NewPeak Metals Uncovers Large-Scale Gold-Zinc-Silver System at Las Opeñas

Polymetallic Discovery Confirms Large-Scale Mineralised System

NewPeak Metals Limited (ASX:NPM) has delivered a strong start to its 2026 drilling campaign at the Las Opeñas Gold Project in Argentina, unveiling a large-scale gold-zinc-silver system from its first drill hole. The diamond drill hole 26-LODH-023 returned an impressive 663 metres at 0.41 grams per tonne gold equivalent (AuEq), including intervals with higher grades such as 84 metres at 0.72g/t AuEq and 282 metres at 0.65g/t AuEq starting near surface. Zinc and silver credits are particularly noteworthy, both metals recently added to the US Geological Survey’s critical minerals list, underscoring the strategic importance of this polymetallic system.

Continuity with Historic Drilling Supports Resource Potential

The discovery hole was drilled just 5 metres from a 2012 Genesis Minerals hole that intercepted 115 metres at 0.58g/t Au, 0.65% Zn and 3.5g/t Ag, providing early validation of the scale and continuity of mineralisation. NewPeak’s Managing Director Mark Purcell highlighted the significance of uncovering such a substantial system from surface, noting the encouraging presence of zinc and silver credits which enhance the project’s economics and strategic positioning.

Las Opeñas is situated within the prolific El Indio Belt, a renowned gold district hosting major operations such as Barrick/Shandong’s Veladero Mine nearby. The project’s location within a mining-friendly province under the Milei government’s RIGI framework further bolsters its appeal amid growing capital interest in Argentina’s mineral resources.

Geological Setting and Drill Program Details

The mineralisation at Las Opeñas is hosted within an 800m by 600m breccia zone, interpreted as part of a rhyolitic complex with phreatic breccias and strong argillic alteration. The polymetallic style is classified as low-sulphidation epithermal, with two mineralisation phases identified: an early gold-dominant phase associated with hydrothermal veinlets and a later disseminated silver-zinc phase pervasive throughout the breccias.

The first hole traversed a volcanoclastic sequence transitioning into dacitic dome material and granodiorite country rock, cut by phreatic and hydrothermal breccias. Mineralisation is widespread, with disseminated iron and zinc sulphides correlating with hydrothermal alteration and vein density.

Next Steps and Market Implications

NewPeak has completed a total of six holes in its initial 2,464-metre 2026 program, with assay results from the remaining five holes expected within three to six weeks. Assuming these results are consistent with the discovery hole, the company is well positioned to advance towards declaring a maiden gold-zinc-silver resource.

Permitting is in place to extend drilling by up to 7,500 metres, allowing NewPeak to rapidly continue testing the extent of this mineralised system pending supplier availability. With a current market capitalisation of approximately A$4.9 million, the project offers an attractive entry point into a strategically important polymetallic deposit in a supportive jurisdiction.

While metallurgical recoveries are currently assumed based on analogous deposits pending further testing, the combination of gold with critical minerals zinc and silver adds a compelling dimension to the project’s potential value. The market will be watching closely as assay results from the remaining holes emerge, potentially reshaping NewPeak’s resource profile and development trajectory.