PERU COPPER PORPHYRY PORTFOLIO
March 2014
Forward Looking Statements
• Certain statements included in this presentation constitute forward-looking statements, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to Pembrook Mining Corp. (the “Company”) or its management.
• The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This presentation contains forward-looking statements, and are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.
• Any forward-looking statements represent the Company’s estimates only as of the date of this presentation and should not be relied upon as representing the Company’s estimates as of any subsequent date. The material factors and assumptions that were applied in making the forward-looking statements in this presentation include:
• (a) execution of the Company’s existing plans or exploration programs for each of its properties, either of which may change due to changes in the views of the Company, or if new information arises which makes it prudent to change such plans or programs;
• and
• (b) the accuracy of current interpretation of drill and other exploration results, since new information or new interpretation of existing information may result in changes in the Company’s expectations. Readers should not place undue reliance on the Company’s forward-looking statements, as the Company’s actual results, performance or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company’s business, or if the Company’s estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that such forward-looking statements will materialize. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
• The Qualified Person (QP) for Mexico is Henry Marsden, and Bruce Harvey is the QP for projects in South America.
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Company Highlights
• Management and Board experienced in exploration • Proven track record of exploration success:
– Aurora Platinum Group – sold to FNX Mining – Lake Shore Gold Corp. – 2014: 130,000 – 160,000 oz producer
• Pembrook raised over $108 million private capital to date • $20 million Cash Balance at December 31, 2013 • Last financing in June 2013
– $8 million placement at $2.50 per share • Four Porphyry CU projects in Peru
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48%
9.7% 9.3%
7%
26% Founders, Directors and Management
Chinalco Resources
Romero Group
Teck, Hochschild, Sprott, RBC, BMO
Others
Management & Directors
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MANAGEMENT
Brian Booth President & Chief Executive Officer April Hashimoto Chief Financial Officer Bruce Harvey Executive VP & President, South America Henry Marsden VP Exploration, Mexico Angela Betteridge Corporate Secretary, Director of Corporate Communications Buks Lubbe Chief Geophysicist, South America
BOARD OF DIRECTORS
Alan Moon Chair of the Board John Black Brian Booth Daniel Innes Stephen Kurtz
Anthony Makuch
Kevin McArthur
Richard Petersen Wang Dongbo
Share Structure
Common shares 136,784,987 Stock options 10,071,250 Fully diluted* 146,856,237
Cash position* Cdn $20 million
Last private placement June 2013 3,222,098 shares for cash proceeds of $8 million *At December 31, 2013
$2.50 / share
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2013 Overview
• Completed Cdn$8 million private placement – $2.50 per share
• Cdn$20 million cash position - Dec 2013 • Exploration focus - 4 copper porphyries in Peru
– Pecoy (Cu,Mo) – Tororume (Cu,Mo) – Acero (Cu,Mo) – Huiniccasa (porphyry/skarn Cu,Mo,Zn,Ag,Fe)
• Finalizing joint ventures – Lidia Cu – Au (IOCG) and Hurricane (Ni,Cu,PGE)
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Porphyry Projects - Southern Peru
• Pecoy • Tororume • Acero • Huiniccasa
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Pecoy – Copper Porphyry
Tororume – strong surface Cu geochemistry
Acero – Cusco Department
Acquisitions & Progress
Pecoy • 80% (Earning) • Recognition of leached cap • Cu Oxides, supergene enriched
and good grade primary sulphides Tororume • 100% Pembrook • Discovery of 2 new porphyries Acero • 100% (Earning) • Previous drilling (2000)
135m @ 0.24% cu Huiniccasa • 100% (Pembrook) • Phase 2 drilling to resume to
expand on large skarn system and test porphyry targets (Oct 2013)
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Chalcocite copper oxides
Pecoy Porphyry looking west 1,800m elevation
Pecoy – Copper Porphyry System
• Large system – Potential for >0.5BT • Encouraging preliminary drill results
– 389 metres @ 0.37% copper • Good access, close to coast, water, power
and supportive community • Pembrook successful bid (5 majors bid)
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1. 0 x 1.5 km
Pecoy Project – Regional Setting – Coastal Porphyry Belt
• The southern Peru Coastal Porphyry Copper Belt hosts several large porphyry copper deposits:
• Zafranal 510Mt @ 0.36% Cu
• Quellaveco 213Mt at 0.94% cu and 761Mt at 0.57% cu
• Cerro Verde 1Bt at 0.51% cu
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Pecoy – Regional Geology
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Pecoy Porphyry System
Tororume (Cu-Mo)
Arirahua Gold Mine Pecoy (Cu-Mo)
H-01
H-02
H-09
H-10 H-11
H-05
H-07 H-04 H-03
H-08
Pecoy – Interpreted Geology
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500 m Claim boundary
DDH-05 67.20m Gneiss Granodiorite
Monzogranite Porphyry
Metasediments
Breccia
Pecoy - Geology
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H-10, 11
Jarosite Leached Cap Leaching after Pyrite
Strong Hematite-Goethite Near H-02
Leaching after Chalcopyrite
Hematite-Goethite Leached Cap
Pecoy – Oxide Mapping
• All holes except two drilled in Jarosite Leached Cap • Two holes drilled in Hematite-Goethite Leached Cap • H-02 105 m @ 0.537% copper • H-09 72 m @ 0.45% copper
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Pecoy – Oxide Mapping
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Cover Roof Pendant Hematite
Goethite
Jarosite
H-05
H-03
H-08
H-01
H-02
H-09 H-10 H-11
H-07
H-04
Hem-Goe Leach Cap
Outcrop prospective area 0.6 x 0.3 km
Jarositic Leach Cap
500 m Claim boundary Copper oxide occurrences
Goethite
Pecoy – Hole 2
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Pecoy – Hole 2 - Porphyry
• Primary Sulphide Zone – At 325m downhole
0.58% Cu
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• Chalcocite Zone – (1.0% Cu)
• Copper Oxide Zone – At 104.8m downhole
(0.88% Cu)
Drill hole traces colored with percentage copper values with
red > 0.5% Cu
Looking north -west
Enrichment Zone
Lixiviation
Oxides CuOx ± CC Traces
H-02 H-09
Interpretation from Core Logging
The chargeability model suggests the potential for more secondary enrichment to the north Hypogene
Pecoy – Ground IP Survey
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H-09 H-02
Chalcocite zone Strong chargeability
300 m
Copper Oxide zone
2D chargeability section through Pecoy drill holes H-02 and H-09
Pecoy – Second Target – Hydrothermal Breccia
• Biotite – Magnetite + Chalcopyrite Breccia – Best Intervals:
• 36 m @ 0.34% • 12 m @ 1.12%
• Quartz – Anhydrite + Chalcopyrite + Pyrite Breccia – Best Interval:
• 18 m @ 0.35%
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H-05 138.4m 2.15% Cu; 0.34 g/t Au
H-08 249.7 m 0.39% Cu
Pecoy – North Area Roof Pendant
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Roof Pendant
H-05
H-03
H-08
H-01
H-02
H-09 H-10
H-11
H-07
H-04
500 m Claim boundary Copper oxide occurrences
Altered and Mineralized Porphyry below with pyrite + chalcopyrite
Capping Ridge
Weakly Altered Metamorphic Rock Capping Altered/Mineralized Porphyry
Pecoy – North Area – Covered by thin Basement Rocks
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Metamorphic Roof Pendant
Mineralized Porphyry
Chlorite altered Metamorphics
Pecoy – Copper Porphyry System
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Secondary Target Breccia Zone
Cu (+Au)
Primary Target Central Potassic Core
Supergene Blanket
H-05
H-03
H-08
H-01
H-02
H-09 H-10
H-11 H-04
Primary Target Cu (+ Mo, Au)
500 m
Claim boundary Copper oxide occurrences Planned Holes Phase I Permit
Planned Holes Phase II Permit
2,200
2,000
1,800
1,600
1,400
Breccia Pipe Potassic Alteration
Mineralized 2nd Mineral Event
Porphyry Core Potassic Alteration Main Mineral Event
Ore/Target
Phyllic Alteration Quartz-Sericite-Pyrite
marginal shell to system 0.1-0.2% Cu
Propylitic Alteration Chlorite, Epidote
Outboard Barren
Supergene Blanket Oxide
Supergene Sulfides
Supergene Blanket
South North
Pecoy – Alteration Model – Mineralization
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Cu (+ Au)
Cu (+ Mo, Au)
View to Northwest
Tororume Project – Two New Copper Porphyry Discoveries
• Two new Porphyry Cu discoveries by Pembrook • Strong Copper-Molybdenum surface channel rock sample assays • Mineralization defined over a large area (6km X 3km) • In Pecoy District – 6 kms north of Pecoy Project
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TORORUME (Cu-Mo)
PECOY Cu-Mo
Tororume Porphyries – Location
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/
8 kms
Arirahua Mine (Au)
GEOLOGY Granodiorite Diorite Quartz Diorite Gneiss Complex Volcanic Rocks
Fault
Target Area
Porphyries
Tororume Main Porphyry
La Yesera
Pecoy Porphyry
Tororume – Pecoy District
• Tororume 9,330 hectares • Pecoy 2,000 hectares • La Yesera 5,000 hectares • New porphyry Cu-Mo
district in the Coastal Porphyry Belt.
• Multiple copper systems • Near coast (<100km) • Road, water and power in
close proximity
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10 km
Tororume East Porphyry
Pembrook Property
Tororume – Alteration
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2 km
[
Main Target
East Target
ALTERATION Argillic Alteration
Propylitic
Chloritization
Chlorite – Quartz - Sericite
Pyritization
Silicification
Phyllic Alteration
Potassic
West
North
Post-Mineral Pyroclastic
Flows
Pyrite Halo
Potassic Alteration
OPEN
Potassic Zone
Phyllic Zone
Propilitic Zone
Pyrite Halo
ALTERATION
Tororume – Main Potassic Zone
• Looking across Quartz Diorite with “potassic” alteration
• Secondary Copper Oxides, Molybdenite and abundant Chalcopyrite – disseminated and veinlets
• Zone open to east and southeast
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Looking Southeast
500 m
Camp
Pyrite Halo
Pyrite Halo
Pyrite Halo
Open
?
Tororume – Main Potassic Zone Geochemistry Cu (%)
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Secondary Biotite, Kspar 500 m by 300 m Open east and south 49 channel samples assayed up to 3.73% Cu
Potassic Zone
Phyllic Zone
Propilitic Zone
Pyrite Halo
ALTERATION ?
Looking East
CU (%) > 1.00
0.50 – 1.00
0.20 -0.50
0.10 - 0.20
0.03 – 0.10
<0.03
Cu % Mo %
3.729 0.009
2.437 0.110
0.755 0.006
0.583 0.004
0.550 0.005
0.535 0.003
0.531 0.026
0.529 0.004
0.505 0.004
0.477 0.011
0.474 0.004
0.457 0.003
0.405 0.032
0.403 0.004
0.370 0.004
0.366 0.004
0.362 0.046
0.343 0.002
0.340 0.009
Cu % Mo %
0.340 0.006
0.311 0.003
0.307 0.243
0.306 0.011
0.295 0.009
0.289 0.003
0.286 0.005
0.279 0.004
0.278 0.010
0.272 0.009
0.269 0.002
0.261 0.003
0.237 0.001
0.232 0.003
0.230 0.005
0.180 0.003
0.154 0.013
0.153 0.002
0.152 0.003
Potassic Zone 0.531% Cu; 0.026% Mo
Potassic Zone
Tororume – Main Potassic Zone – Geochemistry Cu, Mo
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Rock Chip Channel Samples
Tororume – Breccia with Secondary Copper
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15.6% Cu Phyllic Zone 0.2% Cu
Tororume – Main Phyllic Zone
• Phyllic Zone • Strongly Leached • Similar to Pecoy • Clay after Sericite • Strong Cu Oxide Mineralization
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Chalcocite Blanket
Tororume – Main Phyllic Zone Alteration Cu Discovered Jan 2013
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Phyllic Zone
Potassic Zone
CU (%) > 1.00
0.50 – 1.00
0.20 -0.50
0.10 - 0.20
0.03 – 0.10
<0.03
ALTERATION Argillic Alteration
Propylitic
Chloritization
Chlorite – Quartz - Sericite
Pyritization
Silicification
Phyllic Alteration
Potassic
6 km
New East Zone 4 km east of Potassic Zone Strong alteration Elevated Cu Geochemistry
CU (%) > 1.00
0.50 – 1.00
0.20 -0.50
0.10 - 0.20
0.03 – 0.10
<0.03
Tororume – Second Large System to East
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2 km
GEOLOGY Manganese
Chlorite - Pyrite ± Epidote ± Calcite
Pyrite Quartz-Sericite-Pyrite
Potassic (secondary biotite ± ksp)
East Zone
Main Target
Tororume – East Zone Geochemistry Cu Discovered Aug 2013
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500 m
CU (%) > 1.00
0.50 – 1.00
0.20 -0.50
0.10 - 0.20
0.03 – 0.10
<0.03
East Zone
ALTERATION Argillic Alteration
Propylitic
Chloritization
Chlorite – Quartz - Sericite
Pyritization
Silicification
Phyllic Alteration
Potassic
GEOLOGY Young Volcanics
0.5 km x 1.0 km
Looking Southeast
Potassic Biotite; Mt + Qtz Veinlets Chalcopyrite, pyrite
Pyritization
Granodiorite Clay-Ser-Quartz
Chlorite-Epidote/Propylitic Chalcopyrite, Mo, Cu Oxide
Quartz-Chlorite-Sericite Moderate stockwork Chalcopyrite, pyrite, molybdenite
Post Mineral Volcanic Cap
Tororume – East Zone
• Large system – 3 km x 1.5 km • Potential for multiple porphyries
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Regional 2013 airborne outline
Tororume
5 km
Tororume Geophysics
• Geophysical survey specifications
• Geology • Airborne geophysics • Ground geophysics • Observations
Pecoy
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1000 m
Geophysical Survey Locations
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Porphyry Targets
1000 m
Chargeability depth slice at 130 m below surface
Ground IP Survey - Chargeability
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-3,000
-2,500
-2,000
-1,500
Pyrite Halo Margin to System
Porphyry Ore Body
Phyllic Zone Strong Leaching
Moderate Cu + Mo
Potassic Zone Strong Cu + Mo
Fresh
Fresh
Fresh
ALTERATION Propylitic Quartz-Sericite-Pyrite
Potassic
Tororume – East Zone – Covered Porphyry Model
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“Clay” Leached Zone with secondary copper
1.73% Cu, 0.02% Mo
Tororume Summary
• Widespread alteration • Similar setting to Cerro Verde • 2 new porphyry systems • Extensive copper
mineralization from surface rock geochemistry
• Strongly anomalous molybdenum geochemistry
• Potential for additional porphyry discoveries
• New discovery - never drilled • Pembrook drilling planned for
2014
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Cu oxide in leached zone
Las Bambas – Xstrata 1.1Bt @ 0.77% Cu
La Haquira – 1st Quantum 700Mt @ 0.57% Cu
Dolores – Zincore
Antapaccay – Xstrata 812Mt @ 051% Cu
Tintaya – Xstrata 295Mt @ 1.2% Cu
Quechua 680t @ 0.38% Cu
ACERO
CORPORAQUE
Constancia – Hud Bay 480Mt @ 0.33% Cu
Multiple Major Deposits
20km
Acero – Porphyry Project
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Acero – Overview
Southern Peru (2000) • Altered feldspar porphyry • Potassic alteration • Copper oxides and chalcocite • Two zones:
(200 m by 700 m and 800 by 1,200 m)
• Drilled 16 diamond holes 3,800 metres
Golden Alliance (2009) • Limited Surface Sampling • 1.15% Cu over 30 m • 0.74% Cu over 50 m • 0.56% Cu over 50 m • No additional work Pembrook • Acquired in late 2012 • Community effort in progress
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0.64 0.70
0.48 0.56
0.74 0.42
0.46 7.29 1.15
0.48
0.55 0.47
0.55
1 km
Cu (%) ≥ 1.00 0.35 to 1.00
0.05 to 0.10 < 0.05
0.10 to 0.20 0.20 to 0.35
Acero – Porphyry – Copper Rock Geochemistry
• Good Surface Geochemistry – Cu, Au, Mo
• Large Area • Multiple Porphyry Events
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ROCK UNIT
Alluvium, Colluvium
Diorite Porphyry
Microdiorite
Diorite Porphyry
Quartz Diorite Porphyry
Monzonite to Diorite Porphyry
Granodiorite Diorite
TUN-16 12m @ 0.12% 12m @ 0.16%
TUN-10 TUN-15
TUN-1 21m @ 0.15% No data below 210m
TUN-2 45m @ 0.23% with 9m @ 0.51% No data below 45m
TUN-4 TUN-14
TUN-13 36m @ 0.17%
TUN-5
TUN-3 99m @ 0.22% with 27m @ 0.33% No data below 111m
TUN-6
TUN-8 TUN-12 294m @ 0.20% With 135m @ 0.24%
TUN-11 18m @ 0.12%
TUN-7
TUN-9
1 km
Acero – Porphyry Copper – Previous Drilling
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ROCK UNIT
Alluvium, Colluvium
Diorite Porphyry
Microdiorite
Diorite Porphyry
Quartz Diorite Porphyry
Monzonite to Diorite Porphyry
Granodiorite Diorite
Drill hole No assays or partial assays
Drill hole With assays
Acero – Porphyry Copper – 2013 Plan
• Close proximity to several copper mines
• Large porphyry system • High-grade surface Cu assays • Good potential for economic
deposit • Ability for rapid advance to resource • TUN-5 Drill Log, no assays available • Porphyry
– Strong Potassic Alteration – Bornite – Chalcopyrite – Molybdenite
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Huiniccasa Highlights
• Large Cu-Zn-Ag-Fe-Mo Skarns associated with 3 clustered porphyry targets
• Geological Review – Good potential for high-grade
copper skarn mineralization – Numerous Cu-Zn Skarns
outbound from porphyry targets
– Southern Skarn and three porphyry targets adjacent to main Skarn identified for drilling in 4th quarter 2013
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Huiniccasa – Regional Setting
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Huiniccasa – Good Infrastructure Gas Pipeline, Road Network
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Huiniccasa – Skarn
• Large Skarn system • Abundant polymetallic mineralization • Strong surface geochemistry • Potential high-grade Skarn porphyry
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Manto II Ag 49.8g/t Cu 4.57%
HUI-7: 44.7m 1.04% Cu, 29.7g/t Ag
15.0% Zn
Huiniccasa – Mineralized Skarn
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Huiniccasa – Magnetics
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Huiniccasa Skarn 1.1 km x 150 to 450 m
Huiniccasa South Skarn 450 x 125 m
HUI-11 (437.2) HUI-10 (379)
HUI-11 (437.2) HUI-10 (379)
16m @ 1.1% Zn
10m @ 1.6% Zn
12m @ 0.04% Mo
52m @ 0.12% Mo
23m @ 0.3% Cu
23m @ 0.4 % Cu
23m @ 5.8 g/t Ag
13m @ 0.6% Cu
13m @ 13.2 g/t Ag
23m @ 1.6% Zn
11m @ 0.08% Mo
20m @ 0.3% Cu
13m @ 0.5% Cu
Molybdenum (%) > 0.1
0.05 to 0.1
< 0.0015
0.005 to 0.01
0.01 to 0.05
0.0015 to 0.005
Zinc (%) > 5.0
1.0 to 5.0
0.015 to 0.1 < 0.015
0.1 to 0.5
0.5 to 1.0
Silver (g/t) > 50 30 to 50
1 to 5 < 1
5 to 10 10 to 30
Copper (%) > 1.00
0.5 to 1.0 0.1 to 0.5 0.05 to 0.1 0.015 to 0.05 < 0.015
Huiniccasa – Hole-10 & Hole-11
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Section L5
Huiniccasa – Section Map
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Bedding Fracture Joint Joint Filling Vein Dip Fault Direction Fault Fault Sections Archaeological Site 2013 Drill Platforms
Metamorphosed Andesite Epidotization Chloritization Green Garnet Skarn Brown Garnet Skarn Green and Brown Garnet Skarn Garnet Skarn with Magnetite Semi Massive Magnetite Skarn Massive Magnetite Skarn Massive Pyrrhotite – Magnetite Skarn Calc-silicate Marble Silicified Silty Limestone Marble Hornfels
West East Metres
Andesitic pyroclastic and flows
Porphyry Cu-Mo
Green Garnet with Magnetite Exoskarn
Granitic Stock
Marble
Hornfels
Porphyry Target
High Grade Skarn
Huiniccasa – Hypothetical Section L5
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Drill Plan 2013
Huiniccasa – Section L5
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Bedding Fracture Joint Joint Filling Vein Dip Fault Direction Fault Fault Sections Archaeological Site 2013 Drill Holes
Metamorphosed Andesite Epidotization Chloritization Green Garnet Skarn Brown Garnet Skarn Green and Brown Garnet Skarn Garnet Skarn with Magnetite Semi Massive Magnetite Skarn Massive Magnetite Skarn Massive Pyrrhotite – Magnetite Skarn Calc-silicate Marble Silicified Silty Limestone Marble Hornfels
Huiniccasa – Geological Cross Section
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Mitu Volcanics
HUI-16
HUI-14
HUI-12
HUI-11
437 m
359 m 621 m
608 m 500 m
3,400
masl
Granite
HUI-17
Projected 2,200
3,000
2,400
2,600
2,800
3,200
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Orion LOCATION THICKNESS(m) NOTE METAL
2-4 Ag-Cu Mv-UH contact
Zn-Cu-Ag-Fe(Mo) 10-50 top Main
bottom Main Cu-Mo(Ag-Zn)Fe 20-40
Mo 20-40
middle Main 20-40 Fe
Supergene enrichment Ag to 849g/t Cu to 2.5%
Mo +100 within Granite
above, in UHmb 6-14 Zn-Ag-Cu(Mo)
within, beneath LHsls
MANTO 1
MANTO 3
MANTO 2
MANTO 4
MANTO 5
MANTO 6
MANTO 7
Huiniccasa – Skarn, Mantos
Summary
• Pembrook is well financed – Cdn$24 million in the treasury
• Strong portfolio of Cu Porphyry projects in Peru • 25,000 metres of drilling planned on 4 projects in
2013 - 2014 • Objective
– Preliminary Cu resources estimates by end of 2014
• Joint ventures – Lidia Cu – Au (IOCG) and Hurricane (Ni,Cu,PGE)
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Contact
For further information please contact:
Brian Booth, President & CEO Tel: 778 327 6540
1160 – 1040 West Georgia Street Vancouver, BC V6E 4H1 Canada
www.pembrookmining.com [email protected]
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