BUENOS AIRES, Argentina – NGEx Minerals, a company listed on the Toronto Stock Exchange (TSX) in Canada, has officially announced the discovery of a new mineralized zone at its Lunahuasi Project in San Juan Province, Argentina, capturing the attention of the global mining industry. The company reported the confirmation of a large-scale copper-gold porphyry system beneath a high-grade high-sulfidation (HS) epithermal mineralization. Following this news, NGEx Minerals' stock price surged by 15%, reaching CAD 14.12.
This discovery is expected to significantly elevate the potential of the Lunahuasi Project and inject new vitality into the mining development sector. The prospect of large-scale mine development is particularly significant given the increasing global demand for copper and gold.
Massive Potential Unveiled Through Deep Drilling
NGEx Minerals presented data from two drill holes as key evidence for this discovery.
Drill hole DPDH027 showed remarkable results from a depth of 385.6m to 1,619.4m, with a copper equivalent (CuEq) of 0.87%. Within this interval, an 876.4m section exhibited a high grade of 1.13% CuEq, confirmed within disseminated, stockwork, and vein-type high-sulfidation mineralization. Notably, a very high-grade section of 2.04% CuEq was identified from 590.65m to 205.05m, proving the richness of the mineralization.
More importantly, this drill hole entered porphyry-style mineralization at a depth of 1,262m, and the mineralization continued to the end of the drill hole at 2,005m. Over this 743m interval, 0.56% CuEq was confirmed, including high-grade sections of 2.68% CuEq over 18m and 1.23% CuEq over 17.8m, indicating the significant potential of the porphyry system.
Drill hole DPDH029, drilled 500m south of DPDH027, recorded 1.17% CuEq from a depth of 776.9m to 823.1m. This drill hole also confirmed high-grade mineralization from the start of the mineralization, including 2.18% CuEq over 157.7m, 4.35% CuEq over 38.9m from 870.7m, and 1.98% CuEq over 153.5m from 1,207.5m. Particularly exciting for mining industry officials was the overwhelmingly high result of 7.33% CuEq over 9m from 1,352m.
"An Entirely New Dimension" – Reassessing the Value of the Lunahuasi Project
Wojtek Wodzicki, President and CEO of NGEx Minerals, emphasized, "Drill hole DPDH027 has opened an entirely new dimension to the Lunahuasi project." He added, "The potential for a large-scale copper-gold porphyry system associated with the high-grade vein-type high-sulfidation mineralization has been part of our geological interpretation from the beginning, and we have now confirmed that we are on the right track."
Wodzicki stated that the confirmation of the porphyry system has "significantly increased" the long-term value of Lunahuasi. He also noted that the high-sulfidation system itself continues to expand, with drill hole DPDH029 extending the mineralization more than 400m south of DPDH027, increasing the north-south strike length of the core high-grade zone to over 1,100m. Currently, this mineralization remains open in all directions.
Emerging as a Key Project in the Vicuña Copper-Gold Mining District
The Lunahuasi Project forms part of the Vicuña Copper-Gold Mining District, located in the Andes Mountains. This region is already known for several large-scale porphyry and epithermal deposits, and in recent years, it has seen intense exploration and development competition among global mining companies. This latest discovery at the Lunahuasi Project further solidifies the potential of the Vicuña mining district and is expected to position NGEx Minerals as a major player in the region.
This discovery represents a significant milestone for NGEx Minerals in the field of mineral resource development. Future in-depth exploration and development plans for the Lunahuasi Project are now under close scrutiny. While fluctuations in copper and gold prices and international geopolitical situations significantly impact mine development, this discovery is expected to substantially increase the economic value of the Lunahuasi Project.
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