Announcement Date: 2022-02-28
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: NGEx Minerals Inc.
Project name: Valle Ancho
Location: Argentina
Commodities: Gold,Silver
Highlight: Drilling results incl. 150.0m @ 1.05g/t Au, 0.67g/t Ag from 0.0m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Vancouver, February 28, 2022 – NGEx Minerals Ltd. (TSXV: NGEX) (“NGEx Minerals” or the “Company”) is pleased to report initial drill results and an update on its ongoing drill program at the Valle Ancho copper-gold project in Catamarca Province, Argentina (the “Valle Ancho Project”). Highlights are listed below. Drill hole VADH001 returned 150m at 1.05 g/t Au from surface. The entire intercept is in oxidized rock. VAD001 was drilled from the same collar and parallel to an historic shallow reverse circulation hole which reported 84m at 1.15 g/t Au, and extended the mineralization seen in that hole by 42 metres. Drill hole VADH002, collared 75m west of VADH001 and drilled in the other direction, intersected 0.63 g/t Au over 198m from surface in oxidized rock, including a higher-grade interval of 0.90 g/t Au over 70m. This hole was a twin of an historic reverse-circulation hole which reported 1.02 g/t Au over 62m from surface, within a broader zone of 0.73 g/t Au over 110m, extending the mineralized zone by 88 metres Mineralization in both holes is associated with closely spaced quartz veinlets and is consistent with the style of mineralization seen in the nearby Maricunga District in Chile. The historic RC drilling combined with surface sampling has outlined an area of 300m x 750m with oxidized gold mineralization occurring in drillholes and surface trenches.
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