Ronin Resources Halts La Punilla Work as New Samples Miss Earlier Peaks
Key Takeaways
- Final assay results from 21 rock-chip samples at La Punilla returned peak values of 0.13 g/t Au, 2.41 g/t Ag, 91.6 ppm Cu and 840 ppm W — all materially below previously reported maximums of up to 3.04 g/t Au and 13.75 g/t Ag.
- The highest silver and copper values in the programme (4.84 g/t Ag, 181 ppm Cu) came from a float sample collected outside the Project tenement area and are not considered representative of La Punilla mineralisation.
- No further exploration work is currently anticipated at La Punilla; the Board will conduct a thorough review of all exploration data before determining next steps.
- Ronin holds $2.75 million in cash as at 30 June 2026 and is actively pursuing value-accretive acquisition opportunities across its 100%-owned project portfolio.
- Advancing the La Punilla magnetic anomaly to drill-ready status would require ground geophysical surveys and significant additional capital — a commitment the Board is not currently prepared to make.
Ronin Resources completes La Punilla sampling as focus shifts to strategic review
Ronin Resources has received final laboratory results for 21 rock-chip samples from its April–May 2026 follow-up programme at the 100%-owned La Punilla Project in San Juan Province, Argentina. Results from within the Project area returned peak values below previously reported maximums, and the Board will now conduct a thorough review of all exploration data to determine next steps. The Company holds $2.75 million in cash as at 30 June 2026 and continues to search for value-accretive acquisition opportunities.
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What the results showed
The recent sampling programme returned peak assay results within the Project area of 0.13 g/t Au, 2.41 g/t Ag, 91.6 ppm Cu and 840 ppm W. The highest silver and copper values (4.84 g/t Ag and 181 ppm Cu, sample 001083) came from a float sample collected outside the Project area and are not considered representative of the Project. These results are lower than previously reported maximums of up to 3.04 g/t Au, 13.75 g/t Ag, 1,055 ppm Cu and 2,110 ppm W from the 4 May 2026 announcement.
| Element | This programme (within Project) | Previously reported peak | Outside-Project float (001083) |
|---|---|---|---|
| Au | 0.13 g/t | 3.04 g/t | <0.005 g/t |
| Ag | 2.41 g/t | 13.75 g/t | 4.84 g/t |
| Cu | 91.6 ppm | 1,055 ppm | 181 ppm |
| W | 840 ppm | 2,110 ppm | 0.2 ppm |
The float sample that returned the highest silver and copper values was collected outside the Project tenement application area from a quartz-sulphide vein boulder in granodiorite and is not representative of mineralisation within the Project itself.
Understanding reconnaissance geochemistry
Rock-chip geochemical sampling is a low-cost, early-stage exploration tool that allows explorers to ground-truth satellite spectral and magnetic anomalies before committing capital to expensive drilling programmes. Ronin’s sampling targeted satellite (Sentinel-2 MTMF) spectral targets 1, 3, 5 and 6, a fault zone east of Target 6, and the area overlying a magnetic source identified by drone aeromagnetic survey beneath the Quebrada Palca colour anomaly. The magnetic source measures approximately 1 km x 500 m but field checks showed no significant hydrothermal alteration or magnetic lithologies at surface, indicating any source is at depth.
The programme specifics:
- Conducted by consultant geologists Colin Brodie and Hannes Lippke, supported by three field assistants
- Samples prepared at ALS Mendoza and analysed by fire assay (Au-AA24) and four-acid multi-element ICP-MS (ME-MS61)
- Quality control comprised certified reference materials (OREAS 20a, OREAS 30a, MRCA-21) and laboratory duplicates; duplicate precision was acceptable
What this means for investors: surface sampling acts as a filter. Determining whether anomalism at Quebrada Palca persists at depth would require ground geophysical surveys (IP/resistivity) and, ultimately, drill testing, a much larger capital commitment. This context explains why the Board is pausing to review all data rather than advancing directly to the next stage.
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What happens next
The Company considers surface mapping and sampling completed to date sufficient for its current assessment, and no further exploration work is currently anticipated at La Punilla. The Board intends to conduct a thorough review of all exploration data to determine next steps at the project. Concurrently, the Board intends to continue searching for value-accretive acquisition opportunities to generate shareholder value, backed by its $2.75 million cash position as at 30 June 2026.
Board Position
The Board intends to conduct a thorough review of all exploration data to determine next steps at the project and to continue to search for value-accretive acquisition opportunities to generate shareholder value.
Ronin’s capital position:
- Cash at bank (30 June 2026): $2.75 million
- Securities on issue: 40,375,010 ordinary shares; 3,550,000 options ($0.25, expiring 26 November 2026)
- Projects: La Punilla (Argentina) and Vetas (Colombia), both 100% owned
The investment case centres on disciplined capital management and optionality. Ronin is not chasing sunk costs at a project where surface results came in below initial peaks. Instead, the Company retains a strong cash position and is actively pursuing new opportunities that may deliver better shareholder returns.
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