NGEx Minerals unveils major copper-gold porphyry discovery at Lunahuasi in Argentina

While NGEx continues to prioritize the high-grade HS system in near-term exploration, the confirmed porphyry center opens a new frontier for long-term resource growth.

Canadian exploration company NGEx Minerals (TSX: NGEX; OTCQX: NGXXF) has announced the discovery of a significant copper-gold porphyry system at its 100%-owned Lunahuasi project in San Juan Province, Argentina. The breakthrough was confirmed through deep drilling at hole DPDH027, which intersected over 1.6 kilometers of mineralization, including exceptionally high-grade zones of copper, gold, and silver.

The announcement positions Lunahuasi as a major new target within the Vicuña District—home to other major projects such as Los Helados, Josemaría, Filo del Sol, and Caserones—and underscores the project's growing long-term potential.

Key Drill Highlights:

Hole DPDH027 intersected 1,619.4 meters at 0.87% CuEq, including:

• 876.4 meters at 1.13% CuEq of high-sulphidation mineralization.
• 205.1 meters at 2.04% CuEq, with peak grades of 19.3 meters at 9.66% CuEq.
• Transition into porphyry-style mineralization starting at 1,262m depth, with 743.0 meters at 0.56% CuEq.

Hole DPDH029, the southernmost to date, intersected:

• 823.1 meters at 1.17% CuEq, including 38.9 meters at 4.35% CuEq and 9.0 meters at 7.33% CuEq.

NGEx President and CEO Wojtek Wodzicki emphasized that this discovery confirms a long-suspected geological model for Lunahuasi. “Drillhole DPDH027 opens up an entirely new dimension of the Lunahuasi project,” he noted. “We’ve confirmed the presence of a large porphyry system associated with high-grade high-sulphidation veins, adding significant long-term value to the project.”

Geological Significance

The drilling revealed a classic zonation of porphyry-style veining transitioning into mineralized diorite porphyry with potassic alteration—an indicator of proximity to a porphyry center. This zone hosts copper mineralization with chalcopyrite and bornite, in contrast to the enargite-dominant HS zones. The north-south extent of the mineralized system now exceeds 1,100 meters and remains open in all directions.

Future Outlook

With the Phase 3 drill program now complete, totaling over 25,000 meters across 24 holes, the company awaits results from 12 pending holes. While NGEx continues to prioritize the high-grade HS system in near-term exploration, the confirmed porphyry center opens a new frontier for long-term resource growth.