NGEx Resources (TSX: NGQ) added more than a hundred metres to the western extent of the higher-grade zone of its Los Helados project, a deep copper-gold porphyry about 170 kilometres southwest of Copiapó, Chile.
Along a roughly 500-metre-long portion at the western edge of the deposit, three drillholes made significant strides for NGEx, with one cutting a 700-metre long intercept into Los Helados’ higher-grade zone. The drill results were the last of NGEx’s latest drilling campaign designed to test the limits of copper-gold mineralization at Los Helados, in which it has a 60-percent interest. Japan, Oil, Gas, and Metals National Corporation holds the balance.
Drillhole 24 returned as much as 728 metres @ 0.551 percent copper and 0.24 g/t gold starting 164 metres downhole. As for the other two, the best intercept in hole 22 was 456 metres @ 0.507 percent Cu and 0.187 g/t Au, while hole 23 hit as much 217 metres @ 0.698 percent Cu and 0.445 g/t Au.
Summing up his feelings on the drill results, Wojtek Wodzicki, NGEx president and CEO said in a prepared statement that, “We continue to be encouraged by both the length and grade of the intercepts and by the fact that the drill holes contain long intervals of better than 0.6 percent copper plus gold.”
The drilling results were also notable for depth – the deepest NGEx has drilled to date. Wodzicki noted one hole stretched the higher-grade zone to nearly 900 metres depth and ended in mineralization.
Laterally speaking, with these last assays of the drill season in, the amoebic-shaped higher-grade zone grew to about 600 metres by 500 metres. Though the next phase of drilling, which NGEx plans to start up in November, is primarily an infill program designed to better model known mineralization, NGEx is, as previously reported on Mineweb, bringing on board drill rigs with greater reach than those it has been using.
Drilling below a kilometre in depth, they will test for a high-grade core to the porphyry system.
Over the past five months news from Los Helados has dominated NGEx’s press-release mill. However, with drills quiet at Los Helados until the end of the year, presumably exploration news from NGEx’s well-stocked stable of projects will fill the interim.
In a February corporate update, NGEx noted that by April it would have five of its own drill programs underway beyond Los Helados. That is on top of its boot and hammer efforts at other properties and a JV project in BC with Teck where NGEx said drilling would start this month. (As of presstime NGEx had not responded to a call for more details on the status of its drill programs.)
Three of NGEx’s drilling targets are in South America – Josemaria and Fila del Sol in Argentina, and Colmillos in Chile – while the fourth and fifth, the Bada Potash project and a VMS play near Nevsun’s Bisha mine, are nearly half a world away in Eritrea. Of those three Josemaria is the most advanced with an inferred resource of 460 million tonnes @ 0.4% Cu and 0.3 g/t Au.