Australian Critical Minerals (ASX:ACM) has completed the first phase of its maiden diamond drilling program at the Flint Gold Silver Project in Peru, with hyperspectral data confirming a large-scale hydrothermal system extending over 4km.
The company completed four drill holes for 1,773m at the project, located 60km from the La Arena epithermal gold-silver and porphyry copper-gold system. The program tested the northern 900m of the interpreted hydrothermal corridor beneath a mapped quartz-alunite lithocap.
Hyperspectral data indicates drilling intersected a high-sulphidation hydrothermal system overprinting a porphyry-style alteration system, which is consistent with ACM’s geophysical and geochemical model.
Hole FLDDH002 emerged as the standout hole, intersecting the strongest advanced argillic alteration from 0.4–47m downhole, as well as phyllic alteration from 389m to end of hole.
Meanwhile, hole FLDDH001 intersected increasing anhydrite veining from 286m.
Executive Chairman Dean de Largie says the completion of phase one drilling marks an important milestone for ACM.
“[Phase one drilling] represents the first systematic subsurface test of the northern portion of the large hydrothermal system previously identified from surface geology, geophysics, and geochemistry,” de Largie says.
He says hole FLDDH002 stands out as “the visually and texturally most significant hole drilled so far”.
“The mineralogy identified in spectral data has confirmed that Flint hosts a high-sulphidation hydrothermal system, as well as porphyry style mineralisation potential.”
ACM says core from all four holes has been transported to Xcout’s facility in Lima for detailed logging, photography, core cutting, and advanced multi-sensor scanning.
The company has also submitted 259 samples from hole FLDDH002 to ALS Laboratories in Lima for fire assay and multi-element analysis, with results expected from 8 August 2026.
Once assays are received and integrated with logging, geophysical, and hyperspectral datasets, ACM expects to refine targeting and prioritise the next phase of drilling.
Flint is located within an epithermal-porphyry corridor in northern Peru, where Zijin Mining Group (SHA:601899) announced plans in April 2026 to invest US$1.5 billion ($2.15 billion) to support a 19-year mine life extension at the La Arena copper-gold mine.
Australian Critical Minerals is a resource explorer developing a portfolio of gold, silver, copper, and critical mineral projects, with a focus on Peru.
Write to Paula Fabe at Mining.com.au
Images: Australian Critical Minerals
