Pampa Metals Closes First Tranche of Fully Subscribed Private Placement

Pampa Metals Closes First Tranche of Fully Subscribed Private Placement

Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIR)(OTCQB:PMMCF) is pleased to announce that it has issued 7,750,000 units ("Units") at a price of $0.16 per Unit under the Non-Brokered Private Placement offering (the "Placement") detailed in an December 19, 2023 News Release for gross proceeds of $1,240,000. Each Unit consists of one fully paid common share and a half share purchase warrant entitling the holder to acquire an additional common share at a price of $0.30 for a period of 3 years after the closing of the Offering

In connection with the Placement, the Company paid total cash commissions of $37,800 and issued 236,250 finder's warrants. Each finder's warrant is exercisable into a common share of the Company at an exercise price of $0.30 for a period of 3 years from the date of closing of the Offering.

The Company anticipates closing the 2nd and final tranche fully subscribed tranche of the Placement on December 22, 2023.

Proceeds of the Placement will fund follow-up diamond drilling at the newly acquired Piuquenes Copper-Gold Porphyry Project, where the Company recently reported 130m from 362m @ 1.31% CuEq*, within a broader interval of 558m from 362m @ 0.73% CuEq* which remains open at depth (refer 5 December 2023 News Release). Preparatory work is underway, and drilling is scheduled to commence in mid-January.

Securities issued in connection with the Placement will be subject to a four-month hold period, in accordance with securities laws and the policies of the Canadian Securities Exchange, as applicable.

The latest Company Presentation can be accessed at https://pampametals.com/investor/.

ON BEHALF OF THE BOARD
Joseph van den Elsen | President & CEO

INVESTORS CONTACT
Joseph van den Elsen | President & CEO
Joseph@pampametals.com

ABOUT Pampa Metals

Pampa Metals is listed on the Canadian Stock Exchange (CSE:PM), Frankfurt (FSE: FIR), and OTC (OTCQB: PMMCF) exchanges, and wholly owns a portfolio of projects highly prospective for copper, molybdenum, and gold along proven and highly productive mineral belts in Chile, the world's largest copper producer.

In November 2023, the Company announced it had entered into an Option & JV Agreement for the acquisition of an 80% interest in the Piuquenes Copper-Gold Porphyry Project in San Juan Province, Argentina.

Qualified Person

Technical information in this news release has been approved by Mario Orrego G, Geologist and a Registered Member of the Chilean Mining Commission and a Qualified Person as defined by National Instrument 43-101. Mr. Orrego is a consultant to the Company.

* %CuEq values are calculated based on copper and gold metal prices: Cu = US$3.20/lb, Au = US$1,700/oz and Ag = US$ 20/oz. The formula utilized to calculate %CuEq is: Cu Eq Grade (%) = Cu Head Grade (%) +

PM:CC
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Pampa Metals Intersects 304m at 1.07% CuEq* incl. 132m at 1.45% CuEq* from First Drillhole at the Piuquenes Porphyry Project, Argentina

Pampa Metals Intersects 304m at 1.07% CuEq* incl. 132m at 1.45% CuEq* from First Drillhole at the Piuquenes Porphyry Project, Argentina

Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIR)(OTCQB:PMMCF) is pleased to report assay results for the upper 502 meters of diamond drillhole PIU-01 (refer figure 1) which was recently completed to a depth of 867m at the Company's Piuquenes Central porphyry target located in San Juan Province, Argentina. Assay results for the upper 502m section of hole PIU-01 include

  • 304m @ 0.48% Cu, 0.68 g/t Au, 3.1 g/t Ag (1.07% CuEq)* (from 198 m);
    • including 132 m @ 0.71% Cu, 0.85 g/ Au, 4.3 g/t Ag (1.45% CuEq)* (from 220m); and
    • including 34 m @ 0.60% Cu, 0.93 g/t Au, 3.6 g/t Ag (1.38% CuEq)* (from 468m).

Assays results from 502m to 867m (End Of Hole) are expected shortly.

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Pampa Metals Intersects Wide Interval of Copper Mineralization at Piuquenes, Argentina

Pampa Metals Intersects Wide Interval of Copper Mineralization at Piuquenes, Argentina

Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIR)(OTCQB:PMMCF) is pleased to report that diamond drillhole PIU-01 (refer figure 1) was completed at a downhole depth of 867m. First assay results are expected shortly. Drillhole PIU 02, the second hole of the current program, has commenced

Hole PIU-01, designed to extend Cu-Au mineralization to depth on the southwestern margin of the Piuquenes Central porphyry, intersected a 160m zone of supergene copper enrichment between 220m and 380m downhole, coincident, and overlapping with primary mineralization from 350 meters. Strong primary mineralization associated with intense porphyry A type quartz stockwork veining is evident from 350m to approximately 650m. From 650m to the end of hole at 867m quartz veining and mineralization continues, becoming progressively less intense with depth. From 830m disseminated hematite/specularite-pyrite-chalcopyrite mineralization is hosted in volcanic host rocks outside the porphyry intrusive and remains open at depth.

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Pampa Metals Intersects Thick Supergene Copper Enrichment Blanket and Extends Primary Cu-Au Mineralization to Depth at Piuquenes, San Juan Province, Argentina

Pampa Metals Intersects Thick Supergene Copper Enrichment Blanket and Extends Primary Cu-Au Mineralization to Depth at Piuquenes, San Juan Province, Argentina

Pampa Metals" or the "Company") (CSE:PM)(FSE:FIR)(OTCQB:PMMCF) is pleased to report that drilling to test for lateral and depth extensions below previous high grade porphyry copper-gold intersections at the Piuquenes Cu-Au porphyry project has successfully intersected wide intervals of both secondary and primary mineralization. Excellent progress is being made and drilling is continuing

Diamond drillhole PIU-01 (refer figure 1), designed to extend Cu-Au mineralization to depth on the southwestern margin of the Piuquenes Central porphyry, intersected a 160m thick zone of supergene copper enrichment between 220m to 380m downhole, coincident and overlapping with primary mineralization from 350 meters. PIU-01 has been plotted to approximately 900 meters downhole depth, with primary mineralization continuing from 350m to the current hole depth of approximately 600m.

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Pampa Metals Announces Warrant Exercise

Pampa Metals Announces Warrant Exercise

Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIR)(OTCQB:PMMCF) is pleased to advise that a total of 7,105,586 share purchase warrants issued on November 10, 2022 (the "2022 Warrants") and March 2, 2023 (the "2023 Warrants"), have been exercised, realizing gross proceeds of $729,741.2022 and 2023 Warrants

The exercise price of 1,708,588 2022 Warrants and 5,857,734 2023 Warrants (7,566,322 total) was reduced to $0.095 and $0.105 in September and October of 2023 respectively (see news releases dated September 22, 2023 and October 23, 2023) and, in accordance with the policies of the Canadian Stock Exchange ("CSE"), the expiry date accelerated upon the Company's common shares closing at or above $0.125 in the case of the 2022 Warrants and $0.13 in the case of the 2023 Warrants, for a period of at least 10 consecutive trading days. This condition was met on December 14, 2023, and as a result, the expiry date of the 2022 Warrants and the 2023 Warrants outstanding was accelerated to January 23, 2024.

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Pampa Metals Commences Diamond Drill Program at the Piuquenes Copper-Gold Porphyry Project

Pampa Metals Commences Diamond Drill Program at the Piuquenes Copper-Gold Porphyry Project

Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIRA)(OTCQX:PMMCF) is pleased to advise that follow-up diamond drill testing at the Piuquenes Copper-Gold Porphyry project has commenced. The primary objectives of the program are to test the depth and lateral extension of the high-grade intervals of open mineralization at Piuquenes Central, and its potential to host an orebody of 1,000 m depth and 300 - 500 m diameter

Follow-Up Diamond Drill Program

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Vertex Minerals Limited  Identifies Additional Gold Resources at the Reward Mine

Vertex Minerals Limited Identifies Additional Gold Resources at the Reward Mine

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) is pleased to announce that the Company's engineering and geology team at the Reward Mine have identified an additional two stope block that have not been previously reported. These stopes will be incorporated into the overall mine schedule, but provide an early source of mill feed.

HIGHLIGHTS:

- VTX's Technical Services team has identified a fully developed stope block to include in the mine production start-up.

- Stopes are suitable for airleg mining which will augment jumbo production.

- Stope blocks contains an Inferred Resource of 2,075 tonnes at 17.8 g/t Au and forms part of the 2023 Mineral Resource Estimate. With the lower block having over 700 tonnes at 42.5 g/t. The planned stope width is the same as the interpretation of the mineralisation.

- Stopes are additional to the PFS mine schedule which is illustrated in Figure 2* showing the location of the additional stope.

- Stope blocks are fully developed and have been sampled from development.

- This stope can be exploited as soon as services have been established.

The stopes were developed by a previous operator and are accessible from existing development. The additional stope blocks contain an Inferred Resource of 2,075 tonnes at 17.8 g/t Au containing 1,189 ounces of gold with the lower block having over 700 tonnes at 42.5 g/t. The planned stope width is the same as the interpretation of the mineralisation. These stopes forms part of the Mineral Resource Estimate reported in VTX Announcement 22 June 2023. They were not included in the production forecast detailed in the 2024 Pre-Feasibility Study (Announcement 3 January 2024). This was due to the complexity of existing airleg workings and uncertainty around access and ground conditions and wide spaced drilling which established these areas into an Inferred Resource Category.

Note: 'The Mineral Resources are additional to the Ore Reserves.'

Subsequent investigations, which included physical inspection of the levels and completing a geotechnical assessment, have concluded that the stopes are fully developed and accessible.

The quartz veins are exposed in the existing development and have been sampled. In total ninety-seven (97) face samples were taken along the stope and assayed for gold. Figure 3* illustrates the sample grades diluted to 1.5m width, which represents a minimum mining width, and the locations along the stope.

The density of sampling around the stope locations, along with accessibility adds to the confidence that the Company can successfully mine this area very early in the start-up of underground production. The Company believes the inclusion of these stopes is significant to early production, and that the stopes will be mined before the Company updates the Resource and Reserve Estimates for the Project. These samples were not used in the Resource.

The Company plans to exploit this stope once the mine services have been established and bring this stope into the initial stages of the production schedule.

Vertex's Executive Chairman, Roger Jackson commented: "Our new technical team has been established, and it is great to see them looking for the opportunities to add value to the high-grade underground production start-up.

This really does show the potential this mine has for high grade expansion. We are in the process of re-opening the underground mine with the establishment of mine services. Dewatering of the declines has commenced and is progressing to schedule."

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/0C116659



About Vertex Minerals Limited:  

Vertex Minerals Limited (ASX:VTX) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.



Source:
Vertex Minerals Limited

News Provided by ABN Newswire via QuoteMedia

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Group Eleven Announces Appointment of Jasmine Lau as Chief Financial Officer

Group Eleven Announces Appointment of Jasmine Lau as Chief Financial Officer

Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce the appointment of Jasmine Lau, CPA, as Chief Financial Officer ("CFO") of Group Eleven, replacing Jeannine Webb, effective May 30, 2025.

Jasmine is a Vancouver-based Chartered Professional Accountant with over 16 years' experience in the resource sector, having served as the Chief Financial Officer for several mineral exploration companies. She is currently the CFO of Minaurum Gold Inc, Forte Minerals Corp., and Cascadia Minerals Ltd. Prior to that, Jasmine also served as CFO to a various number of other private and public mineral exploration companies.

News Provided by Newsfile via QuoteMedia

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