Argentina explorer E2 Metals (ASX: E2M) says its El Rosillo project looks to be an emerging greenfield discovery located on the same belt that hosts Pan American Silver’s Navidad for which that Vancouver-based company has a US$1 billion development budget.
Surface trenching at Prospect 37A within the El Rosillo project in Rio Negro province has indicated high grades of both metals, E2 Metals stated.
With assays back for three of the trenches, the first returned 3m at 113 grams per tonne gold and 35g/t silver, including 0.7m at 500g/t gold and 153g/t silver.
The second trench assayed over 10.7m at 3.7g/t gold, including 3.2m at 9.3g/t, while the third trench returned 25m at 2.9g/t, including 2m at 28g/t.
Mineralisation open in all directions
E2 Metals says mineralisation lies within three structures defined over a 75m strike length, with that mineralisation open in all directions and then disappearing under shallow gravel cover.
These trench assays are in addition to previously reported mineralisation at Prospect 38A, located on a separate structure 1.5km to the north, which returned 1m at 279g/t gold and 116g/t silver.
The company said these results from the two prospects “confirm El Rosillo to be an emerging greenfield discovery located within the Gastre fault zone which is host to Pan American Silver’s world-class Navidad silver deposit”.
E2 Metals managing director Todd Williams said these trench and surface sampling results are important and show multiple high-grade structures in areas of shallow cover.
Furthermore, these results are coincident with anomalies in E2 Metals’ composite grid survey.
Walk-up drill targets identified
Mr Williams said the results also confirm the methods’ effectiveness in defining blind structures in the project area.
“We are excited by the thickness and tenor of gold mineralisation at Prospects 37A and 38A with both representing clear walk-up drill targets.”
Back in July 2021, E2 Metals reported rock chip sampling at Prospect 38B had returned up to 1,017g/t silver and 1.2g/t gold (the highest silver value today for the project), while at Prospect 38C rock samples contained up to 32g/t gold, 89g/t silver, 0.6% copper and about 1% lead.
The company says gold and silver assays from 17 trenches remain outstanding with results expected in late March.