PUR to drill silver-gold project in Argentina in “early 2026”
Our exploration Investment Pursuit Minerals (ASX: PUR) just finalised a drilling plan for its silver-gold project 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, $165BN capped Newmont owned, Cerro Negro was discovered…
PUR’s project has “one of only three known silica caps” in this part of Argentina - so it will be interesting to see what drilling produces from that target:
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Today, PUR locked in its drilling plant for a 4,050m program expected to begin early next year.
The two main targets for the program will be Sacha Marcelina (where the silica cap theory) is and the Sacha Main prospect (where there is historical drilling results).
Here is an image of the Marcelina target - we put it side by side with the Cerro Negro silica cap just for reference:
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And here is an image showing the two (including “Sacha Main”, which has high grade historical intercepts of up to 9.2g/t gold equivalent).
The proposed drillholes (in green) across the two targets:
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Across the two targets we want to see holes drilled at depth - which is what PUR’s whole exploration model is based around (the idea that the higher grade mineralisation is at depth - like at 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 closing in on the commencement of the drilling program with preparatory works well advanced and the drill contractor selection nearly confirmed.
So we await for an update on this for more detail on the upcoming details of the drilling program including a start date.
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