Casposo – Argentina

Casposo Brownfield Exploration
Casposo is a Permian epithermal low sulphidation deposit. Austral Gold geological work outlined a complex volcanic sequence of the Choiyoi Group (Permian-Triassic in age) consisting of a Lower Sequence dominated by thick andesitic pyroclastic units, and an Upper Sequence by dacitic to rhyolitic lavas and pyroclastic rocks. Dominant structural controlled epithermal quartz veins (NW-SE as well as N-S and E-W) crosscut the volcanic sequence except for younger intermediate to rhyolitic dikes and minor intrusions.

Care and Maintenance
During the June 2019 quarter, Austral completed a comprehensive review of operations and decided to temporarily place the mine on care and maintenance.

In the last 15 years, seven mines have been constructed in Santa Cruz, making the Deseado Massif geological province one of the most prolific precious metal regions in the world, including world-class deposits such as Cerro Vanguardia and Cerro Negro.

Austral Gold has an extensive portfolio of properties in this province, with the advanced project Pingüino as the flagship, and a series of greenfield projects: Condor, Contreras, 8 de Julio, Nuevo Oro and Diamante.

Pingüino Advanced Project
The Silver-Gold-Zinc-Lead-Indium Pingüino project is an advanced stage development project in Santa Cruz, Argentina. The Pingüino project lies in a vein field (~115 km strike length of veins) similar, but smaller to Cerro Vanguardia some 35 Km NW along the same regional structure. The project has year-round access, is close to significant infrastructure, has no near-by communities, and the Group owns more than 70% of the surface land.

Pingüino is an atypical epithermal deposit for the Deseado Massif, since it combines lower Jurassic polymetallic mineralization with mid to upper Jurassic precious metal-rich veins.