NGEx Minerals (ASX: NGEx) has announced a significant discovery at its Lunahuasi project in San Juan, Argentina, with the confirmation of a substantial copper/gold porphyry system beneath high-grade, high-sulphidation (HS) epithermal mineralisation. The discovery has led to a notable increase in the company’s share price.
The breakthrough came from drillhole DPDH027, which intersected 1,619.4 meters grading 0.87% copper equivalent (CuEq), beginning at a depth of 385.6 meters. The results included a high-grade section of 876.4 meters at 1.13% CuEq, featuring disseminated, stockwork, and lode-style HS mineralisation. Notably, the hole contained a standout interval of 205.05 meters at 2.04% CuEq from 590.65 meters.
Porphyry-style mineralisation was encountered at a depth of 1,262 meters and continued to the end of the hole, 2,005 meters deep, where it returned 743 meters at 0.56% CuEq. Within this section, high-grade intervals were observed, including 18 meters at 2.68% CuEq and 17.8 meters at 1.23% CuEq.
A second drillhole, DPDH029, located 500 meters south of DPDH027, also returned promising results. The hole intersected 823.1 meters at 1.17% CuEq from a depth of 776.9 meters. Notable high-grade intervals included 157.7 meters at 2.18% CuEq from the start of mineralisation, 38.9 meters at 4.35% CuEq from 870.7 meters, and 153.5 meters at 1.98% CuEq from 1,207.5 meters. A standout intercept of 9 meters at 7.33% CuEq was recorded at 1,352 meters.
NGEx president and CEO, Wojtek Wodzicki, highlighted the significance of these results, stating, “Drillhole DPDH027 opens up an entirely new dimension for the Lunahuasi project. The discovery of a large copper/gold porphyry system associated with high-grade vein-hosted HS mineralisation confirms our geological interpretation from the outset.”
Wodzicki emphasized that the confirmation of the porphyry system significantly enhances the long-term value of Lunahuasi. The HS mineralisation continues to expand, with DPDH029 extending the mineralisation by over 400 meters to the south of DPDH027. This brings the north-south extent of the high-grade zone to over 1,100 meters, with potential for further expansion in all directions.
NGEx’s recent success adds a new layer of excitement to the Lunahuasi project, positioning the company for continued growth and increased investor interest in the years ahead.
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