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PPX Mining Corp.
Summary
| Project: | Igor | |
|---|---|---|
| Deposit: | Portachuelos | |
| Location: | Peru | |
| Commodities: | Gold-Silver | |
| Date: | 3/19/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-3-2018: PPX Mining Corp. announces an Exploration/Drilling Update report for its Portachuelos deposit at the Igor project. Drilling results incl. 35.1m @ 2.15g/t Au, 25.9g/t Ag from 256.0m. Vancouver, British Columbia – March 19, 2018 – PPX Mining Corp | |
| Resources: | (Resource, Inf.): 7.189Mt @ 1.94g/t Au, 71.8g/t Ag at project | |
| CP/QP: | [Overall Report]: Quentin J. Browne (Independent) | |
| ABSTRACT: | Vancouver, British Columbia – March 19, 2018 – PPX Mining Corp. (the "Company" or “PPX”) is pleased to announce that a second thick zone of gold and silver mineralization had been intercepted in diamond drill hole CA-18-94: 35.1m grading 2.15 gpt Au, 25.9 gpt Ag (2.49 gpt Au Eq) including a high grade interval of 2.9m grading 22.34 gpt Au, 12.0 gpt Ag (22.50 gpt Au Eq) at a vertical depth of over 300 metres. The gold and silver mineralization is completely oxidized and is open in all directions, vertically and laterally. Analogous to the thick zone of gold and silver mineralization hit much higher in drill hole CA-18-94 (please see press release dated March 3, 2018), this deeper mineralization is hosted by tectonic and hydrothermal breccia within a clastic sedimentary rock sequence. The deeper zone is distinct and separate from the mineralized zone cut higher in the hole and appears to parallel the shallow zone to the east. Assays are pending for the balance of drill hole CA-18-94, an additional 65.7 metres (total depth of drill hole -94 is 390.1m). Taken together, these thick zones of gold and silver mineralization greatly expand the resource potential of the Portachuelos area; follow-up drilling targeting both mineralized zones is currently being planned. Callanquitas In-Fill Drilling: Diamond core drilling at the north end of the Callanquitas gold and silver resource area has intercepted a new zone of mineralization on the Callanquitas structure: 3.0m grading 7.11 gpt Au, 9.6 gpt Ag (7.24 gpt Au Eq). This drill hole (CA-18-95) cut the Callanquitas structure 50 metres vertically below the pierce point of drill CA-18-93, a drill hole that returned no significant assay values. Drill hole -95 therefore opens up a new area of higher grade gold and silver mineralization on the Callanquitas structure; it should be noted that in adjacent drill sections, high grade gold and silver extends to depths almost 200 metres below the intercept reported here. An additional drill hole has been added to the Callanquitas in-fill drilling program to test the down-dip extension of this high grade intercept. | |
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