NGEx Minerals Ltd. reported its results for the three months ended March 31, 2025.
By Panorama Minero
Highlights for Q1 2025 and the subsequent period thereto, include the following:
• Phase 3 drilling showcases the significant scale of Lunahuasi’s high-grade mineralization. Phase 3 drilling continued to intersect high-grade copper, gold and silver mineralization across considerable widths within all drillholes completed and assayed to date. The high-grade mineralization was encountered across full target scale, from short-range infill holes to longer-range step out holes.
In addition, mid- and long-range step out holes completed and assayed to date have substantially extended the minimum dimensions of the mineralized volume at Lunahuasi to 1.2km north-south, 1.7km east-west, and 1.2km vertically, with the deposit remaining open in all directions. Of note, additional step out holes are still pending assay, which could further expand the mineralized volume at Lunahuasi. By comparison, prior to the undertaking of Phase 3 drilling, the minimum dimensions measured 400 metres north-south, 900 metres east-west, and 960 metres vertically.
• Now completed Phase 3 drill program has resulted in improved geological understanding at Lunahuasi. The Company has improved its understanding of the geological setting at Lunahuasi, specifically increasing its confidence that the high-grade vein mineralization is correlated to, and controlled by, individual northeast trending, steeply dipping, structural corridors. This insight will be critical as the Company plans to focus future exploration on this high-value mineralization.
• Gold grades intersected at Lunahuasi comparable to the world’s top tier gold-only deposits. Throughout the high-grade vein hosted mineralization, the Company has intersected several intervals of exceptional gold values that would rival even top-tier gold-only deposits found globally, such as 27.4m at 23.17 g/t Au in hole DPDH032, which are in addition to high-grade copper and silver values. The Company believes that over time, as more drilling is conducted, gold has the potential to become a significant part of Lunahuasi’s value proposition.
Wojtek Wodzicki, President and CEO, remarked, “Although final assays from the Phase 3 Lunahuasi program are still coming in, results received to date have already contributed to a step change in our understanding of the deposit and the campaign has been a resounding success. In addition to consistently delivering high-grade copper, gold and silver intercepts from short-range infill holes to our longest-range step out holes, Phase 3 drilling at Lunahuasi has rapidly expanded the minimum north-south, east-west and vertical distances of the mineralized volume to well over 1km. This unique combination of high-grades and significant scale strongly emphasizes the potential exhibited by the vein hosted mineralization at Lunahuasi.”
