Piche Resources Secures Drilling Approval for Promising Gold-Silver Project
Piche Resources Limited (ASX: PR2) has secured a crucial regulatory milestone with the approval of Environmental Impact Assessment (EIA) Reports for its Cerro Chacon gold-silver project in Argentina, paving the way for its maiden drilling program. This development represents a significant step forward in exploring what appears to be one of Argentina's most promising underexplored precious metals systems.
Major Drilling Campaign Ready to Launch
The approved drilling program will target an extensive low-sulphidation epithermal vein system extending over a remarkable 14 km strike length with target widths up to 50 meters. Preparations are well advanced, with:
- 16 km of new access tracks and drill pads for the first 20 drill holes already completed
- 57 reverse circulation drill holes planned across three primary prospects
- Drilling contract negotiations in final stages following site visits by shortlisted providers
The company's exploration has already yielded impressive surface assay results, including gold values up to 11.65 g/t and silver exceeding 200 g/t within a broad low-sulphidation epithermal system.
Multiple High-Priority Targets Identified
Piche has identified three key prospect areas within the mineralized corridor:
| Prospect | Planned Holes | Total Meters | Key Features |
|---|---|---|---|
| Chacon Grid | 45 holes | 5,590 meters | Gold up to 7.6 g/t, silver up to 126 g/t |
| La Javiela | 8 holes | 1,740 meters | Silver up to 333.7 g/t, lead up to 9.48% |
| Toro Hosco | 4 holes | 575 meters | Gold up to 11.65 g/t, silver up to 120.3 g/t |
The targeting strategy combines multiple exploration techniques, including:
- Detailed rock chip and soil geochemistry (over 1,300 samples collected)
- Geological mapping of veins and structural features
- Advanced geophysical surveys (magnetics and induced polarisation)
Similarities to World-Class Regional Deposits
The Cerro Chacon Project shares geological similarities with several world-class deposits in the region. Southern Argentina hosts eight gold-silver mines, including major operations like:
- Cerro Vanguardia (6.6 million ounces gold, 121.33 million ounces silver)
- Cerro Negro (5.36 million ounces gold, 43.67 million ounces silver)
"The Cerro Chacon Project represents a very large, low sulphidation epithermal gold-silver system, with similar geological characteristics to many of the world-class deposits in the region," notes the company.
Understanding Epithermal Gold-Silver Systems
What are epithermal gold-silver systems?
Epithermal deposits form relatively near the Earth's surface (typically within 1.5 km) in areas of volcanic activity. Low-sulphidation systems, like Cerro Chacon, typically feature:
- Quartz veins and stockworks containing precious metals
- Formation at relatively low temperatures (150-300°C)
- Distinctive alteration patterns (silicification, adularia, illite)
- Characteristic pathfinder elements (arsenic, mercury, antimony)
These systems are particularly important in South America, where they host some of the continent's most profitable gold and silver mines. The extensive veining at Cerro Chacon (some extending up to 6 km in strike and up to 50 meters in width) suggests potential for a significant mineral system.
Technical Signature Points to Major Mineralised System
The geological indicators at Cerro Chacon are particularly encouraging:
- Magnetite destruction and associated adularia and illite alteration along structures
- Linear demagnetised zones corresponding with mineralisation
- Highly resistive zones from quartz veins surrounded by conductive zones
- Strong multi-element geochemical signatures with elevated pathfinder elements
This combination of features has proven reliable in identifying productive epithermal systems throughout southern Argentina.
Next Steps and Timeline
With EIA approval secured and site preparations well advanced, Piche is positioned to commence drilling in the near term. The program will systematically test the highest-priority targets across the three prospect areas, beginning with the Chacon Grid in the north of the mineralised corridor.
The company's methodical approach to exploration has built a compelling case for potential mineralisation at depth, with surface sampling, geophysical anomalies, and geological mapping all aligning to create robust drill targets.
Why Investors Should Watch Piche Resources
Piche Resources presents an intriguing opportunity for investors interested in early-stage precious metals exploration for several compelling reasons:
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Strategic Location: The project is situated in a proven gold-silver district with multiple producing mines
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Scale Potential: The 14 km mineralised corridor with extensive veining suggests significant exploration upside
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Strong Technical Foundation: The company has built a systematic understanding of the project through multiple exploration techniques
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Clear Path Forward: With permits in hand and drilling preparations advanced, near-term news flow is likely
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Regional Success Stories: The Deseado Massif region hosts multiple million-ounce gold deposits with similar geological characteristics
For investors seeking exposure to precious metals exploration in a tier-one jurisdiction, Piche's Cerro Chacon gold-silver project represents an emerging opportunity at a critical inflection point as it transitions from surface exploration to drill testing its most promising targets.
Ready to Invest in Argentina's Next Potential Gold-Silver Discovery?
Piche Resources' Cerro Chacon project represents an exciting opportunity for investors seeking exposure to precious metals exploration in a region known for world-class deposits. With drilling approvals secured and preparations well advanced, the company is poised to test multiple high-priority targets across its extensive 14 km mineralised corridor. To learn more about this emerging investment opportunity and stay updated on Piche's drilling progress, visit www.piche.com.au today.
