Western Metallica Commences Drilling at Luz Maria Copper Porphyry Prospect
WESTERN METALLICA COMMENCES DRILLING AT
LUZ MARIA COPPER PORPHYRY PROSPECT
TORONTO, ONTARIO – November 20, 2024 – Western Metallica Resources Corp. (TSXV:
WMS) (“Western Metallica ” or the “ Company”) is pleased to announce that drilling has
commenced at the Luz Maria copper porphyry prospect having now progressed with 200 metres
of the 350 metres planned for the 1st of a total of 6 drill holes outlined for the current program for
an anticipated 2,100 metres of drilling . The intention is to test combined high magnetic and
chargeability anomalies as well as Cu and Mo geochemical anomalies obtained from the regolith
sampling programs . Previous rock sampling at Luz Maria confirmed consistent anomalous
grades up to 0.07% Cu and 0.06% Mo from multi-phase intrusions, with Cu regolith anomalies
open to West.
The Caña Brava Project has yet to be systematically explored, with a potential 10 kilometres
worth of structural corridors enhanced by WNW-ESE-trending fold axes and faults, positioned
in the northern sector of the Eocene -Oligocene Belt, similar to the Element 29 Resources Elida
porphyry system. The potential for identification of analogous size, grade and mineralization to
some key Andean systems is promising, an integral component of the Company’s shareholder
value objective to develop a sizeable resource and deliver a substantial discovery.
With the Caña Brava Project’s similarities to neighbouring large emerging copper discoveries
such as Hudbay’s Llaguen Cu -Mo deposit (refer to Hudbay Mineral's Llaguen Reserve
Estimates), characterized by similar regolith grades concurring with alike geophysical signature
(chargeability), the Company anticipates Luz Maria to likewise host shallow, high -grade
mineralization over a meaningful strike length.
The Company anticipates geological news including potential visual evidence of alteration by the
end of November along with the first 50-metres worth of samples to be sent for assay, initial drill
results expected by the first week of December. The Company aims to provide consistent updates
as it relates to the ongoing drill program, reporting on a forecasted 100-150 assays per month.
Gregory Duras, Western Metallica’s Chief Executive Officer and Director, commented, “We are
extremely pleased to report the launch of our drilling operations at Luz Maria. Given the porphyry
system’s size and type that corresponds to other major Andean porphyry systems, and following
on encouraging sampling and geophysical survey results, we are fortunate to have the opportunity
to advance such a significant copper asset with vast exploration potential into the drill phase. The
Company anticipates results from the first three drill holes near term , expecting that they would
provide evidence of the potential for Caña Brava to be a n economically viable Cu-Mo project.
Combined with low elevation, proximity to the port of Salaverry and Trujillo, with large, contiguous
mineral concessions conducive to future project scalability , thes e encouraging results should
garner some long overdue attention by major producers in the region as well as investor markets.”
Figure 1: Drill rig positioned and in operation at the Caña Brava Project, Luz Maria porphyry prospect.
Background
Western Metallica holds the option to acquire 100% of the mineral claims, rights, and interests in
Caña Brava, a Cu -Mo project located in Northern Peru ( refer to press release dated August 10,
2023). The Caña Brava Project is a highly prospective 5,700-hectare package of concessions
located 30 kilometres from the Peruvian coast, at an elevation of 1, 300 metres in the Western
Cordillera of the Peruvian Andes . The Caña Brava Project is neighboring Hudbay’s Llaguen Cu -
Mo 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. Western Metallica recently announced the
launch of a first drill program at its Luz Maria copper-molybdenum porphyry prospect after having
received its permit to drill from 19 platforms (refer to press release dated July 15, 2024).
The Luz Maria prospect is one of two well-preserved, partially eroded porphyry centres found to
date within the Caña Brava Project, characterized by a cluster of multi-stage mineralized intrusions
within a large 2.7-kilometre by 1.5-kilometre phillic to incipient biotite -replacement alteration
footprint. The Eocene-age Luz Maria (44Ma ±0.2Ma) porphyry prospect, on the South-East sector
of the Caña Brava Project, has a similar age as some world class porphyry deposits located on the
same metallogenic belt, to the South, such as MMG’s Las Bambas Mine, Hudbay Minerals
Constancia Project and Glencore’s Antapacay Mine.
Qualified Persons
The technical and scientific information in this press release has been reviewed and approved by
Mr. Giovanni Funaioli, EurGeol, 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.
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 option to acquire a 100% interest in the Caña
Brava copper-molybdenum project located in La Libertad Department, Peru. 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
The TSXV has neither approved nor disapproved the contents of this press release. Neither the
TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV)
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
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 inf ormation 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 Caña Brava
Project. 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.