Western Metallica Resources Corp.
(TSXV: WMS)
(“
Western Metallica” or the
“
Company”) is pleased to announce initial results
from its ongoing 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.
Figure 1 - Turmalina Project – Location of the
known breccia pipes and old mine tailings.
Figure 2 - Turmalina mine –Plan view
showing the surface projection of level 4 (the only historical
survey available), the location of the Western Metallica rock chip
samples described above and the cross-section trace (Figure 3).
Figure 3 - Turmalina mine –N-S section (looking
E) of the mine with Cu (left) and Mo (right) grade contours (from
historical plans) and location of the rock samples assays from the
Western Metallica validation program.
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 Caña 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: Caña 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).
Further information of the Company can be found
at: www.westernmetallica.com
For more information please
contact:
Western Metallica Resources
Corp. Gregory DurasChief Executive OfficerEmail:
gduras@westernmetallica.com
Investor RelationsEmail:
info@westernmetallica.com
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 information 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 and Turmalina Projects. 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.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/399e6b1e-5d04-4b4d-a4ad-0629bc7722ff
https://www.globenewswire.com/NewsRoom/AttachmentNg/90543ce9-f5b6-4570-b8f6-c0c44a2de48a
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