Pachamama Resources Ltd.
TSX VENTURE : PMA

Pachamama Resources Ltd.

July 25, 2011 13:00 ET

Pachamama Resources Ltd.: 15,000 Metre Drill Program Commences at Rio Grande Cu-Au-Ag Project, Salta Province, Argentina

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 25, 2011) - Pachamama Resources Ltd. (TSX VENTURE:PMA) -

Pachamama Resources Ltd. ("Pachamama" or the "Company") is pleased to announce that drilling is now underway on the Company's 50% owned Rio Grande copper-gold-silver project in Salta Province, Argentina after an unusually intense winter storm in the Puna during the mobilization caused some delays. The planned drill program comprises a total of 15,000 metres utilizing two diamond drills. The Rio Grande project is a 50/50 joint venture between Pachamama and Regulus Resources Inc. ("Regulus") (TSX VENTURE:REG) with Regulus acting as the operator.

Over the last two months, Regulus reports that it has made significant progress in preparing the Rio Grande project for its first drill program since 2008 as well as making advancements towards obtaining its first 43-101 compliant resource estimate on the project. The following programs are now completed or are underway:

  • Quantec Titan 24 geophysical IP and resistivity survey
    • Completed 11 lines – Phase I report evaluation pending – 3D modelling underway
  • RDI and SGS metallurgical test work
    • Final results expected from both labs in August 2011
  • Wardrop Engineering 43-101 compliant resource estimate
    • Planned completion date of August 2011 (based on previous drilling only)
  • 15,000 metre Boart Longyear diamond drilling program
    • Both drills are now on site with the first drill operating.

The current 15,000 metre diamond drilling program is planned to consist of:

1. Infill and extension drilling in the northern area of the Sofia Zone;
2. Extension drilling to the west of the existing drilling in the North Zone;
3. Infill and extension drilling in the # 7 Zone;
4. Initial testing of the underexplored southwest portion of the Rio Grande ring structure; and
5. Deep drilling into the deep porphyry targets in the center of the Rio Grande porphyry complex.

To more clearly define the deep porphyry targets in the centre of the 2.2 km wide Rio Grande porphyry complex, the companies contracted Quantec Geoscience to complete a 10 line, Titan 24 IP / resistivity survey covering the full extent of the Rio Grande porphyry system. The IP successfully outlined the contact between the oxide and transitional material and the underlying fresh volcanic rocks and the magnetotelluric survey outlined a number of high priority drill targets at depth in the central area of the Rio Grande porphyry system. An additional line was added to the survey covering the Northeast Gold target located 1.6 kilometres from the eastern edge of the Rio Grande porphyry structure.

About Pachamama Pachamama is a mining exploration company formed as a spin-out of Mansfield Minerals Inc. in November 2008. The mineral assets of Mansfield, with the exception of the Lindero gold deposit, were transferred to Pachamama together with certain cash and investments. The Company is currently focused on the Rio Grande project in northwestern Argentina.

On behalf of the Board of Directors,

John M. Leask, P.Eng., President & CEO

This news release has been reviewed by John M. Leask, P.Eng., President and CEO of the Company, and a Qualified Person ("QP") as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

Security – Chain of Custody and Quality Control: Regulus' security, chain of custody and quality control is described on their website and can be reviewed at: http://regulusresources.com

Cautionary and Forward-looking Statement Information - Certain disclosure in this release, including management's assessment of Pachamama's plans and projects, constitutes forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Pachamama's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Press Release.

Contact Information