Pampa Metals has discovered a new porphyry copper-gold system at its Piuquenes East project in Argentina, marking a significant milestone for the exploration company. The initial drill hole, PIU-06, intersected 98 meters of mineralization grading 0.49% copper and 0.16 grams per tonne of gold, suggesting the potential for a substantial mineral deposit.
Located in the San Juan province, the Piuquenes East discovery is situated near other major copper projects, including Aldebaran Resources' Altar system. The newly identified porphyry system displays characteristics similar to world-class deposits in the region, with multiple alteration phases and complex geological structures.
The drill results indicate the system is entirely open to the north, west, and east, providing substantial room for future exploration. Notably, the mineralization begins below the copper oxidation zone, with consistent gold grades appearing early in the drill core and copper mineralization becoming more prominent at deeper levels.
Geologically, the Piuquenes East system exhibits a complex multi-phase character, featuring different alteration stages including potassic, chlorite-sericite-smectite, and advanced argillic alterations. These characteristics are typical of significant porphyry deposits in the San Juan and adjacent Chilean mining districts.
While initial results are promising, the company acknowledges that the discovery is in its earliest exploration stages. The breccia component of the system is currently only sporadically mineralized, but geological similarities to other major deposits suggest potential for future expansion and higher-grade zones.
The discovery represents a strategic advancement for Pampa Metals, positioning the company to potentially develop a significant copper-gold project in a region with established mining infrastructure and active exploration by major international mining companies.
