Mammoth’s MT Survey Uncovers >5km Intrusive Copper Zone at Picha Project
Mammoth Minerals reveals a major deep-seated intrusive target at its Picha Copper Project in Peru, supported by advanced geophysical surveys under the BHP Xplor program. This finding aligns with surface copper mineralisation and sets the stage for refined exploration.
- Magnetotellurics survey identifies >5km deep intrusive source at Picha
- High resistivity zones correlate with copper-silver mineralisation at Anta Q’ilqa and Ichucollo
- Surface channel samples show significant copper and silver grades
- Survey funded by BHP Xplor Accelerator Program enhances geological model
- Potential corporate transaction underway for Charaque Gold-Silver Project
Geophysical Breakthrough at Picha
Mammoth Minerals Limited (ASX, M79) has announced compelling results from a recent Magnetotellurics (MT) survey at its Picha Copper Project in southern Peru. Conducted under the auspices of the BHP Xplor Accelerator Program, the survey has delineated a vertically extensive intrusive body extending beyond 5 kilometres depth beneath the Anta Q’ilqa and Ichucollo targets. This geophysical signature supports the company’s working hypothesis of a single, large-scale intrusive system driving the copper mineralisation observed at surface.
Linking Surface Mineralisation to Deep Architecture
The MT survey’s high resistivity zones correspond closely with demagnetised areas identified in a recent UAV magnetic survey, reinforcing the interpretation of an intrusive source controlling mineralisation. Surface channel sampling at the Ichucollo target has returned encouraging grades, including intercepts such as 13.1 metres at 1.38% copper with 10.21 grams per tonne silver, and 24 metres at 1.08% copper with 3.99 grams per tonne silver. These results underscore the potential scale and grade of the mineral system.
Strategic Implications and Next Steps
Managing Director Glenn Poole highlighted the transformational nature of the MT data, which allows the company to 'see' deep into the geological framework and refine exploration targeting. The integration of MT results with surface mapping and sampling is expected to guide future drilling campaigns aimed at testing the intrusive system’s mineral potential. Meanwhile, Mammoth is actively reviewing its Charaque Gold-Silver Project, located nearby, and pursuing potential corporate transactions to crystallise value from non-core assets.
Broader Portfolio and Exploration Outlook
Beyond Peru, Mammoth Minerals is advancing exploration across a portfolio that includes the Excelsior and Bella Gold Projects in the United States and the Skyline VMS Copper-Zinc-Silver Project in Canada. The Picha Project’s inclusion in the BHP Xplor program provides both technical support and validation of its exploration potential. Further geophysical surveys, detailed mapping, and sampling programs are planned to build on this momentum.
Technical Confidence and Caution
While the MT survey offers a significant leap in understanding the subsurface architecture, the company acknowledges the inherent non-uniqueness of inversion models and the need for drilling to confirm the extent and grade of mineralisation. The results nonetheless represent a critical step forward in de-risking the project and enhancing its attractiveness to investors and partners.
Bottom Line?
Mammoth’s deep geophysical insights at Picha mark a pivotal moment, but the true test lies ahead in drilling and resource definition.
Questions in the middle?
- How will upcoming drilling programs validate the MT survey’s intrusive target?
- What timeline and terms might emerge from the potential Charaque asset transaction?
- How will BHP Xplor funding influence Mammoth’s exploration pace and capital allocation?
