NewPeak Metals Completes 1,179m at Tansey, Plans 2,500m Drilling at Las Opeñas

Tansey Drilling Complete, Assay Results Awaited

NewPeak Metals Limited (ASX:NPM) has wrapped up a 1,179-metre diamond drilling campaign at its Tansey Gold Project in southeast Queensland. The drilling, conducted by subsidiary Goldstrike Mining, targeted high-grade epithermal gold mineralisation near the historic South Burnett Gold Mine, which was previously mined to a depth of around 80 metres in the 1940s but remains largely untested at depth. Core samples have been sent to ALS Brisbane for assay, with results expected imminently. The outcome of these assays will be crucial to assessing the project's potential for large-scale gold mineralisation.

Las Opeñas Drilling to Commence in April

Meanwhile, NewPeak is preparing to kick off a minimum 2,500-metre diamond drill program at its 100%-owned Las Opeñas Gold Project in Argentina’s San Juan Province. The project features a reinterpreted breccia zone, previously drilled to shallow depths, with historical intercepts such as 115 metres at 0.58 g/t gold from 18 metres down. The upcoming drilling aims to test deeper and broader zones within this rhyolitic complex, which hosts two mineralisation phases including silver-dominant and gold-silver-polymetallic breccias. Drilling is expected to start shortly, following the engagement of contractor Ecominera and completion of site preparations near Malimán De Abajo. This follows NewPeak’s earlier progress securing full ownership and environmental approvals for Las Opeñas, as detailed in a recent update on the company’s expanded exploration plans in 2026 NewPeak Metals Advances Tansey Drilling.

Lakes Blue Energy Stake and Production Testing

NewPeak also holds approximately 4.3 million shares in Lakes Blue Energy NL (ASX:LKO), which closed at $0.55 per share on 13 April 2026. Lakes is progressing production testing at its Wombat-5 gas well, which encountered multiple strong gas zones in a horizontal section of gas-saturated sands. Additional operations are planned to establish full gas flow, including an extended pressure build-up phase and a potential perforation program pending regulatory approval. NewPeak’s exposure to Lakes provides a potential upside from energy sector activity alongside its core gold exploration focus.

Uranium Projects Under Review

On the strategic front, NewPeak is evaluating options for its 100%-owned uranium projects at Treuer Range in the Northern Territory and George River in Quebec and Labrador, Canada. These options include introducing third parties or divesting the assets. The company has signalled no immediate drilling plans at the Cachi Gold Project in Argentina, prioritising resource allocation towards Las Opeñas in the near term.

Financial Position and Outlook

NewPeak closed the quarter with $1.4 million in cash and spent approximately $800,000 on exploration activities. Operating cash outflows remain steady, and the company continues to monitor its equity investments and cash reserves to fund ongoing operations. With assay results pending from Tansey and drilling poised to start at Las Opeñas, the coming months will be pivotal for NewPeak’s exploration narrative and potential value catalysts.