NGEX DRILLS 23.0 METRES AT 23.02% COPPER EQUIVALENT WITHIN 71.9 METRES AT 9.63% COPPER EQUIVALENT AT LUNAHUASI
- Drillhole DPDH010 intersected several mineralized intervals:
-
- 102.0 metres ("m") at 4.56% copper equivalent ("CuEq") from 192.0m (previously reported), including
-
-
- 62.6m at 5.84% CuEq from 226.0m, including
-
-
-
-
- 9.4m at 12.10% CuEq from 232.0m, plus
- 4.2m at 19.70% CuEq from 282.2m, plus
-
-
-
- 460.9m at 1.09% CuEq from 609.3m (new), including
-
-
- 4.5m at 25.95% CuEq from 609.3m, plus
- 1.9m at 10.57% CuEq from 764.5m, plus
- 5.8m at 6.81% CuEq from 834.3m
-
-
- Drill results down to a depth of 355.3m were previously reported on
January 8, 2024 .
- Drill results down to a depth of 355.3m were previously reported on
- Drillhole DPDH011 intersected 46.0m at 2.06% CuEq from 330.0m, including
-
- 10.0m at 3.42% CuEq from 330.0m.
- Drillhole DPDH014 intersected several mineralized intervals:
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- 184.2m at 4.61% CuEq from 166.0m, including
-
-
- 71.9m at 9.63% CuEq from 171.2m, including
-
-
-
-
- 23.0m at 23.02% CuEq from 220.0m, including
-
-
-
-
-
-
- 9.4m at 40.12% CuEq from 231.7m, plus
-
-
-
-
- 28.0m at 5.44% CuEq from 533.0m, plus
- 10.9m at 4.39% CuEq from 722.4m, plus
- 6.4m at 8.82% CuEq from 953.6m.
- Estimated true widths of the intersections and breakdown of individual metal grades are shown in Table 1 below.
- Plan view maps of Lunahuasi drill holes to date are attached to the end of this news release.
Table 1: Significant Intercepts
Hole ID |
From (m) |
To (m) |
Length (m) |
Est True |
Cu (%) |
Au (g/t) |
Ag (g/t) |
CuEq (%) |
DPDH010 |
121.5 |
125.2 |
3.7 |
2.3 |
3.59 |
6.09 |
85.9 |
8.79 |
plus |
157.0 |
164.5 |
7.5 |
4.7 |
0.98 |
0.68 |
31.3 |
1.75 |
plus |
192.0 |
294.0 |
102.0 |
64.3 |
2.45 |
1.71 |
97.3 |
4.56 |
incl |
192.0 |
198.3 |
6.3 |
3.9 |
2.22 |
1.63 |
69.0 |
4.02 |
and incl |
204.0 |
211.0 |
7.0 |
4.4 |
3.40 |
1.64 |
56.7 |
5.10 |
and incl |
226.0 |
288.6 |
62.6 |
39.4 |
3.10 |
2.09 |
138.3 |
5.84 |
incl |
232.0 |
241.4 |
9.4 |
5.9 |
4.86 |
4.49 |
450.2 |
12.10 |
and incl |
271.0 |
288.6 |
17.6 |
11.1 |
5.31 |
2.05 |
165.2 |
8.26 |
incl |
282.2 |
286.4 |
4.2 |
2.6 |
12.12 |
4.33 |
503.4 |
19.70 |
plus |
355.3 |
358.8 |
3.5 |
2.2 |
4.97 |
6.07 |
55.6 |
9.88 |
plus |
490.0 |
500.0 |
10.0 |
6.3 |
2.34 |
1.13 |
29.4 |
3.42 |
plus |
609.3 |
1,070.2 |
460.9 |
290.4 |
0.64 |
0.35 |
22.2 |
1.09 |
incl |
609.3 |
613.8 |
4.5 |
2.8 |
5.97 |
11.21 |
1,341.2 |
25.95 |
and incl |
720.5 |
725.0 |
4.5 |
2.8 |
3.48 |
0.41 |
15.2 |
3.92 |
and incl |
764.5 |
766.3 |
1.9 |
1.2 |
9.79 |
0.68 |
32.0 |
10.57 |
and incl |
834.3 |
840.0 |
5.8 |
3.6 |
5.04 |
1.00 |
119.0 |
6.81 |
DPDH011 |
168.0 |
182.0 |
14.0 |
7.0 |
0.28 |
1.17 |
7.0 |
1.19 |
plus |
330.0 |
376.0 |
46.0 |
23.0 |
0.81 |
1.50 |
16.9 |
2.06 |
incl |
330.0 |
340.0 |
10.0 |
5.0 |
1.95 |
1.63 |
31.6 |
3.42 |
DPDH014 |
60.0 |
75.0 |
15.0 |
7.7 |
1.68 |
0.65 |
49.0 |
2.58 |
plus |
166.0 |
350.2 |
184.2 |
93.9 |
2.85 |
2.15 |
22.3 |
4.61 |
incl |
171.2 |
243.0 |
71.9 |
36.6 |
5.79 |
4.70 |
46.9 |
9.63 |
incl |
171.2 |
175.0 |
3.8 |
2.0 |
6.51 |
12.08 |
39.9 |
15.67 |
and incl |
193.0 |
196.0 |
3.0 |
1.5 |
9.16 |
2.76 |
58.5 |
11.69 |
and incl |
220.0 |
243.0 |
23.0 |
11.7 |
14.68 |
9.95 |
123.1 |
23.02 |
incl |
231.7 |
241.1 |
9.4 |
4.8 |
27.68 |
14.13 |
242.4 |
40.12 |
plus |
502.6 |
504.6 |
2.0 |
1.0 |
10.41 |
1.79 |
47.0 |
12.12 |
plus |
533.0 |
960.0 |
427.0 |
217.8 |
0.76 |
0.29 |
13.5 |
1.09 |
incl |
533.0 |
561.0 |
28.0 |
14.3 |
3.00 |
1.87 |
122.4 |
5.44 |
incl |
631.9 |
634.1 |
2.2 |
1.1 |
5.36 |
0.97 |
94.0 |
6.89 |
incl |
722.4 |
733.3 |
10.9 |
5.6 |
2.99 |
1.76 |
12.5 |
4.39 |
incl |
884.0 |
886.6 |
2.6 |
1.3 |
2.62 |
0.82 |
116.2 |
4.24 |
incl |
953.6 |
960.0 |
6.4 |
3.3 |
7.42 |
0.72 |
98.4 |
8.82 |
Copper equivalent for drill intersections is calculated based on |
DPDH010 was reported to a depth of 355.3m on
DPDH011 was collared 80m northeast of DPDH010 on Section 6275N and drilled to the west at an angle of -62 degrees to a total depth of 419m. The hole intersected 3 discrete mineralized structures.
DPDH014 was collared 50m east and 50m south of DPDH007 on Section 6225N and drilled to the west at -55 degrees to a total depth of 976.8m, intended to test the down-dip extent of the high-grade zone in DPDH007. A thick section of high-grade mineralization from 171.2m to 243.0m correlates very well with the zone in DPDH007 and is 90m away from it. Both intersections have high precious metal grades, supporting the interpretation that they represent the same zone. This zone remains open in all directions beyond DPDH014. From 533m to 960m the hole intersected both stockwork and disseminated mineralization and a series of discrete high-grade structures.
Full assay results have now been reported for ten holes at Lunahuasi (including six holes from last season) and drilling is beginning to outline a significant copper, gold and silver deposit. Mineralization has been intersected over:
- An east/west distance of 750m from DPDH014 at 60.0m to DPDH010 at 1,070.2m;
- A north/south distance of 180m from DPDH008 at 61.7m to DPDH002 at 648.0m;
- A vertical distance of 890m from DPDH005 at 32.0m to DPDH005 at 989.0m.
The deposit remains open in all directions beyond these dimensions.
Mineralization is remarkably consistent across this volume, typically occurring as mixed coarse-grained pyrite, enargite and lesser covellite, ranging from disseminations through semi-massive and breccia-fill textures to massive sulphide zones up to several metres in core length. There appears to be a transition from discreet high-grade structures separated by unmineralized and propylitically altered wall rock in the east towards higher temperature alteration and stockwork and disseminated mineralization to the west. This style of mineralization is typified by DPDH010 between 609.3m and 1,070.2m and DPDH014 from 533.0m to 960.0m and is comprised of almost continuous alteration of the host rhyolite and andesite cut by an apparent stockwork of massive sulphide veins ranging from 5cm to 5m thick.
Drilling is continuing with four rigs currently active. Holes DPDH001 through DPDH008 were completed and reported last season, and four holes from the current season, DPDH009, DPDH010, DPDH011 and DPDH014 have now been reported. A total of 15,000m is planned for the current program with 8,614m drilled to date. In addition to the holes reported here, five holes have been completed to date (DPDH012 to 704.0m, DPDH013 to 1,033.4m, DPDH015 to 917.5m, DPDH016 to 773.0m and DPDH017 to 393.0m) and four holes are currently in progress (DPDH018 at 1,052.0m, DPDH019 at 317.0m, DPDH020 at 233.0m and DPDH021 at 143.5m). Assays have been received for 3,485m of the current program with the remainder pending. Assay results for completed holes will be released as they are received, analyzed, and confirmed by the Company.
Table 2: Drill Hole Information
Hole ID |
East |
North |
Elev (masl) |
Azimuth |
Dip |
Length |
Status |
DPDH009 |
439040 |
6856277 |
4,683 |
263.59 |
-59.27 |
582.0 |
Completed |
DPDH010 |
439035 |
6856223 |
4,684 |
269.75 |
-55.08 |
1,070.2 |
Completed |
DPDH011 |
439090 |
6856275 |
4,658 |
270.22 |
-61.82 |
419.0 |
Completed |
DPDH012 |
439195 |
6856275 |
4,626 |
269.55 |
-57.95 |
704.0 |
Completed |
DPDH013 |
439090 |
6856224 |
4,663 |
272.42 |
-55.27 |
1,033.4 |
Completed |
DPDH014 |
439190 |
6856224 |
4,634 |
270.71 |
-55.63 |
976.8 |
Completed |
DPDH015 |
439040 |
6856224 |
4,682 |
268.77 |
-43.71 |
917.4 |
Completed |
DPDH016 |
439140 |
6856125 |
4,659 |
270.48 |
-46.03 |
772.7 |
Completed |
DPDH017 |
440255 |
6855875 |
4,542 |
134.97 |
-55.23 |
393.0 |
Completed |
DPDH018 |
439214 |
6856000 |
4,705 |
283.78 |
-44.24 |
1,052.0 |
Ongoing |
DPDH019 |
437555 |
6855951 |
5,358 |
069.83 |
-60.91 |
317.0 |
Ongoing |
DPDH020 |
439294 |
6856188 |
4,657 |
266.75 |
-54.55 |
233.0 |
Ongoing |
DPDH021 |
439222 |
6855912 |
4,743 |
265 |
-45 |
143.5 |
Ongoing |
The scientific and technical disclosure included in this news release have been reviewed and approved by
Samples were cut at NGEx's operations base in
Copper equivalent for drill intersections is calculated based on
The Company is currently listed on the
Additional information relating to
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Certain statements made and information contained herein in the news release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking information"). All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to, statements regarding: the nature and timing of the work to be undertaken to advance the
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The forward-looking information contained in this news release is based on information available to the Company as at the date of this news release. Except as required under applicable securities legislation, the Company does not undertake any obligation to publicly update and/or revise any of the included forward-looking information, whether as a result of additional information, future events and/or otherwise. Forward-looking information is provided for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of the Company's operating environment. Although the Company has attempted to identify important factors that would cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All the forward-looking information contained in this document is qualified by these cautionary statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof.
Information concerning the mineral properties of the Company contained in this news release has been prepared in accordance with the requirements of Canadian securities laws, which differ in material respects from the requirements of securities laws of
Figure 1: Lunahuasi Plan View With Surface Geology
Figure 2: Enlarged Lunahuasi Plan View With Surface Geology
Copper equivalent is calculated based on |
SOURCE