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NGEX Announces Final Assay Results In Argentina

Mining News - Published on Mon, 17 Jun 2019

Image Source: NGEX
NGEx Resources Inc announced final assay results from this season's diamond drill program at its 100% owned Josemaría Project in San Juan Province, Argentina. The program was designed to increase confidence in the mineral reserve, particularly the portion scheduled for the first five years of production in the Pre-Feasibility Study and to provide material for feasibility-level metallurgical testwork. The program was successful and achieved both objectives. This drilling was part of a comprehensive field program designed to collect information required for a Feasibility Study which is planned to be completed in 2020. A total of 6,570 meters in 22 reserve definition diamond drill holes and 4,051 meters in 7 geotechnical diamond drill holes was completed during the program. Assay results from 12 of the reserve definition drill holes were released on April 1, 2019 and assay results from the remaining 10 reserve definition holes and the 7 geotechnical holes are included here.

As the reserve definition holes were designed to test only the initial five-year pit shell, most ended in mineralization which would be mined after the initial five years and so represent only partial intersections of the entire orebody. The geotechnical holes were drilled in order to penetrate the planned final pit wall and typically drill through the whole orebody, or end in mineralization within the Inferred portion of the resource, which was not considered in the PFS mine plan.

Mr Wojtek Wodzicki CEO of NGEx Resources said that "Today's results cap a successful field season that included the reserve definition drilling highlighted here, as well as geotechnical drilling and successful drilling for project water supply. Together this work will provide information to support the Feasibility Study that is expected to be completed in 2020. Of particular note in the drill results today are the shallow, high-grade intervals in most of the holes which translate into high-grade production very early in the mine life, and the depth of mineralization in geotechnical hole JMGT07 which extends well below the limit of the current Inferred resource."

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Posted By : Sanju Moirangthem on Mon, 17 Jun 2019
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