The project is located in the Vicuña district, San Juan province.
By Panorama Minero
NGEx Minerals Ltd. announced the discovery of a major new copper-gold porphyry system at its 100% owned Lunahuasi high-grade copper-gold-silver project. This discovery confirms the company’s interpretation of the geological setting of the Lunahuasi mineralization and opens up an entirely new, very large-scale exploration target at the project. Drillhole DPDH027 demonstrates that the Lunahuasi system has similar size and scale potential to other deposits in the Vicuña cluster, with the added advantage of the large, very high-grade copper-gold-silver high-sulphidation ("HS") epithermal structures which are unique to Lunahuasi.
Highlights
• Drillhole DPDH027 drilled across the HS zone before entering a porphyry copper-gold deposit at about 1,262m. The hole ended in mineralization at a depth of 2,005m and the full scale of the system remains unknown. The hole intersected:
• 1,619.40m at 0.87% copper equivalent ("CuEq") from 385.60m, including:
• 876.40m at 1.13% CuEq from 385.60m in disseminated, stockwork and lode high-sulphidation mineralization, including:
• 205.05m at 2.04% CuEq from 590.65m, plus:
• 743.00m at 0.56% CuEq from 1,262.00m in porphyry-style mineralization cut by discreet high-sulphidation zones, including:
• 18.00m at 2.68% CuEq from 1,343.00m
• 17.80m at 1.23% CuEq from 1,495.20m
• Drillhole DPDH029 is the southernmost hole drilled to date at Lunahuasi. It intersected the HS zone over its entire length, with early porphyry veins occurring from 1,100m providing a clear vector towards the porphyry to the west of the end of the hole. The hole intersected:
• 823.10m at 1.17% CuEq from 776.90m, including:
• 157.70m at 2.18% CuEq from 776.90m
• 38.90m at 4.35% CuEq from 870.70m
• 153.50m at 1.98% CuEq from 1,207.50m, including:
• 9.00m at 7.33% CuEq from 1,352.00m
Wojtek Wodzicki, President and CEO, commented, "Drillhole DPDH027 opens up an entirely new dimension of the Lunahuasi project, adding to the potential of what this giant mineral system will ultimately become. The possible presence of a large copper-gold porphyry system associated with the high-grade vein-hosted HS mineralization has been a part of our geological interpretation from the beginning, and we have now confirmed that we were on the right track. While our near-term exploration efforts will continue to target the unique high-grade vein system which we view as having the most important immediate potential, the presence of a porphyry system significantly increases the long-term value of the project.
We continue to successfully expand the HS system, and drillhole DPDH029 extended mineralization by over 400m to the south of hole 27. The north-south dimension of the key high-grade zone has now been expanded to over 1,100m and remains open in all directions. Hole DPDH029 ended in mineralization in argillic alteration associated with the high-sulphidation system overprinting early porphyry veins. This provides a clear vector indicating that the porphyry lies to the west of the end of this hole, some 500m south of the intersection in DPDH027, confirming its location and size potential."
