VANCOUVER, BC / ACCESSWIRE / April 30, 2024 / Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIR)(OTCQB:PMMCF) is pleased to report that drillhole PIU-03 (refer figure 1) has been completed to a downhole depth of 855m.

Hole PIU-03 was collared approximately 300m to the west of hole PIU-02 (refer figure 2) and drilled at an orientation of 75 degrees towards 085 (azimuth) to extend copper-gold mineralization to depth on the northeast and southeast sides of the Piuquenes Central porphyry, and to better delineate a newly identified core of strong chalcopyrite-bornite copper mineralization associated with intense porphyry quartz stockwork veining in hole PIU-02 (refer March 26 2024 News Release).

Geology and Mineralization - Diamond Drillhole PIU-03

Moderate intensity porphyry A type quartz veinlets were intersected from 70 m downhole, with copper oxides evident from 60m and strongest between 190-230 m, followed by a zone of moderate supergene copper enrichment from 230m to 430 m. Copper sulphide (chalcopyrite and bornite) mineralization is evident in quartz veining from 300 m.

Image 1: Copper oxides in quartz A-type veinlets associated with intermineral potassic (K feldspar-quartz) alteration overprinting early biotite-magnetite (216 m)

Image 2: Supergene Cu enrichment in porphyry A-type quartz stockwork veining with potassic (K-Spar) altered vein halos, overprinting early biotite altered quartz-diorite porphyry (245 m)

Quartz veining remains strong to 760m downhole, with the exception of two zones of sparse veining (370 - 410m and 500 - 510m). The veinlets can be very thick, associated with several geological events, including late banded, sinuous grey veinlets. Finely disseminated chalcopyrite, chalcopyrite-bornite and bornite is evident with some sections containing coarse and abundant chalcopyrite mineralization. From 760 m downhole the frequency of quartz veinlets decreases, although copper sulfide mineralization remains present, and the system remains open at depth.

Image 3: Intense porphyry A type quartz vein stockwork with several generations of veins with disseminated chalcopyrite and some bornite (486 m)

Assays have been prepared and dispatched to the ALS laboratory in Mendoza with results expected shortly.

Figure 1: PIU-03 Schematic Cross Section

Joseph van den Elsen, Pampa Metals President and CEO commented: "Following on from the exceptional porphyry copper-gold intersections reported in the first hole of our maiden drill campaign at the Piuquenes Project we are very pleased to observe long intervals of strong primary copper mineralization in the 2^nd and 3^rd holes drilled. Our maiden drill campaign continues to extend the depth and lateral extensions of mineralization at Piuquenes Central. A highly mineralized multi-phase porphyry system has been confirmed and remains open to depth and to the north-east. We expect to report assay results from hole PIU-02 imminently and are excited by what's in front of us as we continue advancing the outstanding opportunity we have delineated at Piuquenes Central and drill test a second, undrilled, outcropping porphyry target at Piuquenes East and other nearby targets."