Piche Resources Limited (ASX:PR2) has released an update on its drilling program at the Cerro Chacón Gold Project in Argentina. Piche Resources is focused on the exploration and development of strategic metal assets, particularly those related to the electric vehicle and energy storage sectors. The company’s current drilling phase has concentrated on the Chacon Grid prospect, completing 43 reverse circulation drill holes, totaling 4,880 metres.
Assay results have been received for drill holes CGRC001 to CGRC030, along with partial results for CGRC031. The results from the Chacon Grid drilling program have predominantly returned low gold values, with the majority of assay results at or below detection limits. Limited, narrow intervals of weakly anomalous mineralisation have been identified, with a maximum reported value of 1m @ 0.40 g/t Au in hole CGRC11 from 25 metres downhole in a weakly brecciated basalt.
In light of the current drilling results, which have not replicated the higher-grade gold values returned in the surface sampling, the company has commenced a review of the surface geochemical datasets, targeting criteria that underpinned the program and the drilling. The Cerro Chacon project remains characterised by a large-scale gold and pathfinder geochemical anomaly, supported by previous surface sampling and geophysical datasets.
Drilling is ongoing at the La Javiela prospect and Toro Hosco, with the program expected to be completed by early April. The company will provide further updates as they become available.
