Santa Cruz

E2 Metals’ key focus is the Santa Cruz portfolio located in southern Argentina. Santa Cruz is one of the preeminent mining provinces in South America and is host to numerous intermediate and large producers such as Newmont, AngloGold Ashanti and Pan American Silver. The portfolio comprises 90,000 hectares of titles, owned 80% through the Company’s ownership in the local entity Minera Los Domos SA. The titles are within the Deseado Massif geological province and are prospective for epithermal gold and silver deposits such as the world-class Cerro Negro and Cerro Vanguardia mines.

The Company’s flagship Conserrat Project is located in the central part of the province 130km northwest of port town San Julian. Importantly, the project is centered on the same geological trend that is host to the Cerro Vanguardia mine, where historical and current reserves exceed 9 million ounces of gold and 140 million ounces of silver.

Conserrat boasts a recently discovered epithermal vein field that partially outcrops over an area of 25 square kilometers, within ‘erosional windows’ of younger volcanic and sediment cover.

The objective of the 2019 to 2020 field season was to drill test priority targets generated from systematic surface geochemical and geophysical surveys that were completed during the prior season. The work comprised over 5800m of trenching and three phases of scout reverse circulation (RC) drilling totaling 3283m at the Veta Blanca, Melisa, Ro, Florencia and Mia prospects, spaced north-south over 5km apart. Drilling was reconnaissance in nature and designed to test the shallow upper 50 meters of prospective veins and host structures, moving through each prospect. Regional scout drilling since September 2019 has defined shallow gold and silver mineralisation at four prospects, including:

• Mia (DRC-MI20-012): 18m at 47gpt Au, 208gpt Ag from 66m, including 1m at 424gpt Au, 1489gpt Ag
• Florencia (DRC-FL20-016): 14m at 2.2gpt Au, 11gpt Ag from 56m including 3m at 8.2gpt Au, 26gpt Ag
• Ro (CORC-19): 33m at 0.3gpt Au, 119gpt Ag from 27m, including5m at 0.6gpt Au, 441gpt Ag
• Veta Blanca (CORC-33): 3m at 4.4gpt Au, 49gpt Ag