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


Keep reading...Show less

Targeting globally significant uranium and gold discoveries in Australia and Argentina

Auric Mining (ASX:AWJ)

Munda Gold Mine - Purchase of Mine Camp, Nickel Rights and Water Assets from WIN Metals

Auric Mining Limited (ASX: AWJ) (Auric or the Company) together with WIN Metals Ltd (ASX: WIN) (WIN Metals or WIN) are pleased to announce that the two parties have successfully agreed to the purchase of a package of WIN assets including all nickel and associated minerals rights, water access rights and a fully equipped mining camp all relating to Auric’s Munda Gold Mine.

Keep reading...Show less
Equity Metals

Equity Metals

Keep reading...Show less
Two people shaking hands in office with city skyline view.

Zijin Mining to Acquire Major Kazakh Gold Mine for US$1.2 Billion

China’s Zijin Mining Group (OTC Pink:ZIJMF,HKEX:2899,SHA:601899), the country’s largest producer of gold and copper, has agreed to acquire Kazakhstan’s Raygorodok gold mine for US$1.2 billion.

The deal, announced on Monday (June 30) through a filing to the Hong Kong Stock Exchange, furthers the company’s ambition of becoming one of the world’s top three gold producers by 2028.

Raygorodok is reportedly among the largest and most technologically advanced gold projects in Central Asia. It produced 6 metric tons of gold in 2024 at a production cost of US$796 per ounce, excluding non-cash items.

Keep reading...Show less
Map of Mali with red pin marking a location.

Mali Completes Takeover of Abandoned Gold Mines, Extends Push for Resource Sovereignty

Mali’s military-led government has completed its takeover of the Yatela and Morila gold mines.

Reuters reported on Monday (June 30) that according to the Malian government, control of the Yatela mine in Western Kayes and the Morila mine in Southern Sikasso has officially been transferred to the Society for Research and Exploitation of Mineral Resources of Mali (SEMOS), a newly formed entity in the country.

The Yatela mine was abandoned in 2016 by Sadiola Exploration Company — a joint venture between South Africa’s AngloGold Ashanti (NYSE:AU,JSE:ANG) and Canada’s IAMGOLD (TSX:IMG,NYSE:IAG) — after the operators deemed continued production uneconomic despite leftover reserves.

Keep reading...Show less
Piche Resources

Piche Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×