NewPeak Metals Advances Tansey Drilling, Eyes Las Opeñas Start in Early 2026

Drilling Progress at Tansey Gold Project

NewPeak Metals Limited has kicked off diamond drilling at its wholly owned Tansey Gold Project in southeast Queensland, with 400 metres completed out of a planned 1,200 metres as of late January 2026. The program targets high-grade, large-scale gold mineralisation adjacent to the historic South Burnett Gold Mine, which was mined to a depth of around 80 metres in the 1940s but remains largely untested at depth. The company is optimistic that this drilling will reveal significant extensions of gold mineralisation beneath the old workings.

Las Opeñas Project Acquisition and Approvals

In Argentina’s San Juan Province, NewPeak has completed the acquisition of the remaining 49% interest in the Las Opeñas Gold Project, consolidating 100% ownership. The project features a large breccia zone with promising historical intercepts, including a notable 115 metres at 0.58 grams per tonne gold from shallow depths. The company recently secured a critical environmental approval, the Declaración de Impacto Ambiental, enabling it to lodge further permits and prepare for drilling in the first half of 2026. This deeper drilling aims to test broader zones of mineralisation within a rhyolitic complex, potentially unlocking a polymetallic breccia system with gold dominance.

Financial Position and Exploration Spending

NewPeak ended the quarter with $2.49 million in cash and holds approximately 4.4 million shares in Lakes Blue Energy NL, which closed at $1.45 per share on 29 January 2026. The company invested $307,000 in exploration activities during the quarter and spent $778,000 (US$500,000) to finalize the Las Opeñas acquisition. The current cash position supports ongoing drilling programs and near-term exploration plans, with an estimated funding runway of nearly four quarters based on current expenditure levels.

Other Projects and Strategic Considerations

While the Cachi Gold Project in Santa Cruz Province, Argentina, remains promising with its polymetallic mineralisation style, NewPeak has deprioritised exploration there in favour of focusing on Las Opeñas. Meanwhile, the company is reviewing options for its 100% owned uranium projects at Treuer Range in the Northern Territory and George River in Canada, including potential third-party involvement or divestment. No exploration activity was reported for these projects during the quarter.

Outlook

With drilling underway at Tansey and approvals progressing for Las Opeñas, NewPeak Metals is positioning itself for a potentially transformative year in 2026. The company’s ability to convert exploration targets into resource definitions will be closely watched by investors, alongside developments in its uranium portfolio and the performance of its Lakes Blue Energy shareholding.