Vancouver-based exploration company NGEx Minerals Ltd. has announced exceptional results from Phase 3 of its drilling program at the Lunahuasi project, located in the province of San Juan, Argentina. This high-grade copper, gold, and silver project is 100% owned by the company. The results have prompted an expansion of the drilling program to 25,000 meters, with two additional drill rigs to be added in February, bringing the total to eight rigs in operation.
By Panorama Minero
Since activities began in October 2024, Lunahuasi has emerged as one of the most promising metal exploration projects in the region. Recent drilling has revealed high-grade intersections in several holes, with standout results from hole DPDH028, which reported 51.10 meters at 13.84% copper equivalent (CuEq) within a broader interval of 205.35 meters at 5.08% CuEq. This represents the widest and highest-grade copper and gold intersection to date at the project.
Key drilling results include:
- DPDH024: 7.40m at 5.81% CuEq from 715.00m.
- DPDH025: 29.80m at 4.80% CuEq from 369.05m, including 5.74m at 21.22% CuEq (19.13 g/t gold).
- DPDH026: 21.50m at 3.07% CuEq from 529.20m, with a subinterval of 2.40m at 17.47% CuEq.
- DPDH028:
-2.00m at 11.82% CuEq (10.13 g/t gold) from 230.10m.
-205.35m at 5.08% CuEq from 378.50m, including:
-51.10m at 13.84% CuEq (9.70 g/t gold).
-Subintervals up to 8.20m at 35.84% CuEq (39.11 g/t gold).
“These results confirm Lunahuasi’s potential not only as a world-class copper deposit but also as a significant gold resource, with grades that rival those of high-quality gold deposits worldwide. Furthermore, mineralization remains open in all directions, suggesting substantial expansion potential,” the company stated in a release.
Wojtek Wodzicki, President and CEO of NGEx Minerals, commented, “Lunahuasi continues to exceed our expectations and deliver some of the best copper and gold results globally. The outcomes from hole DPDH028 represent a significant step forward in our understanding of the deposit and highlight the enormous gold potential of this property. Our immediate focus is to expand known zones and explore for a potential porphyry source to the west.”
The expansion of the drilling program has been made possible by a US$175 million financing completed in October 2024, ensuring the flexibility to adjust operations as new data becomes available.
"The Lunahuasi project stands as a cornerstone for mining development in Argentina, particularly in San Juan, a province recognized for its favorable regulatory framework and strong support for the mining sector. With the program’s expansion, NGEx Minerals reaffirms its commitment to exploring world-class resources and generating long-term value", added Wodzicki.
The company is expected to release regular updates on the progress of the drilling program and results, anticipating a steady flow of information through mid-2025.
