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PPX Mining Corp.
Summary
| Project: | Igor | |
|---|---|---|
| Deposit: | Portachuelos | |
| Location: | Peru | |
| Commodities: | Gold-Silver | |
| Date: | 6/25/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-6-2018: PPX Mining Corp. announces an Exploration/Drilling Update report for its Portachuelos deposit at the Igor project. Drilling results incl. 31.9m @ 0.86g/t Au, 48.7g/t Ag from 419.6m. Vancouver, British Columbia – May 25, 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 – May 25, 2018 – PPX Mining Corp. (the "Company" or “PPX”) is pleased to announce that diamond core drilling at the new Portachuelos discovery has intercepted 31.9 metres grading 0.86 gpt Au, 48.7 gpt Ag, 1.51 gpt Au Eq in drill hole CA-18-99, the final drill hole of the current Portachuelos program. CA-18-99, oriented 036, -70 degrees, intercepted four mineralized zones as shown in the Table below: These mineralized zones correlate with multiple stacked mineralized breccias seen in adjacent drill holes which demonstrate that these breccia zones project from depth to the surface and confirm gold and silver mineralization over a vertical range in excess of 400 metres at Portachuelos. Based on the recently completed drilling, the Portachuelos system has a strike length of at least 1,000 metres. Mineralization remains open at depth, to the northwest, and to the southeast in the direction of the Tesoros drill target. A plan map depicting all the drill results to date at Portachuelos can be found on the Company’s web site: www.ppxmining.com . PPX is also pleased to announce that drilling has commenced at the Tesoros target located 1,500 metres southeast of Portachuelos. Historic drilling at Tesoros (17 drill holes totalling 1,769 metres) cut a thick, tabular breccia zone, analogous to Portachuelos, that can be traced in outcrop over a distance of over 1,000 metres. Highlights of historic drilling include drill hole 9d which cut 75.2 metres grading 3.10 gpt Au, 109 gpt Ag, 4.55 gpt Au Eq at an average vertical depth of 50 metres. Results from the initial drill holes are expected shortly. Brian J. Maher, President and CEO of PPX Mining commented: “The final drill hole of the Portachuelos drill campaign produced results consistent with earlier drilling: multiple stacked gold and silver mineralized breccias that correlate with mineralized horizons seen in adjacent drill holes. The volume of mineralized material seen at Portachuelos is impressive and underscores the intensity of mineralizing processes at Portachuelos. The robust nature of hydrothermal system is evidenced by the pervasive nature of gold and silver mineralization: the average grade of all intervals in drill hole CA-18-99 was 0.24 gpt Au Eq over nearly 560 metres. The Company is designing a second Phase of drilling at Portachuelos for the second half of 2018 with the objective of outlining the ultimate geometry of precious metal mineralization. | |
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