NGEx Minerals drills 2.31% CuEq over 429.4 metres at Lunahuasi, Argentina

NGEx Minerals Ltd. [TSX-NGEX; OTCQX-NGXXF] released drill results from hole DPDH018 from the Lunahuasi project, located in the Vicuna district in San Juan province, Argentina.

Highlights: Drillhole DPDH018 intersected 5.7 metres at 10.38% copper equivalent (CuEq) from 413.3 metres, plus 14.0m at 5.80% CuEq from 461.0m, plus 429.4m at 2.31% CuEq from 738.0m, including 102.7m at 4.26% CuEq from 741.3m, including 13.2m at 16.24% CuEq from 827.9m, plus 3.1m at 16.54% CuEq from 896.4m, plus 11.0m at 8.06% CuEq from 1142.0m, plus 3.5m at 10.31% CuEq from 1159.4m.

The hole ended in mineralization with the final 20.4 metres averaging 3.37% CuEq (2.87% Cu, 0.45 g/t Au, 20.2 g/t Ag).

Wojtek Wodzicki, President and CEO, commented, “These latest results confirm the pattern seen in earlier drill holes with high-grade structures intersected over the full length of the hole and the intensity of stockwork mineralization between the individual high-grade structures increasing from east to west. This pattern reflects an increase in alteration and mineralization intensity towards the west which we believe is giving us a vector towards the centre of the system.

“The idea of the centre of the system lying to the west is supported by the surface geology, which includes an area of intense surface alteration centered between the collar of hole DPDH019 and the bottom of DPDH018. This is a style of alteration that typically occurs vertically above porphyry centres. Despite the grades seen in this drill hole, the alteration is suggesting that although we are getting closer, we are still not in the heart of the system.

“The fact that this drill hole intersects very high-grade mineralization near its end, including intervals at 8.06% CuEq and 10.31% CuEq, bodes well for the potential to extend mineralization to the west and to depth and perhaps hints at the strength of the underlying porphyry system that fed the mineralization drilled to date.”

DPDH018 was collared on Section 6000N, 125m south and 75m east of DPDH016, and drilled towards the west at -45 degrees to a final depth of 1,167.4m where it was ended due to rig capacity. The hole ended in mineralization with the final 20.4m averaging 3.37% CuEq (2.87% Cu, 0.45 g/t Au, 20.2 g/t Ag).

Drilling is now complete for this season. NGEx has demobilized all personnel and equipment from the field and is focused on processing the remaining core, completing our geological interpretation, and beginning to plan for the next drill program to begin in or around early Q4 2024. Holes DPDH009 through DPDH016 and DPDH018 have been reported, with assays from another 5,309m from holes DPDH017, and DPDH019 through DPDH023 still pending. Assay results for completed holes will be released as they are received, analyzed, and confirmed by the company.

NGEx Minerals is focused on exploration of the Lunahuasi copper-gold-silver project in San Juan Province, Argentina, and the nearby Los Helados copper-gold project located approximately 9 km northeast in Chile’s Region III. Both projects are located within the Vicuna District, which includes the Caserones mine, and the Josemaria and Filo del Sol deposits.

NGEx owns 100% of Lunahuasi and is the majority partner and operator for the Los Helados project, subject to a Joint Exploration Agreement with Nippon Caserones Resources LLC, which is the indirect 49% owner of the operating Caserones open pit copper mine located approximately 17 km north of Los Helados. Lundin Mining Corporation holds the remaining 51% stake in Caserones.

NGEx is part of the Lundin Group of Companies.