Posted in | Zinc | Mining Business

GPM Metals Announces Startup of First Pass Drill Program at Greenfield Pasco Zinc Project

GPM Metals is pleased to announce the startup of the initial, first pass drill program at the Pasco Project located in the Central Peruvian Zinc Belt, approximately 30 Km NE of Cerro de Pasco Mine and 35 Km N of the Votorantim / Pan American owned Shalipayco discovery.

Drill targets have been identified and drilling is to include a minimum of 2,000 meters of core diamond drilling.

A drilling contract has been executed with Energold Drilling S.A.C. and the drill rig equipment and crews will be mobilized to site; drilling operations are scheduled to commence during the first week of July. A further press release will be issued concurrent with the confirmation of day 1 drilling operations startup.

This drill program follows the recently completed ground magnetics survey of approximately 140 line kilometers carried out by GC Ground S.A.C, Peru. The survey aided in the development of our 3D model and targeting for the upcoming drill program.

The ground magnetics survey vectored into two delineated zones of a 4.25 Km by 1 Km trend of anomalous Silver (20ppm - 152ppm), Lead (100ppm - 3.97%) and Zinc (1000ppm - 2.7%). The southern anomaly measures 1.2 Km by 500m and open to the south and the northern anomaly is 500m by 500m.

Proposed diamond drill hole locations and results of ground magnetics survey are found on the company's web site.

Drilling will target these two large, highly anomalous zones within a 4.25km by 500m trend. A north-east trending glaciated valley separates the two zones.

These initial exploration targets have been identified by the Company's extensive 2015 and 2016 field programs of trenching, mapping and approximately 2500 soil and rock chip samples and confirmed by recently completed ground magnetics survey. Location and sampling results are available at the Company web site link / Projects Peru (see April 14, 2016 Company press release available on SEDAR The grab samples disclosed are selective samples and are not representative of the mineralization hosted on the Pasco Project.

The 2015 - 2016 mapping and sampling programs were designed to provide a methodical and economic approach to prioritize drill targets with a high degree of confidence.

Patrick Sheridan, CEO of GPM stated, "The methodical approach undertaken by our Lima based staff to the exploration mapping and sampling since 2014, the community relations aspects with the commune of Huachon, and the regulatory permitting provides confidence that this initial drill program will unlock the potential of this district scale, greenfields target."

The 100% owned Pasco Claims comprise a 6,300 hectares contiguous land package of a district scale, greenfields, base metal discovery. These concessions have not been subjected to modern mineral exploration or drilling prior to the staking and acquisition of the properties by our Company's Peruvian agent in 2014.

The Pucara hosted style of Pb-Zn-Ag mineralization at surface displays similar geological characteristics to the recently discovered zinc resource at Tinka Resources, Awawilca deposit, located approximately 60 Km to the NW in the Department of Pasco.

Environmental permits are in place for 20 drill pad locations. Ten diamond drill holes are planned in the initial program.

An exploration / access agreement has been signed with the commune of Huachon, and logistical support, field assistants and supply chain operate from the commune. Huachon is located approximately 1 hour by secondary road (Hwy 104) from National Hwy 3N.


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