Sendero Resources Corp. Announces the results of the first three diamond drillings of the ongoing maiden drill program at the 100% owned Penas Negras Project in the Vicuna District of La Rioja, Argentina -April 3, 2024 at 12:00 PM

Sendero Resources Corp. announces the results of the first three diamond drillings of the ongoing maiden drill program at its 100% owned Peñas Negras Project in the Vicuña District of La Rioja, Argentina. Highlights PNDH003 (La Ollita) has 256m of 0.53 g/t gold equivalent “AuEq” from 84m intersected.

including 70 m of 0.66 g/t AuEq from 84 m, including 20 m of 0.76 g/t AuEq from 92 m, including 94 m of 0.58 ag/t AuEq from 246 m, including 8 m of 1 .09 g/t AuEq from 254 m. Ongoing drilling at La Ollita (drilling PNDH004-PNDH006) confirms the presence of a large mineralized advanced argillic epithermal litho cap telescoped on a porphyritic gold – copper system. After initial drilling at La Peña and Tamberías, attention shifted to the La Ollita target, where previous drilling in the 1990s by Eldorado Gold had found gold (Au) – copper (Cu) mineralization at relatively shallow depths (=150m) . PNDH003, a vertical drill to a depth of 450 m, penetrated an advanced argillic litho cap beneath 84 mm of moraine cover to a depth of 159 m. Below this depth the drilling revealed a gold and copper mineral.

Below this depth, several phases of dacite porphyry, an early mineralized phase and a late mineralized phase, were penetrated, before the hole terminated in a postmineral fracture zone. The upper part of the drilling penetrated a phreatomagmatic breccia with intensely pervasive residual vuggy silica and clay with alunite and yielded 70 m of 0.66 g/t AuEq from 84 m (Table 1 and Figure 2). In this advanced Argillic style alteration were pyrite-enargite-chalcocite and black sulphide veins with metallic values ​​up to Au (1.1g/t), Ag (7.3g/t), Mo (200ppm) and Cu (0.3%).

In addition, late epithermal Zn-Pb-Ag-Cu veins with intermediate sulfidation cover the Au-Cu mineralization of the porphyry. Below 159 m, the drilling discovered high-sulfur mineralization and advanced argillic alteration overlain sericite and kalassic (K-feldspar-biotite) porphyry-style alteration with A-quartz veins. The early porphyritic phase yielded 94 m of 0.58 g/t AuEq from 246 m.

Note that the Au-Cu gradations decreased significantly upon entering the extensive postmineral faults below 340 m, with the decrease in gradation being due to displacements through the faults rather than a decrease in Au-Cu gradations of the system itself. Despite extension drilling in this post-mineral fracture zone, we were unable to penetrate and plugged the hole on the advice of the drilling contractor. The company’s first exploration drillings at La Ollita target a triangular structural zone formed by the intersection of NE-NW-EW faults, which coincides with magnetic and IP chargeability anomalies.

The company’s contention is that this triangular zone represents a zone of weakness and provided a supply source for magmatic-hydrothermal fluids that formed the advanced argillic lithocap of at least 600 x 600 m. The company believes the advanced argillic lithocap can be much more extensive than this and exploring extensions will be a focus for future drilling. Results from PNDH003 and ongoing drilling at La Ollita demonstrate the existence of an extensive, well-preserved expanded Au-Cu-Ag mineral system hidden beneath the moraine cover.

This finding is similar to other deposits in the Vicuña district, such as Filo del Sol, which show telescoping alteration and mineralization on major systems of both high-sulfide Cu-Au-Ag and porphyry Cu-Au. The mineralization in PNDH003 is richer in gold than copper with average values ​​of 0.294 g/t Au to 0.142% Cu over the 256 m interval, with the higher metal values ​​of 1.11 g/t Au (110-112 m), 1 .35% Cu (254-256 m), 9.4 g/t Ag (254-256 m) and 200 ppm Mo (86-88 m). Copper could become dominant in some zones of the system, but for now the company is reporting in gold equivalent (AuEq) as gold has proven to be the dominant metal in the system so far.

If PNDH003 were reported in copper equivalent, the quality would be comparable to the resource quality at the nearby Josemaria deposit. The remainder of the current drill program will be completed at La Ollita with holes PNDH004, PNDH005 and PNDH006 now completed and PNDH007 currently being drilled. Drilling will continue until mid to late April, with approximately 3,100 m drilled to date.

Drilling has commenced at the two targets, La Peña (PNDH001) and Tamberías (PNDH002), with the most compelling exposed geology, surface soil and rock geochemistry, and magnetic and IP signatures. In both PNDH001 and PNDH002, Au-Cu and epithermal mineralization with intermediate sulfidation was found associated with quartz-diorite porphyries intersected by several breccias, including both magmatic-hydrothermal and late phreatomagmatic breccias. The early magmatic-hydrothermal breccia is mainly polymictic and contains chunks of terrestrial rock, including porphyritic and fragmentary rhyolite, granite, microdiorite, andesite, and volcanic plastic rocks, as well as Cu-porphyritic chunks with A-style veins.

The analysis results confirm low tenor degrees but consistent Au-Cu-Mo and Ag in La Peña. This is reminiscent of the periphery of gold-rich Maricunga-style porphyry systems, and the company is evaluating locations for future drilling to test different parts of these systems.