E2 Metals reports 8m at 7.46gpt Au and 216gpt Ag at Conserrat

E2 Metals Limited (ASX: E2M) has announced a highly positive update on its scout RC drilling program at the Mia prospect within its Conserrat project in Santa Cruz, Argentina.

The company reported that it has unearthed significant gold and silver assays from the Mia prospect centred 15km along trend from AngloGold Ashanti’s world-class Cerro Vanguardia gold and silver mine.

High-grade results include 16m at 3.91gpt Au, 123gpt Ag from 68m, including 8m at 7.64gpt Au, 216gpt Ag from 76m, and 1m at 36.8gpt Au, 1108gpt Ag from 78m.

E2M said that the hole terminated in mineralisation with 4gpt Au and 22gpt Ag in the final RC drill sample.

The company said that the results demonstrate that the high-grade Mia vein (with up to 43.9gpt Au, 1128gpt Ag in surface rock samples) develops into strong mineralisation at depth. It may be noted that the mineralised structure has been defined over a 280m strike length and is open to the northwest.

E2 Metals reported that the drill holes on adjacent sections confirm the location of the mineralised structure at shallow depths. However, the planned step back holes testing the structure at more favourable depths 50m below the surface were halted due to COVID-19.

Key results from adjacent holes include 19m at 0.52gpt Au, 18.1gpt Ag from 9m, and 3m at 0.57gpt Au, 74gpt Ag from 34m; and 1m at 3.31gpt Au, 10gpt Ag from surface.

Conserrat project

The Conserrat project, the western continuation of the prolific Cerro Vanguardia vein field where in excess of 11 million (gold equivalent) ounces have been mined, is located in Santa Cruz, Argentina.

The project hosts an extensive but partially exposed vein system that was defined by the Company last year. In Oct 2019, the company discovered mineralised vein trends at the Ro and Florencia prospects in the southern project area.

Reconnaissance sampling had then led to the discovery of Mia prospect located 2km southeast of Florencia. In January 2020, surface reconnaissance at Conserrat identified a new high-grade vein called the Patricia Vein located 1km northwest of Mia. Another important prospect is the Veta Blanca prospect, located 2km north of Ro.

Drilling at Mia and Patricia

E2M reported that the Mia drill program commenced on 13 March 2020 but was suspended shortly after in response to COVID-19. Drilling was reduced to five holes for 400m and hole depths ranged from 78 to 84m (CORC-34 to 38). Meanwhile, drilling of only one hole was commenced at the Patricia prospect (CORC-39).

Mia prospect

The company said that at Mia prospect, the first two holes (CORC-34 and 35) were drilled in a scissor configuration and were orientated north and south to test the intersection of the Eastern and Northern Veins.

Three holes (CORC-36 to 38) were drilled on NE-SW orientated sections spaced 100m apart with an SW drill hole azimuth.

Hole CORC-36 was collared adjacent to a cluster of high-grade rock samples (up to 43.9gpt Au, 1128gpt Ag) in a colloform banded epithermal vein and returned the highest-grade drill intercept to date from the Conserrat project. No structural data could be collected on this section and the true width of mineralisation is unknown.

Hole CORC-37 was collared 100m to the northwest of the high-grade intercept where the Northern Vein splits into two separate veins spaced 25m apart. The program was suspended prior to completing the planned step-back hole that would have tested this mineralised structure at a more optimal depth of 50 vertical metres below the surface.

Hole CORC-38 tested the north-westernmost extension of the Northern Vein where it transitions into a fault breccia healed by low temperature chalcedonic silica.

Patricia prospect

The company announced that at the Patricia prospect, the drill hole (CORC-39) was terminated at 40m prior to reaching target depth and the vein (up to 40.4gpt Au and 262gpt Ag at surface) remained untested.

High-grade results from Mia

The company announced that the results of all Mia holes have been received.

Significant intercepts include 2m at 0.82gpt Au, 4.3gpt Ag from 61m (from hole CORC-34); 19m at 0.52gpt Au, 18.1gpt Ag from 9m, and 3m at 0.57gpt Au, 74gpt Ag from 34m (from hole CORC-35); 16m at 3.91gpt Au, 123gpt Ag from 68m, including 8m at 7.64gpt Au, 216gpt Ag from 76m and 1m at 36.8gpt Au, 1108gpt Ag from 78m (from hole CORC-36); and 1m at 3.31gpt Au, 10gpt Ag from surface (from hole CORC-37).

Hole CORC-38 intersected two mineralised zones including 6m at 0.65gpt Au from 10m and 2m at 0.76gpt Au from 37m.

Significance of results

The company said that the results are quite significant, as the gold mineralisation in CORC-36 represents the highest-grade drill intercept encountered in the Conserrat project and indicates the development of potential economic grades and widths.

The company said that the drill results confirm that the banded colloform veins at Mia with visible gold are likely to represent the top of an ore shoot, that is pierced 60 vertical metres below the surface in CORC-36.

E2M noted that the ore shoot within the epithermal vein system is thought to plunge to the northwest (an interpretation based on vein textures and structure).

E2 Metals said that the high grade mineralisation is centred on a flexure in the host structure, where the orientation changes from east to northwest. This is a similar relationship between grade and geometry to that seen at the Veta Blanca and Florencia prospects.

Importantly, the mineralised structure is defined over a 280m strike length and is open to the east, northwest and down-dip and the prospect is located within a prominent chargeability anomaly that extends for 2km to the untested Patricia and poorly tested Florencia prospects.

The company noted that Mia results demonstrate the potential for high-grade ore shoots in the project where drilling has been limited (e.g. Veta Blanca, Ro & Florencia) or remains incomplete (e.g. Patricia).

What’s next?

The company said that future work programs are being finalized contingent to receipt of all outstanding data for the 2019-2020 field season.

Management comments

E2 Metals Managing Director Todd Williams said: “The Mia results are outstanding at this early stage of exploration, displaying grades and thickness typical of a high-grade ore shoot.

The results underscore the potential of Mia and the host structure that extends for over 2km to Patricia and Florencia, in addition to the district of veins at Conserrat that remain untested”.

Written By Jonathan Norris
Jonathan is a founder of Mining.com.au and has been covering the resources industry since 2018. With over 17 years experience in print, broadcast and online media, Jonathan has seen first hand the transformative effect of online niche media.