NewPeak Metals announces gold trifecta with progress in NZ, Argentina, Finland
NewPeak Metals says both December drilling programs are fully funded.
Brisbane-based NewPeak Metals (ASX: NPM) has announced gold drilling will begin in New Zealand and Argentina next month along with the junior being granted an additional gold exploration permit in Finland.
Finland is earmarked for a drilling program in 2021.
The company, which recently changed its name from Dark Horse Resources, says both the December drilling programs are fully funded.
NewPeak has several New Zealand permit licences in the Central Otago region which was the scene of New Zealand’s first gold rush after the 1861 discovery at the now famed Gabriels Gully.
The drilling program there will take place at the Cap Burn project which lies inland from the South Island’s major gold mine, Macraes, operated by OceanaGold (ASX: OGC).
Drilling will test the large mineralised surface anomaly within Cap Burn East, the closest part of the tenement to Macraes.
The main target is a 1km by 1km arsenic soil anomaly with coincident gold in soils and rock chip samples.
Three projects labelled as priorities
At least 12 shallow and deeper diamond drill holes, with a maximum depth of 200m, have been planned for more than 1,000m of drilling.
NewPeak has designated three projects as the most advanced it its pipeline — Cap Burn East and West along with Carrick.
Carrick, south of the town of Cromwell, lies in the old Carrick goldfield, discovered in 1864 with recorded historical gold production of 24,047oz between 1864 and 1921, the gold coming from 52 different mining claims.
“These [three] projects have sufficient data to develop drill targets whilst the remaining tenements are at earlier stages of development but are considered highly prospective,” the company said.
Drilling in Argentina in December, second project next year
In Argentina, drilling next month will test two main targets at the Cachi gold project.
Meanwhile, NewPeak is readying to drill its Las Openas gold project in that South American country in the first half of 2021.
The main target there is Presagio, which is described as “a large intricate vein set composed of multiple veins and vein breccias varying from 200m to 2,200m in length, stacked over a corridor width up to 200m and open in all directions”.
Further progress is also being made in Finland.
A large reservation permit, Onnia, has been granted to NewPeak, with this ground surrounding the company’s Hopeavuori gold project.
The two-year permit will allow NewPeak to assess the gold potential there.