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...
$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...
Trading Halt

Trading Halt

Piche Resources (PR2:AU) has announced Trading HaltDownload the PDF here. Keep Reading...
Loyalist Exploration Samples 7.36 g/t Au and 31 g/t Ag in Preliminary Bedrock Sampling at Gold Rush Property, Timmins, Ontario

Loyalist Exploration Samples 7.36 g/t Au and 31 g/t Ag in Preliminary Bedrock Sampling at Gold Rush Property, Timmins, Ontario

Loyalist Exploration Limited (CSE:PNGC) (“Loyalist” or the “Company”) is pleased to announce that is has completed an initial bedrock sampling reconnaissance program at its Gold Rush Property (“the Property”), within the prolific Timmins mining district (Figure 1). The sampling program was... Keep Reading...
Stephen Soock, vice president of investor relations and development at Heliostar Metals.

Heliostar Eyes Gold Production to 300,000 Ounces by End of Decade

Heliostar Metals (TSXV:HSTR,OTCQX:HSTXF,FWB:RGG1) is on track to significantly ramp up its gold production, with plans to grow from 30,000 ounces to 300,000 ounces annually by the end of the decade. “Our strategy is powered by the fact that we are a producer, but we really are a development and... Keep Reading...
Three gold bars on price chart with magnifying glass.

What Was the Highest Price for Gold?

Gold has long been considered a store of wealth, and the price of gold often makes its biggest gains during turbulent times as investors look for cover in this safe-haven asset.The 21st century has so far been heavily marked by episodes of economic and sociopolitical upheaval. Uncertainty has... Keep Reading...
John Feneck, gold bars.

John Feneck: Gold, Silver, "Special Situations" — 7 Stocks to Play These Metals

John Feneck, portfolio manager and consultant at Feneck Consulting, shares his outlook for gold and silver prices and stocks. He also speaks "special situation" companies. "(There's) a change of behavior away from, 'Hey, we're never going to permit your mine.' To, 'Hey, we're really thinking... Keep Reading...
Stacks of US hundred-dollar bills scattered on a surface.

Perpetua Resources Secures US$255 Million Investment to Advance Idaho Project

Perpetua Resources (TSX:PPTA,NASDAQ:PPTA) announced a US$255 million strategic equity investment from Agnico Eagle Mines (TSX:AEM,NYSE:AEM) and JPMorganChase to accelerate development of its Stibnite gold project in central Idaho. Under the private placement, Agnico Eagle will invest US$180... Keep Reading...
Gold pan holding pieces of gold from creek placer deposit, with words '5 Top Canadian Mining Stocks This Week.'

Top 5 Canadian Mining Stocks This Week: Quarterback Resources Scores with 160 Percent Gain

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.Statistics Canada released October’s job numbers on Friday (November 7). The data showed a... 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