NewPeak Metals Ltd (ASX:NPM, OTC:NPMFF, FRA:NPM) last week outlined upcoming drilling at its Las Opeñas Gold Project in Argentina, alongside multiple near-term catalysts across its exploration portfolio, in a discussion with Proactive.
Managing director Mark Purcell said the company is preparing to commence drilling within weeks at the 100%-owned Las Opeñas project in San Juan Province, a region recognised as one of South America’s premier gold districts. He noted that the project sits along the same structural trends as major deposits, including Barrick and Shandong’s Veladero Mine and Pascua-Lama.
Purcell stated that the initial program would target a large breccia zone mapped at surface, measuring დაახლოებით 800 by 600 metres, with the aim of identifying a significant gold system at depth. He commented that the company was “really just looking for a large-scale gold deposit,” highlighting the scale potential of the target.
The company is also encouraged by historical intercepts, including 115 metres at 0.6 grams per tonne gold, which Purcell said warrant further testing to confirm continuity and scale. He added that the project benefits from favourable geology, being located on a major structural boundary with multiple mineralising phases evident.
Beyond Argentina, NewPeak Metals is awaiting assay results from its Tansey Gold Project in south-east Queensland. The company recently completed करीब 1,200 metres of diamond drilling targeting extensions of a historic underground gold mine. Purcell said these results, expected in April, could represent “an opportunity for us to prove up an entirely different gold deposit.”
Looking ahead, the company has outlined a steady pipeline of news flow, including initial drilling updates from Las Opeñas expected between May and June, followed by assay results from the Argentine campaign in July and August.
Key highlights
- NewPeak Metals is set to begin drilling at the Las Opeñas Gold Project in Argentina within weeks.
- The project is in San Juan Province, regarded as a highly attractive mining jurisdiction.
- Las Opeñas sits on the same structural trends as major gold deposits including Veladero Mine and Pascua-Lama.
- The company is targeting a large-scale gold discovery, supported by surface mapping and historical intercepts.
- Mark Purcell highlighted an intercept of 115 metres at 0.6 g/t gold as one of the results the company wants to test further at depth.
- Drill camp construction is well advanced, with drilling expected to begin later this month.
- At the Tansey Gold Project in south-east Queensland, NewPeak Metals has completed about 1,200 metres of diamond drilling.
- Assay results from Tansey are expected in mid to late April.
- Near-term catalysts include:
- Tansey assay results in mid to late April
- Las Opeñas drilling progress update in May to June
- First Las Opeñas assay results in July to August
Proactive: NewPeak Metals will start drilling later this month at its 100% owned Las Opeñas gold project in San Juan Province of Argentina, one of South America’s premium gold districts. Here with me to discuss the upcoming program is NewPeak Metals Managing director Mark Purcell. Mark, good to see you.
Mark Purcell: Likewise, Jonathan. Looking forward to speaking with you.
Proactive: You’ve had a busy start to 2026 and drilling will start shortly. Can you talk us through the program, what you’re expecting to see in the ground, and what you’re looking for?
Mark Purcell: At Las Opeñas, we’re looking to start drilling in the next two weeks. The drill camp is being built and most of the work is done, so we’re super excited. It’s a big breccia area mapped at surface at about 800 by 600 metres. There are some exciting intercepts there, and to answer your question, we’re really just looking for a large-scale gold deposit. We’re in the neighbourhood of the Veladero Mine, owned by Barrick and Shandong, so something not too dissimilar to that would be fantastic.
Proactive: Let’s talk more about the proximity. Can you elaborate on who’s around you and what’s there?
Mark Purcell: Absolutely. We’re in San Juan Province in Argentina. We’re fortunate to be on a major structural boundary and can see multiple geologic phases. There are long intercepts like 115 metres at 0.6 grams gold, for example, that we want to test at depth to try and prove the scale. We’re certainly in the right geological neighbourhood, and San Juan Province is a fantastic jurisdiction. It actually outranked all Australian jurisdictions in the 2024 Fraser Institute rankings.
Proactive: Good place to be. And also in Australia—you’re expecting assays soon. Talk us through what’s going on at Tansey.
Mark Purcell: We completed nearly 1,200 metres of diamond drilling at the Tansey project in south-east Queensland earlier this year. That drilling targeted an historic underground gold mine that was abandoned during World War Two. The assay results are pending and currently in the lab in Brisbane. We’re excited because that’s an opportunity for us to prove up an entirely different gold deposit.
Proactive: Let’s round this up—what’s coming next and when should investors expect news?
Mark Purcell: We’ve got results coming later this month. We’re starting drilling at Las Opeñas in the next few weeks, so this month as well. And finally, we’ve got listed equities, including Blue Energy shares, which are their own right opportunities. So three excellent opportunities for NewPeak Metals to turn a corner.
Proactive: Plenty to look forward to. Thanks for your time today.
Mark Purcell: Thanks, Jonathan.
