Pampa Metals has announced a significant geological discovery in Argentina's San Juan Province, revealing a new copper-gold porphyry system at the Piuquenes East site that demonstrates promising mineral potential. The first drill hole, PIU-06, intersected a substantial mineralized interval of 98 meters averaging 0.49% copper and 0.16 grams per tonne of gold, confirming the presence of a previously unknown mineral deposit.
Located adjacent to Aldebaran Resources' Altar porphyry system, the Piuquenes East discovery is situated in a region renowned for its mineral wealth. The area is part of the San Juan Miocene porphyry belt, which hosts several significant copper mining operations, including El Pachón and Los Azules. This geological context enhances the potential significance of Pampa Metals' discovery.
The newly identified porphyry system exhibits characteristics of world-class mineral deposits, featuring multiple alteration phases and complex geological structures. Notably, the drill hole revealed a sequence of alteration stages, including high-temperature potassic alteration, moderate-temperature chlorite-sericite-smectite and phyllic alterations, and an advanced argillic overprint associated with high sulfidation mineralization.
Geologically, the Piuquenes East system is particularly intriguing because it is entirely unexplored in multiple directions. The current drilling indicates the system remains open to the north, west, and east, suggesting substantial potential for future exploration and potential resource expansion. The multi-phase nature of the deposit, with varied breccia textures and mineral compositions, indicates a complex geological environment that could host significant mineral resources.
Company President and CEO Joseph van den Elsen highlighted the importance of this discovery, noting that the results validate the Piuquenes project as a multi-system asset with considerable exploration potential. The findings also align with Pampa Metals' strategic goal of developing a leading South American porphyry copper exploration portfolio.
While the current results are preliminary, the discovery represents a significant milestone for Pampa Metals. The company plans to continue systematic exploration of the 2,500-hectare property through additional geological mapping, geophysical studies, and targeted drilling to further understand the extent and potential of the Piuquenes East porphyry system.
