Western Metallica Resources Corp. (TSX-V:WMS) CEO Greg Duras says the company’s exploration program at its recently acquired Caña Brava and Turmalina copper-molybdenum projects in Peru is fully funded up until the end of 2024.
Duras told Proactive that Western Metallica chose to focus first on the Caña Brava project as, after conducting reconnaissance at both projects, it determined this one would allow it to get started faster.
He said the company two weeks ago commenced rock chip and diamond-saw channel sampling at Caña Brava. It plans to collect more than 500 samples.
The company will also carry out geophysics and drone magnetometry with the aim of generating drill targets, with drilling slated to kick off in the third quarter of 2024.
“We should be able to get a couple of thousand metres of drilling and then the idea is to go back to the market in approximately 14 months' time with some clear drill targets and an extensive drill program,” Duras said.
The CEO noted the significance of the company’s Peru projects given there is little prospective ground left available in the copper-producing nation.
“The fact a company of our size with a market capitalization of approximately $3 million is able to have these world-class assets in our portfolio is, quite honestly, pretty incredible,” he told Proactive.
Contact the author at emily.jarvie@proactiveinvestors.com
Follow her on X, formerly known as Twitter, @emilyjjarvie