Copper search heats up at Thunderbird Peruvian joint venture

Thunderbird Resources’ joint venture partner Firetail Resources is ramping up exploration efforts at their 30:70-owned Picha copper project in Peru. Firetail is upping its game with geophysics, soil sampling and structural mapping underway to unlock the region’s substantial copper porphyry potential. 

The ASX-listed explorer has revealed a multi-pronged approach to target the project’s high-priority Ichucollo zone, as the JV prepares for all-important drill testing in the world-class copper province in the second half of the year. 

UAV magnetic surveys are in progress to stitch together existing drill targets with the newly staked Anta Q’illqa zone in Picha’s northern boundaries. The aerial sweep aims to map the structures and alterations that could vector the company towards an extensive porphyry system lurking beneath the surface. 

Boots on the ground programs are nearing completion, while detailed geological mapping at Anta Q’illqa has already outlined a 2 kilometre by 1km alteration footprint peppered with copper sulphide shows.

The JV’s Ichucollo target is its most advanced. Firetail is gearing up for a maiden drilling program at the site following drill permitting in the third quarter of the year. Channel samples from the zone continue to show promise, returning up to 24 metres at 1.08 per cent copper at one location and 13.1m at 1.38 per cent copper and 10.21 grams per tonne (g/t) silver at another. 

Geophysics suggest a deeper intrusive driver which management says could represent a caldera-like structure and active geothermal features to signal a live copper system. 

Firetail Resources managing director Glenn Poole said: “The geology we are seeing on the ground is highly encouraging and we believe provides strong indicators of an extensive porphyry system. The geochemistry and geophysics work will provide information to guide the next steps as we continue to focus in on high-priority target areas.”

Thunderbird’s 30 per cent interest in Picha positions it as a key beneficiary of the current exploration push without having to carry the operational heavy lifting. The project lies along extensions to the world-class northwest Tucari and Santa Rosa epithermal systems covering some 215 square kilometres of ground adjacent to Buenaventura’s 7.6-million-ounce gold-equivalent San Gabriel mine. 

With porphyry copper, epithermal veins and skarn-style mineralisation all in play, Picha’s prospectivity offers Thunderbird a low-risk, high-reward seat at the table as Firetail drives the program forward.

Picha has also been buoyed by its recent inclusion in the BHP Xplor 2025 cohort, which brings up to US$500,000 in non-dilutive funding and expert guidance. 

Beyond Picha, Thunderbird’s primary focus lies closer to home in New South Wales. Its latest Kookabookra and Rockvale gold-antimony projects are building momentum, with 250 square kilometres of tenure to undergo its own fieldwork programs, slated to kick off this month.

The recently acquired ground lies immediately adjacent to Australia’s largest antimony resource at Larvotto Resources’ Hillgrove mine. The globally significant antimony project is set to produce about seven per cent of the world’s supply when it is redeveloped and fully operational.

With Ichucollo drilling looming, Thunderbird Resources is well-placed to share in what could be a substantial Peruvian copper discovery while increasing its efforts to unlock an enviable portfolio of surging precious and critical metals. 

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au