NewPeak Metals Hits 663m of Gold-Zinc-Silver From Surface at Argentine Discovery
NewPeak confirms large-scale gold-zinc-silver discovery at Las Opeñas
NewPeak Metals has announced assay results from its first diamond drillhole at the Las Opeñas Gold Project in San Juan Province, Argentina, confirming the discovery of a large-scale gold-zinc-silver mineralised system. Hole 26-LODH-023 intersected 663m @ 0.41g/t AuEq (including 0.16g/t Au, 0.65% Zn, and 4.53g/t Ag) from surface to end of hole, with mineralisation extending across the entire drilled length.
This represents the first diamond drilling at Las Opeñas since 2014 and validates the scale and continuity of the system anticipated from historic work. The Project is 100% owned by NewPeak and located approximately 70km southeast of Barrick/Shandong’s Veladero Mine in San Juan Province.
The discovery drillhole was collared approximately 5m from historic hole 12-LODH-03, which returned 115m @ 0.58g/t Au, 0.65% Zn, 3.5g/t Ag and 0.24% Pb from 18m to end of hole. The proximity and grade consistency between the two holes, drilled 14 years apart, provides early confidence in the scale and continuity of the mineralised body.
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Key intercepts reveal gold-dominant upper zone
Selected intercepts from hole 26-LODH-023 demonstrate higher-grade gold mineralisation concentrated in the upper portion of the system:
| Intercept | From (m) | Length (m) | Au (g/t) | Zn (%) | Ag (g/t) | AuEq (g/t) |
|---|---|---|---|---|---|---|
| Near-surface envelope | 0 | 426 | 0.25 | 0.69 | 4.21 | 0.50 |
| Broader mineralised zone | 7 | 282 | 0.34 | 0.84 | 5.01 | 0.65 |
| High-grade gold zone | 20 | 84 | 0.50 | 0.60 | 4.01 | 0.72 |
The concentration of higher-grade gold mineralisation in the upper 84m interval, returning 0.50g/t Au, suggests potential for near-surface resource definition. This zone sits within a broader 282m interval averaging 0.34g/t Au from 7m depth, which in turn forms part of a 426m near-surface envelope from surface averaging 0.25g/t Au.
The entire 663m drillhole returned anomalous gold-zinc-silver values, with polymetallic mineralisation extending from surface to end of hole.
What is gold equivalent and why does it matter?
Gold equivalent (AuEq) provides a standardised method to express polymetallic mineralisation in gold terms, allowing investors to compare deposits with different metal mixes on a like-for-like basis.
The AuEq calculations use close prices for 30 June 2026: gold at US$4,007.53/oz, zinc at US$3,536.08/t, and silver at US$58.59/oz. A 90% recovery assumption has been applied across all three metals, based on the Hera mine as a comparable deposit. NewPeak plans future metallurgical studies to refine recovery estimates specific to Las Opeñas.
The formula converts zinc and silver credits into gold-equivalent terms:
[(Au ppm × US$128.84/g) + (Zn % × US$3,563/t × 0.01) + (Ag ppm × US$1.88/g)] / (US$128.84/g)
The polymetallic nature of the deposit means zinc and silver contribute meaningfully to the overall value per tonne.
Zinc and silver add critical minerals dimension
Both zinc and silver appear on the USGS 2025 Critical Minerals List, reflecting their strategic importance and supply-chain vulnerability from a US perspective.
Zinc is widely used as a galvanising coating to protect steel from corrosion and is essential to infrastructure, transportation, construction, and defence applications. Silver is driven by industrial demand, especially from solar and electronics sectors, alongside by-product supply constraints.
Mark Purcell, Managing Director
“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.”
The critical minerals classification enhances Las Opeñas’ strategic positioning as markets increasingly prioritise secure and diversified supplies of materials essential to energy transition and defence applications.
Historic drilling validates mineralisation continuity
Hole 26-LODH-023 was collared approximately 5m from historic hole 12-LODH-03, which was drilled by Genesis Minerals in 2012 and returned 115m @ 0.58g/t Au, 0.65% Zn, 3.5g/t Ag and 0.24% Pb from 18m to end of hole.
The consistency between the two holes, drilled at different azimuths and 14 years apart, provides early confidence in the scale and continuity of the system. This represents the first diamond drillhole at Las Opeñas since 2014, with the most recent drilling prior to 2026 comprising reverse circulation holes completed by NewPeak (then Dark Horse Resources) in 2019.
The 2012 Genesis drilling targeted a phreatomagmatic breccia zone, with results considered too low grade at the time given prevailing commodity prices. The 2026 programme takes advantage of higher metal prices and improved geological understanding to test the system at greater depth.
Geological setting supports large-scale breccia system
Las Opeñas is located within the El Indio Belt, one of South America’s most prospective gold districts. The project sits at the intersection of two regional-scale structures that control a localised sedimentary basin, demonstrating extensional activity.
A series of volcanic centres with dacite intrusives, felsic volcanic domes, and volcanoclastic deposits are associated with these bounding faults. The breccia system has been reinterpreted as an 800m × 600m zone, previously drilled to relatively shallow depths.
Two distinct mineralisation phases have been identified:
- Early gold-dominant phase: Associated with hydrothermal veinlets, stockwork, and crackle breccia
- Later silver-zinc phase: Broad areas of disseminated sulphides with moderate to argillic alteration
The mineralisation style is considered to be low-sulphidation epithermal polymetallic, typical of large-scale breccia systems in the region. Argillic and phyllic alteration is widespread throughout the volcanic units, with strong to intense alteration in and around the dacitic dome complex.
Argentina’s pro-mining environment supports development
Las Opeñas benefits from Argentina’s improving investment climate under the Milei government, including the RIGI (Régimen de Incentivo para Grandes Inversiones) framework designed to attract mining investment.
San Juan Province is a mining-focused jurisdiction hosting operations such as Barrick/Shandong’s Veladero mine and recent exploration success at BHP/Lundin’s Vicuña project. Broader capital reallocation into Argentina’s mining sector is underway following policy reforms.
Mark Purcell, Managing Director
“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. With the Milei government’s support (including the RIGI framework), a mining-focused province like San Juan that hosts mines such as Veladero (Barrick/Shandong) and the recent exploration success BHP/Lundin’s Vicuña project, and the broader capital reallocation into the country, NewPeak appears to be delivering these results in the right place at the right time.”
The favourable regulatory and political backdrop reduces sovereign risk for project advancement, particularly for polymetallic systems with critical minerals exposure.
Assay results from five additional holes due within weeks
A total of 2,464m of diamond drilling was completed across 6 holes between April and June 2026. The drilling programme was designed to test for large-scale gold-dominant polymetallic mineralisation at the Belleza breccia target.
Assay results for 1,802m from the remaining 5 drillholes (26-LODH-024 through 26-LODH-028) are expected to be announced within the next 3–6 weeks. If remaining results are also favourable, NewPeak is well placed to accelerate toward a maiden gold-zinc-silver resource declaration.
Permitting is already in place for up to another 7,500m of drilling, pending supplier availability. This allows NewPeak to recommence drilling relatively quickly to further test the potential of this large-scale mineralised zone.
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Market positioning at current valuation
NewPeak Metals has a current market capitalisation of approximately A$4.9 million, providing a low entry point opportunity ahead of further assay results and potential resource definition.
The Company holds 100% ownership of Las Opeñas with no joint venture dilution, retaining full exposure to exploration success. A 2% Net Smelter Return (NSR) is payable to Teck Argentina Limited on any future production.
The discovery-stage catalyst arrives at a modest market capitalisation, offering leverage to positive follow-up results from the remaining five drillholes and potential acceleration toward resource definition if the broader system is confirmed.
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