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- NewPeak Metals (NPM) has completed a maiden drilling program as its Cachi Gold Project in Argentina, with over 80 per cent of holes striking anomalous gold
- The junior explorer drilled 21 holes for 2641.5 metres across six priority targets in the area, with many holes showing silver and base mineralisation, too
- One of the best results from the program includes a 27.25-metre hit grading 0.81 grams per tonne (g/t) of gold and 67.1 g/t of silver from 25.25 metres
- NewPeak said three targets — the Vetas Cachi, Morena and Patricia targets — are currently showing the most potential, though there are still other projects to be tested
- As such, the company said it is planning further exploration work at these targets to test their potential
- Shares in NewPeak have traded sideways today, sitting grey at 0.2 cents each in early morning trade
NewPeak Metals (NPM) has completed a maiden drilling program as its Cachi Gold Project in Argentina, with over 80 per cent of holes striking anomalous gold.
The junior explorer said the program shows the project has the potential makings of an “outstanding precious and polymetallic project”.
As part of the program, NewPeak drilled 21 holes for 2641.5 metres across from six priority targets in the project area. On top of the anomalous gold, NewPeak said many holes returned silver and base metal mineralisation, too.
Some of the best results from the drilling program include a 27.25-metre intersection grading 0.81 grams per tonne (g/t) of gold and 67.1 g/t of silver from 25.25 metres. This intersection included a two-metre zone grading 0.65 g/t of gold and 805 g/t of silver from 30 metres.
NewPeak Managing Director and CEO David Mason said the drilling program is “pivotal proof” that the Cachi gold system is fertile at depth.
“Anomalous gold has been identified in the greater majority of the drill holes, reinforcing we are in a highly prospective region, and we will aggressively move the project forward to reach our goal of a major discovery,” David said.
“It takes time, effort and patience to achieve this, which is clearly evidenced by the nearby large precious metals projects in the Deseado Massif gold province,” he said.
The Cachi project covers a 10-kilometre-by-five-kilometre area in Argentina, with 15 priority targets currently highlighted by NewPeak. The company has so far tested six of these targets.
NewPeak said as it stands, the Vetas Cachi, Morena and Patricia targets are showing the most potential, though this could change as more targets are drill-tested by the company.
As such, the company said it is planning further exploration work at these targets to begin to unlock their potential.
Specifically, NewPeak plans to analyse the geochemistry data obtained from the recent bout of drilling to refine its next stages of exploration and drilling.
“We’ve only just begun, but strongly believe it’s only a matter of time before Cachi unveils its true potential,” David said.
Shares in NewPeak have traded sideways today, sitting grey at 0.2 cents each as of 10:13 am AEST. The company has an $11.3 million market cap.
