Western Metallica Resources Corp. (TSX-V:WMS)’s bet on Peru’s copper resources has paid off in the form of a new discovery.
The company entered Peru in August 2023 with the acquisition of Consolidated Copper Corp, owners of the Caña Brava and Turmalina copper-molybdenum porphyry assets in the northern part of the country.
Now, a fieldwork program at Caña Brava has revealed consistent copper grades up to 700 parts per million (ppm) copper and 600 ppm molybdenum.
Geochemical and drone-borne magnetometry surveys at the Luz Maria prospect confirmed the 2.7-kilometre by 1.5-kilometre alteration, which the company described as a characteristic feature of Andean copper-molybdenum porphyry mineralization systems.
CEO Gregory Duras emphasized the significance of the discovery, especially considering it was not part of the initial data when the project was acquired.
Duras told Proactive that, while the focus was initially on the Caña Brava One prospect, the Luz Maria discovery presents a new and promising prospect.
“Essentially, through this geological work, we've demonstrated that we do have this classic Andean copper style Porphyry system,” Duras said.
The company plans to capitalize on the initial discovery by conducting a larger chip sampling program and enhancing the geophysics program. These efforts aim to identify promising drill targets, with the company already in the process of applying for permits for 26 drill platforms. The exploration program for 2024 will prioritize the validation of a substantial porphyry system at Caña Brava. Concurrently, environmental baseline studies essential for the drill permitting process have been successfully finalized at Luz Maria.
Western Metallica’s projects are strategically situated near industrial ports and major paved roads. Each project encompasses extensive mineral concessions, facilitating future project scalability.
The Caña Brava project, a promising 5,700-hectare copper-molybdenum property, is positioned in the La Libertad Department of northern coastal Peru. It is only 35 kilometers inland from the Peruvian coast, situated at an elevation of 1,500 meters in the western Cordillera of the Peruvian Andes.