NGEx Minerals Ltd. provided the third update on its ongoing Phase 3 drill program at the 100% owned Lunahuasi high-grade copper-gold-silver project in San Juan province. Six drill rigs are currently turning at Lunahuasi with seven holes completed and 12,800m drilled. Two additional rigs are scheduled to start before the end of February and the planned program has been expanded from 20,000m to 25,000m.
By Panorama Minero
Wojtek Wodzicki, President and CEO, commented, "Lunahuasi continues to deliver very high-grade, copper-gold-silver intersections over considerable widths and with these latest drill results, which include positive results received from our biggest step out holes to date, we are starting to significantly extend the mineralized system and demonstrate that at Lunahuasi we have a rare combination of very high grades and very large size potential.
The intercepts in DPDH028 (53.5m @7.79% CuEq) and DPDH029 (157m @ 2.16%CuEq) are particularly important because they are large step-outs from previously intercepted mineralization. The intercept in DPDH028 is deeper and to the west of all previous holes and is open in all directions. The intercept in DPDH029 is 470m south of DPDH028 and correlates well with a large structure seen in DPDH 021, 022, 027, and 028. DPDH029 is the largest step-out to the south to date. Results have been received to a depth of 1060m and the hole is continuing to drill to depth.
Drilling to date has now encountered mineralization over a minimum north-south extent of just over 1km from DPDH025 in the north to DPDH029 in the south, a minimum vertical extent of just over 1km and a minimum east-west extent of also just over 1km. These are minimum dimensions – the deposit remains open in all directions and every hole drilled into it has encountered multiple mineralized intersections. Our focus remains on continuing to push the boundaries and try to determine how big this unique deposit might be."
Highlights:
Drillhole DPDH024 intersected:
• 75.45m at 4.95% copper equivalent ("CuEq") from 773.80m
• Including 15.25m at 16.56% CuEq from 834.00m
Drillhole DPDH026 intersected:
• 42.40m at 3.44% CuEq from 679.60m, including:
• 3.65m at 20.97% CuEq from 692.35m, plus:
• 44.20m at 2.86% CuEq from 794.80m
Drillhole DPDH027 intersected:
• 49.00m at 2.98 g/t Au and 241.1 g/t Ag from 447.00m, including:
• 19.30m at 5.77 g/t Au and 560.6 g/t Ag from 450.20m
Drillhole DPDH028 intersected:
• 59.10m at 5.07% CuEq from 834.50m, including:
• 10.50m at 10.02% CuEq from 872.60m, plus:
• 53.50m at 7.79% CuEq from 1219.50m, including:
• 8.00m at 12.93% CuEq from 1230.50m, and
• 4.87m at 31.25% CuEq from 1249.50m (11.33 g/t gold)
Drillhole DPDH029 intersected:
• 13.00m at 5.50% CuEq from 540.00m, plus:
• 157.70m at 2.18% CuEq from 776.90m, including:
• 3.50m at 10.32% CuEq from 807.50m, and
• 38.90m at 4.35% CuEq from 870.70m
