Western Metallica to Start Drilling at Its Luz Maria Copper Porphyry Prospect IN PERU
WESTERN METALLICA TO START DRILLING AT
ITS LUZ MARIA COPPER PORPHYRY PROSPECT IN PERU
TORONTO, ONTARIO – September 24, 202 4 – Western Metallica Resources Corp. (TSXV:
WMS) (“Western Metallica” or the “Company”) is pleased to announce the launch of a first drill
program at its Luz Maria copper porphyry prospect , with commencement of operations to occur
in October. The Luz Maria prospect is located within its 100%-owned Caña Brava Copper Project
in the La Libertad Department of Northern Peru , a well-situated project less than 12 kilometres
east from Hudbay’s Llaguen Cu -Mo deposit , a large emerging copper discovery which hosts
shallow high -grade mineralization and holds many similarities to neighboring Caña Brava. In
parallel to the inaugural drilling at Luz Maria, the Company is also advancing drill target generation
at the Project’s other porphyry prospect, Caña Brava 1.
The Company recently received its permit to drill from 19 platforms at its Luz Maria copper -
molybdenum porphyry prospect, along with approval of its Environmental Evaluation for Luz Maria
from the Peruvian Ministry of Energy and Mines (“MINEM”) (refer to press release dated July 15,
2024). The prospectivity of the Luz Maria porphyry target has been enhanced by geochemical
work, Induced Polarization and drone-borne magnetic surveys in early 2024. The work confirmed
an inventory of drill ready, prime copper targets, further highlighting the potential for a large
porphyry Cu -Mo cluster under the sedimentary and colluvial cover , which speaks to the
opportunity for a significant discovery.
This first phase drilling program, planned to start by the last week of October, targets the modelled
magnetic bodies that are coincident with the strong chargeability (>30mV/V) Induced Polarization
Pole-Dipole as well as the Cu and Mo geochemical anomalies (refer to press release dated July
15, 2024). A total of 6 priority holes ha ve been delineated, with 3 of the 6 priority holes planned
to test the favorable target/s that probably reflect the presence, at relative shallow depth, of Cu /
Mo sulphide-rich magnetic bodies (refer to Figure 1).
Gregory Duras, Western Metallica’s Chief Executive Officer and Director, commented, “Western
Metallica is excited to initiate its inaugural drill program at its Luz Maria copper porphyry prospect.
The Company has refined its interpretation of exploration data collected over the past few months
on this very exciting flagship copper project , in order to extract the most meaningful information
for target delineation. The team is excited about the potential for new discoveries at the Luz Maria
prospect, which we believe, following drill confirmation of anticipated grades, could have a
compelling impact on the Company and the Projects value.”
Figure 1. Luz Maria Prospect: Location map of Phase 1 drill holes over RTP mag anomaly and >30mV/V
chargeability countour map.
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 prominent 3.0 -kilometre by 1.5 -
kilometre phyllic and potassic alteration footprint, comparable in size to other major Peruvian
porphyry deposits, and featuring multiple mineralized intrusion events. New high resolution age
dating by the Company from Luz Maria has confirmed an Eocene age of 44.5Ma ±0.2Ma for the
mineralization, firmly placing it in the same copper -productive age range as other very large
porphyry systems of Peru and Chile, including Las Bambas, Cotabambas, Constancia, Antapacay
and more recent discoveries such as Elida . The Company´s diamond-sawn channel sampling
campaign demonstrated a coherent and strong broadly coincident Cu and Mo geochemical
anomalies up to several 100s of ppm in magnitude from multi -phase intrusions. Detailed
mapping confirmed at least four intrusion phases hosting both Cu and Mo-sulphide mineralization,
locally associated with weak biotite-replacement.
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 Resources) , 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.
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.