NGEx Minerals Ltd. provided the first update on its ongoing Phase 3 drill program at the 100% owned Lunahuasi high-grade copper-gold-silver project in San Juan province. Drilling started in mid-October 2024, and six diamond drill rigs are currently working on the project.
Highlights
• Drillhole DPDH024 intersected:
• 86.60m at 4.39% copper equivalent ("CuEq") from 89.40m, including:
• 12.25m at 23.35% CuEq from 139.75m, including:
• 4.05m at 55.26% CuEq from 145.35m
• This hole was completed to a final depth of 968m on November 29; assays have been received for the first 394m
• Drillhole DPDH025 intersected:
• 51.40m at 3.69% CuEq from 143.80m, including:
• 11.90m at 10.74% CuEq from 143.80m, including:
• 3.50m at 19.29% CuEq from 150.00m
• This hole is in progress and currently at a depth of 1,100m; assays have been received for the first 271m
Wojtek Wodzicki, President and CEO, commented, "These initial results from the upper parts of the first two holes of this program have exceeded our expectations. Today's news release and especially the results from DPDH024, highlights some of the extremely high grades found at Lunahuasi. Of particular note are the bonanza-grade gold values which demonstrate that Lunahuasi has the potential to be an important high-grade gold deposit as well as a significant copper and silver deposit. These gold values would be noteworthy at many high-grade gold-only deposits. Hole DPDH025 is also important because it clearly shows that the system continues strongly to the north and remains open beyond it. With only 6,500m drilled to date and most of the drill program still ahead of us, we have had a great start to the program and look forward to sharing ongoing results on a regular basis over the coming months as we continue to expand and infill this remarkable deposit. With three ongoing drill holes now over 1,000m deep, two of which are planned to reach at least 2,000m, we are well on our way to achieving our goal of significantly expanding the mineralized footprint of the deposit."
Six drill rigs are currently working at Lunahuasi with one hole (DPDH024) completed and holes DPDH025 through DPDH030 in progress. Additional intersections for these holes, including those from the lower portions of holes DPDH024 and DPDH025, will be released once assays are received, analyzed, and confirmed by the Company.
