Western Metallica announces that it has received the permit to drill from 19 platforms, along with approval of its Environmental Evaluation ('FTA') for
Luz Maria Highlights
Located on the West coastal line of
Surface agreement in place until 2028.
Resides in a large 3.0-kilometre by 1.5-kilometre Cu-Mo porphyry system.
Coinciding mag, >30mV/V chargeability, and Cu- and Mo-regolith geochemistry anomalies.
Permit to drill from 19 platforms is now fully granted.
The acquisition of the IP pole-dipole data, allowed to define a main >30 mV/V chargeability anomaly, coinciding with one of the magnetic anomalies previously interpreted as a possible intrusive as well as with the Cu and Mo soil anomalies obtained through the execution of recognition in-situ pXRF analyses .
Regolith geochemistry, chargeability, and magnetic anomalies are still open towards the West providing further prospective targets for the planned first phase of scout drilling expected to commence near term.
The exploration work at Luz Maria successfully defined, so far, a 3.0-kilometre by 1.5-kilometre phyllic and potassic alteration footprint, comparable in size to other major Peruvian porphyry deposits. The diamond-sawn channel sampling campaign executed to date displayed consistent anomalous grades up to 0.06% Cu and 0.03% Mo from multi-phase intrusions, confirming at least three intrusion phases that host both Cu and Mo-sulphide mineralization and locally associated to a weak biotite-replacement (refer to press release dated
The Company is also advancing drilling target generation at the Project's other porphyry prospect, Cana Brava 1, a 1-kilometre by 1-kilometre sized porphyry target characterized by a distinctive leached zone with goethite and hematite box works. Both environmental and social base lines, required to support the FTA process, are also being completed for this sector.
The diamond-sawn channel sampling campaign previously announced had confirmed grades up to 0.3% Cu and average 500 ppm Cu from intrusive rocks. The Company is now conducting an in-situ regolith geochemistry with portable XRF equipment aimed at following up the mag anomalies interpreted to be the expression of intrusive plugs related to mineralization. The results obtained so far are very encouraging with copper and molybdenum anomalies centered on the mag anomalies and still open in all direction.
Background
Western Metallica holds the option to acquire 100% of the mineral claims, rights, and interests in two Cu-Mo projects located in
Quality Assurance and Quality Control
Sample preparation and analyses will be conducted according to standard industry procedures. Rock samples are crushed, split, and pulverized prior to analysis of Gold by fire assay and Atomic Absorption and multi-elements by ICP-AES after four acid digestion. Analytical performance is monitored by means of certified reference materials (CRMs), coarse blanks, coarse and pulp duplicate samples. Samples are prepared and analysed at SGS lab in
About
Western Metallica is an
Contact:
Chief Executive Officer
Email: gduras@westernmetallica.com
Investor Relations
Email: info@westernmetallica.com
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute 'forward-statements.' Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. When used in this press release, the words 'estimate', 'project', 'belief', 'anticipate', 'intend', 'expect', 'plan', 'predict', 'may' or 'should' and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the planned drill program and the development of the Company's projects and other mining projects and prospects thereof, the impact of the management additions on the Company and the potential and economic viability of the Cana Brava and Turmalina Projects. Such statements and information reflect the current view of the Company. Risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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