CuAg
CuAg
Picha Project
Located in the Moquegua and Puno Departments of southern Peru. The copper-silver project comprises of 27 mining concessions covering an area of around 200km² and is prospective for multiple styles of copper mineralisation. Firetail holds 70% of the project through a staged earn-in, and may acquire an additional 10% of the project subject to completing further exploration milestones.
- Located approximately 17km east northeast of the San Gabriel Au-Cu-Ag Project, owned by Compania de Minas Buenaventura S.A.A. (“Buenaventura”), which hosts Reserves of 14.9 MT with 4.04 g/t Au and 6.43 g/t Ag, representing 1.94MOz Au; and resources: 24.86 MT with 2.10 g/t Au and 8.46 g/t Ag1.
- Prospective for epithermal, stratabound, polymetallic carbonate replacement (“CRD”) and porphyry style copper mineralisation with several untested significant surface geochemical and geophysical anomalies.
A maiden diamond drilling program has been completed, comprising of ~ 5,000m, designed to test four targets within the Effective Area. The program highlighted shallow, high-grade copper results for potential follow up with highlights including:
- Shallow mineralisation intersected at Cobremani target with two follow-up holes returning significant intersects:
- 24PCMD0002 – 22.9m @ 0.60% Cu and 6.7g/t Ag from 1.8m
- 24PCMD0003 – 5.12m @ 5.40% Cu and 44.9g/t Ag from 2.88m
- NNW trending structural corridor at Cumbre Coya returned significant mineralisation including:
- 24PCCD0005 – 9.35m @ 0.94% Cu and 58.6g/t Ag from 6.25m
Cobremani Target
Assay results have been received for drillhole 23PCMD0001 which include 1.3m @ 18.6 g/t Ag from 64.10m adding to the previous best result of 13m @ 2.81% Cu and 27.1g/t Ag from 2m (using a cut-off of 0.1% Cu).
Maricate Target
Drill-hole 23PMCD0001 was completed at the Maricate Target which was designed to test a surface geochemistry anomaly (channel sample of 17.6m @ 1.95% Cu). No significant copper mineralisation was observed with only trace to minor amounts of chalcopyrite noted.
Cumbre Coya Target
Three drillholes have been completed 23PCCD0001, 23PCCD0002, 24PCCD0004 with a fourth drillhole commenced. In addition, drillhole 24PCCD0003 was completed southwest of Cumbre Coya, around 420m southwest of 23PCCD0002.
Drilling at 23PCCD0001 intersected significant polymetallic mineralisation, results included 15.5m @ 0.72% Cu, 130g/t Ag 1.92% Pb and 0.16% Zn from 3.25m. The Company confirmed the mineralised structure extends over 170m in strike length and is open in all directions.
Significant assay results from 23PCCD0002 comprised of the following (using a 0.1% Cu cut-off):
- 3.15m @ 0.16% Cu and 1.6g/t Ag from 65.25m
- 2.85m @ 0.51% Cu and 4.4g/t Ag from 72.7m
- 0.75m @ 1.16% Cu and 7.3g/t Ag from 82.05
- 1.15m @ 2.30% Cu and 11.3g/t Ag from 91.35m
Fundicion Target
Two drillholes have been completed at the Fundicion Target, drillhole 23PFND0001 and 24PFND0002. Drillhole 23PFND001 intersected distal indicators of a potential porphyry system from around 250m, including sheeted quartz veins, intervals of phyllic alteration and significant pyrite mineralisation.
Drill-hole 24PFND0002 was designed to test part of the Induced Polarisation (IP) chargeability anomaly and is located around 500m north of the first drillhole 23PFND0001.
CuAg
Charaque Project
Located 30km north-east of the Picha Copper Project and comprising of eight claims covering an area of around 6,000 hectares (60km²). The Charaque Project is subject to an Earn-in Agreement with Minera Barrick Perú S.A., a subsidiary of leading global gold and copper producer Barrick Gold Corporation (collectively, ‘Barrick’).
The area around Charaque is an active exploration area with major mining companies including Barrick, Teck Resources Ltd and Fresnillo Plc having significant landholdings around the project area.