Piche’s Drilling Approvals and High-Grade Assays Signal Critical Growth Phase Ahead

Exploration Momentum Builds at Cerro Chacon

Piche Resources Limited has made notable strides in its flagship Cerro Chacon gold project during the March 2025 quarter. Extensive vein and breccia mapping combined with geochemical sampling have expanded the mineralised corridor to over 14 kilometres, with the system remaining open to the north and south. High-grade rock chip assays, including 11.65 g/t gold and 120.3 g/t silver at Toro Hosco, and remarkable silver and base metal values at La Javiela South, underscore the project's potential.

These results are underpinned by detailed geophysical surveys and pathfinder element analyses that confirm an epithermal vein system controlled by multiple structural orientations. The company is poised to commence a maiden reverse circulation drilling program early in the second quarter of 2025, targeting up to 8,000 metres across the Chacon Grid, La Javiela, and Toro Hosco prospects. Environmental approvals for Chacon South have been secured, with Chacon Middle approval anticipated imminently, clearing the path for ground-disturbing activities.

Ashburton Uranium Project Validates and Enhances Grade Estimates

At the Ashburton uranium project in Western Australia, Piche has received chemical assay results from its 2024 reverse circulation drilling campaign that not only validate but upgrade previously reported uranium grades derived from downhole gamma probing. Notably, drill hole ARC006 returned 7 metres at 8,733 ppm U3O8, including a high-grade core of 4 metres at 14,985 ppm U3O8, representing a significant increase over gamma probe estimates.

The reinterpretation of geological data has identified a talus flow unit at the Lower/Mid Proterozoic unconformity, which appears to provide enhanced permeability and chemical conditions favorable for uranium mineral precipitation. This structural insight, combined with the recognition of W/NW trending basement structures as fluid conduits, sets a robust framework for further drilling aimed at extending mineralisation.

Sierra Cuadrada Uncovers New Uranium Zones Amidst Expanding Exploration

Exploration at the Sierra Cuadrada uranium project in Argentina has yielded significant uranium assay results from geological mapping, radiometric surveys, and auger drilling across 66.5 km². High-grade rock chip samples include values as high as 8,146 ppm U3O8, with new mineralised zones discovered on the Mamuny I and II tenements covering at least 10 km² and remaining open.

The company has completed an auger drilling phase with 36 holes and secured Environmental Impact Assessment approval, enabling reverse circulation drilling and trenching. Access agreements for priority target areas have been finalized, positioning Piche to accelerate exploration in early 2025.

Financial Position and Outlook

As of 31 March 2025, Piche Resources holds A$5.8 million in cash, with exploration expenditures of approximately A$285,460 during the quarter, primarily directed towards geophysical and technical surveys in Argentina. The company confirms that its use of funds remains consistent with its IPO prospectus, with no substantive mining production or development activities undertaken during the period.

Looking ahead, Piche’s strategic focus will be on advancing drilling programs at Cerro Chacon and Ashburton, while expanding exploration at Sierra Cuadrada. The integration of geological, geochemical, and geophysical data continues to refine target prioritization, underpinning the company’s growth ambitions in both gold and uranium sectors.