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Western Metallica Resources Corp
Symbol WMS
Shares Issued 71,728,630
Close 2024-05-14 C$ 0.045
Market Cap C$ 3,227,788
Recent Sedar Documents

Western Metallica samples 2.9% Cu on avg at Turmalina

2024-05-15 10:50 ET - News Release

Mr. Gregory Duras reports

WESTERN METALLICA RETURNS AVERAGE VALUES OF 2.9% CU AND CONFIRMS HISTORICAL RESULTS FROM TURMALINA COPPER-MOLYBDENUM PROJECT IN PERU

Western Metallica Resources Corp. has released initial results from its continuing sampling program at the company's 2,747-hectare Turmalina project, a high-grade copper-molybdenum past-producing mine hosted in tourmaline breccia pipes.

The recent rock chip sampling (refer to Figure 2) confirmed the historic results, as well as fit within the historical grade sections of the main breccia pipe in Figure 3, at both level 0 and level 5 that, are the only levels partially accessible currently (see Figure 3). The only sample collected from a face at level 0 returned Cu value of 0.1%, Mo >1%, with 1g/t Au and 37g/t Ag. More consistently 6 samples have been collected along level 5 that returned an average Cu value of 2.9% (MAX 5.9%) and average Mo values of 0.19% with one sample above 1% Mo.

Greg Duras, President and CEO of Western Metallica, commented: "It is encouraging to see such high grades in an underexplored Project in Peru, a country that hosts several world-class copper porphyry mines and projects. We believe Turmalina has an intact exploration potential that needs to be tested to define what could be a new high-grade copper-molybdenum resource."

The Turmalina Project is located in the Piura region of northern coastal Peru, approximately 170 kilometres by road from the Pan-American coastal highway to the west. The Project is located at an elevation of 2,600 metres in the western Cordillera of the Peruvian Andes near the coast and along a major road, lying within the same metallogenic belt as major projects such as Rio Blanco, Canariaco and La Granja.

The project is characterized by widespread, kilometre-scale, porphyry-style phyllic alteration, sulfidic veining, and several quartz tourmaline breccia pipes of which at least two are mineralized, suggesting the potential exists for a very large porphyry copper-molybdenum system at depth (refer to Figure 1).

One of the high-grade copper-molybdenum breccia pipes at Turmalina was the site of a historic producing mine with five production levels. The mine was active for ~25 years from the late 1960s until the mid 1990s, producing copper and molybdenum concentrates. Previously operated by Hochschild and then by Peruvian mining pioneer Guido del Castillo, the mine was shut down in the mid-1990s due to low commodity prices during that period.

The mine is known to have had an output rate between 100 tonnes and 300 tonnes per day by the 1990s, up from less than 100 tonnes per day in the 1970s. The mine has historically produced between 2 million and 3 million tonnes, with reported head grades of 2.0% Cu and 0.40% Mo and metallurgical recoveries of approximately 70% for copper and 95% for molybdenum. Historical reports indicate that the concentrates produced graded up to 35% copper and 95% molybdenum. There is significant exploration potential at Turmalina, with no exploration drilling taken place since the late 1990s and where several breccia pipes with no historic production have been mapped on surface but have to be drilled.

The mineralized breccia pipe measures approximately 175 metres in diameter and extends 350 metres in depth, remaining open at depth. Mineralization occurs as open space fillings, disseminations, and sulfide-rich vein, consisting of pyrite, chalcopyrite, minor bornite, molybdenite, and arsenopyrite within a quartz-tourmaline matrix. A pyrite-bearing silicified halo to the breccia extends approximately 100 metres away, increasing the exploration potential significantly.

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 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, 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 Cana 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: Cana 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).

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