NewPeak Metals Hits 663m of Gold-Zinc-Silver From Surface in First Hole Since 2014
NewPeak Metals confirms large-scale gold-zinc-silver discovery at Las Opeñas
NewPeak Metals has confirmed the discovery of a large-scale polymetallic mineralised system at its 100%-owned Las Opeñas Project in Argentina, with the first drill hole of its 2026 programme returning 663m @ 0.41g/t AuEq (including 0.16g/t Au, 0.65% Zn and 4.53g/t Ag) from surface to end of hole. This marks the first hole drilled at Las Opeñas since 2019, and the first diamond drill hole completed at the project since 2014, with mineralisation extending continuously over the entire hole length.
Las Opeñas sits within the El Indio Belt, one of South America’s most prospective gold districts, and is located approximately 70km southeast of Barrick/Shandong’s Veladero Mine. The company’s current market capitalisation of approximately A$4.9 million provides context for the scale of this discovery.
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Drill results reveal continuous mineralisation with higher-grade zones
The headline intersection of 663m @ 0.41g/t AuEq from surface includes three higher-grade intercepts that demonstrate the presence of enriched mineralisation within the broader envelope. Hole 26-LODH-023 was collared 5m south of historic hole 12-LODH-03, which returned 115m @ 0.58g/t Au, 0.65% Zn, 3.5g/t Ag from 18m to end of hole in 2012. The proximity and consistency between these two holes provide early confidence in the scale and continuity of the mineralised system.
| Intercept | Gold (Au) | Zinc (Zn) | Silver (Ag) | AuEq Grade | From |
|---|---|---|---|---|---|
| 663m | 0.16g/t | 0.65% | 4.53g/t | 0.41g/t | Surface |
| 426m | 0.25g/t | 0.69% | 4.21g/t | 0.50g/t | Surface |
| 282m | 0.34g/t | 0.84% | 5.01g/t | 0.65g/t | 7m |
| 84m | 0.50g/t | 0.60% | 4.01g/t | 0.72g/t | 20m |
The nested higher-grade zones within the broader mineralised envelope suggest potential for both bulk-tonnage and selective mining scenarios in future studies.
What is a gold equivalent grade and why does it matter?
Gold equivalent (AuEq) calculations allow investors to compare polymetallic deposits on a standardised basis by converting all metals to a single gold value. This enables meaningful comparison across projects where multiple metals contribute to potential economic value.
NewPeak used 90% recovery assumptions for gold, zinc and silver based on comparable deposits, specifically the Hera mine which achieved recoveries between 90-91% for these metals. The company used spot prices as at 30 June 2026: gold US$4,007.53/oz, zinc US$3,536.08/t, and silver US$58.59/oz. NewPeak plans to conduct metallurgical studies to better quantify expected recoveries for Las Opeñas specifically.
AuEq grades enable investors to understand the total economic value of mineralisation where multiple metals contribute to potential revenue.
Zinc and silver add critical minerals upside to the project
Both zinc and silver were added to the USGS 2025 Critical Minerals List, enhancing the strategic positioning of the Las Opeñas discovery. Zinc earned its critical mineral designation due to US vulnerability to supply chains, reflecting its essential role in galvanising coatings for steel across infrastructure, transportation, construction and defence applications.
Silver’s critical mineral status stems from industrial demand drivers, particularly in solar and electronics applications, combined with byproduct supply constraints. The polymetallic nature of mineralisation at Las Opeñas provides meaningful byproduct credits throughout the system, diversifying commodity exposure in a market increasingly focused on secure supply chains for critical minerals.
The presence of two USGS-designated critical minerals alongside gold may attract interest from investors focused on critical minerals supply security.
Managing Director outlines discovery significance
Mark Purcell, Managing Director
“The first hole drilled at Las Opeñas since 2019, and the first diamond drill hole drilled since 2014, has confirmed the discovery of a large scale gold-zinc-silver system from surface, with polymetallic mineralisation extending over the entire hole. Uncovering a system of such substantial scale is exactly what we hoped to achieve. The presence of meaningful zinc and silver credits is also very encouraging given both metals have been formally recognised as critical minerals by the USGS in 2025.”
“Las Opeñas sits within the El Indio Belt, one of the most prospective gold districts in South America, and today’s announcement underscores what makes Argentina such a compelling jurisdiction for exploration right now,” said Purcell.
He noted the Milei government’s support, including the RIGI framework, positions the company favourably in a mining-focused province that hosts established operations such as Veladero and recent exploration success at BHP/Lundin’s Vicuña project.
Project location and geological setting
Las Opeñas is located in San Juan Province, Argentina, approximately 70km southeast of Barrick/Shandong’s Veladero Mine and 110km north-northwest of Challenger Gold’s Hualilan Mine. The closest village is Malimán de Abajo, situated 25km southeast of the project.
The favourable regulatory environment under the Milei government, including the RIGI framework, supports exploration activity in this established mining province. The project features an 800m x 600m breccia zone with two distinct mineralisation phases:
- Broad silver-dominated pervasive mineralisation in phreatic breccias
- Gold-silver-polymetallic mineralisation hosted in discrete hydrothermal breccias
San Juan Province hosts multiple operating mines and benefits from established infrastructure, reducing sovereign risk considerations for the project.
Geology supports potential for large-scale system
The drill hole intersected a volcanoclastic sequence with local variations between fine crystal tuffs to lithic breccias and pyroclastic flows, comprising almost half the hole by length. This transitions to 115m of dacitic dome material from 457m, similar to volcanic and subvolcanic domes forming local ridge tops. The volcanic sequence overlays granodiorite country rock from 575m.
Phreatic and phreatomagmatic breccias cut through all major rock types, accounting for almost a quarter of the hole length. Lesser amounts of hydrothermal breccias occur throughout, more commonly in the upper half, representing approximately 5% of the hole as a dominant rock type but also occurring as minor structures, blebs and veinlets.
Mineralisation is considered polymetallic low-sulphidation epithermal in style, appearing as disseminated iron and zinc sulphides common throughout the hole. Two phases are interpreted: an early gold-dominant phase associated with hydrothermal veinlets and alteration in the upper half, overprinted by a broad disseminated silver-zinc phase throughout.
The geological setting and mineralisation style are consistent with large-scale epithermal systems, supporting the company’s interpretation of discovery potential.
Path to maiden resource and next steps
NewPeak completed 6 holes totalling 2,464m in its 1H2026 drill programme between April and June 2026. Assay results from the remaining 5 drill holes (1,802m) are anticipated within 3-6 weeks. Assuming favourable results, the company is well placed to accelerate towards declaration of a maiden gold-zinc-silver resource.
Permitting is already in place for up to 7,500m of additional drilling, allowing NewPeak to recommence drilling relatively quickly pending supplier availability. This regulatory foundation enables the company to maintain momentum towards resource definition without permitting delays.
The rapid turnaround on remaining assays and pre-existing drill permits position the company to maintain exploration momentum without regulatory constraints.
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Investment thesis for NewPeak Metals
The Las Opeñas discovery presents several investment considerations following this announcement:
- Discovery-stage exposure at approximately A$4.9 million market capitalisation
- 100% ownership of Las Opeñas Project providing full exposure to value creation
- Large-scale mineralised system confirmed from first hole with 663m of continuous mineralisation from surface
- Dual critical minerals exposure through zinc and silver byproducts
- Mining-friendly jurisdiction with established infrastructure in proximity to operating mines
- Near-term catalysts with 5 additional holes (1,802m) pending assay results within 3-6 weeks
The combination of scale of discovery, critical minerals exposure, and current market capitalisation presents a risk-reward profile that may appeal to investors seeking early-stage exploration exposure in a jurisdiction with established mining operations and supportive regulatory framework.
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