NewPeak Metals Hits 663m of Gold-Zinc-Silver From Surface in Argentina Discovery
NewPeak Metals confirms large-scale gold-zinc-silver discovery at Las Opeñas
NewPeak Metals has announced assay results from the first diamond drillhole since 2014 at its 100%-owned Las Opeñas Gold Project in San Juan Province, Argentina, confirming a large-scale polymetallic mineralised system. Hole 26-LODH-023 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, with mineralisation extending through the entire drillhole.
The project sits within the El Indio Belt, one of South America’s most prospective gold districts. The company’s current market capitalisation of approximately A$4.9 million positions the discovery as a potential re-rating catalyst if subsequent drilling confirms system continuity.
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High-grade intervals highlight gold-dominant upper zone
The drillhole returned several nested intercepts demonstrating grade concentration in the upper portion of the mineralised system. Key results include 84m @ 0.72g/t AuEq (including 0.50g/t Au, 0.60% Zn and 4.01g/t Ag) from 20m, marking the strongest gold interval defined by a 0.5g/t Au cut-off.
| Interval | From (m) | Length (m) | AuEq (g/t) | Au (g/t) | Zn (%) | Ag (g/t) |
|---|---|---|---|---|---|---|
| Full hole | 0 | 663 | 0.41 | 0.16 | 0.65 | 4.53 |
| Upper mineralised zone | 7 | 282 | 0.65 | 0.34 | 0.84 | 5.01 |
| Strongest gold interval | 20 | 84 | 0.72 | 0.50 | 0.60 | 4.01 |
| Continuous from surface | 0 | 426 | 0.50 | 0.25 | 0.69 | 4.21 |
The upper 282m interval commencing at 7m depth demonstrates the gold-dominant phase of mineralisation, with grades averaging 0.34g/t Au alongside meaningful zinc and silver credits. Near-surface higher-grade gold intervals enhance potential project economics and simplify early mine planning scenarios if a resource is established.
What is a polymetallic epithermal system?
Epithermal mineralisation forms from hot fluids rising through volcanic rocks at relatively shallow depths. The low-sulphidation style identified at Las Opeñas typically produces deposits amenable to conventional processing methods.
Polymetallic systems contain multiple valuable metals rather than a single commodity. At Las Opeñas, gold, zinc and silver occur together, which can improve project economics through byproduct credits that reduce the effective cost of producing the primary metal.
The El Indio Belt geological setting has produced significant gold mines in the region, providing a proven framework for this style of mineralisation.
Zinc and silver add critical minerals exposure
Both zinc and silver were added to the USGS 2025 Critical Minerals List due to supply chain vulnerabilities. Zinc is widely used as a galvanising coating to protect steel from corrosion, with essential applications in infrastructure, construction, transportation and defence.
Silver demand is driven mainly by industrial applications, particularly in solar panel manufacturing and electronics. The combination of gold with meaningful zinc and silver credits provides diversified commodity exposure.
Byproduct credits from zinc and silver could materially enhance project economics beyond gold alone, particularly as jurisdictions prioritise critical mineral supply security.
Historic drilling validates system continuity
Hole 26-LODH-023 was collared approximately 5m from historic hole 12-LODH-03, which was drilled by Genesis Minerals in 2012. The historic hole returned 115m @ 0.58g/t Au, 0.65% Zn, 3.5g/t Ag and 0.24% Pb from 18m to end of hole.
Consistency between the two holes, despite different drilling azimuths, provides early confidence in system scale and lateral continuity. Teck Minerals originally discovered the prospect in 2005 before Genesis conducted drilling programmes in 2012 and 2014.
The correlation between new and historic drilling reduces geological risk and supports the case for resource definition potential across the broader breccia system.
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.”
Purcell highlighted favourable timing factors including the Milei government’s support through the RIGI framework, San Juan Province’s mining-friendly credentials demonstrated by hosting Barrick/Shandong’s Veladero mine, and increased capital allocation to Argentina.
Regional exploration context includes BHP/Lundin’s Vicuña project success, underscoring the district’s prospectivity.
Remaining assay results and pathway to resource
Assay results from the remaining five drillholes, totalling 1,802m, are expected within the next 3-6 weeks. If results are favourable, NewPeak is positioned to accelerate toward declaration of a maiden gold-zinc-silver resource.
Permitting is already in place for up to another 7,500m of drilling, allowing rapid follow-up pending supplier availability. The total 2026 programme comprised 2,464m of diamond drilling across 6 holes completed between April and June 2026.
- Assay results from five remaining holes (26-LODH-024 to 26-LODH-028) due within 3-6 weeks
- Potential acceleration toward maiden resource declaration (subject to favourable results)
- Permitting in place for additional 7,500m drilling programme
Near-term newsflow from pending assays provides multiple potential re-rating catalysts, whilst pre-approved permits de-risk the path to expanded drilling.
Geological setting supports scale potential
The breccia target comprises an 800m x 600m reinterpreted zone that had previously been drilled only to shallow depths. NewPeak’s 2026 programme drilled deeper into this zone, which appears part of a rhyolitic volcanic complex with phreatic breccias and strong argillic alteration.
Two distinct mineralisation phases have been identified: an early gold-dominant phase associated with hydrothermal veinlets in the upper hole, and a broad disseminated silver-zinc phase throughout. The combination of surface-mapped breccia extent and drill-confirmed depth suggests potential for a large-scale gold-dominant polymetallic system.
- Low-sulphidation epithermal mineralisation style
- Disseminated iron and zinc sulphides throughout the hole
- Mineralisation associated with phreatic/phreatomagmatic breccias cutting volcanic sequence
- Two mineralisation phases: gold-dominant upper zone, silver-zinc phase at depth
The hole is dominated by 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, overlying granodiorite country rock from 575m.
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Project location and regional context
Las Opeñas is located approximately 70km southeast of Barrick/Shandong’s Veladero Mine and 110km north-northwest of Challenger Gold’s Hualilan Mine in San Juan Province, Argentina. The nearest village is Malimán de Abajo, 25km southeast.
San Juan Province’s credentials as a proven mining jurisdiction with operating mines and supportive government framework provide infrastructure accessibility. Proximity to established mining operations demonstrates the region’s capability to host successful mining projects.
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