NGEx Resources has reported significant drill results from the initial seven holes drilled at its Los Helados copper-gold porphyry project in Region III of Chile.
Drill highlights include hole LHDH17A with 1,090 m of 0.69% copper equivalent, hole LHDH23A with 937 m of 0.66% copper equivalent, and hole LHDH28 with 746.6 m of 0.66% copper equivalent. These holes are extensions of the prior released 2011 holes that were re-entered and further deepened this year.
LHDH29, LHDH28 and LHDH26 are step-out holes that are located to the deposit’s west and LHDH30 is a step-out hole located towards the north. The new drill holes have extended the Los Helados deposit to the north and west and show that the copper-gold mineralization continues from surface to a vertical depth of over 1,000 m. All holes ended in mineralization, but were terminated in view of the drills’ depth capacity.
NGEx Resources’ President and CEO, Wojtek Wodzicki stated that the company is happy with the preliminary copper-gold intercepts of more than 1000 m which are quite rare, and the latest results validate Los Helados as an important copper gold discovery. Presently, 11 rigs are being drilling on the project. Wodzicki added that the Los Helados deposit is part of a comprehensive land package, which also comprises the File del Sol and Josemaria copper-gold projects owned by the company. Combined together, these projects continue to provide excellent exploration results and appear to the most significant in the copper-gold belt.
The company is working towards a preliminary mineral resource estimate that is likely to be concluded in the Q4 of 2012. Additional drill results from Los Helados, Josemaria and Filo del Sol projects are anticipated in the forthcoming weeks.
Source: http://www.ngexresources.com/s