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Piche Resources Limited (ASX: PR2) (“Piche” or the “Company”) is pleased to announce drilling results from a further eight holes at its Ashburton uranium project in Western Australia. Results to date highlight the potential for both high grade and broad zones of uranium mineralisation.
HIGHLIGHTS
- ADD003 has delivered the widest intersection recorded to date with a 39m intersection immediately above the Proterozoic unconformity.
- Equivalent U3O8 concentration from recent drillholes include:
ADD003 39.28m @ 553 ppm eU3O8 from 124.12m
incl 1.28m @ 1,460 ppm eU3O8 from 125.46m
and 0.84m @ 1,184 ppm eU3O8 from 151.54m
and 2.42m @ 2,681 ppm eU3O8 from 155.10m
and 1.90m @ 2,215 ppm eU3O8 from 161.40m
ARC008 3.86m @ 720 ppm eU3O8 from 137.36m
ARCD005 6.50m @ 639 ppm eU3O8 from 115.23m
incl 3.02m @ 930 ppm eU3O8 from 115.23m
ADD005 10.48m @ 1412 ppm eU3O8 from 114.30m
incl 2.04m @ 3508 ppm eU3O8 from 115.72m and 0.50m @ 2911 ppm eU3O8 from 119.28m
4.08m @ 2075 ppm eU3O8 from 141.94m
incl 2.04m @ 2875 ppm eU3O8 from 142.10m
1.04m @ 1918 ppm eU3O8 from 145.80m
1.04m @ 1103 ppm eU3O8 from 148.44m
- Analyses of the drill core has
- demonstrated a northwest structural control on mineralisation
- mineralisation along the unconformity and
- within the overlying sandstone and the basement.
The combined reverse circulation and diamond drilling programme has exceeded the Company’s expectations, having met its original aims of confirming historical results, testing the potential northwest structural control of mineralisation, and expanding the known uranium mineralised envelope.
Results from the drilling are included in Table 1 with the drill hole details in Table 2. In total, 1,776m of reverse circulation drilling and 1,147m of diamond drilling have been completed for a total of 18 holes.
Drilling at Angelo A has confirmed the continuity of mineralisation, identified a steeply dipping mineralised structure and highlighted the undulating nature of the Proterozoic unconformity (Figure 1). A potential northwest trending structure containing uranium mineralisation was intersected between ARC004 and ARC006.
Evidence of a mineralised northwest oriented structure was encountered in ADD001, located over 1km to the northwest of Angelo A. Structural logging of this hole highlighted a shallow dipping (35 degrees) mineralised structural trending to the northwest.
The drilling programme has also confirmed historical drill results from over 40 years ago.
Figure 1: Simplified Long Section C’ of Angelo A highlighting the flat lying nature of uranium mineralisation, with steeply dipping structures between ARC004 and ARC006.
Diamond drill hole ADD003 identified 39.28 metres of uranium mineralisation (Figure 2), highlighting the potential to expand the area of mineralisation at both the Angelo A & B prospects, and along strike to the northwest and southeast.
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Piche Resources
Investor Insight
With high-quality, drill-ready assets with world-class discovery potential, Piche Resources is a compelling business case for investors looking to leverage a bull market for uranium and gold.
Overview
Piche Resources (ASX:PR2) is an ASX-listed mineral exploration company focused on uranium and gold exploration in Tier-1 jurisdictions: Western Australia and Argentina. The company holds 100 percent ownership of all of its projects and is supported by a highly experienced board and technical team.
Targeting globally significant discoveries in Tier-1 mineral provinces
Piche’s portfolio includes the advanced-stage Ashburton uranium project in Western Australia and two large-scale exploration projects in Argentina: the Cerro Chacon gold-silver project and the Sierra Cuadrada uranium project. These projects have delivered high-grade exploration results and are drill-ready, positioning the company to unlock significant shareholder value through systematic exploration programmes.
Piche has an internationally recognized board focused on creating long-term shareholder value, and an in-country technical team in Argentina with a proven track record of taking projects from discovery through to development.
Company Highlights
- Flagship Ashburton uranium project in Western Australia with recent high-grade drilling results over wide intercepts.
- Sierra Cuadrada uranium project in Argentina showing extensive near-surface mineralisation with assays up to 2.86 percent U₃O₈.
- Cerro Chacon gold-silver project with high-grade surface results (up to 11.65 g/t gold and 333.7 g/t silver) across a 14 km mineralised corridor.
- Fully permitted and EIA-approved for drilling at Cerro Chacon (Chacon South and Middle).
- Large, 100-percent-owned tenement package across all projects (Ashburton: 335 sq km; Cerro Chacon: 414 sq km; Sierra Cuadrada: 1,310 km²).
- Board of directors includes former leaders of Peninsula Energy, Orano, Rio Tinto Uranium and Barrick Gold.
- Upcoming drill campaigns planned at Cerro Chacon and Ashburton to test multiple high-priority targets.
- Well positioned for growth in the context of a strengthening uranium and gold price environment.
Key Projects
Gold: Cerro Chacon, Argentina
Cerro Chacon interpreted geology and tenement holding
Cerro Chacon is a large-scale, early-stage gold-silver exploration project located in the Chubut Province of Argentina. The project is situated within a region known for hosting world-class low-sulphidation epithermal systems, including Cerro Negro and Cerro Vanguardia. With multiple gold-bearing structures confirmed over a 14 km corridor, Cerro Chacon is emerging as a highly promising and underexplored precious metals system with substantial scale and grade potential.
Project Highlights
Location: ~40 km southwest of Paso de Indios, Chubut Province
Tenure: 414 sq km across multiple tenements
Highlights:
- A 14 km-long mineralised corridor has been delineated across Chacon Grid, La Javiela and Toro Hosco prospects.
- High-grade geochemical results include:
- 11.65 g/t gold and 120.3 g/t silver at Toro Hosco
- 333.7 g/t silver, 9.48 percent lead, and 8.57 percent zinc at La Javiela South
- Maiden RC drilling programme of 57 holes (7,905 m) scheduled across three main targets:
- Chacon Grid: 45 holes (5,590 m)
- La Javiela: 8 holes (1,740 m)
- Toro Hosco: 4 holes (575 m)
- EIA approvals for Chacon South and Chacon Middle were received in May 2025, enabling drilling to proceed.
- Vein systems range from 2 to 6 km in strike length and up to 50 m in width; hosted within structurally controlled low-sulphidation epithermal veins (LSEV).
Uranium: Ashburton Project, Australia
The Ashburton project is Piche’s flagship uranium exploration asset in Australia, situated in the Pilbara region of Western Australia. Located within a historically underexplored but highly prospective unconformity-related uranium district, the project provides the company with strong leverage to the growing global demand for uranium. The project is geologically analogous to world-class Proterozoic uranium systems, with multiple confirmed mineralised zones and a regional corridor of 60 km.
Project Highlights
- Location: Pilbara region, ~1,150 km north of Perth
- Tenure: 335 sq km following the recent application for tenement E52/4461 (214 sq km), adding to the existing 122 sq km holdings.
- Highlights:
- 2024 RC and diamond drilling confirmed high-grade uranium mineralisation at multiple stratigraphic levels.
- Best intercepts include:
- 3.45 m @ 5,129 ppm eU₃O₈ from 137.62 m (ARC006)
- 10.48 m @ 1,412 ppm eU₃O₈ from 114.30 m (ADD005)
- 2.42 m @ 2,681 ppm eU₃O₈ from 155.10 m (ADD003).
- 7.86 m @ 2,266 ppm eU₃O₈ from 105.42 m (ADD006)
- The company has outlined a 60 km structural corridor hosting multiple uranium occurrences including Angelo A & B, Canyon Creek, Ristretto and Atlantis.
- Atlantis prospect: historical drilling returned up to 7,400 ppm U₃O₈ over 2.2 m; rock chip samples have returned up to 37 percent U₃O₈.
Uranium: Sierra Cuadrada, Argentina
Sierra Cuadrada is Piche’s primary uranium asset in Argentina, covering a vast area within the San Jorge Basin. This large-scale project has demonstrated strong surface uranium mineralisation with multiple drill-ready prospects. With mineralisation confirmed across extensive zones and supported by historical radiometric and geochemical data, Sierra Cuadrada has the potential to host multiple Tier-1 uranium deposits in a cost-effective, near-surface setting.
Teo 5 and 6 prospect 2024 auger drill programme
Project Highlights:
Location: San Jorge Basin, ~200 km north of Comodoro Rivadavia
Tenure: 1,310 sq km across multiple licences
Highlights:
- The project area contains broad, flat-lying mineralisation at multiple stratigraphic levels.
- High-grade uranium assays include:
- 28,650 ppm U₃O₈ (2.86 percent) from rock chip sampling at Teo 8
- 24,017 ppm U₃O₈ from channel sampling
- 2,772 ppm U₃O₈ over 0.5m from auger drill sample
- Mineralised zones extend over a strike of 60 sq km, with confirmed targets on the majority of tenements.
- 2024 auger drilling and sampling confirmed uranium continuity across a sandstone and conglomerate sedimentary package with 14 samples exceeding 200 ppm U₃O₈.
- Rock chip sampling has returned 114 samples >200ppm U₃O₈
- RC drilling is planned to follow up on anomalies identified in the auger and channel sampling programmes.
Management Team
John (Gus) Simpson – Executive Chairman
John Simpson has over 37 years of experience in mineral exploration, development and mining. Previously the executive chairman and founder of Peninsula Energy Limited (ASX:PEN), a USA uranium producer.
Stephen Mann – Managing Director
Stephen Mann is a geologist with over 40 years of experience in exploration, discovery and development of mining projects, including 20 years in the uranium sector. Formerly the Australian managing director of Orano, the world’s third-largest uranium producer.
Pablo Marcet –Executive Director
Pablo Marcet is a senior geoscientist with 38 years of experience in exploration, discovery and development of mineral deposits. Currently an independent director of lithium producer Arcadium Lithium (NYSE:ALTM) and previously a director of Barrick Gold (NYSE:GOLD) and U3O8 (TSX:UWE).
Clark Beyer – Non-executive Director
Clark Beyer is an internationally recognized nuclear industry executive with over 35 years of experience. Formerly the managing director of Rio Tinto Uranium and currently principal of Global Fuel Solutions, providing strategic consulting to the international uranium and nuclear fuels market.
Stanley Macdonald – Non-executive Director
Stanley Macdonald is a nationally recognized mining entrepreneur, founding director and instrumental in the success of numerous ASX-listed companies, such as Giralia Resources, Northern Star and Redhill Iron. He is currently a director of Zenith Minerals.
Targeting globally significant uranium and gold discoveries in Australia and Argentina
Sranan Gold: Unlocking Suriname’s Next Multi-Million-Ounce Discovery in the Guiana Shield
Sranan Gold (CSE:SRAN,FSE:P84) is a junior exploration company focused on Suriname, a South American country that produces over 600,000 ounces of gold annually. The company’s flagship project is located in the highly prospective Guiana Shield, one of the world’s most underexplored and gold-rich geological regions.
Sranan’s 29,000-hectare Tapanahony gold project sits atop a historic mining belt with strong geochemical and structural markers. Leveraging local knowledge, legacy drill data, and modern exploration tools, the company aims to define its first gold resource along a 4.5 km mineralized corridor.
Backed by the discovery team behind Suriname’s major deposits—Merian, Rosebel, and Saramacca—Sranan is targeting hard-rock gold beneath saprolite zones, with plans to accelerate drilling, grow its land position, and deepen community ties.
Company Highlights
- District-scale land position: The 29,000-hectare Tapanahony project covers one of Suriname’s oldest and most productive artisanal mining districts, offering untested hard-rock upside within the Guiana Shield, home to numerous multi-million-ounce gold deposits.
- Immediate drill targets: A 10,000-metre diamond drilling program is set to kick off in 2025 across the 4.5 km Poeketi-Randy trend, targeting high-grade shear zones validated by historic IAMGOLD drilling.
- World-class discovery pedigree: The technical team has led or co-led discoveries at Merian (7 Moz, Newmont), Rosebel (13.7 Moz, now Zijin) and Saramacca (1.5 Moz).
- Deep in-country knowledge: Geologists are locally trained at Anton de Kom University and have decades of experience in Suriname’s regolith-dominated terrain.
This Sranan Gold profile is part of a paid investor education campaign.*
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Quimbaya Gold
Investor Insight
Quimbaya Gold’s strategic focus on Colombia offers a compelling opportunity for gold exploration in a prolific, brownfield region supported by a favorable permitting environment. The upside potential is worthy of examination by any savvy investor.
Overview
Quimbaya Gold (CSE:QIM,OTCQB:QIMGF,FSE:K05) is a junior gold exploration company focused on its high-grade gold projects in Colombia. The company’s portfolio spans 59,057 hectares across three highly prospective regions in the Antioquia mining district. This region is responsible for approximately 50 percent of Colombia’s total gold production, equivalent to around 1 million ounces (Moz) annually.
Positioned right next to Aris Mining’s (TSX:ARIS) Segovia mine, Quimbaya leverages its proximity to established infrastructure and gold-rich geological formations. With Colombia being one of the most underexplored yet top mining jurisdictions in South America, Quimbaya’s projects are uniquely poised for significant discoveries.
Quimbaya’s projects benefit from Colombia’s favorable permitting environment, enabling faster transitions from discovery to production, compared to its global peers. Quimbaya’s strategy focuses on value creation through new discoveries and monetizing them via strategic transactions, including joint ventures and operational contracts.
Quimbaya has established a significant partnership with Independence Drilling, Colombia’s largest drilling company with over 40 years of experience. The agreement secures 100,000 meters of drilling over five years, with Independence. The first service order for the initial 4,000-meter drilling campaign has been completed.
The company’s management team brings extensive and deep expertise in exploration in Colombia, corporate finance and project development. Quimbaya trades on multiple exchanges: CSE (QIM), OTCQB (QIMGF), and FSE (K05).
Company Highlights
- Quimbaya Gold controls 59,057 hectares across three distinct projects in Antioquia, Colombia — renowned as the country's top mining department, accounting for over half of Colombia’s gold production.
- The flagship Tahami project is adjacent and on trend to Aris Mining’s Segovia mine, one of the highest-grade gold mines globally. Tahami benefits from its strategic proximity to Segovia and its potential for discovery of high-grade vein gold systems.
- Quimbaya has entered into a partnership with Independence Drilling, Colombia’s largest drilling company, which secures an extremely cost-effective 100,000 meters of drilling over five years. The first service order has concluded for an initial first 4,000-meter drilling campaign.
- Quimbaya utilizes software that allows for rapid and cost-effective acquisition of mining claims, giving the company a competitive edge in securing high-value assets.
- Quimbaya has signed a letter of intent with Denarius Metals to form a 50/50 joint venture to formalize small-scale mining at Quimbaya’s Tahami Project.
- The technical team’s proven track record of major discoveries in Colombia positions Quimbaya as a standout explorer in the region.
- Fully funded into 2026 for multi-project advancement in Colombia after closing $4 million financing
Key Projects
Tahami Project (Flagship)
The Tahami project is located in Segovia, Antioquia, adjacent to Aris Mining’s Segovia mine, one of the highest-grade gold mines in the world. Spanning 17,087 hectares, Tahami’s geology features mesothermal veins with multiple mineralization events underlain by Precambrian metamorphic rocks consolidated within the San Lucas Gneiss unit.
Quimbaya’s exploration plan for Tahami involves leveraging advanced geochemical and geophysical surveys to generate drill targets. These efforts will be complemented by modern 3D geological modelling and an initial drilling campaign to test high-grade zones. The integration of historical data and cutting-edge technology positions Tahami as a prime asset for discovery.
Maitamac Project
Located in Abejorral, Antioquia, 80 kilometers south of Medellín, the Maitamac project spans 33,223 hectares and offers excellent road access. This emerging gold metallogenic district features mesothermal veins and potential porphyry gold-copper systems.
Initial surface rock samples have reported gold grades of up to 3.2 g/t, with stream sediments revealing over 1 g/t gold. Identified as a promising district by the Colombian Geological Services, Maitamac is positioned alongside the past producing ABE project and structural corridor which has produced mined shoots averaging 26 g/t gold.
Berrio
Berrio is strategically positioned in the Low Magdalena Region of Antioquia, Colombia, spanning 8,746 hectares within a prolific mining district with over 50 years of continuous medium-scale gold production. The region’s well-established infrastructure and active mining ecosystem significantly reduce development risk.
Berrio hosts mesothermal gold systems with gold-bearing quartz veins, breccias, and stockwork structures – typical of high-grade deposits.
Management Team
Alexandre P. Boivin - CEO and Director
Alexandre Boivin is an entrepreneur with more than 10 years of experience in corporate finance and Colombian mining. Through his extensive experience in the mining industry, corporate finance, capital markets and business development, Boivin has been instrumental in managing and funding early-stage companies through a network of partners and investors immersed in the capital markets. Under his leadership, Quimbaya Gold has secured significant investments to advance its exploration projects. His commitment to the company's growth is further demonstrated by his substantial shareholding in Quimbaya Gold.
Olivier Berthiaume - CFO and Director
Olivier Berthiaume is an accountant with over 12 years of experience working with early-stage companies in the Canadian markets. He holds a Bachelor of Business Administration from HEC Montreal and specializes in private-to-public market transactions, compliance, corporate governance, and corporate growth strategies. Berthiaume has held various director and officer positions in junior mining companies.
Ricardo Sierra – Vice-president of Exploration
Ricardo Sierra is a professional economic geologist with over 18 years of exploration experience across Colombia, Chile, Cuba, and Brazil, focused on orogenic, mesothermal, porphyry, epithermal, and stratabound deposits. He began his career with Anglo American, leading greenfield and brownfield exploration, including diamond drilling in Colombia.
Sierra refined his expertise in vein systems as exploration superintendent at Continental Gold (now Zijin Mining Group), working on the Buriticá deposit and regional programs across Chocó, Nariño, Cauca, and Antioquia. He holds a geology degree from Universidad de Caldas (2007), is a Qualified Person under NI 43-101, a Competent Person with Colombia’s CCRR, and a member of the Australian Institute of Mining and Metallurgy (MAusIMM).
Sebastian Wahl - Director
Sebastian Wahl brings over 15 years of experience in the mining industry, with a strong focus on precious metals trading, capital markets, and corporate development. Wahl has played a pivotal role in shaping Quimbaya Gold’s strategic direction and elevating its external positioning during a critical growth phase.
Dr. Stewart Redwood - Senior Technical Advisor
Stewart Redwood is a distinguished geological consultant with more than 40 years of experience in mineral exploration and economic geology, specializing in epithermal, porphyry and skarn deposits, particularly in Latin America and the Caribbean. His notable achievements include significant discoveries, including the San Cristobal silver-zinc deposit in Bolivia, the Romero gold-copper deposit in the Dominican Republic, and the Antamina copper-zinc project in Peru, recognized as the world's largest copper skarn deposit. Throughout his career, Redwood has held key positions in prominent mining and exploration companies, including as chief geologist Latin America for AngloGold Ashanti, founder president and CEO of GoldQuest Mining, and VP exploration of Colombia Goldfields (which merged with Gran Colombia Gold). He has been instrumental in the success of Gran Colombia Gold’s Marmato project (now owned by Aris Mining), currently an 8.8 Moz deposit in the construction stage.
Nicolas Lopez Villegas - Technical Advisor
A Colombian native, with over 28 years of experience focused in the mining district of Antioquia, currently the CEO of MINING BRAIN SAS, Nicolas Lopez, leads this consulting company advising on the implementation, development of sustainable mining projects all over Colombia. Prior to the establishment of his consultancy practice, Lopez spent 12 years as Colombia & Nicaragua's country manager for IAMGOLD, having devoted the previous 10 years with MINEROS SA as head of exploration & geology. Villegas played a pivotal role in major discoveries, including the first porphyry copper-gold deposit in the Colombian middle Cauca belt, known as Titiribi. a significantly rich gold-copper geological region. As a seasoned executive in gold exploration, Villegas holds a geology degree from Universidad de Caldas (Colombia), a Governance in Oil & Mining degree from Oxford University (UK) and he is a Qualified Person (QP).
Terence Ortslan - Advisor
Terence Ortslan is a seasoned resource executive with over 40 years of experience, having served in advisory capacities across the mining, metals, and fertilizer sectors. He provides guidance on investment and technical aspects of the industry, as well as strategic and policy advice tailored to mining companies. Additionally, Ortslan advises financial institutions on investment decisions, offers direction to international industry organizations, and consults with governments on fiscal and industrial regulations. He also supports universities in enhancing their educational standards and assists corporations with decision-making, boardroom leadership, shareholder value enhancement, and strengthening ES parameters. Ortslan holds a Bachelor of Engineering & Applied Geophysics and an MBA from McGill University.
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