The Prospector News

NGEx Drills 16.4m at 12.97% CuEq plus 13.0m at 9.96% CuEq at Lunahuasi

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

NGEx Drills 16.4m at 12.97% CuEq plus 13.0m at 9.96% CuEq at Lunahuasi

 

 

 

 

 

NGEx Minerals Ltd. (TSX: NGEX) (OTCQX: NGXXF) is pleased to announce additional drill results from its 100% owned Lunahuasi high-grade copper-gold-silver project in San Juan, Argentina. Assay results from four of the remaining twelve drill holes are presented below.

 

Highlights:

  • Drillhole DPDH036 intersected:
    • 57.00m at 2.23% copper equivalent (“CuEq”) from 467.00m, plus:
    • 10.10m at 5.84% CuEq from 671.00m, plus:
    • 77.10m at 1.94% CuEq from 788.90m
  • Drillhole DPDH037 intersected:
    • 17.10m at 5.80% CuEq from 521.40m, including:
      • 3.0m at 15.30% CuEq from 521.40m, plus:
    • 87.80m at 2.75% CuEq from 731.50m
  • Drillhole DPDH038 intersected:
    • 42.40m at 6.14% CuEq from 146.00m, including:
      • 16.35m at 12.97% CuEq from 166.90m, including:
        • 6.40m at 23.93% CuEq from 172.00m, plus:
    • 29.10m at 4.79% CuEq from 552.90m, plus:
    • 6.60m at 11.87% CuEq from 620.00m
  • Drillhole DPDH039 intersected:
    • 108.35m at 2.73% CuEq from 499.00m, including:
      • 10.65m at 6.22% CuEq from 596.70m, plus:
    • 400.40m at 1.72% CuEq from 736.90m, including:
      • 13.00m at 9.96% CuEq from 842.00m, and including:
      • 19.20m at 6.24% CuEq from 970.40m, and including:
      • 10.30m at 4.47% CuEq from 1,127.00m.

 

Wojtek Wodzicki, President and CEO, commented, “Today’s results continue to highlight the size and grade of the Lunahuasi system while also providing important context and input for the development of its geological model. Drilling to date has yet to locate the boundaries of the system, and hole 38 from today’s results extends high-grade mineralization to the north.

 

With drilling now concluded these and the remaining results will contribute to the development of a deposit model and help with planning for our Phase 4 program. While we wait for the final assays from Phase 3 to be received, we have already begun to shift our focus to planning and preparing for Phase 4, which is anticipated to commence in October, as we seek to follow up on the exploration success of the past program.”

 

Table 1: Significant Intersections

Hole ID From To Length (m) Estimated
True Width
(m)
Cu % Au g/t Ag g/t CuEq %
DPDH036 170.00 173.00 3.00 1.7 1.48 4.17 138.0 5.73
plus 467.00 524.00 57.00 37 1.47 0.67 31.5 2.23
incl 496.20 503.80 7.60 4.9 4.21 1.65 87.4 6.18
and incl 511.00 513.20 2.20 1.4 3.53 1.61 87.1 5.46
and incl 522.00 524.00 2.00 1.3 6.71 2.83 82.5 9.50
plus 546.00 548.00 2.00 1.3 2.62 1.67 134.0 5.02
plus 615.50 621.20 5.70 3.7 1.88 1.54 57.0 3.50
plus 671.00 681.10 10.10 6.2 1.28 5.63 50.7 5.84
plus 788.90 866.00 77.10 45 1.55 0.40 11.5 1.94
incl 857.00 866.00 9.00 5.0 3.98 0.96 24.7 4.90
plus 943.15 954.00 10.85 6.0 1.23 0.37 77.9 2.19
plus 1072.20 1075.30 3.10 1.7 3.01 0.49 24.4 3.59
DPDH037 521.40 538.50 17.10 9.1 0.69 5.99 83.4 5.80
incl 521.40 524.40 3.00 1.6 0.16 19.13 135.3 15.30
plus 566.30 572.85 6.55 3.5 1.71 0.90 48.5 2.79
plus 639.00 670.00 31.00 17 1.22 0.82 32.2 2.10
plus 731.50 819.30 87.80 53 2.00 0.69 28.9 2.75
incl 751.00 758.30 7.30 4.4 6.02 1.44 70.5 7.69
and incl 774.60 819.30 44.70 27 2.67 0.88 42.5 3.69
incl 774.60 792.00 17.40 10 3.72 1.02 68.9 5.07
plus 869.00 886.70 17.70 12 2.42 0.68 20.8 3.10
plus 917.20 941.65 24.45 18 3.04 0.84 21.2 3.84
DPDH038 146.00 188.40 42.40 27 4.11 2.35 35.7 6.14
plus 166.90 183.25 16.35 11 9.15 4.31 77.1 12.97
incl 172.00 178.40 6.40 4.1 17.74 6.73 145.2 23.93
plus 212.90 222.00 9.10 5.8 1.69 0.72 24.7 2.43
plus 269.00 273.90 4.90 3.1 1.66 1.41 20.1 2.86
plus 301.90 305.20 3.30 2.1 2.58 0.55 28.3 3.23
plus 422.00 427.00 5.00 3.2 1.36 1.53 26.2 2.71
plus 436.60 439.30 2.70 1.7 1.78 2.58 68.1 4.26
plus 552.90 582.00 29.10 19 3.03 2.12 25.1 4.79
incl 559.30 561.00 1.70 1.1 15.78 12.92 258.5 27.48
and incl 575.50 577.50 2.00 1.3 10.82 6.27 47.0 15.80
plus 608.60 626.60 18.00 12 3.71 2.71 29.7 5.94
incl 620.00 626.60 6.60 4.2 7.30 5.66 50.3 11.87
plus 667.20 669.25 2.05 1.3 6.59 0.78 25.0 7.38
plus 772.20 775.20 3.00 1.9 5.03 1.69 154.4 7.62
DPDH039 298.00 311.00 13.00 8.8 3.17 1.34 35.0 4.45
incl 308.00 311.00 3.00 2.0 7.37 3.51 90.0 10.72
plus 499.00 607.35 108.35 74 1.48 1.27 36.2 2.73
incl 499.00 506.00 7.00 4.8 1.60 2.50 162.1 4.85
plus 537.00 540.00 3.00 2.1 9.76 4.60 319.7 15.92
plus 554.80 558.50 3.70 2.6 4.69 1.89 32.9 6.35
plus 567.00 576.00 9.00 6.4 1.60 4.18 67.3 5.24
plus 596.70 607.35 10.65 7.6 4.01 2.66 30.6 6.22
plus 709.25 711.30 2.05 1.5 1.51 2.40 18.1 3.42
plus 736.90 1137.30 400.40 400 1.18 0.44 25.9 1.72
incl 758.00 760.00 2.00 1.4 8.34 0.79 97.0 9.77
and incl 817.00 829.55 12.55 9.4 0.58 2.17 241.5 4.29
and incl 842.00 855.00 13.00 9.8 6.16 2.90 191.1 9.96
and incl 913.70 921.70 8.00 6.0 2.92 0.68 67.3 4.01
and incl 970.40 989.60 19.20 15 5.22 0.85 45.2 6.24
and incl 1012.45 1014.40 1.95 1.5 9.81 1.07 48.6 11.01
and incl 1127.00 1137.30 10.30 8.0 3.54 0.94 27.0 4.47

Copper equivalent (CuEq) for drill intersections is calculated based on US$3.00/lb Cu, US$1,500/oz Au and US$18/oz Ag, with 80% metallurgical recoveries assumed for all metals. The formula is: CuEq % = Cu % + (0.7292 * Au g/t) + (0.0088 * Ag g/t).

 

Estimated true widths are rounded to the nearest metre for widths over 10m and to the nearest 0.1m for widths less than 10m, as this better reflects the precision of the estimates. True widths should be regarded as approximate as these are derived from an estimation that uses a preliminary interpretation of the geological model and are subject to change as more information becomes available.  Intervals greater than 300m are interpreted as bulk disseminated and stockwork mineralization and drilled width is equal to estimated true width.

 

DPDH036 was collared on one of the highest elevation platforms and angled to the west with a dip of -55o to explore the up-dip extension of the vein system.  Several mineralized zones were intersected as shown in Table 1, all of which extend the deeper zones upwards and remain open to surface.

 

DPDH037 was collared from the same platform as DPDH027 and DPDH029 and drilled in between these holes, towards the west at a dip of -51o. An important result of this hole was the intersection of 87.80m at 2.75% CuEq from 731.50m which lies along an interpreted consistent zone as described in the news release from April 24, 2025. This hole intersected the zone in between holes DPDH027 (53.30m at 2.22% CuEq from 536.00m) and DPDH029 (101.20m at 2.83% CuEq from 807.50m), 220m from the former and 190m from the latter. The fact that DPDH037 intersected this zone where predicted improves our confidence in its orientation and continuity.

 

DPDH038 was drilled from the same platform as DPDH025 and DPDH033, the northernmost platform, and angled to the northwest at an azimuth of 302o and a dip of -49o to test for a northern extension to the mineralization in those holes. A high-grade intersection of 16.35m at 12.97% CuEq from 166.90m confirms the extension of the zone described in the news release dated March 13, 2025. This intersection extends the zone by 30m, giving it a strike length of at least 120m from hole DPDH032, and it remains open to the north beyond DPDH038. The hole went on to intersect several additional high-grade zones before ending at 785m.  This hole clearly demonstrates that the entire system remains completely open to the north.

 

DPDH039 was drilled roughly in the middle of the known deposit and angled to the west at a dip of -45o to fill a large gap in the drill pattern at this location.  Several zones were intersected, ranging from 400.40m at 1.72% CuEq to 1.95m at 11.01% CuEq, representing the variety of mineralized widths and grades within the deposit. These zones correlate well with nearby holes, helping to define geometries and continuity as we build out the deposit model.

 

Discussion

 

With assay results now back from 16 of the 24 holes drilled this season, we have significantly increased our understanding of the size and geometry of the Lunahuasi vein deposit, as well as confirmed that it is only one part of a much larger porphyry / high-sulphidation epithermal system.

 

We are starting to define at least three discreet zones of contiguous high-grade mineralization and beginning to understand the structural patterns and geometry of the deposit. Two of these zones were described in the March 13, 2025 and April 24, 2025 news releases. Drillholes DPDH037 and DPDH038, discussed above, are significant in that they intersected these zones as predicted, helping to confirm our interpretation and improve our understanding of the deposit. All three of these zones, along with the entirety of the Lunahuasi deposit, remain open to expansion in all directions and we have yet to define any of the limits of the deposit.

 

In addition to these three zones, we have numerous isolated drill intersections which we are confident will develop into additional zones with more drilling.

 

The Phase 3 drill program was completed on May 8, 2025, with a total of 25,003m drilled in 24 holes. All field activities have now been concluded, and we are focused on advancing our geological interpretation and building out the deposit model during the austral winter season before finalizing and announcing our Phase 4 program plans in the upcoming months. Full assays for the final 8 holes of the Phase 3 program representing 6,082m of drill core are pending.

 

Table 2: Assay Intervals by News Release Date

Hole ID  Dec. 18
2024
 Jan. 21
2025
 Feb.19 2025  Mar. 13
2025
 Apr 24 2025  May 21 2025  June 18
2025
Pending
DPDH024 0-394.0 394.0-757.0 757.0-968 None
DPDH025 0-271.0 271.0-652.0 652.0-1303.8 None
DPDH026 0-553.0 553.0-1261.2 None
DPDH027 0-459.0 459.0-1075.1 1015.1-2005.0 None
DPDH028 0-588.0 588.0-1530.7 None
DPDH029 0-1060.0 1060.0-1600.0 None
DPDH030 0-502.9 None
DPDH031 0-860.0 None
DPDH032 0-573.0 573.0-896.1 None
DPDH033 0-475.8 475.8-1235.0 None
DPDH034 0-353.3 353.3-1329.7 None
DPDH035 0-273.5 273.5-1073.0 None
DPDH036 0-1105.2 None
DPDH037 0-1196.1 None
DPDH038 0-785.0 None
DPDH039 0-1200.8 None
DPDH040 All
DPDH041 All
DPDH042 All
DPDH043 All
DPDH044 All
DPDH045 All
DPDH046 All
DPDH047 All

 

Qualified Persons and Technical Notes

 

The scientific and technical disclosure included in this news release have been reviewed and approved by Bob Carmichael, B.A.Sc., P.Eng. who is the Qualified Person as defined by NI 43-101. Mr. Carmichael is Vice President, Exploration for the Company.

 

Samples were cut at NGEx’s operations base in San Juan, Argentina by Company personnel. Diamond drill core was sawed and then sampled in maximum 2-meter intervals, stopping at geological boundaries. Core diameter is a mix of PQ, HQ and NQ depending on the depth of the drill hole. Samples were bagged, tagged and packaged for shipment by truck to the ALS preparation laboratory in Mendoza, Argentina where they were crushed and a 500g split was pulverized to 85% passing 200 mesh. The prepared sample splits were sent to the ALS assay laboratory in Lima, Peru for copper, gold and silver assays, and multi-element ICP. ALS is an accredited laboratory which is independent of the Company. Gold assays were by fire assay fusion with AAS finish on a 30g sample. Copper and silver were assayed by atomic absorption following a 4-acid digestion. Samples were also analyzed for a suite of 48 elements with ME-MS61 plus mercury and a sequential copper leach analysis was completed on each sample with copper greater than 500ppm (0.05%). Sequential copper analysis involves the sequential leaching of the sample by acid, followed by a cyanide solution. It can be used to differentiate copper speciation, with copper oxide minerals leachable with acid and secondary copper minerals (enargite, chalcocite, covellite) leachable by cyanide. The residual copper remaining following the sequential leaches it typically contained in chalcopyrite and bornite. Copper and gold standards as well as blanks and duplicates (field, preparation, and analysis) were randomly inserted into the sampling sequence for Quality Control. On average, 9% of the submitted samples are Quality Control samples. No data quality problems were indicated by the QA/QC program.

 

About NGEx Minerals

 

NGEx Minerals is a copper and gold exploration company based in Canada, focused on exploration of the Lunahuasi copper-gold-silver project in San Juan Province, Argentina, and the nearby Los Helados copper-gold project located approximately nine kilometres to the northeast in Chile’s Region III. Both projects are located within the Vicuña District, which includes the Caserones mine, and the Josemaria and Filo del Sol deposits.

 

NGEx owns 100% of Lunahuasi and is the majority partner and operator for the Los Helados project, subject to a Joint Exploration Agreement with Nippon Caserones Resources LLC, which is the indirect 30% owner of the operating Caserones open pit copper mine located approximately 17 kilometres north of Los Helados. Lundin Mining Corporation holds the remaining 70% stake in Caserones.

 

 


Lunahuasi Geology Drill Plan 2025 June (CNW Group/NGEx Minerals Ltd.)

 

Posted June 19, 2025

Share this news article

MORE or "UNCATEGORIZED"


Bonterra Announces Closing of Upsized Brokered Private Placement for Proceeds of $10.5M

Bonterra Resources Inc. (TSX-V: BTR) (OTCQX: BONXF) (FSE: 9BR2) i... READ MORE

June 30, 2025

ESGold Expands Montauban Mine Building to 4,000 sq. ft. Ahead of Key Operational Milestones

Increased facility footprint reflects advanced construction progr... READ MORE

June 30, 2025

ARIS MINING COMPLETES INSTALLATION AND COMMISSIONING OF SECOND MILL AT SEGOVIA, ON TIME AND ON BUDGET

Aris Mining Corporation (TSX: ARIS) (NYSE-A: ARMN) announces the... READ MORE

June 30, 2025

Zodiac Gold Expands Arthington Discovery with Broad Gold Intercepts

Zodiac Gold Inc. (TSXV: ZAU)  a West-African gold exploration co... READ MORE

June 30, 2025

Appia Announces Final Closing of Its Non-Brokered Private Placement

Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQB: APAAF) (... READ MORE

June 30, 2025

Copyright 2025 The Prospector News