Piuquenes

Highlights

Tier 1 Location

Proven Elephant Country for Porphyry Cu-Au
Belt hosts multiple giant, world class deposits

Discovery 1990s

Limited Drilling Historical intercepts include 413.5m @ - 0.47% Cu & 0.52 g/t Au Privately held since discovery

Entry Level Valuation into Company Making Asset

Strong Near Term News Flow

Assay Results Pending
Follow-up drilling commenced Jan 2024

Tier 1 Location

Figure 1

• San Juan Miocene Belt, Argentina
• Belt is host to numerous world class deposits
• Proximal to large scale copper projects at El Pachon (Glencore) and Altar (Aldebaran Resources)
• Project area ~1,880 hectares
• Moderate altitude (~3,600m) and excellent access

Discovery History

Figure 2

• Inmet Mining Corporation’s (IMC, subsequently acquired by First Quantum in 2013) 8 diamond drill holes for a total of 1,894.2m intersected significant copper and gold mineralization including:
  • 413.5 m (167-580.5 m) @ 0.47% Cu and 0.52 g/t Au;
  • 67.5 m (207-274.5 m) @ 0.63% Cu and 0.51 g/t Au; and
  • 158 m (3-161 m) @ 0.32% Cu and 0.6 g/t Au.
• In November 2023, Pampa Metals assayed and re-logged Anglo-American’s 2016 diamond borehole of 920.2 m length which had crossed the mineral zones previously drilled by Inmet Mining Corporation (IMC). These results were reported in a 5 December 2023 News Release and included:
  • 558.2 m (362-920.2 m EOH) @ 0.38% Cu & 0.42 g/ Au & 2.4 g/t Ag Including:
  • 130 m (362-492 m) @ 0.81% Cu & 0.6 g/t Au & 4 g/t Ag.
• Follow-Up Drilling (commenced 18 January 2024)

Follow-Up Diamond Drill Program

Figure 3

Figure 4

The follow-up program of up to 4 diamond drill holes, including two priority drillholes of ~850 – 900 m depth, commenced on January 18, 2024 and is summarized as follows:

• Hole 1 ( PIU-01 ) (refer figure 3) is orientated along a northeast-southwest geological section, proximate to the historical P8A (Inmet) and PIU16-DDH01 (Anglo) drillholes and designed to extend the depth of known mineralization at the southwestern edge of Piuquenes Central porphyry.
• Hole 2 ( PIU-02 ) (refer figure 4) is orientated along an east-west section, proximate to the historical P4 and P2 drillholes (Inmet) and designed to test the lateral extension of the mineralized body, primarily along the western edge of the Piuquenes Central porphyry.
• A 3^rd and possibly a 4^th hole will focus on extending known depth to the northeast and southeast edges of the Piuquenes Central mineral body and seek to validate a potential mineral column of 1,000 m depth and 300 - 500 m diameter.

Undrilled Upside - Piuquenes East

• Piuquenes East is characterized by:
  • Outcrops of sinuous and banded dark gray porphyry style quartz veinlets hosted within an altered intermineral porphyry; and
  • Mapped stockwork zone associated with a 400 x 300 m Cu-Au soil-rock geochemical anomaly co-incident with intermediate chargeability and intermediate-high resistivity anomalies in Electrical (IP) Geophysics.
• Two additional areas (Piuquenes South and Piuquenes Southwest) of outcropping porphyry intrusives, with evidence of porphyry-type quartz veinlets, also identified.
• Follow-up surface mapping and geochemistry on these 2 additional areas to commence, with a view to defining drill targets for future programs.