How Will NewPeak’s Full Control of Las Opeñas Shape Its 2026 Drilling Plans?
NewPeak Metals has secured 100% ownership of the Las Opeñas gold project in Argentina and plans drilling campaigns at both Las Opeñas and the Tansey gold project in Queensland, funded entirely from existing cash reserves.
- Acquisition of remaining 49% stake in Las Opeñas Metals S.A. for US$500,000
- Geological reinterpretation identifies rhyolitic dome and phreatic breccia complex as primary target
- Drilling applications for Las Opeñas planned for Q1/Q2 2026; Tansey drilling targeted for Q4 2025/Q1 2026
- Existing cash balance of A$3.8 million to fund acquisition and exploration activities
- Strategic stake retained in Lakes Blue Energy shares as potential future funding option
Full Ownership Secured at Las Opeñas
NewPeak Metals Limited has taken a decisive step in its exploration strategy by acquiring the remaining 49% interest in Las Opeñas Metals S.A., thereby gaining full ownership of the Las Opeñas gold exploration permits in Argentina’s San Juan Province. This acquisition, completed for US$500,000 in cash, consolidates NewPeak’s control over a project situated in a mining-friendly jurisdiction known for hosting significant gold deposits.
The move follows a detailed geological review led by Exploration Manager Alistair Grahame, whose extensive experience in South American mineral exploration has been pivotal. Grahame’s recent fieldwork reinterpreted the previously identified breccia zone as part of a rhyolitic dome and phreatic breccia complex, elevating its status as the company’s primary exploration target due to its potential for economic-scale mineralisation.
Geological Insights and Historical Context
The Las Opeñas project covers 1,462 hectares at approximately 3,000 meters elevation and lies along structural trends associated with major deposits like Barrick Gold’s Veladero and Pascua Lama. Historic drilling by previous operators, including Teck Resources and Genesis Minerals, recorded significant intercepts such as 115 meters grading 0.58 grams per tonne gold, alongside silver and base metals, confirming the presence of mineralisation within the breccia zone.
NewPeak’s reinterpretation distinguishes two mineralisation phases, a broad, silver-dominated phase pervasive in phreatic breccias, and a second phase featuring gold-silver-polymetallic mineralisation in discrete hydrothermal breccias that intensify with depth. This multi-phase epithermal system suggests a complex and potentially sizeable mineralising source yet to be fully delineated.
Upcoming Drilling and Exploration Plans
With the geological groundwork laid, NewPeak plans to submit its drilling application for Las Opeñas in October 2025, aiming to commence drilling in the first half of 2026. The proposed program will include selective relogging of historic drill core, detailed geological mapping, and a staged diamond drilling campaign designed to test the breccia zone at depth and target mineralised zones.
Simultaneously, NewPeak is advancing discussions with landholders at the Tansey gold project in Queensland, targeting a modest three-hole drilling program beneath the historic South Burnett Mine by late 2025 or early 2026. This initiative seeks to explore extensions of known mineralisation and complements the company’s broader exploration portfolio.
Financial Position and Strategic Outlook
Funding for both the acquisition and upcoming drilling campaigns will be sourced from NewPeak’s existing cash reserves of approximately A$3.8 million, bolstered by proceeds from the sale of Lakes Blue Energy shares. The company retains a strategic holding of 4.4 million shares in Lakes Blue Energy, providing optionality for future financing needs.
NewPeak’s Managing Director, Mark Purcell, highlighted the company’s strengthened position and sharpened focus, emphasizing the significance of San Juan Province’s mining reforms and investment attractiveness. The company’s methodical approach to exploration and funding underscores its commitment to advancing its flagship projects with a clear eye on delivering value to shareholders.
Bottom Line?
As NewPeak prepares to drill its fully owned Las Opeñas project and advance Tansey, the market will watch closely for results that could redefine its growth trajectory.
Questions in the middle?
- Will NewPeak’s drilling confirm the economic scale of mineralisation suggested by the reinterpretation?
- How quickly can regulatory approvals and landholder agreements be secured to maintain the planned drilling timeline?
- What impact will exploration results have on NewPeak’s valuation and potential partnerships or funding strategies?
