Las Opeñas Gold Project, Argentina

Surface sampling at Las Opeñas has returned Gold values of up to 54.2g/t and Silver to 3,112g/t. Initial shallow phase drilling intersected Gold values of up to 4.8g/t Gold and 528g/t Silver. Las Opeñas is ready for a major drilling program with NewPeak targeting a tier 1 precious metal resource. 

Located in the mining friendly province of San Juan, the lease area is 1,462ha at an elevation of 3,000m. Las Opeñas lies on the same structural trends of the Indio Belt which hosts several large deposits including the multi-million-ounce Gold deposits of Barrick Gold’s Veladero and Pascua Lama.

NewPeak has focussed on the highly mineralised array of epithermal Gold and Silver veins, adjacent to a magmatic breccia system, likely to have formed from a deeper porphyry system, currently untested. The breccia has similar geological characteristics to Gold Field’s Salares Nortes deposit in Chile which has over 2 million ounces of gold below 100m depth and a surface expression of only 200m by 300m. 

A successful Gradient Array Induced Polarisation Survey (GAIP) which focused on the Belleza Target was conducted last quarter. Two large 600-800m long and 100-150m wide chargeability anomalies were defined in the GAIP survey confirming the system warrants further work.

During the quarter, geological mapping and sampling continued on the Northern and Southern chargeability zones at the Belleza Target to assist with planning for the next phase of drilling. Results from sampling, confirmed that Gold and Base Metal mineralisation is strongest at surface across the Northern 600 x 100m wide GAIP geophysical anomaly with a rock chip sample retuning 19.17g/t Gold from additional sampling on the northern anomaly.

The project has the potential to host a large intermediate sulphidation epithermal system of bulk tonnage Gold-Silver-Base Metal mineralisation enhanced by structurally controlled high-grade precious metal mineralisation.