Australian Critical Minerals (ASX:ACM) is conducting drilling across four priority diamond drillholes at the Flint Gold-Silver Project in northern Peru this quarter, spanning 1,850m, following a technical review of the asset.
The technical review covered recent NSAMT geophysics, geochemistry, mapping, and induced polarisation data, identifying a geochemical anomaly from historical surface rock samples.
This anomaly is indicative of a high sulphidation epithermal deposit type as it delineates a halo of anomalous pathfinder elements.
Australian Critical Minerals says the review recommended to target five drillholes across the Flint Project in upcoming drilling, with the first four being targeted considered a high priority as the targets are resistive anomalies coincident with surface geochemistry and indicative of the gold-silver system.
Executive Chairman Dean de Largie says the company is well placed to begin drilling at Flint with permits in place and funding secured.
“Importantly, the project sits within a highly endowed epithermal gold-silver province, reinforcing the potential scale and significance of the system we are targeting,” de Largie says.
“The recently completed NSAMT survey has identified a series of resistive targets over a strike length of approximately 4km, supporting the interpretation of a large high-sulphidation epithermal gold-silver system.
“In combination with historic surface geochemistry and mapping in the northern end of the project, these results provide compelling high-priority drill targets for our initial program.
“In the background, the team has signed surface access governments, received approval of the company’s environmental permit, and informed the relevant authority of our intention to commence drilling activities this quarter.”
As reported by Mining.com.au yesterday (29 January), Australian Critical Minerals is currently raising $3 million through a share placement to fund exploration activities across its Peruvian portfolio. A main focus of this funding initiative is to cover costs related to upcoming drilling at Flint.
Located 80km east of Trujillo in La Libertad, northern Peru, the Flint Project spans 2,200 hectares of land in an epithermal metallogenic belt that hosts a gold inventory and production history of more than 50 million ounces of gold.
Australian Critical Minerals is an exploration company with a portfolio of precious and base metals projects in Peru and Western Australia.
Write to Maddison Elliott at Mining.com.au
Images: Australian Critical Minerals
