E2 Metals reports high-grade gold-silver assays from drilling at Conserrat targets

Australia-based explorer E2 Metals (ASX: E2M) has reported new high-grade drilling results from prospects within the Conserrat gold-silver project in Argentina’s Santa Cruz province.

Assays were received for holes drilled at Malvina and Andrea Sur as part of a 1,605-metre infill diamond program aimed at extending known mineralisation.

Malvina drilling

High-grade mineralisation at Malvina was defined by 25 holes over a 350m strike length and 150m vertical with a weighted average grade of 2.5 grams per tonne gold and 734g/t silver (or 13g/t gold equivalent) over a 3m downhole width.

Best results were: 2m at 2.8g/t gold and 539g/t silver (10.6g/t gold equivalent) from 136.7m; 2m at 2.5g/t gold and 507g/t silver (9.8g/t gold equivalent) from 132.4m; 3m at 3.1g/t gold and 575g/t silver (11.3g/t gold equivalent) from 39.2m; and 1.7m at 4.5g/t gold and 2065g/t silver (34g/t gold equivalent) from 143.3m.

Scout drilling elsewhere in the Malvina sector led to the discovery of the Malvina Norte vein structure, located 125m to the north on a separate parallel trend.

The structure was defined over 600m strike on initial drill sections spaced 150m apart.

While gold and silver grades were generally low, one of the holes returned 2m at 1g/t gold and 23g/t silver (1.3g/t gold equivalent), showing that grades increase to the southeast where further scout drilling is planned.

Andrea Sur results

At the Andrea Sur prospect, three holes for 250.5m returned highlights of 4m at 8.4g/t gold and 31g/t silver (9g/t gold equivalent) from 51m, including 1m at 31.2g/t gold and 45g/t silver (31.8g/t gold equivalent) from 51m.

The mineralisation is believed to be open at depth and along strike to the northwest where the prospective geology is overlain by a thin veneer of younger lake sediments.

Located 2.5km from Malvina within the western extension of the Conserrat epithermal vein field, Andrea Sur was initially prioritised for scout drill testing due to the presence of epithermal vein boulders extending over 150m of strike.

Since the initial discovery hole in November, which returned 16m at 15g/t gold and 22g/t silver, the mineralisation has been shown to be influenced by coarse gold.

Epithermal vein field

The Conserrat project 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 hosts historical and current reserves of 8.9 million ounces gold and 137Moz silver.

E2 Metals said drilling at Conserrat will resume in September after the winter field break.

In the meantime, the company will shift focus to the greenfields El Rosillo project in Argentina’s Rio Negro province, where drilling is ongoing and first results are expected next month.