Western Metallica Resources Corp announced that it has retained a Peruvian-based team to oversee day-to-day operations and exploration work at its recently acquired Turmalina and Caña Brava Projects, two highly prospective copper-molybdenum porphyry properties located in Peru.
The mineral resource exploration and development company said it plans to begin its exploration field activities at Caña Brava during the second half of October, which will include mapping supported by Short Wave Infra-Red (SWIR) spectrometry analyses.
"Although we only recently finalized the acquisition of the Turmalina and Caña Brava Projects, we are keen to commence our field work as soon as possible and update the market on our upcoming activities," Western Metallica Resources CEO Gregory Duras said in a statement.
"As Western Metallica repositions itself as a copper-focused mineral exploration firm operating within mining-friendly and highly-prospective under-explored jurisdictions, management expects its various stakeholders to benefit from the accretive value generated from advancing its Peruvian programs and as it achieves operational milestones," he added.
Western Metallica noted the activities at Caña Brava will be aimed at outlining the extent of the porphyry-related alteration, the potential lateral and vertical zonation, defining potential controlling structures and favourable host lithologies, as well as systematic rock sampling aimed at defining anomalies and vectors to the mineralized centres.
The company added that it believes there is potential at Caña Brava for a cluster of medium-sized porphyry copper-molybdenum systems of above average grade, and with about $3 million in cash to advance operations into 2024, Western Metallica is in a prime position to unlock the untapped potential of the newly-acquired copper project.
As well, the company said it intends to conduct a drone-based airborne magnetic survey over an area of about 5,000 hectares, along 100-metre spaced lines, which, coupled with the existing surface mapping data, will support field program targeting.
Western Metallica is a mineral resource exploration and development company. Its principal asset is its 100% owned Nueva Celti Copper Property in the Ossa Morena belt in Andalusia, Spain.
The company has three other Spanish gold projects in the 'Navelgas Gold Belt' in Asturias, Spain (Penedela, Valledor and Sierra Alta) and also holds options to acquire a 100% interest in two copper projects in Peru: Caña Brava, in La Libertad Province; and Turmalina in Piura Province.
Contact Sean at sean@proactiveinvestors.com