Piche Resources

Quarterly Activities Report for the Period Ending 30 September 2024

Piche Resources Limited (ASX: PR2) (“Piche” or the “Company”), holds an extensive tenement portfolio in Australia and Argentina with the focus being uranium and gold. In Western Australia, the Company has commenced drilling on its Proterozoic unconformity style uranium project, whilst in Argentina, field programmes are well underway on the Sierra Cuadrada sandstone hosted uranium project and the Cerro Chacon low sulphidation epithermal gold project (Figure 1).


Key Highlights

  • Reverse Circulation drilling commenced on the Ashburton Proterozoic unconformity uranium project in Western Australia. 7 drill holes were completed in the September Quarter for a total advance of 1028m.
  • Equivalent U3O8 concentrations from this phase of Ashburton reverse circulation drilling have been calculated from downhole gamma surveys, and include:
    • ARC001 6.98m @ 1,617 ppm eU3O8 from 101.84 meters
    • ARC002 4.36m @ 2,205 ppm eU3O8 from 109.89 meters
    • ARC003 3.96m @ 1,516 ppm eU3O8 from 86.89 meters
    • ARC004 6.02m @ 801 ppm eU3O8 from 83.55 meters
    • ARC006 3.45m @ 5,129 ppm eU3O8 from 137.62 meters incl 0.34m @ 16,050 ppm eU3O8 from 139.11 meters
    • ARC007 1.30m @ 503ppm eU3O8 from 123.37 meters
  • Drilling on the Ashburton Project is ongoing with RC and Diamond drilling during the December Quarter
  • Two geophysical surveys (IP and magnetics) have been completed at Cerro Chacon in Argentina and the Company is awaiting the final interpretation.
  • Auger drilling at Sierra Cuadrada highlights extensive areas of near surface uranium mineralisation: the largest being 6km long and 3km wide and remains open.
  • Mineralisation varies in thickness from 0.5m to 4m, with an average thickness 1.5m.
  • Multiple areas are being evaluated to identifying priority areas for follow up trenching, mapping and determination.
  • An additional 39 tenement applications for uranium exploration have been lodged in Argentina totalling 1785km2. Tenements are located in the provinces of Rio Negro and Chubut. Tenements are prospective for sandstone hosted uranium mineralisation and include both hard rock and in-situ recovery targets.
  • The Company has established an experienced in country team with the appointment of country manager, project managers and geologists for both gold and uranium.

Figure 1: Locality maps highlighting Piche’s Australian Projects in Western Australia and its Argentinean

Australia – Uranium - Ashburton Project

A reverse circulation drilling programme commenced on the Ashburton uranium project during the September Quarter. A total of 7 drill holes were completed during the quarter for a total advance of 1028m. The reverse circulation drilling is ongoing, and a diamond drilling programme will also commence early in the December Quarter.

The September Quarter drilling programme was undertaken at, and along strike of the Angelo A prospect where no exploration activities have been carried out in the last 40 years. The drilling programme was planned to confirm the results from previous exploration by drilling several twin holes, to test a revised model for the control of the uranium mineralisation and explore for extensions to the mineralisation identified between 1973 and 1984.

Results from the first seven reverse circulation drill holes completed have been received and six of those have returned significant high grade uranium mineralisation.

Drilling is targeting Proterozoic unconformity style uranium mineralisation, similar to that seen in two of the most significant uranium jurisdictions in the world: the Pine Creek Geosyncline in Australia and the Athabasca Basin in Canada.

Drilling was preceded by a detailed heritage clearance survey.


Click here for the full ASX Release

This article includes content from Piche Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

PR2:AU
Piche Resources

Piche Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Piche Resources

Piche Resources

Targeting globally significant uranium and gold discoveries in Australia and Argentina

Targeting globally significant uranium and gold discoveries in Australia and Argentina Keep Reading...
Commences Maiden RC Drilling at Cerro Chacon Gold Project

Commences Maiden RC Drilling at Cerro Chacon Gold Project

Piche Resources (PR2:AU) has announced Commences Maiden RC Drilling at Cerro Chacon Gold ProjectDownload the PDF here. Keep Reading...
$2million placement to advance Argentine exploration

$2million placement to advance Argentine exploration

Piche Resources (PR2:AU) has announced $2million placement to advance Argentine explorationDownload the PDF here. Keep Reading...
Reinstatement to Quotation

Reinstatement to Quotation

Piche Resources (PR2:AU) has announced Reinstatement to QuotationDownload the PDF here. Keep Reading...
Quarterly Appendix 5B Cash Flow Report

Quarterly Appendix 5B Cash Flow Report

Piche Resources (PR2:AU) has announced Quarterly Appendix 5B Cash Flow ReportDownload the PDF here. Keep Reading...
Quarterly Activities Report

Quarterly Activities Report

Piche Resources (PR2:AU) has announced Quarterly Activities ReportDownload the PDF here. Keep Reading...
Gold nuggets with text: "5 Top Australian Mining Stocks This Week."

Top 5 Australian Mining Stocks This Week: African Gold Shines on Acquisition by Montage

Welcome to the Investing News Network's weekly round-up of the top-performing mining stocks listed on the ASX, starting with news in Australia's resource sector.Gold, rare earths, metals and iron ore are all in this week’s list, with each company’s share climbing on either M&A news or project... Keep Reading...
Frank Holmes, gold bars.

Frank Holmes: Next Gold, Silver Price Calls, Plus Top 2026 Asset

Frank Holmes of US Global Investors (NASDAQ:GROW) shares his forecast for gold and silver.He sees gold testing US$5,000 per ounce next year and then reaching US$7,000 by the end of US President Donald Trump's second term in office. "And I think that silver will be over US$100," he added.Don't... Keep Reading...
PDAC 2026

Registration opens for PDAC 2026: The World’s Premier Mineral Exploration & Mining Convention

The Prospectors & Developers Association of Canada (PDAC) is pleased to announce that registration is now open for PDAC 2026, taking place March 1-4, 2026, at the Metro Toronto Convention Centre in Toronto. The world’s leading gathering for mineral exploration and mining will once again unite... Keep Reading...
Metals One

Placement to Institutional and Sophisticated Investors, Appointment of Joint Broker,Issue of Equity & TVR

Metals One (AIM: MET1, OTCQB: MTOPF), a critical and precious metals exploration and development company, is pleased to announce it has successfully raised gross proceeds of £4.4 million (before expenses) through a placing of new ordinary shares with institutional and sophisticated investors... Keep Reading...
Electronic display showing gold prices with upward trend indicators.

Gold’s Next Test: WGC Warns 2026 Could Make or Break Bullion

Investors should brace for what could be a make-or-break year for gold: according to the latest 2026 outlook by the World Gold Council (WGC).After a blistering 2025 that saw gold hit more than 50 all-time highs and rise over 60 percent, the WGC says 2026 could deliver anything from a modest... Keep Reading...
Blocks forming "2026" on cash and gold bars background.

Gold Price Forecast: Top Trends for Gold in 2026

Gold has reached once-unthinkable prices in 2025, gaining over 60 percent by early December. Looking ahead to 2026, experts believe the major themes that carried the gold price to new heights this year will continue to underwrite its trajectory in the months ahead, boosting the metal even... Keep Reading...
Piche Resources

Piche Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News