NGEx Minerals (TSX: NGEX) this morning released further assay results from drill holes conducted under a phase three drill program at their flagship Lunahuasi copper-gold-silver project in Argentina.
A total of four drill holes saw their results released this morning, while another four holes from the program have assays that are yet to be published. Highlights from the results include:
- DPDH040: 133.30 metres of 2.10% copper equivalent (1.01% copper, 0.95 g/t gold, and 44.5 g/t silver) from a depth of 523.00 metres
- DPDH041: 8.30 metres of 12.38% copper equivalent (7.77% copper, 4.01 g/t gold and 191.2 g/t silver) from a depth of 266.70 metres
- And 89.10 metres of 4.09% copper equivalent (2.93% copper, 1.11 g/t gold and 40.8 g/t silver) from a depth of 581.90 metres
- DPDH042: 48.90 metres of 7.75% copper equivalent (4.87% copper, 3.29% gold, and 54.7 g/t silver) from a depth of 281.70 metres
- And 2.30 metres of 23.82% copper equivalent (15.03% copper, 4.30 g/t gold, and 642.2 g/t silver) from a depth of 509.10 metres
- DPDH043: 46.80 metres of 9.55% copper equivalent (6.63% copper, 3.05 g/t gold and 79.2 g/t silver) from a depth of 492.20 metres
“The drill results in this release confirm and extend the known zones of high-grade mineralization, improve our understanding of the associated porphyry system and have discovered new zones, all while expanding the boundaries of the Lunahuasi deposit. [..] We now have enough confidence in the size and shape of three of these zones to provide them with names – the Mars, Saturn and Jupiter zones,” commented Wojtek Wodzicki, CEO of NGEx Minerals.
The three newly identified zones are said to be the first of what NGEx expects will be several distinct high-grade zones within the deposit. Jupiter is the first initial high grade zone discovered, while Mars is the shallow high-grade zone identified. Saturn is the southernmost zone. All three are said to remain open to expansion in all directions.
Additional holes, including DPDH040 and DPDH043 released today, are believed to show intersections that represent the discovery of further new high grade zones that require more drilling to be defined.
The phase three drill program saw a total of 25 holes drilled across 25,003 metres in aggregate. The program was completed May 8, with the geological interpretation of the results now the focus amid the winter season in the region. A phase four program is expected to be announced in the coming months.
NGEx Minerals last traded at $15.90 on the TSX.
Information for this briefing was found via the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
