NewPeak Metals (ASX: NPM) has reported promising results from rock chip sampling at its Cachi Gold Project in Argentina, with ‘significant’ highlight grades including 130.4g/t Au and 17,111g/t Ag from the new Simon target.
Further highlight grades include:
- 7.5g/t Au, 65g/t Ag
- 2.9g/t Au, 200g/t Ag and 2.1% Pb
- 2.9g/t Au, 67g/t Ag and 5.67% Pb
- 1.66g/t Au, 61g/t Ag and 2.6% Pb
The 50km² Cachi Gold Project is described by NewPeak as a ‘vast’ caldera-hosted epithermal gold vein system, situated in the Deseado Massif in Argentina’s Santa Cruz province. This region is host to a number of million-plus ounce epithermal-style gold-silver deposits.
A total of 22 rock chip samples have been recovered from the Simon target, with 16 returning anomalous assay results
Surface work at the project, which houses multiple ‘large’ targets, is continuing to map epithermal veins along with associated surface alteration. The discovery of the new Simon target has underscored NewPeak’s ambition of defining a JORC-standard gold resource at Cachi.
Mapping and rock chip sampling at the project has been focussed primarily along the southern margin of the interpreted caldera boundary. A total of 142 rock chip samples have been recovered from areas of interest, of which 22 have some from Simon, and 16 of these returning anomalous assay results.
Map of the Cachi Gold Project displaying rock chip sample location and various targetsThe company reports that this area contains narrow, parallel veinlets, typically 10-15cm in width, extending to as much as 20-50 cm.
Magnetic and GAIP geophysical surveys at Cachi are progressing, and are tasked with providing sub-surface data on the nature of mineralisation to better-define these targets.
Images: NewPeak Metals Limited
