Western Metallica Awarded Drilling Permit FOR Caña Brava Copper Porphyry Project IN PERU
WESTERN METALLICA AWARDED DRILLING PERMIT FOR
CAÑA BRAVA COPPER PORPHYRY PROJECT IN PERU
TORONTO, ONTARIO – July 15, 2024 – Western Metallica Resources Corp. (TSXV: WMS)
(“Western Metallica” or the “Company”) is pleased to provide an update on its current exploration
activities aimed at advancing the Luz Maria and Caña Brava 1 drill targets, two key copper-
molybdenum porphyry prospects located within its 100% owned Caña Brava Project, situated in
the La Libertad Department of Northern Peru.
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 from the Peruvian Ministry of Energy
and Mines (“MINEM”), which enables the Company to commence its drilling program at Luz Maria.
The Company has filed notice for permit activation, has obtained the local water permit as well as
the plan for archaeological monitoring, as required to commence drilling. Luz Maria is a well-
preserved porphyry system and priority drill target at Caña Brava given its prominent potassic and
phyllic alteration footprint with multiple mineralized intrusion events. The Company is finalizing the
plans for its inaugural drill program in Peru intended with an initial 2,000-metre diamond drill
program.
Luz Maria Highlights
• Located on the West coastal line of Peru, on the South-East sector of the Caña Brava Pro-
ject, close to infrastructure, highway, and power.
• 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 (refer to Figures 1, 2 and 3).
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 de-
posits. 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 associ-
ated to a weak biotite-replacement (refer to press release dated January 22, 2024).
The Company is also advancing drilling target generation at the Project’s other porphyry
prospect, Caña 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 (refer to Figure 4).
Figure 1 – Luz Maria Prospect – Regolith Mo (left) and Cu (right) portable XRF geochemistry anomalies,
and position of the drilling platforms covered by the recently granted permit.
Figure 2 – Luz Maria Prospect – Diagram showing the regolith Cu anomalies with respect to the mag
anomalies (left) and the chargeability anomalies (right). Collar position and traces of the planned first phase
diamond drill holes are also shown.
Figure 3 – Luz Maria Prospect – Diagram showing the regolith Mo anomalies with respect to the mag
anomalies (felt) and the chargeability anomalies (right). Collar position and traces of the planned first phase
diamond drill holes are also shown.
Figure 4 – Caña Brava 1 Prospect – Regolith Mo (left) and Cu (right) portable XRF geochemistry anomalies
with respect to the interpreted high mag susceptibility body (dotted red line) and mapped extent of the
leached cap (dotted yellow line), The position of the proposed drilling platforms is also indicated.
Gregory Duras, Western Metallica’s Chief Executive Officer and Director, commented, “Receiving
the drilling permit at Luz Maria is a major milestone which puts the Company in a position to
commence its first copper-focused drill program at its Caña Brava Project, located in such a
favorable sector of La Libertad, Peru. The Company’s drill permitting efforts advanced quickly in
conjunction with the exploration teams ongoing non-invasive field work, preparing us to commence
drilling, with a multitude of systematically assessed drill targets across a prominent alteration
footprint of well-preserved porphyry systems. Western Metallica is building a compelling portfolio
of copper exploration properties in highly prospective and underexplored porphyry belts in Peru,
with excellent access and nearby infrastructure, which we firmly believe will generate significant
accretive value to our shareholders once a Phase 1 program is advanced.”
Background
Western Metallica holds the option to acquire 100% of the mineral claims, rights, and interests in
two Cu-Mo projects located in Northern Peru: Caña Brava and Turmalina (refer to press release
dated August 10th, 2023). Both projects lie in a prolific Cu-Mo metallogenic belt, extending from
Northern Peru into Ecuador, which has seen notable exploration success and hosts world class
discoveries and deposits such as La Granja (First Quantum), Cañariaco (Alta Copper), and Rio
Blanco (Zijin Mining Group). The Company´s projects are well located in proximity to industrial ports
and major paved roads, and each project is comprised of large mineral concessions conducive to
future project scalability.
The Caña Brava Project is a highly prospective 5,700-hectare (2,600 hectares granted to date)
copper-molybdenum property located in the La Libertad Department, only 35 kilometres inland from
the Peruvian coast and at an elevation of 1,500 metres in the Western Cordillera of the Peruvian
Andes. The Caña Brava Project is neighboring Hudbay’s Llaguen Project which lies on the Western
margin of the Miocene epithermal-porphyry copper-gold belt of Northern Peru, with the potential
for Caña Brava to similarly host shallow high-grade mineralization across a considerable alteration
footprint.
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 Lima, Peru.
Qualified Persons
The technical and scientific information in this press release has been reviewed and approved by
Mr. Giovanni Funaioli, Eur.Geol., Vice President Exploration of Western Metallica, who is a
“Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral
Projects. Mr. Giovanni Funaioli is an employee of the Company and is not considered independent
under NI 43-101. Some of the technical information relating to the Caña Brava and Turmalina
Projects is historical in nature and has not been independently verified by the Company.
About Western Metallica Resources Corp.
Western Metallica is an Ontario registered company with its head office in Toronto, Ontario, trading
on the TSX Venture Exchange under symbol WMS. Western Metallica is in the business of mineral
resource exploration and development and holds the options to acquire a 100% interest in two
copper projects in Peru: Caña Brava, in La Libertad Province, and Turmalina, in Piura Province.
Western Metallica is also advancing its 100% owned Nueva Celti Copper Property in the Ossa
Morena belt in Andalusia, Spain, and three other Spanish gold projects in the “Navelgas Gold Belt”
in Asturias, Spain (Penedela, Valledor and Sierra Alta).
Further information of the Company can be found at: www.westernmetallica.com
For more information please contact:
Western Metallica Resources Corp.
Gregory Duras
Chief Executive Officer
Email: [email protected]
Investor Relations
Email: [email protected]
Cautionary Note Regarding Forward-Looking Statements
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accepts responsibility for the adequacy or accuracy of this press release.
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
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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
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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 Caña 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.
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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.