Drilling Progress at Piuquenes Copper-Gold Mine in Argentina

Pampa Metals announced that extensive high-grade copper-gold ore was encountered in drilling at the central porphyry system of its Piuquenes project in San Juan Province, Argentina.

The PIU-08 drill hole was primarily designed to verify the western (near-surface) and eastern (deep) extensions of the aforementioned orebody.

The hole intersected 570 meters of ore at a depth of 188 meters, with a copper grade of 0.39%, gold of 0.24 g/mt, and silver of 2.69 g/mt. Within this, 298 meters of ore was intersected at a depth of 192 meters, with a copper grade of 0.54%, gold of 0.39 g/mt, and silver of 3.45 g/mt.

The drilling confirmed the eastward extension of the central deposit at Piuquenes.

According to the company's announcement on March 11, 2024, the PIU01-2024 drill hole, located 240 meters southwest of PIU-08, intersected 304 meters of ore with a copper grade of 0.48%, gold of 0.68 g/mt, and silver of 3.1 g/mt. This included 132 meters of mineralization with a copper grade of 0.71%, gold of 0.85 g/mt, and silver of 4.3 g/mt.

The company's announcement on May 23, 2024, revealed that the PIU03-2024 drill hole, located north of PIU-08, intersected 801 meters of ore with a copper grade of 0.40%, gold of 0.51 g/mt, and silver of 2.87 g/mt. This included 518 meters of mineralization with a copper grade of 0.53%, gold of 0.73 g/mt, and silver of 3.45 g/mt.

The highest-grade copper-gold ore occurs in multistage porphyry Type A and Type B veins, dominated by chalcopyrite with minor bornite and some secondary chalcocite in the upper parts.

There is a significant amount of copper-gold ore in the vicinity of the central Piuquenes area, indicating substantial exploration potential.

On April 30, 2025, the company announced a new discovery. The PIU06 drill hole intersected 208 meters of ore at a depth of 292 meters, with a copper grade of 0.31%, gold of 0.13 g/mt, and silver of 1.24 g/mt.