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NewPeak Metals (ASX:NPM) - CEO & Managing Director, David Mason
CEO & Managing Director, David Mason
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  • NewPeak Metals (NPM) has reported positive gold assay results for its maiden drilling program at Cachi Gold Project in the Santa Cruz province of Argentina
  • The company completed a drilling program at the Vetas Cachi prospect, which included eight diamond drill holes for 1136 metres
  • This is lower than initially planned due to the high demands of the rig
  • The holes have confirmed the scale and prospectivity of the Cachi Gold Project as a whole
  • Drilling will recommence at the project to complete the intended scope of the first program and to test other high priority targets
  • On the market today, NewPeak is in the grey and trading at 0.3 cents per share

NewPeak Metals (NPM) has announced positive gold assay results for its maiden drilling program at Cachi Gold Project in the Santa Cruz province of Argentina.

The company completed a drilling program at the Vetas Cachi prospect, which included eight diamond drill holes for 1136 metres. This is lower than initially planned due to the high demand for the drill rig.

Of the eight holes, four of them successfully intersected the main breccia vein to a depth of over 200 metres. The vein appears to be structurally controllers and the focus of multiple phases of veining.

Additionally, the holes have confirmed the scale and prospectivity of the Cachi Gold Project as a whole, where 15 high-quality targets still need to be drill tested.

Significant downhole intersections include 27.25 metres at 0.81g/t of gold from 25.25 metres, including 3.9 metres at 2.38g/t from 43.1 metres and one metre at 5.03g/t of gold from 45 metres.

“We are very pleased with the positive early results garnered from Cachi’s maiden
drilling program where only eight holes out of a larger planned program were completed,” Chairman Nick Mather said.

“Cachi Gold Project had always been NewPeak’s sleeping giant, and we find ourselves with encouraging results that potentially reveal the tip of the iceberg,” he added.

Drilling will recommence at the project to complete the intended scope of the first program and test other high priority targets.

On the market today, NewPeak is in the grey and trading at 0.3 cents per share at 12:45 pm AEDT.

NPM by the numbers
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