Piche Resources (ASX: PIC) has reported significant advancements in its core exploration projects during the March 2025 quarter, according to its latest activities report. The company is focused on gold, silver, and uranium prospects across Argentina and Australia. At the Cerro Chacon gold-silver project in Argentina, extensive mapping and geochemical sampling have identified multiple new target areas. The mineralized corridor now extends over 14km, with rock chip samples yielding high-grade results, including 11.65 g/t Au and 120.3 g/t Ag at Toro Hosco, and 333.65 g/t Ag, 9.48% Pb, and 8.52% Zn at La Javiela South. An 8,000-meter reverse circulation drilling program is planned to commence early in the second quarter of 2025, following EIA approvals.
At the Ashburton uranium project in Western Australia, check chemical assay results have confirmed and upgraded previously reported high-grade intersections based on downhole gamma probe values. Notable intersections include 7m @ 8,733ppm U3O8, with a high-grade core of 4m @ 14,985 ppm U3O8. Higher grade intersections showed up to 50% increase in grade compared to the gamma probe results. Geological reinterpretation has identified a talus flow unit at the Lower/Mid Proterozoic unconformity, providing a widespread zone of increased permeability for uranium minerals. Future drilling is planned to extend the mineralization.
Exploration at the Sierra Cuadrada uranium project in Argentina has included geological mapping, stratigraphic surveys, and rock chip sampling across 66.5 km². Significant rock chip sampling results include up to 8,146 ppm U3O8. A new mineralized zone covering at least 10 km² has been discovered. The Exploration Environmental Impact Assessment Report (EIA) has been approved, allowing for ground-disturbing activities, including RC drilling and trenching. As of March 31, 2025, Piche Resources held A$5.8 million in cash. Exploration expenditures for the quarter totaled A$285,460, primarily related to geophysical and technical surveys at the Argentina projects. Planned administration costs remain consistent with statements made in the IPO prospectus.