Western Metallica Drills Large Multiphase Porphyry System at Its Caña Brava Cu-Mo Project IN PERU
WESTERN METALLICA DRILLS LARGE MULTIPHASE PORPHYRY
SYSTEM AT ITS CAÑA BRAVA CU-MO PROJECT IN PERU
TORONTO, ONTARIO – January 14, 2025 – Western Metallica Resources Corp. (TSXV: WMS)
(“Western Metallica” or the “Company”) is pleased to report initial results from its ongoing drill
program at the Luz Maria copper-molybdenum target, located within the Company’s 100%-owned
Caña Brava Project, Northern Peru . The initial two completed drill holes hit at least two diorite
intrusions and a polymictic hydrothermal breccia, displaying consistent strong potassic alteration,
multiple vein systems and sulfide mineralization typical of Andean porphyry systems. Results from
these two drill holes confirm homogeneous copper and molybdenum grades throughout the drill
hole. A third drill hole intercepted 285 metres of quartz-monzonite and shows increasing alteration
and mineralization intensity at depth. While most of the assays from this drilling program are
pending, Company geologists believe that the intensity and extent of the alteration and
mineralization system at Luz Maria indicates that the Company is operating within a major Cu-Mo
porphyry system.
Drilling Highlights:
• Three diamond drill holes have been completed to date at the Luz Maria prospect, all
directed from the center of the surface geochemical anomaly to the center of the main
chargeability anomaly. All drill holes intersected broad intervals of strongly altered
intrusive rocks, with strongly developed potassic, phyllic and sodic alteration
assemblages, typical of Andean porphyry systems.
• The ongoing drill program is aimed at testing the copper -molybdenum mineralization
found over an area of 500 metres by 300 metres, which represents less than 5% of the
Luz Maria alteration footprint area defined so far, and is focused on a sector featuring
strongly altered diorite and quartz-monzonite outcrops coincident with strong magnetic
and chargeability anomalies identified by drone magnetic and Induced Polarization
surveys completed during 2024.
• Drill hole LM24DD001, completed by contractor Energold to a depth of 396.1 metres,
intersected 275 metres of an altered and mineralized diorite host rock with continuous and
homogeneous grades averaging 400 ppm Cu and 100 ppm Mo.
• Strong, pervasive secondary biotite is observed throughout drill hole LM24DD001, often
overprinted by a phyllic alteration assemblage of quartz and sericite. Mineralization occurs
as chalcopyrite and molybdenite both as disseminations and in a stockwork of Early Biotite
(EB, refer to Figure 1) and B veins.
• Drill hole LM24DD002 was completed to a depth of 329.7 meters, with increasing
alteration intensity and veining. Results have been received for approximately 50% of the
samples obtained from this hole. The best result obtained so far is 1.8 metres at 0.2% Cu,
from 146.7-148.50 metres, within a zone featuring high-density pyrrhotite-chalcopyrite
veining (refer to Figure 2).
Figure 1 – LM24DD001 @ 54.70 metres – Subparallel Early Biotite veining and
disseminated chalcopyrite and molybdenite in biotite-altered diorite.
Figure 2 – LM24DD002 @ 148 metres - Irregular Pyrrhotite- Chalcopyrite
infill in biotite-altered diorite.
• Drill hole LM24DD003, the easternmost hole drilled to date, was terminated earlier than
planned at a depth of 330.45 metres due to operational issues. It intercepted a strongly
altered quartz-monzonite intrusion, which outcrops nearby and is considered a host rock
of the porphyry system. The intensity of the potassic alteration increases with depth and
is overprinted by sericite. Of significance, the density of pyrrhotite-chalcopyrite-
molybdenite veining also increases at depth suggesting an eastern vector to
mineralization (refer to Figure 3).
Figure 3 – LM24DD003 @ 326 metres – Quartz-Molybdenite-Pyrrhotite-Chalcopyrite
vein in biotite-altered quartz-monzonite.
• Drilling has confirmed the presence of a complex Cu -Mo porphyry system, with multiple
intrusion phases, and multiple alteration and mineralization events observed in both the
intrusive and siliciclastic sedimentary rocks.
Giovanni Funaioli, Vice President of Exploration of Western Metallica Resources commented:
“Our technical team has designed a 6-hole maiden scout drill program at Luz Maria to test the
potential size and grade of the porphyry system. The initial three shallow holes validated our
exploration approach and assumptions by confirming that the magnetic and chargeability
anomalies are related to a reduced copper-molybdenum bearing porphyry system, the source of
which we are yet to find. So far, we have only tested 300 metres of a 2.5 km-major axis of the E-
W trending alteration and mineralization surface footprint, and the increase in alteration intensity
and veining density to the east suggests that we are getting closer to the core of the system”.
Mr Funaioli continued: “The large alteration footprint, coupled with the multiphase intrusions,
widespread potassic alteration and well developed stockwork found in drilling, provide us with
enough evidence that we are beginning to test a major porphyry system. Furthermore, we have
dated the molybdenite at Luz Maria to 44Ma, a similar age to some of the main porphyry deposits
located in Southern Peru such as Hudbay Minerals Constancia Mine, Glencore’s Antapacay Mine,
MMG’s Las Bambas Mine, and Panoro Minerals Cotabambas Project.
The technical team is confident that not only will the Luz Maria porphyry system continue to grow
with further exploratory drilling but that we will prove prospective size and grades consistent with
equivalent deposits such as Element 29’s Elida Project. We continue to explore the other targets
identified on surface, such as Ca ña Brava 1, where the Company plans to drill a 1.5 km by 1.5
km phyllic alteration anomaly in the near future.”
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 project lies within the under-explored Northern sector of the Cu-Mo metallogenic belt of
Eocene age that hosts, to the South, world class deposits such as Las Bambas (MMG),
Cotabambas (Panoro Minerals Ltd.), Constancia (Hudbay Minerals Inc.), Antapacay (Glencore)
and discoveries such as Elida (Element 29 Re sources), the first porphyry deposit of this age
discovered in North Peru. The Company´s Caña Brava Project is well located in close proximity to
industrial ports, major paved roads and is comprised of large, contiguous mineral concessions
conducive to future project scalability.
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 1,500 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 Ju ly 15, 2024). Luz Maria is a well-preserved
porphyry system and priority drill target at the Caña Brava Project, where exploration work to date
has successfully defined a cluster of multi-stage mineralized intrusions within a large 2.7-kilometre
by 1.5-kilometre phyllic to incipient biotite -replacement alteration footprint , comparable in size to
other major Peruvian porphyry deposits, and featuring multiple mineralized intrusion events (refer
to press release dated September 24, 2024 ). The Company is also advancing with the drilling
permitting on its Caña Brava 1 prospect, located on the Northwest sector of the Caña Brava Project,
characterized by a distinctive 1.5-kilometre by 1.5-kilometre sized leached zone with goethite and
hematite box works. Both environmental and social base lines, required to support the FTA
process, have been completed for this sector. At Caña Brava 1, the diamond-sawn channel
sampling campaign confirmed grades up to 0.3% Cu from 7 different intrusive recognized to date.
Quality Assurance and Quality Control
Sample preparation and analyses are 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 and fine blanks, coarse and
pulp duplicate samples. Samples are prepared and analysed in 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, 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]
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This press release contains statements that constitute “forward-statements.” 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
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