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.

• 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.
• Several drill‐ready targets identified in review of previous exploration data comprising geochemical sampling, geological mapping and IP/Resistivity surveys.
• A maiden diamond drilling program commenced in October 2023, comprising of ~ 5,000m, designed to test four targets within the Effective Area:

Cobremani Target (completed) – Drill-hole 23PCMD0001 (surface geochemical anomaly including channel sample of 41.6m @1.12% Cu and 22.85g/t Ag, and strong geophysical anomaly at ~200m depth).

Maricate Target (commenced) – Drill-hole 23PMCD0001 (surface geochemical anomaly including channel sample of 17.6m @ 1.95% Cu).

Cumbre Coya Target (completed) – Drill-hole 23PCCD0001 (surface geochemical anomaly including channel sample of 32.85m @ 0.61% Cu and 209 g/t Ag and chargeability anomaly) and Drill-hole PDH76 (geochemical and chargeability anomaly at ~250m depth).

Fundicion Target (completed) – Drill-hole 23PFND0001 (chargeability anomaly at ~250m depth), Drill-hole PDH87 (geophysical chargeability anomaly at ~250m depth), Drill-hole PDH-91 (geophysical chargeability anomaly at ~300m depth) and drill holes PDH-102 and 112 (chargeability anomaly at ~150m depth.