Six drill rigs continue to turn at Lunahuasi with twenty holes completed and 23,352m drilled to date.
By Panorama Minero
Two rigs have now been successfully demobilized as NGEx Minerals Ltd. begins to wind down its Phase 3 program in anticipation of the onset of winter weather conditions at the project.
Highlights include:
• Drillhole DPDH033 extends mineralization to the north and intersected:
• 40.00m at 7.02% copper equivalent ("CuEq") (including 6.02 g/t Au (gold)) from 935.00m, including:
• 6.20m at 7.96% CuEq from 937.80m
• 10.10m at 18.21% CuEq (including 19.32 g/t Au) from 964.90m
• Including 1.10m at 151.50 g/t Au from 964.90m
• Drillhole DPDH034 extends mineralization down dip from DPDH028 and intersected:
• 271.90m at 2.88% CuEq from 564.00m, including:
• 3.10m at 14.02% CuEq from 583.00m
• 5.75m at 11.25% CuEq from 722.75m
• >61.90m at 3.68% CuEq from 774.00m
Wojtek Wodzicki, President and CEO, commented:
• "Today's drill results mark a significant step forward in our geological understanding of the high-grade mineralization at Lunahuasi. As drill results continue to come in, we are gaining confidence in our geological interpretation of Lunahuasi as an extensive network of vein hosted high-sulfidation mineralization associated with a porphyry copper-gold system. Although a porphyry system is the source and driver of the high-grade mineralization, we believe that the high-grade mineralization is starting to demonstrate significant scale and consider it to be the primary target at Lunahuasi”.
• “We are starting to be able to correlate high-grade drill intersections along individual northeast trending, steeply dipping, structural corridors which control the mineralized veins. Just one of these structural corridors may be traced for at least 800 meters on strike and 650 meters vertically. Mineralization along this corridor pinches and swells, with estimated true widths exceeding 100m in the thickest high-grade zones and pinching to just one or two metres between zones. This structure is open upward, downward, and along strike. It is still early days though, and we will require additional drilling to confirm dimensions and extents. Our interpretations will evolve with more data, but these results are an important step forward in our understanding of the geology”.
• “We also continue to intersect significant gold grades which confirm Lunahuasi as a very interesting gold project in addition to the copper and silver. We believe that the importance of the gold mineralization at Lunahuasi is still underappreciated by investors and that over time gold has the potential to become a significant part of the Lunahuasi story”.
• “We are very pleased with the results of the Phase 3 program so far. We have achieved all our program objectives and the completion of our 25,000 meter drill plan is in sight."
