TORONTO, ON / ACCESS Newswire / May 26, 2025 / PPX Mining Corp. (TSXV:PPX)(BVL:PPX) (the "Company" or "PPX")is pleased to announce a significant expansion of its ongoing diamond drilling campaign. The current program, originally planned for 2,300 meters, has been extended to a total of 4,200 meters. This extension aims to meaningfully increase the Company's mineral resource base at its Callanquitas Mine.
Highlights:
The decision to extend the drilling program was jointly made by PPX's geological team and their counterparts at Proyectos La Patagonia S.A.C., the Company's mining partner at the Callanquitas Mine.
The drilling of the Callanquitas West structure ("CW"), parallel formation to the Eastern structure which has been mined to date, will be extended with the objective of establishing a resource. The CW structure has a surface expression showing high-grades and the southern extension has been mined in the past. The first two holes (see press release dated May 13th, 2025) showed the presence of oxidized breccia with significant gold grades and appears to mirror the Callanquitas East structure.
The drilling plan for the area where a tensional fault was identified in 2024 and reported in a press release dated March 7 (hole CA-24-07) has been extended as this zone appears to have potential for high grade sulfide ore, as the drill results gave a 9.2 meters intersection with 10.3 g/t gold and 1670 g/t silver. Drilling will be completed for two more holes targeting CW, the drill will then be moved to drill the area of the tensional fault.
All drilling will be carried out from underground, two drill chambers are ready for use, a third will be excavated for drilling the northern end of CW. Using underground drilling reduces the length of the drill holed required and eliminates any delays associated with permitting surface drilling.
The cost of the extended program is estimated to be US$1,215,000, including taxes.
All scientific and technical information contained in this press release has been reviewed and approved by Eddy Canova, PGeo., External Consulting Geologist of PPX Mining Corp., who is a qualified person within the meaning of National Instrument 43-101.
On behalf of the Board Members
John Thomas
Chief Executive Officer
82 Richmond Street East
Toronto, Ontario M5C 1P1
Canada
416-361-0737
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain disclosures in this release may constitute "forward-looking statements" within the meaning of the United States Securities Litigation Reform Act of 1995 and the Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that it believes are reasonable. However, forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties are detailed from time to time in the Company's filings with relevant securities commissions, and may include, but are not limited to, market conditions, and delays in obtaining or failing to obtain regulatory approvals or financing. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking statements. The Company has no intention, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: PPX Mining Corp.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/ppx-mining-announces-an-extension-of-the-drill-program-for-the-callanquitas-gold-1031814
