PR2 - Piche Resources

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Piche Resources is a junior exploration company, with the Company focussing on exploring for uranium, precious metals and other critical metals mineralisation in Western Australia and Argentina.

The Company's Australian assets comprise seven granted exploration licences in Western Australia, covering four projects – Ashburton, Gascoyne-Minindi, Abydos and Beasley Creek. The Group's principal Argentinian assets cover two projects – Sierra Cuadrada and Cerro Chacon – currently comprising 10 recently granted mining concessions and 18 applications for mining concessions.

The Company's strategy has been to build a portfolio of potentially large-scale, high value projects and then fast track exploration and development. The Company's short term strategy is to complete three significant exploration and drilling campaigns on the Ashburton uranium project in Western Australia, and at Sierra Cuadrada uranium and Cerro Chacon gold projects in Argentina. Within these project areas the Company has identified areas where it will shortly commence its exploration activities. Based on work undertaken to date (and as further described in the Independent Geologist's Report), the Company considers that each of those projects has the potential to host significant uranium (Ashburton / Sierra Cuadrada) and gold (Cerro Chacon) mineralisation.

It is anticipated that PR2 will list on the ASX on 31 May 2024.

Piche Resources Limited | Green Energy, EV, Rare & Precious Metals Explorer

piche.com.au

 

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Listing date	31 May 2024 #
Company contact details	https://piche.com.au/ Ph: 61 401 248 048
Principal Activities	Mineral exploration
Issue Price	AUD 0.20
Issue Type	Ordinary Fully Paid Shares
Security code	PR2
Capital to be Raised	$10,000,000
Expected offer close date	17 May 2024
Underwriter	Not underwritten. Euroz Hartleys (Lead Manager)

 

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now slated to list on 21 June

 

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listing happened, and taking on water

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Overview:
• Significant advances on its three priority projects.
• All projects have been advanced to drilling phase on completion of recent technical studies.
• Flagship projects continue to yield exciting geochemical, geophysical and geotechnical results, highlighting the world-class potential of all three projects.

Cerro Chacon (Argentina):
• Completion of extensive geophysical and geochemical sampling programmes have identified multiple target areas, reinforcing the potential for significant gold-silver mineralisation.
• The epithermal vein system has been confirmed using signature pathfinder element analysis over a strike length exceeding 10km and remains open to the north and south.
• Extensive initial programme planned at Cerro Chacon with over 5000m of reverse circulation (RC) drilling planned with depths ranging from 140m to 290m.

Sierra Cuadrada (Argentina):
• Auger drilling highlighted extensive areas of near surface uranium mineralisation.
• 1,000 broad spaced shallow auger holes have been completed over an area of 145km2.
• 20% of these holes have defined a 64km2 zone of visible uranium mineralisation.
• Recently gained surface land access to the highest priority project tenements with plans to mobilise an RC rig in the first semester of 2025 to further test extensions and tenure of the mineralisation.

Ashburton (W.A.):
• 2024 drilling programme was completed during December with a further 12 drill holes for an advance of 748m of reverse circulation drilling and 1,306.8m of diamond drilling.
• Significant equivalent U3O8 concentrations from the December Quarterhave been calculated from downhole gamma surveys
• Data from the drilling programme is undergoing geological modelling to determine the 2025 field programme.