Drill campaign started Another nice day for PM on news of the start of their drill campaign at Redondo-Veronica. 885,800 total shares traded.
$0.58 +0.01 | 1.75%Bid: 0.57 x 5500Ask: 0.58 x 5000Volume: 394,980
CADCANADIAN SECURITIES EXCHANGEDELAYED PRICEMARKET CLOSEDJUNE 29, 2021 3:38 PMEDT
Pampa Metals Starts Drilling Campaign in Northern Chile
VANCOUVER, BC / ACCESSWIRE / June 29, 2021 / Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIRA)(OTCQB:PMMCF) is pleased to announce that it has now started its reverse circulation ("RC") drill program at its Redondo-Veronica project in northern Chile. The first drill hole is currently at approximately 270 meters depth and is testing the Cerro Redondo Norte target. Drilling is currently progressing at a rate of approximately 70m per day.
The Company plans to complete approximately 2,000m of drilling in 5 or 6 holes at the 6,600-hectare Redondo Veronica project. The targets are characterised by a combination of geological, hydrothermal alteration, and geophysical features that have been interpreted to be representative of porphyry copper systems (see news release dated June 16, 2021).
This first phase of the 2,000m drill program is expected to take approximately 30 days to complete, including moving between holes. Assay results are expected 4 to 6 weeks after samples have been sent to the internationally certified analytical laboratory in Chile. Standard quality control measures, including the use of duplicate samples, standard samples, and blank samples, are being employed to ensure the efficacy of the sample preparation and analytical results.
Drill chip samples from the RC drilling campaign are being bagged and logged in the field by a team led by a highly experienced Chilean geologist. Geological, hydrothermal alteration and visible mineralisation logs of the small RC chips will be constructed in order to more fully determine the overall geological environment of the areas being tested, and in order to correlate the results from the sub-surface with geological and geophysical observations made at the surface.
Upon completion of this phase of drilling, the drill rig will be immediately mobilised to the Company's Cerro Buenos Aires project, where a similar drill campaign will be undertaken.
The company is also pleased to announce that it has entered into a marketing agreement with Lakefront Enterprises Inc. ("Lakefront"), of Vancouver, B.C., Canada. Lakefront will raise public awareness of the Company, including its social media presence, to facilitate greater investor engagement and widespread dissemination of the Company's news.
Don't be duped into selling your shares for cheap.
GLTA