Patriot finds high-grade silver and base metal signs at new Elvira target near Tassa in Peru

Patriot Resources has reported promising surface assays from a newly identified mineralised zone at its Pachamayo target in southern Peru, roughly two kilometres northeast of the company’s existing Tassa resource.

First-pass work at the Elvira sector identified an opaline silica breccia about 120 metres long by 20 metres wide, with the strongest rock chip returning 27.7 g/t silver, 3000 parts per million lead and 2550 ppm arsenic.

The initial programme covered 65 hectares and comprised 38 surface rock samples. Other notable results included a breccia sample with 17.6 g/t silver and elevated pathfinder elements such as 111 ppm antimony and 36 ppm bismuth, while surrounding altered volcanic tuffaceous rocks produced assays up to 1130 ppm zinc with 343 ppm molybdenum, and 1695 ppm lead with 246 ppm molybdenum.

Patriot’s management describes the mix of silver, lead, zinc and the arsenic-antimony-bismuth-molybdenum suite as typical of an epithermal system, and says the presence of opaline silica at surface is significant because it commonly forms at the top of such systems and can protect underlying mineralisation.

"First-pass mapping and sampling has uncovered a new silver-base metal mineralised centre. It contains a classic epithermal pathfinder suite of arsenic, antimony, alongside bismuth and molybdenum, which may point to a hotter, intrusion-related source."

"We believe Pachamayo is well preserved and that the strongest part of the system may still lie beneath what we see at surface."

The company is assessing whether Elvira represents an extension of the main Tassa hydrothermal system or a separate mineralised centre, and plans further mapping and sampling along the two-kilometre corridor that links Tassa and Elvira while it awaits drill permits for the main resource area.

Tassa already hosts a JORC-compliant inferred resource of 18.53 million tonnes at 52.68 grams per tonne, equivalent to 31.4 million ounces of silver equivalent. Patriot has also outlined a large exploration target for the broader project of 359 to 422 million tonnes at 48 to 57 g/t silver equivalent, which it says could contain a further 559 to 774 million silver equivalent ounces.

The discovery at Elvira comes as investor interest and capital for mine development in Peru has been rising: investment in the country’s commodities sector reached US$3.3 billion in the first half of this year, a 42.7 percent increase year-on-year. Peru holds the world’s largest silver reserves and remains a major global producer of zinc and molybdenum, accounting for about 12 percent and 15 percent of world output respectively, and ranks third in silver production behind Mexico and China according to US Geological Survey data.

With the new surface anomalies and a substantial resource already at Tassa, Patriot says the project has multiple exploration fronts to test. The company will continue systematic mapping and sampling between Tassa and Elvira to better understand continuity before committing to drilling programmes that will require permits.