – across the Chilean border
• Los Azules (McEwen Mining) – 50 km northeast

Following a successful 2,592-meter diamond drilling campaign at Piuquenes Central (announced on June 17, 2024), the Company has completed a thorough evaluation of historic data, examining the entire 1,880-hectare property. Additionally, Pampa Metals employed WorldView-3 satellite geological remote sensing to analyze terrain variability, map geological alterations, and identify potential vectors leading to mineralization.

A 34% Increase in Property Area at No Cost

Pampa Metals has expanded the Piuquenes property by 643 hectares, increasing the total project area by 34% to 2,523 hectares. This expansion is part of the original option agreement signed on November 30, 2023, and was achieved without any additional financial outlay.

Unlocking the Potential of the Piuquenes Project

Joseph van den Elsen, President and CEO of Pampa Metals, expressed optimism about the project’s potential:

“The Piuquenes project is a transformative asset with the potential to host multiple deposits. We are thrilled to have increased the project area at no additional cost. During the upcoming 2024/25 field season, we aim to further delineate the size and grade potential of the first deposit at Piuquenes Central. At the same time, we will initiate drilling at Piuquenes East, an undrilled porphyry target. Additionally, we plan to advance other targets across the expanded property through surface exploration and geophysics.”

The Company’s efforts to explore new porphyry systems, combined with strategic expansion, position Pampa Metals to capitalize on the high mineralization potential of the San Juan Miocene belt, contributing to the growing importance of Argentina’s copper-gold sector.