PUR completes acquisition of silver-gold project in Argentina

Our exploration Investment Pursuit Minerals (ASX: PUR) just completed the acquisition of its silver-gold asset in Argentina.

PUR’s project sits in the Santa Cruz province of Argentina which hosts ~30 million ounces of gold equivalent in discoveries - Including the 8M ounce Cerro Negro project.

Cerro Negro sits ~100km to the north of PUR’s ground:

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The ultimate success case for PUR would be a discovery that resembles Cerro Negro (we would take something even 1/4 the size).

PUR’s theory is that if it drills down to 150-400m it could make a giant gold discovery that was previously missed because of the shallower silica cap that sits on top of the gold mineralisation.

This is exactly how the 8 million ounce, $151BN capped Newmont owned, Cerro Negro was discovered… PUR has again referenced this working theory today:

(Source)

Here are the target areas already defined on the project:

(Source)

There have been multiple high grade shoots already located from historical drilling, so PUR will be aiming to confirm this and drill deeper below the silica cap aiming to locate gold under this zone.

Here is a cross section of the Sascha zone where PUR is aiming to drill much deeper than prior drilling, this contains high grade samples at surface and narrow high grades in prior drilling.

The theory being that there could be thicker mineralisation under the silica cap like Newmont’s Cerro Negro:

(Source)

Check out our deep dive on the asset from when PUR first announced the acquisition here: PUR: Acquires Gold Project in Argentina - Gold price smashing records

What’s next for PUR?

🔲Drilling commencement at silver-gold project

PUR confirmed that it was moving close to a drilling program with works being finalised and the drill contractor selection process underway.

So we await for an update on this for more detail on the upcoming details of the drilling program including a start date.