What's Happening?
Australian Critical Minerals (ACM) has obtained the final drill permit for the northern concession of its Flint gold-silver project in Peru. This approval allows ACM to commence drilling operations targeting
Natural Source Audio-Frequency Magnetotelluric (NSAMT) resistivity anomalies. The drill pads are strategically positioned over the core NSAMT resistive zone, which is believed to be the core of a high-sulfidation gold-silver system. The Flint project is located within a significant epithermal gold-silver belt, known for producing over 40 million ounces of gold. ACM plans to conduct up to ten diamond drill-holes as an initial test of the identified system. Preparations for drilling are underway, with environmental approvals and private property access agreements in progress for the southern half of the project.
Why It's Important?
The acquisition of the final drill permit is a critical step for ACM, as it enables the company to advance its exploration efforts in one of the world's largest epithermal gold-silver belts. This development could potentially lead to significant discoveries, enhancing ACM's portfolio and contributing to the global supply of gold and silver. The project also highlights the strategic importance of Peru as a major player in the mining industry, attracting international investment and expertise. Successful exploration and subsequent extraction could have economic benefits for both ACM and the local economy, potentially creating jobs and boosting local infrastructure.
What's Next?
ACM will proceed with the drilling operations, focusing on the identified resistive zones. The company plans to finalize 3D inversion modeling to determine the optimal drill collar orientation and targeting. As the survey progresses, ACM will adjust drill platform positions and finalize the drill program planning. The company is also working on obtaining a separate drilling permit for the southern half of the property. The results of the drilling could provide valuable insights into the subsurface geometry of the high-sulfidation system, potentially leading to further exploration and development opportunities.
