Piche Resources Flags Weak Early Grades at Argentina Gold Project but Continues Drilling

Piche Resources Limited ( (AU:PR2) ) has provided an update.

Piche Resources reported initial drilling results from the Chacon Grid prospect at its Cerro Chacon Gold Project in Argentina, where 43 reverse circulation holes totalling 4,880 metres have been completed and assays received for most of the early holes. The company said the results to date show predominantly low gold values with only narrow, weakly anomalous intervals, prompting a reassessment of the surface geochemical data and targeting criteria.

Despite the underwhelming grades encountered so far, management emphasised that Cerro Chacon still hosts a large, roughly 14-kilometre gold and pathfinder geochemical anomaly extending from Chacon Grid in the north to Toro Hosco in the south. Drilling continues at the La Javiela and Toro Hosco prospects, with the current program expected to conclude by early April, and outcomes from this work are likely to influence future exploration strategy and investor expectations around the project’s potential scale and grade profile.

The most recent analyst rating on (AU:PR2) stock is a Sell with a A$0.07 price target. To see the full list of analyst forecasts on Piche Resources Limited stock, see the AU:PR2 Stock Forecast page.

More about Piche Resources Limited

Piche Resources Limited is an Australian-listed exploration company focused on gold projects, with key activities currently centred on the Cerro Chacon Gold Project in Argentina. The company targets large-scale gold and pathfinder geochemical anomalies, leveraging reverse circulation drilling and surface geochemical and geophysical datasets to define mineralisation corridors.

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Technical Sentiment Signal: Sell

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