NGEx Minerals reports drilling results, claims ‘major high-grade discovery’

Credit: NGEx Minerals

NGEx Minerals (TSXV: NGEX) has reported results from the final seven diamond drill holes from this season’s program at the Potro Cliffs project, confirming a major new high-grade copper-gold-silver discovery named Lunahuasi. Lunahuasi, located in the San Juan province of Argentina, is the fourth greenfield discovery made by the Lundin Group within the Vicuña District, joining the Filo del Sol, Los Helados, and Josemaria deposits.

Top results from the drill program include:

1. Drillhole DPDH002, the discovery hole, intersected multiple high-grade vein intersections, including 60 metres at 7.5% copper-equivalent from 212 metres, including 10 metres at 18% and 6 metres at 14%.

2. Drillhole DPDH007 intersected multiple high-grade vein intersections, including 90 metres at 4% copper-equivalent from 74 metres, including 2.2 metres at 32.7% (including 35 g/t gold), and 21 metres at 8.1% copper-equivalent from 439 metres.

3. Drillhole DPDH005 intersected multiple high-grade vein intersections, including 33.4 metres at 3.5% copper-equivalent from 636 metres, including 2.0 metres at 26.6% and 1.8 metre at 12.9%.

President and CEO Wojtek Wodzicki stated, “These results are the best initial drill holes that I have seen in my career and they confirm Lunahuasi as NGEx’s next major high-grade discovery in the Vicuña District. We are very encouraged by both the quantity of veins and the consistently high grades intersected during what is only the first step in testing a very large alteration system.”

According to the company, the portion of the Lunahuasi target drilled to date comprises a large collection of quartz-sulphide veins carrying high values of copper, gold and silver. This mineralization is interpreted to be porphyry-related and is considered to be strong evidence for the presence of a nearby porphyry copper-gold system.

Drilling is now paused for winter in the southern hemisphere, with a major drill program expected to start early in the fourth quarter of 2023.

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