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NewPeak Metals Ltd. ( (AU:NPM) ) has issued an announcement.
NewPeak Metals reported solid quarterly field activity, highlighted by completion of 1,179 metres of diamond drilling at its Tansey Gold Project in southeast Queensland, where it is testing for high-grade, large-scale gold mineralisation adjacent to the historic South Burnett underground mine. Core from four diamond holes has been sent to a Brisbane laboratory, with assay results due later in April, and the company held about $1.4 million in cash at the end of March.
The explorer is also gearing up for a minimum 2,500-metre diamond drill program at its 100%-owned Las Opeñas project in San Juan, Argentina, targeting a large reinterpreted breccia zone with encouraging historical intercepts and geological indicators of a gold-dominant polymetallic system. Contractor Ecominera has been engaged, camp construction and access works are nearly complete near Malimán De Abajo, and drilling is scheduled to commence this month, marking a potentially important phase for NewPeak’s growth and resource definition prospects.
More about NewPeak Metals Ltd.
NewPeak Metals Ltd. is an exploration-focused resources company targeting high-grade gold mineralisation, primarily through its 100%-owned projects in Australia and Argentina. The company is advancing early-stage drilling and evaluation programs aimed at large-scale epithermal and breccia-hosted gold systems near historic and existing mining operations.
Average Trading Volume: 821,613
Technical Sentiment Signal: Sell
Current Market Cap: A$6.25M
For an in-depth examination of NPM stock, go to TipRanks’ Overview page.