NewPeak Metals Hits 663m of Gold-Zinc-Silver From Surface in Argentina Discovery

Discovery hole confirms large-scale gold-zinc-silver system at Las Opeñas

NewPeak Metals has confirmed a large-scale polymetallic mineralised system at its 100%-owned Las Opeñas Gold Project in San Juan Province, Argentina. The company’s first diamond drillhole since 2014 returned 663m @ 0.41g/t AuEq (including 0.16g/t Au, 0.65% Zn and 4.53g/t Ag) from surface to end of hole — demonstrating the scale and continuity of gold-zinc-silver mineralisation across the entire intersection.

The discovery hole, 26-LODH-023, was collared approximately 5m from historic hole 12-LODH-03, which returned 115m @ 0.58g/t Au, 0.65% Zn and 3.5g/t Ag from 18m to end of hole in 2012. The proximity and consistency of results across the two holes provides early confidence in the scale and continuity of the system. At a current market capitalisation of approximately A$4.9 million, the company presents a low entry point for exposure to a discovery-stage polymetallic project in an established mining jurisdiction.

Key intercepts demonstrate scale and grade continuity

The full-hole intersection contains multiple higher-grade zones nested within the broader mineralised envelope, demonstrating grade continuity across significant widths. Selected intercepts from 26-LODH-023 include:

The nested intercept structure — with higher-grade zones within broader mineralised envelopes — is characteristic of systems amenable to bulk mining scenarios. All intercepts are reported as intersection widths; true widths are not yet known due to the early stage of geological interpretation.

What is a polymetallic epithermal system?

Las Opeñas is considered to host epithermal low-sulphidation polymetallic mineralisation. Epithermal systems form from hot fluids circulating near volcanic centres, depositing gold, silver and base metals in veins, breccias and disseminated zones.

The polymetallic nature of the system — containing gold, zinc and silver — matters from an economic perspective. Multiple revenue streams can improve project economics by offsetting processing costs and reducing revenue dependence on a single commodity. The mineralisation at Las Opeñas is hosted in phreatic and phreatomagmatic breccias cutting through volcanic sequences, typical of near-vent environments where fluids interact with groundwater.

Zinc and silver provide critical minerals exposure

Both zinc and silver were added to the United States Geological Survey (USGS) 2025 Critical Minerals List, reflecting their strategic importance and supply-chain vulnerability from a U.S. perspective. This designation positions Las Opeñas within a market increasingly focused on secure critical mineral supplies.

1. Zinc applications: Zinc is widely used as a galvanising coating to protect steel from corrosion, making it essential to infrastructure, transportation, construction and defence applications. The USGS designation reflects U.S. supply-chain vulnerability.
2. Silver applications: Silver is driven mainly by industrial demand, especially in solar panel manufacturing and electronics. By-product supply constraints add to the strategic value of primary silver deposits.
3. USGS critical mineral designation (2025): The formal recognition of zinc and silver as critical minerals enhances the strategic positioning of polymetallic projects carrying meaningful credits in these metals.

Managing Director outlines discovery significance

Mark Purcell, Managing Director

“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.”

Purcell noted the timing of the discovery relative to Argentina’s evolving policy landscape. The Milei government’s introduction of the RIGI framework, combined with San Juan Province’s established mining infrastructure — including Barrick/Shandong’s Veladero Mine — and broader capital reallocation into the country, positions Las Opeñas in a jurisdiction experiencing renewed exploration interest.

Las Opeñas sits within the El Indio Belt, one of South America’s most prospective gold districts. Recent exploration success in the region includes BHP/Lundin’s Vicuña project.

Strategic location in Argentina’s El Indio Belt

Las Opeñas is located in San Juan Province, Argentina, within the prolific El Indio Belt. Key proximity metrics include:

• Approximately 70km southeast of Barrick/Shandong’s Veladero Mine
• Approximately 110km north-northwest of Challenger Gold’s Hualilan Mine
• Nearby exploration activity includes BHP/Lundin’s Vicuña project

The project features a reinterpreted 800m x 600m breccia zone which had previously been drilled to relatively shallow depths. NewPeak’s recent drilling targeted deeper extensions of this breccia area, which appears to form part of a rhyolitic complex associated with phreatic breccias and strong argillic alteration. The scale of the breccia system — both mapped at surface and confirmed at depth in this assay result — provides the geological setting for a large-scale gold-dominant polymetallic breccia system.

Drill programme details and geology

Six-hole programme completed

NewPeak completed 2,464m of diamond drilling across six holes between April and June 2026. Hole 26-LODH-023 was drilled with HQ3 to 602m, then reduced to NQ3 to end of hole at 662.7m. Core recovery exceeded 96% throughout the hole.

Geological observations

The hole is dominated by a volcanic sequence — fine crystal tuffs, lithic breccias and pyroclastic flows — comprising almost half the hole by length. This transitions to 115m of dacitic dome material from 457m, similar to subvolcanic domes forming the ridge tops locally. These volcanic units are typical of the near-vent volcanic environment identified through mapping. The volcanic sequence overlays granodiorite country rock from 575m.

All host rocks are cut by phreatic and phreatomagmatic breccias, predominantly as broad intervals accounting for approximately 25% of the hole. Lesser amounts of hydrothermal breccias occur throughout, but are more common in the upper half. Although this represents only 5% of the hole as a dominant rock type, hydrothermal breccias also occur as minor structures, blebs and veinlets, broadly correlated to higher levels of mineralisation.

Mineralisation appears as disseminated iron and zinc sulphides, common throughout the hole and related to hydrothermal alteration and vein density. Two phases are interpreted from mapping, logging and metal distributions: an early gold-dominant phase associated with hydrothermal veinlets and alteration in the upper half of the hole, overprinted by a broad disseminated silver-zinc phase throughout.

Next steps and resource pathway

Assay results from the remaining five drillholes — totalling 1,802m — are expected to be announced within the next 3-6 weeks. Assuming favourable results, NewPeak is well-placed to accelerate towards declaration of a maiden gold-zinc-silver resource.

Upcoming catalysts include:

1. Remaining 5-hole assay results (3-6 weeks): Results from holes 26-LODH-024 to 26-LODH-028 will provide additional data to support geological interpretation and resource modelling.
2. Potential maiden resource declaration: Subject to favourable results across the broader programme, the company may advance towards a maiden resource estimate.
3. Up to 7,500m additional drilling (permitted): Permitting is already in place to recommence drilling up to another 7,500m, pending availability of suppliers. This allows NewPeak to recommence drilling relatively quickly to further test the large-scale mineralised zone.

Near-term newsflow from pending assays, combined with permitted drilling capacity, provides multiple potential catalysts at a sub-$5 million market cap entry point.

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