Our flagship copper project in central Peru. Previously permitted, extensively drilled, and eleven kilometres from the city of Huancavelica.
Pukaqaqa, known locally as Puka, is Olympic Metals' flagship asset: a copper, gold and molybdenum project eleven kilometres from the city of Huancavelica in central Peru. We acquired it from Nexa Resources in November 2024.
The project carries more than US$60 million of prior investment, an Environmental Impact Assessment previously approved in 2015, and an August 2026 NI 43-101 measured and indicated resource of 462 million tonnes grading 0.35 percent copper, or roughly 3.56 billion pounds of contained copper, with molybdenum credits.
Pukaqaqa sits in an established mining district alongside majors including BHP, Barrick, Teck, Vale, First Quantum and Buenaventura. The site has access to grid power and paved highway connectivity to Lima. From here, our path forward is clear: re-permitting, feasibility and construction on the way to first production.
The Property
Location
Eleven kilometres northwest of Huancavelica, central Peru
Land package
Approximately 11,000 hectares
Acquired
November 2024, from Nexa Resources Metals Copper, with gold and molybdenum credits
Deposit type
Skarn and breccia, mineralised from surface
Prior investment
More than US$60 million by previous operators
Environmental approval
Environmental Impact Assessment previously approved in 2015
Drilling to date
784 drill holes, approximately 176,000 metres, since the mid 1990s
Access and power
Two highways from Lima. Substation on the national grid approximately 44 kilometres to the southeast
Altitude
Between 4,200 and 4,860 metres
Mineral Resource Estimate
August 2026 NI 43-101, prepared by GeoEstima SpA. Reported above a net smelter return cut-off of US$10 per tonne within optimised pit shells, using metal prices of US$4.00 per pound copper and US$17.00 per pound molybdenum.
| Category | Tonnes (Mt) | Copper (%) | Contained Cu (Mlb) | Contained Mo (kt) |
|---|---|---|---|---|
| Measured | 212 | 0.38 | 1,761 | 22.4 |
| Indicated | 250 | 0.33 | 1,796 | 22.3 |
| Measured and Indicated | 462 | 0.35 | 3,557 | 44.8 |
| Inferred | 101 | 0.27 | 599 | 7.9 |
Where The Project Sits
Huancavelica is a historic mining region and an active one. Producing operations within roughly ninety kilometres of Pukaqaqa include Cobriza, Yauricocha, Kolpa, Julcani, Recuperada and Bethania. The wider district includes Barrick, BHP, Buenaventura, First Quantum, Hochschild, Minsur, Teck and Vale.
Pukaqaqa Gallery
