공시 • May 14
NewPeak Metals Limited Announces Final Results from Cachi Gold Project, Argentina
NewPeak Metals Limited announced that the maiden drilling at the Cachi Gold Project has displayed the potential makings of an outstanding precious and polymetallic project. All Gold and Multi-element results have been returned from the 6 high priority target areas drilled with anomalous Gold intersected in over 80% of drill holes. This has established an excellent foundation and provided the Board full confidence to progress to the next stage of the earn-in arrangement, which will earn NewPeak 35% equity in the Cachi Project. Cachi Complete Drilling Results The Cachi Gold Project is a vast Caldera hosted epithermal Gold vein system spanning over 10km across and 5km in width with multiple large targets. Within Cachi Gold are 15 high priority targets with 6 of these tested in the current program. Vetas Cachi, Morena and Patricia are currently showing the most potential, though this may evolve as the company progress through future exploration. Vetas Cachi drilling identified broad zones of low sulphidation epithermal multi-phase veining with elevated Gold and Silver over 400m of strike, and open in all directions. Morena and Patricia display polymetallic characteristics with elevated Lead and Zinc associated with Gold and Silver mineralization. In the six targets tested to date, over 80% of the drill holes have returned anomalous Gold, often with elevated Silver and in some areas with Base Metals. The expansive alteration footprint seen at Cachi is evidence of large amounts of hydrothermal fluids moving through the rocks in this caldera system. This coupled with the results to date indicate that these fluids are rich in precious and base metals. The company’s focus moving forward will be to identify the best structural, lithological and geochemical locations within this system which could potentially concentrate these metals, resulting in high or even bonanza grades. Gold and accompanying Silver and Base Metal downhole intersections within the drilling with the most notable being: 27.25m @ 0.81g/t Gold and 67.1g/t Silver from 25.25m in hole CHD21-01, Includes 2m @ 0.65g/t Gold and 805g/t Silver from 30m; 7.00m @ 0.64g/t Gold and 11.5g/t Silver from 122.0m in hole CHD21-04; 4.90m @ 0.98g/t Gold and 19.9g/t Silver from 64.10m in hole CHD21-05; 12.70m @ 0.64g/t Gold and 4.8g/t Silver from 47.3m in hole CHD21-08, Includes 0.95m @ 4.76g/t Gold and 16g/t Silver from 50.4m; 2.90m @ 0.84g/t Gold from 1.1m in holes CHD21-13, Includes 0.5m @ 4.03g/t Gold; 3.40m @ 0.19g/t Gold, 13g/t Silver and 0.62% Lead from 29.0m in hole CHD21-16; 2.10m @ 0.04g/t Gold, 14g/t Silver and 0.26% Lead from 4.70m in hole CHD21-19; 0.50m @ 0.32g/t Gold, 74g/t Silver, 1.31% Lead and 0.21% Copper from 71.5m in hole CHD21-19; 1.00m @ 0.22g/t Gold, 10g/t Silver and 0.33% Lead from 29.0m in hole CHD21-16. Mineralisation intersected in the drilling was predominantly associated with breccias, as well as sheeted veinlets and stockwork veins with alteration and textures typically associated with a high level, low sulphidation vein system. Twenty one diamond drill holes for a total of 2,641.5m were completed in this maiden program. All holes have been logged and sampled with samples submitted to Alex Stewart Laboratories in Perito Moreno, Santa Cruz. Assaying methods included 30g Fire Assay with AAS finish for Gold analysis and 4 Acid Digest Multi-element analysis for 39 other elements including Silver. New High Priority Targets Morena and Patricia: Morena and Patricia display polymetallic characteristics with elevated Lead and Zinc associated with robust Gold and Silver mineralisation. The intersections below from past and current drilling indicate that the Morena and Patricia targets are highly prospective and further work is targeted following winter. Morena: 2.5m @ 1.4g/t Gold, 25g/t Silver, 0.19% Lead and 0.09% Zinc from 155.3m in SM-13-14, Includes 0.5m @ 3.69g/t Gold and 50g/t Silver from 156.3m; 2.0m @ 0.4g/t Gold, 106.5g/t Silver, 0.64% Lead and 0.32% Zinc from 205.9 in SM-13-14, Includes 1.0m @ 0.59g/t Gold, 164g/t Silver, 1.22% Lead and 0.64% Zinc from 206.9m; 2.4m @ 21.5g/t Silver, 4.15% Lead and 17.07% Zinc from 135.8m in SM-13-16, Includes 1.0m @ 7.63% Lead and 30.20% Zinc from 135.8m. Patricia: 3.40m @ 0.19g/t Gold, 13g/t Silver and 0.62% Lead from 29.0m in hole CHD21-16; 2.10m @ 0.04g/t Gold, 14g/t Silver and 0.26% Lead from 4.70m in hole CHD21-19; 0.50m @ 0.32g/t Gold, 74g/t Silver, 1.31% Lead and 0.21% Copper from 71.5m in hole CHD21-19; 1.00m @ 0.22g/t Gold, 10g/t Silver and 0.33% Lead from 85.5m in hole CHD21-20. Polymetallic style epithermal mineralisation is typically characterised by elevated levels of Zinc (sphalerite) and Lead (galena) sulphides in the target zones. Gold and Silver mineralisation hosted in vein breccias and epithermal textures, coupled with elevated Zinc and Lead at the Morena and Patricia targets, suggests that the mineralisation identified at these areas is likely to be of this polymetallic epithermal type. These deposits commonly display vertical metal zonation which can act as a guide for targeting the higher-grade portion of the system. The Morena and Patricia targets are likely to be controlled by the intersection of listric faults along the caldera edge with other structures such as NW or NE faults focusing mineralisation into high grade shoots. Drilling to date has shown that fluids rich in precious and base metals have moved through the rocks and have the capacity to deposit high grade mineralisation in the right structural setting and most favourable rocks. In areas such as Vetas NW and Sofia, drilling identified only thin or absent favourable host rocks. Opportunity for strong mineralisation still exists in these areas where vein structures intersect thicker units of the more favourable host rocks. Drilling to date has successfully shown that the Cachi project is a large fertile system for both Precious and Base Metals. Vetas Cachi, Morena and Patricia targets show significant potential to host higher grade mineralisation and further exploration will unlock this potential. Work will focus on the use of geochemistry obtained from drilling and more detailed structural interpretation of the caldera setting to refine the next phases of exploration and drilling. Both the anomalous and non-anomalous results point the Company in a direction towards making a discovery intersection. The complete drilling program thus far shows the breadth of the expansive Gold project, and the company’s aggressive strategy and experienced management look forward to optimising the next program towards proving Cachi's full potential.