Pursuit Minerals goes deeper in Santa Cruz gold hunt

• Completed IP survey refines gold-silver targets across Sascha Marcelina in Argentina
• Eight priority diamond holes designed to test deeper mineralisation potential
• Another 20 follow-up holes planned across five prospective areas

Special Report: Pursuit Minerals is looking deeper for gold and silver in Argentina after a completed geophysical survey refined its drill targets at the Sascha Marcelina project in Santa Cruz.

The company has revised its initial diamond drilling program to eight priority holes totalling 3,350m, targeting potential high-grade gold-silver mineralisation beneath historical drilling and extensive surface alteration.

The program will cover the Sascha and Marcelina prospects, with the latest induced polarisation (IP) survey integrated into geological mapping, historical drilling and surface geochemistry.

The resulting model has helped Pursuit Minerals (ASX:PUR) identify areas where gold-silver mineralisation could be concentrated at depth, including interpreted epithermal boiling zones, extensions of known vein systems and concealed structures beneath silica alteration.

Four holes totalling 1,500m are planned at Sascha, while another four holes for 1,850m will target Marcelina.

Going deeper at Sascha

At Sascha, exploration has outlined an extensive northwest-southeast trending vein system stretching for approximately 5.5km.

Historical drilling has already intersected gold and silver mineralisation, although much of that work tested relatively shallow portions of the system.

Pursuit is now preparing to investigate the continuity and depth extent of several mapped veins, including areas beneath previous drilling.

One priority hole will step back around 120m from a historical hole to test the vein corridor at approximately 350m below surface.

Other holes will investigate mapped veins 31 and 26, including paired tests designed to provide a clearer picture of the structures at depth.

The company’s geological interpretation has also identified quartz textures associated with boiling hydrothermal fluids, a process that can contribute to gold and silver deposition in low-sulphidation epithermal systems.

These features have helped guide the placement of the planned drill holes.

“The opportunity at Sascha Marcelina is becoming increasingly compelling as we refine our understanding of the geological systems and importantly, where high-grade gold-silver mineralisation may be concentrated at depth,” said Pursuit Minerals managing director and CEO Aaron Revelle.

Marcelina’s hidden potential

At Marcelina, the completed IP survey has been incorporated into an updated 3D geological model alongside historical drilling, surface geochemistry and detailed geological mapping.

The work has defined a discrete modelled high-probability gold target at depth within the central system.

Pursuit’s interpretation suggests that the extensive surface silica alteration represents the upper expression of a hydrothermal system, with prospective mineralised structures potentially concealed below.

Historical drilling provides encouragement.

One previously reported hole returned 0.9m at 1.35g/t gold and 363.17g/t silver from 251.7m down hole, with true widths unknown.

The new drilling will investigate whether mineralisation continues into deeper and less-explored parts of the system.

Four planned holes will test the interpreted continuation of mapped vein 173, a fault structure associated with an IP chargeability response, and the central breccia corridor beneath historical drilling.

The work will also test whether the geophysical anomalies and structural interpretations correspond with additional gold-silver mineralisation.

A gold-silver district back in the spotlight

Sascha Marcelina sits within Argentina’s Deseado Massif, an established gold-silver province recognised for its epithermal mineral systems.

Argentina’s geological survey, SEGEMAR, identifies Cerro Negro as a producing gold-silver deposit associated with low-sulphidation epithermal mineralisation.

Research into the El Dorado-Monserrat mineral system elsewhere in the massif has also documented the relationship between boiling hydrothermal fluids, quartz replacement of bladed calcite and gold-silver deposition.

This provides useful geological context for Pursuit’s approach at Sascha, where comparable quartz textures have been used to help identify prospective drilling positions.

The presence of these features supports exploration targeting, although drilling and assays will be needed to establish the extent and grade of mineralisation at Pursuit’s prospects.

Exploration activity is also gathering momentum across the wider district.

In September, Santa Cruz’s Ministry of Energy and Mining identified 14 gold-silver projects undertaking active exploration in the Deseado Massif, including Sascha Marcelina.

The renewed regional activity provides a broader backdrop to Pursuit’s efforts to advance the project from geological interpretation towards drill testing.

Pursuit has been progressively refining its targets since earlier mapping identified five prospective exploration centres. Its previous exploration update outlined the district-scale opportunity, with the latest geophysical work providing a more detailed basis for the initial drilling campaign.

More targets waiting in the wings

Beyond the initial eight holes, Pursuit has designed another 20 holes totalling 7,150m.

These cover potential extensions at Sascha and Marcelina, along with targets at Estancia, Igloo and Valdivia-Brechón.

The follow-up holes will be prioritised using information obtained from the initial program, allowing the company to refine its understanding of the mineralised structures before committing to further tests.

“Our revised 3,350-metre diamond drilling programme is designed to test these targets across both priority prospects, moving beyond the shallow historical exploration and into areas where we believe the greatest discovery potential may lie,” Revelle said.

Preparations for drilling are progressing, with commencement dependent on rig mobilisation, contractor availability, seasonal weather conditions and safe site access.

Further IP surveys are also planned across the broader project area as conditions permit.

The upcoming campaign will provide Pursuit with its next opportunity to test whether the extensive hydrothermal systems identified through mapping and geophysics host significant gold-silver mineralisation at depth.

This article was developed in collaboration with Pursuit Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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