NewPeak Metals Eyes Higher Gold Grades as Phase 2 Drill Program Targets Western Zone
Key Takeaways
- Phase 2 diamond drilling at NewPeak Metals' 100%-owned Las Opeñas Gold Project is scheduled to commence mid-October 2026, with a rig secured and permitting already in place.
- Phase 1 delivered two discovery intercepts exceeding 650 metres each from surface — LODH-023 at 663m @ 0.42g/t AuEq and LODH-027 at 657m @ 0.30g/t AuEq — establishing Las Opeñas as a large-scale mineralised system.
- Gold grades increased progressively westward across Phase 1 holes, pointing toward the Belleza Breccia volcanic centre as the likely location of a higher-grade gold core that remains untested.
- The minimum 1,000-metre Phase 2 program is fully funded from the recently completed placement, with the option to add drill metres based on core observations and rig availability.
- Las Opeñas sits 70km from Barrick's Veladero Mine and 110km from Hualilan Mine in San Juan Province, Argentina — a jurisdiction with demonstrated large-scale gold mining history.
Phase 2 drilling targets gold-dominant western zone at Las Opeñas
NewPeak Metals has announced that Phase 2 diamond drilling at its 100% owned Las Opeñas Gold Project in San Juan Province, Argentina is scheduled to commence mid-October 2026, with a drill rig now secured and permitting already in place. The program is designed to test for higher gold grades to the west of the Phase 1 discovery holes, targeting an area interpreted to trend toward the Belleza Breccia volcanic centre.
The minimum 1,000m diamond drilling program is fully funded from proceeds of the recently completed placement. Phase 2 was initially planned as a targeted program to chase the westward gold grade trend, with the option to add drill metres depending on core observations, rig availability, and funding.
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Phase 1 results that led here — the discovery intercepts
Phase 1 drilling, completed earlier in 2026, confirmed the presence of large-scale mineralisation at Las Opeñas and produced the intercepts now driving Phase 2 targeting. The two key discovery holes were:
LODH-023: 663m @ 0.42g/t AuEq (incl. 0.16g/t Au, 0.65% Zn, 4.53g/t Ag, 0.10% Pb) from surface, including:
- 84m @ 0.72g/t AuEq (incl. 0.50g/t Au) from 20m
- 283m @ 0.67g/t AuEq (incl. 0.34g/t Au) from 7m
- 465m @ 0.50g/t AuEq from surface
LODH-027: 657m @ 0.30g/t AuEq (incl. 0.10g/t Au, 0.51% Zn, 3.14g/t Ag, 0.14% Pb) from surface, including:
- 117m @ 0.60g/t AuEq (incl. 0.32g/t Au) from 77m
- 284m @ 0.40g/t AuEq from 77m
A key observation from Phase 1 is that gold grades are interpreted to increase westward across the two westernmost holes. That spatial trend is the central geological rationale for where Phase 2 is pointed.
| Hole ID | Total Intercept (m) | AuEq Grade (g/t) | Au Grade (g/t) | Key Subinterval Highlight |
|---|---|---|---|---|
| LODH-023 | 663m from surface | 0.42g/t | 0.16g/t | 84m @ 0.72g/t AuEq (incl. 0.50g/t Au) from 20m |
| LODH-027 | 657m from surface | 0.30g/t | 0.10g/t | 117m @ 0.60g/t AuEq (incl. 0.32g/t Au) from 77m |
Managing Director Mark Purcell framed the Phase 2 rationale directly:
Mark Purcell, Managing Director
“Phase 1 drilling at Las Opeñas confirmed the discovery of a genuinely large-scale mineralised system and, importantly, gave us a clear vector for where to drill next. Gold grades are increasing westerly in the two western-most holes and geological work supports the interpretation that a higher-gold-grade core of the system may sit west of recent holes, closer to the Belleza Breccia volcanic centre. Phase 2 is designed to test that thesis directly. With the team now preparing for mobilisation, permitting already in place and the program funded from the recent placement, we are well positioned to build on both the momentum of phase 1 and on the already large-scale discovery at Las Opeñas.”
What is a volcanic breccia system — and why does it matter here?
To understand why the western target zone is significant, it helps to know what a phreatomagmatic breccia is. In simple terms, it is a volcanic vent or conduit formed when rising magma interacts explosively with groundwater. These structures are geologically important because they act as natural plumbing systems: mineralising fluids, carrying gold and other metals, travel upward and outward through the fractured rock, depositing metals as they cool and decompress.
The critical point for investors is that grades in these systems often increase as you move closer to the heat source — the volcanic centre where the fluids originated. The further out you drill from that core, the more diluted the mineralisation typically becomes.
At Las Opeñas, the Belleza Breccia is interpreted as the likely source of the mineralising fluid system. Phase 1 drilling tested areas to the east of this structure. The consistent westward increase in gold grades across Phase 1 holes, moving progressively toward the Belleza Breccia, supports the interpretation that the higher-grade core of the system remains untested. The announcement notes that mineralisation remains open in multiple directions, predominantly to the west-southwest, heading up a significant gully through the felsic dome complex of the Belleza Breccia.
Figures 1 and 2 in the announcement include geological maps and a 3D terrain diagram illustrating the interpreted mineral distribution, target zones, and the relationship between recent drilling and the western Belleza Breccia target. These visuals show how the gold-rich core remains open up the valley to the southwest.
If Phase 2 drilling confirms higher-grade gold mineralisation closer to the Belleza Breccia, it would represent a material upgrade to the Las Opeñas discovery narrative — from a large-scale, moderate-grade system to one with a demonstrably higher-grade core.
Location context — a proven Argentine gold belt
Las Opeñas sits within a well-established mining jurisdiction. The project is located approximately 70km southeast of Barrick/Shandong’s Veladero Mine and approximately 110km north-northwest of Challenger Gold’s Hualilan Mine, both within San Juan Province, Argentina. The regional context places Las Opeñas in a corridor with demonstrated large-scale gold mining history.
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What comes next — Phase 2 milestones to watch
The near-term newsflow from Las Opeñas is structured around a clear sequence of steps. Investors should monitor the following:
- Detailed relogging and geochemical interrogation of Phase 1 core data — ongoing in parallel with Phase 2 preparations
- Phase 2 hole locations being refined from Phase 1 data analysis
- Drill rig secured — mobilisation preparations underway
- Phase 2 drilling scheduled to commence mid-October 2026
- Option to add drill metres based on core observations, rig availability, and funding
The mineralised system at Las Opeñas remains open in multiple directions. Phase 2 is funded and imminent, targeting the part of the system that Phase 1 geological work identified as most likely to carry a higher-grade gold core. Positive results from Phase 2 would add a new dimension to what Phase 1 already established as a large-scale discovery.
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