Piche traces 2km Jose Vein in expanding Cerro Chacón gold-silver system

Cerro Chacón footprint expands across new vein structures

Piche Resources Limited (ASX:PR2) has identified a 2 km epithermal vein and 19 previously unrecognised vein or vein-breccia structures during a major surface exploration campaign at its Cerro Chacón Gold-Silver Project in Patagonia, Argentina. The programme produced individual rock-chip results of up to 10.41 g/t gold at Toro Hosco East and 553.42 g/t silver at Toro Hosco Central.

The company collected 603 samples across about 9.6 square kilometres between May and September 2026, targeting the corridor between La Javiela and Toro Hosco and the possible western extension of Toro Hosco. The work adds surface evidence to the system outlined by maiden Toro Hosco drilling, which intersected gold-silver mineralisation in all nine holes drilled at that prospect.

Jose Vein supports westward extension of Toro Hosco

At Toro Hosco West, mapping traced the newly identified Jose Vein for at least 2 km. The northwest-southeast structure reaches widths of up to 6 metres, averaging 2.5 metres, and displays epithermal quartz textures with hematite and jarosite after leached sulphides. Samples from the vein returned up to 0.50 g/t gold and 67.2 g/t silver, while separate structures to the east returned up to 0.74 g/t gold.

Other results broaden the geological picture. La Javiela South contains seven mapped structures ranging from 300 metres to 1,000 metres in strike length, while Toro Hosco Central contains ten structures, including two extending for approximately 1,600 metres and 960 metres. The company interprets the differing vein orientations at Toro Hosco Central as a structurally controlled stockwork zone.

Surface grades point to a deeper exploration target

Piche says gold, silver, lead, molybdenum and arsenic values generally increase toward the southern part of the surveyed corridor, while mercury and barium are more elevated in the north. The company interprets those patterns as consistent with a transition from the upper levels of a low-sulphidation epithermal system at La Javiela to a deeper, more eroded level at Toro Hosco.

That interpretation matters because the headline assays are surface rock-chip results, not drill intersections or resource estimates. Sample lengths do not necessarily represent true vein widths, the sampling was reconnaissance in nature, and Piche says exploration remains incomplete. The company also cites the possibility that weathering in Patagonia may have leached gold from exposed veins and remobilised it deeper, meaning surface gold values may not fully reflect mineralisation below the oxidation profile.

Drilling decision arrives alongside portfolio review

Next steps may include further mapping and sampling, a magnetic survey to identify possible feeder structures and reverse-circulation drilling to test gold and silver continuity along strike and at depth at Toro Hosco. None of those programmes has been confirmed in the announcement, leaving the next exploration phase dependent on the company’s data integration and geological interpretation.

The technical update also lands as Dahrouge portfolio review and a search for a new chief executive continue. Dahrouge Geological Consultants is providing independent technical and geological input on Piche’s existing assets and potential new opportunities, while the board considers the project mix and the company’s next phase of growth. For Cerro Chacón, the immediate test is whether the attractive surface architecture can be converted into coherent mineralisation in the subsurface.