Mining

E2 Metals hits best grades to date at new Malvina gold-silver discovery

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By Imelda Cotton - 
E2 Metals ASX E2M Malvina gold silver discovery Argentina Santa Cruz

At the Malvina discovery, E2 Metals hit 4.25m at 3.86g/t gold and 1,355g/t silver from 72m.

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Infill drilling at E2 Metals’ (ASX: E2M) Malvina discovery within the Conserrat gold-silver project in Argentina’s Santa Cruz province has returned the prospect’s highest-grade mineralisation to date.

Assays from nine holes for a total 1,045 metres confirmed continuity of the structure, comprising consistent gold and “particularly high-grade” silver mineralisation.

It is defined by five holes over a 250m strike with a weighted average grade of 2.2 grams per tonne gold and 708g/t silver (12g/t gold equivalent) over 3.5m (downhole width).

Best assays were 7.17m at 2.31g/t gold and 854g/t silver (14.5g/t gold equivalent) from 70.8m, including 4.25m at 3.86g/t gold and 1,355g/t silver (23g/t gold equivalent) from 72m; and 3m at 3g/t gold and 714g/t silver (13.2g/t gold equivalent) from 105.6m.

Malvina Oeste zone

Scout drilling along the Malvina structure defined a new zone of high-grade mineralisation at Malvina Oeste with a best intercept from one hole of 1m at 15g/t gold and 327g/t silver (20g/t gold equivalent) from 65.2m, with mineralisation open in all directions.

Managing director Todd Williams said the results have scope for further extensions and repetitions.

“The very high silver values across consistent widths highlight the potential for gold and silver discoveries within a world-class precious metal’s province,” he said.

“The additional zone defined at Malvina Oeste reflects our ability to find mineralised veins without surface indicators … we remain confident that the broader Malvina sector represents a new vein corridor with tremendous exploration upside.”

Epithermal vein field

Conserrat is host to a newly-recognised and largely concealed epithermal vein field centred 25km along trend from AngloGold Ashanti’s (ASX: AGG) Cerro Vanguardia mine which has historical and current reserves of 8.9 million ounces gold and 137 million ounces silver.

The Malvina discovery was announced earlier this month and features a “blind” high-grade gold-silver vein with best assays of 8m at 0.9g/t gold and 186g/t silver (3.6g/t gold equivalent) from 125m, including 2.5m at 0.8g/t gold and 574g/t silver (9g/t gold equivalent) from 125m; 2m at 4g/t gold and 754g/t silver (14.8g/t gold equivalent) from 100.8m, including 1m at 7.8g/t gold and 1,417g/t silver (28g/t gold equivalent) from 100.8m.

The mineralisation is associated with meter-scale quartz veins emplaced within a homogenous ignimbrite sequence (white lithic tuff) with moderate oxidation and scarce malachite (copper oxides).

E2 said drilling to date had shown a “strong elevation control on mineralisation” with the highest grades best developed from 50 vertical metres below the surface.