CACHI GOLD PROJECT, ARGENTINA
Cachi is located in the Deseado Massif, Santa Cruz province, Argentina, host to numerous multi-million-ounce, epithermal style Gold-Silver deposits including Cerro Vanguardia (AngloGold Ashanti), Cerro Negro (Newmont) and Cerro Moro (Yamana).
The recent maiden drilling program at Vetas Cachi prospect successfully proved the mineralised system to be fertile at depth, identifying a wider than expected main breccia vein continuous at depth to over 200m.
These results confirm the vast scale of the Cachi Gold Project as a whole, where some 15 high quality targets remain to be drill tested with drilling continuing in March.
The Cachi Gold Project is a vast Caldera hosted epithermal Gold vein system spanning over 10km across with multiple large targets, likely similar in geology and mineralisation to Yamana’s Cerro Moro deposit to the east.
Cachi is located in the Deseado Massif, Santa Cruz province, Argentina, host to numerous multi-million-ounce, epithermal style Gold-Silver deposits including Cerro Vanguardia (AngloGold Ashanti), Cerro Negro (Newmont) and Cerro Moro (Yamana).
Vetas Cachi is currently the largest prospect with a structural corridor of 1,000m long by 315m wide, open in all directions. Resources will be defined from surface, meaning drilling costs to achieve JORC Standard will be comparatively low.
At successful maiden drilling program, Vetas Cachi target.
Drilling intersected veins and textures typically associated with a high level, low sulphidation vein system. Low sulphidation epithermal deposits generally form within 500m of the surface and are the upper parts of an intrusion related hydrothermal system.
Results from drilling revealed a specific type of rhyolite host which is a common feature in the Deseado Massif for known multi-million-ounce precious metal deposits.
The drilling program was pivotal in proving that Vetas Cachi supports broad zones of low sulphidation epithermal multi-phase veining with elevated Gold over 400m of strike. It also confirms the scale and fertility of the Cachi Gold Project as a whole.
Four holes successfully intersected the main breccia vein in holes CHD21-01, CHD21-04, CHD21-07 and CHD21-08 to a depth of over 200m.
Significant downhole intersections within the drilling include:
27.25m @ 0.81g/t Gold from 25.25m in hole CHD21-01 including 3.9m @ 2.38g/t from 43.1m which also included 1m @ 5.03g/t Gold from 45.0m;
7.0m @ 0.61g/t Gold from 122.0m in hole CHD21-04;
4.90m @ 0.98g/t Gold from 64.10m in hole CHD21-05;
16.0m @ 0.63g/t Gold from 10m which includes 1m @ of 5.03g/t Gold from 11.0m and a second interval of 12.70 @ 0.64g/t Gold from 47.30m which includes 0.95m of 4.76g/t Gold from 50.40m in hole CHD21-08.
In addition to Vetas Cachi, there are more than 15 high priority targets including, Vetas NW, Morena, Puma, Patricia, Valiente and Sofia. Recently, a new target called Simon has been identified, with sampling revealing exceptional Gold and Silver grades of 130.4g/t Gold and 17.1kg/t Silver from a rock chip sample.
NewPeak looks forward to reaching a significant “discovery” in Cachi by drilling these targets with the ultimate goal of defining a multi-million ounce supply of one of the world’s most in-demand resources -Gold.
NewPeak invites shareholders and interested parties to watch this space. Please subscribe to our email out or twitter feed (@ASX_NPM) to keep abreast of exciting advancements.
For more information, please contact us at info@newpeak.com.au