NGEx Intersects 1,090 Metres at 0.69% Copper Equivalent at Los Helados Copper-Gold Porphyry Project, Chile
VANCOUVER, BRITISH COLUMBIA - April 27, 2012 - NGEx Resources Inc. NGQ/TSXV is pleased to announce outstanding results from the first 7 holes drilled as part the ongoing 2012 exploration program at the Company's Los Helados copper-gold porphyry project located in Region III of Chile.
Highlights from the results reported today include: LHDH17A with 1,090m of 0.69% CuEq (0.51% Cu and 0.26 gpt Au); LHDH23A with 937m of 0.66% CuEq (0.47% Cu and 0.27 gpt Au); and LHDH28 with 746.6m of 0.66% CuEq (0.54% Cu and 0.19 gpt Au).
Holes LHDH17A, LHDH23A and LHDH25A are extensions of previously released 2011 holes (LHDH17, LHDH23 and LHDH25) that bottomed in mineralization and were re-entered and deepened this year. Holes LHDH26, LHDH28 and LHDH29 are step-out holes to the west of the deposit and hole LHDH30 is a step-out to the north. Please see drill results table below and attached section and drill hole location map.
To view the section and drill hole map please visit the following link: media3.marketwire.com.
These new drill holes have expanded the Los Helados deposit to the west and north and demonstrate that the copper-gold mineralization extends from surface to a vertical depth of more than 1,000 metres. All holes in this release were terminated due to depth capacity of the drills and ended in mineralization.
Wojtek Wodzicki, President and CEO of the Company, commented, "We are very pleased with the initial results from this year's drill program at Los Helados which have significantly extended the mineralization both laterally and to depth. Including the drill holes released today copper gold mineralization has now been intersected over an area of approximately 1000 metres east-west by 750 metres north-south and over a vertical interval of approximately 1000 metres. The mineralization remains open in all directions and at depth and we look forward to continued expansion success. Copper-gold intercepts of over 1000 metres are extremely rare and the results announced today are highly encouraging and confirm Los Helados as a major copper gold discovery. We have an aggressive program underway with 11 rigs currently drilling on the project. We are very excited about today's results and in particular what it means in terms of the big picture as Los Helados is part of an extensive land package that also includes the Company's Josemaria and File del Sol projects copper-gold projects. Taken together we feel that these projects offer our investors exposure to an emerging deposit cluster that continues to deliver outstanding exploration results and has the potential to rank among the most significant in this prolific copper-gold belt."
The results reported today are from the first 7 holes from this year's drill program representing 6,708 metres of core drilling. |
