ARGENTINA · MINING
Key Facts
- —The country Argentina is a large South American producer of lithium, gold, silver and copper, and its northern province of Salta holds part of the high Andean plateau known as the Puna.
- —Why it matters Exploration holes are how a mining prospect becomes an investment case, and two companies are now drilling gold and copper ground in the Salta Puna near known deposits.
- —Why now Golden Minerals announced its drilling on Tuesday 6 October 2026 and Centauri Minerals announced its drill program on Tuesday 13 October 2026, and El Tribuno of Salta rounded both up on Sunday 18 October.
- —What happened Centauri plans 12,000 meters at Rio Grande, its first drilling there since 2013, and Golden Minerals has started a 1,250-meter program at Desierto.
- —The numbers Together the two programs total 13,250 meters, with Golden’s estimated budget at US$1.088 million and Centauri’s first phase running to the second quarter of 2027.
- —What it means for you Golden Minerals is quoted in the United States on the OTCQB, so US investors can follow its results, which are due in the first quarter of 2027.
- —Still open Whether Centauri’s rigs have reached the site, and what either program finds.
- —Power Index Argentina ranks 4th of 14 in The Rio Times Latin America Power Index, with 61.2 points (October 2026 edition).
Two mining companies are planning Puna drilling in Salta province, Argentina, with 13,250 meters (about 43,500 feet) between them, according to company releases of Tuesday 6 October and Tuesday 13 October 2026. El Tribuno of Salta rounded up both programs on Sunday 18 October 2026 under the headline “Dos empresas vuelven a la Puna en busca de oro y cobre”.
For US readers, Golden Minerals is a Denver-based explorer quoted on the OTCQB in the United States and on the Toronto Stock Exchange, while Centauri Minerals is a Vancouver company listed on the TSX Venture Exchange. Both are drilling ground close to known deposits and mines, which matters to investors following the search for copper and gold in Argentina.
This is a recap of two announcements made earlier this month, not a new development, and neither Puna drilling program has published results. We covered the wider Salta mining story in Rio Tinto Plans US$2.7 Billion Lithium Project in Salta on 2 October and national output in Argentina Mining Output Rises 8.4% on Shale Oil Surge on 9 October.
Two Companies and Their Puna Drilling Plans
Centauri Minerals, listed as CENT, said on Tuesday 13 October 2026 that it is mobilizing two drill rigs to its Rio Grande gold-copper project. The release, distributed by GlobeNewswire at 09:39 ET from Vancouver, calls it the first drilling at the project since 2013.
Golden Minerals, listed as AUMN, said on Tuesday 6 October 2026 that drilling had started at its Desierto property. The release, datelined Denver and sent through ACCESS Newswire, describes a 1,250-meter program (about 4,100 feet) with an estimated budget of US$1.088 million.
Both sites lie in the Puna of Salta, a high plateau in north-western Argentina, so the Puna drilling spans two projects. They are separate companies with separate projects, which El Tribuno placed in one story.
Centauri Returns to Rio Grande After 2013
Centauri’s first phase is 12,000 meters of diamond drilling (about 39,400 feet) with two rigs from a local provider, lasting about six months into the second quarter of 2027. The company says it has funding to extend the program to 24,000 meters, though the release gives no dollar amount.
One rig is to work near the surface to expand the known mineralization and recover core for metallurgical testing. The second is to drill deeper targets of the porphyry type, meaning large copper and gold systems formed around a buried intrusion.
Those deep targets come from a 3D magneto-telluric survey finished in the third quarter of 2026, covering about 56 square kilometers. It imaged electrical resistivity to depths of 3 to 4 kilometers and found a low-resistivity body larger than 1.3 by 2.0 kilometers beneath the ring-shaped structure of known mineralization.
The project’s earlier drilling record is thin. Historical holes at the Cerro Cori zone in 2012 and 2013 totaled four holes and 1,200 meters, with a best intercept of 297 meters at 0.36 grams of gold per tonne, according to the release.
El Tribuno, citing the mining portal Redimin, puts the indicated resource at 153.7 million tonnes grading 0.29 grams of gold per tonne and 0.25% copper. The Centauri release describes an independent resource estimate but gives no tonnage or grade, so those numbers rest on El Tribuno’s account alone.
Work will run from the Arita camp on the southern edge of the Salar de Arizaro, about 9 kilometers east of Rio Grande, where Centauri owns the airstrip. The company says rigs are expected on site later in October and that it will prioritize hiring from Tolar Grande and San Antonio de los Cobres.
Golden Minerals Tests Three Desierto Targets
Golden’s drilling covers three targets named Sico, Cobre and Iceberg on concessions of 2,505 hectares (about 6,190 acres). The work is expected to take four to six weeks, with full results due in the first quarter of 2027.
At Cobre, drilling will test below an outcropping gold-bearing quartz vein that has never been drilled, where surface samples assayed up to 45.8 grams of gold per tonne. At Iceberg, a single 600-meter hole (about 1,970 feet) will probe an alteration zone linked to the Taca Taca system.
Sico tests the down-dip extension of a gold alteration system on the neighboring Sarita property, where earlier holes returned intercepts such as 15.8 meters at 2.76 grams of gold per tonne. Golden holds 51% of Sarita and Cascadero Copper holds 49%, according to the release.
The Desierto concessions lie about 3.5 kilometers from the Taca Taca deposit and about 50 kilometers from Fortuna Mining’s Lindero gold mine. Golden owns 66 2/3% of the concessions, and the rest sits with Salta Geothermal, a subsidiary of Cascadero Copper.
On Tuesday 1 September 2026 Cascadero announced the sale of its Argentine interests to Lumina Copper, a First Quantum affiliate. Golden chief executive David Watkins said the company is again focusing on organic growth through exploration.
What El Tribuno Added on 18 October
El Tribuno’s Sunday roundup adds the local frame: it sets the two programs side by side, names Redimin as the source for Centauri’s resource figures and notes the Cascadero sale. It also says one deposit untouched since 2013 receives exploration equipment this month while the other opens holes next to Taca Taca.
Its figures match the two releases on every point we compared, including 12,000 and 24,000 meters, two rigs, 1,250 meters, US$1.088 million and 2,505 hectares. The newspaper reports no development beyond the releases, such as drill results or confirmation that Centauri’s rigs have arrived.
What It Means for You
Golden Minerals is the only one of the two quoted on a US market, through the OTCQB, and its budget of US$1.088 million shows how small a single exploration program can be. No results from either Puna drilling program have been published yet, so the releases describe plans and a start, not discoveries.
Readers following Argentine copper and gold can treat Puna drilling in Salta as a sign that exploration is restarting near known deposits. Our reports Rio Tinto Plans US$2.7 Billion Lithium Project in Salta and Argentina Mining Output Rises 8.4% on Shale Oil Surge give the wider picture of the province’s mining sector and the country’s output.
What Is Not Known
It is not known whether Centauri’s two rigs have reached Rio Grande, because its release said only that they were expected on site later in October. Golden’s release says the program would take four to six weeks, but it does not say how many holes are complete.
Neither Puna drilling program has published results, with Golden’s due in the first quarter of 2027 and Centauri’s first phase running to the second quarter of 2027. The sources also do not say what a successful result would lead to, such as a resource update or a larger program.
Frequently Asked Questions
When did the two companies announce their drilling?
Golden Minerals announced its Desierto drilling on Tuesday 6 October 2026, and Centauri Minerals announced its Rio Grande program on Tuesday 13 October 2026. El Tribuno rounded up both on Sunday 18 October.
How much will the two programs drill?
Centauri plans 12,000 meters in a first phase, with funding to reach 24,000 meters, and Golden Minerals plans 1,250 meters. Together the first programs total 13,250 meters.
What is the budget for the drilling?
Golden Minerals puts its program at an estimated US$1.088 million. Centauri’s release gives no dollar amount.
Why is Rio Grande drilling notable?
Centauri says it is the first drilling at the project since 2013. The company says the new holes target a deeper low-resistivity body found by a 2026 survey.
When will results be known?
Golden Minerals expects full results in the first quarter of 2027. Centauri’s first phase runs about six months into the second quarter of 2027.
Sources: El Tribuno, 18 October 2026; Centauri Minerals release, 13 October 2026; Golden Minerals release, 6 October 2026.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief