Pampa Metals Corp. provided an update regarding its 6,600-hectare Redondo-Veronica Project in northern Chile, where the Company has received assay results from the seven-hole drill program focused on three separate target areas as previously reported. Results from the wide-spaced reverse circulation drill program together with geological, geochemical, and geophysical information, are consistently pointing to deep mineralisation at the Cerro Redondo North and Redondo Southwest targets, while Redondo Extreme North has been downgraded to second priority. Drill testing at Cerro Redondo Norte returned the best geochemical results, at relatively shallow levels, but deeper drilling is required to properly test the indicative source porphyry. A large, deep, 3D- Vector Induced Polarization (VIP) phase anomaly, coincident with a deep magnetic low and resistivity feature, suggests deep porphyry potential remains beneath the level of current drilling at Redondo Southwest. This is supported by the geological and geochemical results from the recent drilling, which appears to have cut the upper portions of a large, porphyry-related hydrothermal system. Pampa Metals is continuing the process of integrating all the data collected from the project. Further 3D modelling of the geophysical data, with integrated drill data, is considered essential as a next step. The first pass of RC drilling has been very successful in showing that the Redondo-Veronica project has the potential to host deep porphyry copper style mineralisation, which will require diamond drill follow-up due to the limitations that the less- expensive RC drilling technique has faced with depth. Drilling of two holes at Cerro Redondo North has confirmed the presence of relatively shallow copper mineralisation, particularly in RV-01. RV-02 appears to have been drilled on the northeastern priphery of the hydrothermal system. Hole RV-01 confirms the reason for the presence of a cluster of relatively shallow historic drill holes at this location, the results of which are unknown to Pampa Metals. The results in RV-01 also ratify that deeper drilling is required to cut any potentially mineralised porphyry body that is causing the hydrothermal alteration and mineralisation observed at shallower levels. Drilling of four holes at Redondo Southwest has confirmed a large hydrothermal alteration zone with porphyry characteristics, as recognised from earlier surface geological mapping. Drill hole RV-05 shows anomalous geochemistry with increasing base metals values with depth. Quartz veinlets and copper oxides occur at surface close to the location of the RV-05 collar. Drill holes RV-03, 04 and 07 all show anomalous geochemistry but appear to be more peripheral to the centre of the system. The hydrothermal alteration and anomalous geochemistry coincide with a consistent zone with loss of magnetic properties (magnetite destruction) below the 1500m elevation level according to the 3D magnetic inversion model, which extends for about 2 Km north-south and more than 2.5 Km east-west, and extends to depth. 3D inversion modelling of the 3D VIP survey along section 7.357.100 N is illustrative of a significant IP phase (chargeability) anomaly at depth beneath drill holes RV-05 and RV-03, with RV-05 being more central. This coincides with a resistivity anomaly as well as the large, low magnetic anomaly. Together, the geophysical anomalies and the hydrothermal alteration associated in parts with anomalous geochemistry including elevated copper intersections, represent, and provide vectors towards, a potential sulphide-rich centre at depth related to a deep porphyry copper system. Results are encouraging and drilling to date only penetrates the upper edges of the IP anomaly. This consequently represents a significant target that merits follow-up with deep diamond core drilling. Drilling of one hole at Redondo Extreme North, although confirming the continuation of hydrothermal alteration observed at surface to depth, does not show the consistent phyllic alteration required to encourage deeper drilling. This target has consequently been downgraded.