NGEx Minerals Ltd. (NGEx Minerals Ltd.) announced the initial results from the third phase of drilling at its high-grade copper-gold-silver project, Lunahuasi, located in San Juan Province, Argentina.
Drilling commenced in mid-October 2024, with six diamond drill rigs operating at the project.
These newly released results pertain only to the upper portions of the first two drill holes.
Key mineralization highlights include:
◎ Drill hole DPDH024 intersected 86.6 meters of mineralization at a depth of 89.4 meters, with a copper equivalent grade of 4.39%. This includes 12.25 meters of mineralization at a depth of 139.75 meters, with a copper equivalent grade of 23.35%. As of November 29, the hole reached a final depth of 968 meters, with assay results currently available for only the upper 394 meters.
◎ Drill hole DPDH025 intersected 51.4 meters of mineralization at a depth of 143.8 meters, with a copper equivalent grade of 3.69%. This includes 11.9 meters of mineralization at a depth of 143.8 meters, with a copper equivalent grade of 10.74%. This hole is still being drilled, with a current depth of 1,100 meters, and assay results are available for only the upper 271 meters.
The company stated that the preliminary assay results from the upper portions of the first two drill holes exceeded expectations. Notably, hole DPDH024 demonstrated exceptionally high grades, indicating that Lunahuasi is not only a high-grade gold deposit but also a significant copper and silver deposit. Hole DPDH025 is also significant as it suggests that the mineralization system continues to extend northward. To date, 6,500 meters of drilling have been completed, and the drilling program is progressing ahead of expectations.
The company disclosed that three ongoing drill holes have depths exceeding 1,000 meters, with two of them planned to reach at least 2,000 meters.
