Mammoth Minerals outlines major intrusive target at Picha copper play

• Mammoth Minerals outlines major copper target at Picha thanks to the BHP Xplor program
• The MT survey supports mapped and sampled alteration and mineralised zones

Special Report: Mammoth Minerals is encouraged by a Magnetotellurics (MT) survey completed as part of BHP’s Xplor accelerator program that outlines a major intrusive target at its Picha copper project in Peru.

The MT survey was designed to refine the deeper intrusive architecture and scale of the intrusive controlling the Picha mineralisation and alteration observed in surface mapping and sampling.

It outlines an extensive intrusive target, interpreted as a high resistivity zone with a strong correlation between the demagnetised zones highlighted in the recently completed, property-wide UAV magnetics survey.

This is further supported by the mapped and sampled alteration and mineralised zones centred on the Anta Q’ilqa and Ichucollo targets.

Mammoth Minerals (ASX:M79) said the survey highlighted a single intrusive system as a potential source for the abundant copper mineralisation observed at the Ichucollo target, including recent surface channel sampling of:

• 13.1m at 1.38% copper and 10.21g/t silver;
• 24m at 1.08% Cu and 3.99g/t Ag;
• 30m at 0.79% Cu and 7.56g/t Ag; and
• 16m at 0.60% Cu and 9.1g/t Ag.

Watch: Mammoth’s Glenn Poole joins Stockhead TV

Refining copper drill targets

Mammoth managing director Glenn Poole said the survey results were encouraging and aligned well with the working geological model the company had for the Picha area.

“The ability to leverage off the support and funding provided by the BHP Xplor program to ‘see’ to a depth of over 5km into the underlying geological architecture has been transformational for the project and will provide critical information to help us develop a refined targeting program moving forward,” Poole said.

“This survey, supported by the property-wide UAV magnetics, has helped us improve our understanding of the mineral systems at work across the Picha Project area.

“We have shown through the previous mapping, sampling and drilling that there is extensive copper in the system.

“Now, the results of this MT survey represent a major step forward in terms of understanding what is driving those mineral enriched fluid systems and driving the copper we are seeing at surface.”

This article was developed in collaboration with Mammoth Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.