E2 Metals yields more gold and silver exploration success at flagship Conserrat project

E2 Metals ASX E2M covid Argentina gold silver February 2021 Conserrat Santa Cruz
Over the next three months, E2 Metals will focus on drilling newly identified targets and continue expanding the Mia prospect.

After drilling restarted in January, E2 Metals (ASX: E2M) has received further assays from its flagship Conserrat gold and silver project in Argentina with up to 11.9 grams per tonne gold equivalent uncovered.

This was intercepted at the Florencia target where three mineralised structures were defined over 500m by 300m.

Notable intercepts from Florencia were 13m at 2.6g/t gold and 23g/t silver (2.9g/t gold equivalent) from 31m, including 1m at 9.5g/t gold and 158g/t silver (11.9g/t gold equivalent) from 32m.

E2 said Florencia mineralisation was different to other targets within the project. Florencia is hosted in sulphide veinlets and breccias rather than other prospects where mineralisation is associated with epithermal quartz veins.

“At Florencia, we are encouraged by the scale of the gold system with wide zones of disseminated mineralisation intercepted in the majority of holes,” E2 added.

Over at Mia, drilling hit 16.3m at 0.4g/t gold and 74g/t silver (1.5g/t gold equivalent) from 168.7m. Within that intercept was 2.6m at 0.8g/t gold and 280g/t silver (5g/t gold equivalent) from 172.1m.

Another hole at Mia returned 19m at 0.9g/t gold and 22g/t silver (1.2g/t gold equivalent) from 213m.

E2 stated drilling at Mia was designed to test the lower limits of the mineralisation.

These latest assays are from seven diamond holes for 1,175m and 24 reverse circulation holes for 2,350m. In addition to drilling Mia and Florencia, holes were also undertaken at Emilia Est and Patricia prospects.

IP survey pinpoints new anomalies

As well as drilling, E2 completed a gradient array induced polarisation geophysical survey and identified 12 possible parallel structures over 2km from Florencia to Ro and Malena.

E2 believes this suggests Florencia and Mia are connected beneath shallow cover.

“The focus for the next four weeks will be systemically testing these targets along with ongoing drilling at other prospects,” E2 said.

In the coming months, E2 has planned to carry out a further 7,500m of diamond drilling. The program will focus on discoveries within regional prospects. The company will also continue drilling Mia to define extensions of the known high-grade shoots.

Conserrat is within Argentina’s Santa Cruz Province which is also home to AngloGold Ashanti’s Cerro Vanguardia mine which hosts historical and current reserves of 8.9 million ounces of gold and 137Moz of silver.

    Join Small Caps News

    Get notified of the latest news, interviews and stock alerts.