NGEx Reports Lunahuasi Step-Out Drilling Intersects 726.5m at 1.66% Copper Equivalent ("CuEq") and 58.1m at 6.04% CuEq, including 4.8m at 41.12% CuEq, Significantly Expanding High-Grade Mineralization

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VANCOUVER, BC, June 19, 2024 /CNW/ - NGEx Minerals Ltd. ("NGEx", "NGEx Minerals" or the "Company") (TSX: NGEX) (OTCQX: NGXXF) is pleased to report drill results from holes DPDH019 through DPDH023 from the Lunahuasi Project located in the Vicu?a District in San Juan Province, Argentina. These results conclude a very successful 2023 – 2024 drill program that has begun to outline a very large volume of altered and mineralized rock characterized by stockwork and disseminated mineralization, increasing in intensity from east to west and with depth, cut by a swarm of mineralized structures consisting of breccias, networks of veinlets, and massive sulphide veins which occur throughout the entire volume drilled to date. These structures contain bonanza-grade copper, gold and silver values. Drilling to date has intersected mineralization across a minimum east-west distance of 900m, along a minimum north-south distance of 400m and at least 960m vertically and this volume remains open in all directions. View PDF

Wojtek Wodzicki, President and CEO, commented, "These latest results cap off a remarkably successful drill program at Lunahuasi, which continues to surprise to the upside and to deliver some of the highest-grade copper, gold, silver intercepts globally and is now beginning to demonstrate meaningful size potential in addition to very high grades. Drilling this season has significantly expanded the mineralized volume which remains open in all directions with most holes ending in good grade material. With cash and short-term investments of approximately $49 million currently, the Company is well-positioned to continue to expand what is shaping up to be a large and high-grade deposit in a district that is demonstrating globally significant scale."

The Company will host webinars on June 19 and June 21, 2024, to discuss the Lunahuasi drill results and provide a general corporate update. For details on the webinars, please refer to the "Upcoming Webinars" section of this news release.

Highlights

  • Drillhole DPDH020 intersected 750.1m at 1.13% CuEq from 204.0m, including:

    • 17.3m at 5.94% CuEq from 589.8m

  • Drillhole DPDH021 intersected 772.5m at 1.60% CuEq from 430.0m, including:

    • 58.1m at 6.04% CuEq from 438.0m

      • Including 20.1m at 15.05% CuEq from 476.0m which included

      • 4.8m at 41.12% CuEq from 480.5m

    • 6.0m at 19.62% CuEq from 614.0m

    • 7.1m at 9.57% CuEq from 810.0m

    • Extends the strike length of the Lunahuasi Deposit to at least 400m

  • Drillhole DPDH022 intersected 726.5m at 1.66% CuEq from 380.0m, including:

    • 157.0m at 4.37% CuEq from 380.0m which included

      • 38.9m at 10.04 g/t Au from 408.0m

      • 9.3m at 11.61% CuEq from 492.7m

    • 5.8m at 8.73% CuEq from 807.0m

    • 9.6m at 10.08% CuEq from 972.5m

  • Drillhole DPDH023 intersected 85.0m at 2.87% CuEq from 169.0m, including:

    • 10.1m at 4.65% CuEq from 184.0m

    • 6.0m at 12.39% CuEq from 248.0m