Drill Results
NGEx Highlights Lunahuasi High-Grade Gold with 17.3m at 207.79 g/t Au, Including 2.00m at 1,740.00 g/t Au, plus 4.88m at 60.10 g/t Au
NGEx Minerals Confirms Ultra-High-Grade Gold at Lunahuasi as Phase 4 Drilling Concludes
Executive Summary
- Date: May 13, 2026
- Event Type: Drill Results (Phase 4 Completion)
- Headline: NGEx Highlights Lunahuasi High-Grade Gold with 17.3m at 207.79 g/t Au, Including 2.00m at 1,740.00 g/t Au, plus 4.88m at 60.10 g/t Au
- Key Intercepts:
- Hole DPDH070: 17.30m @ 207.79 g/t Au (incl. 2.00m @ 1,740.00 g/t Au).
- Hole DPDH063: 4.88m @ 60.10 g/t Au (incl. 1.38m @ 159.50 g/t Au).
- Hole DPDH062: 1,380.30m @ 0.57% Cu and 0.27 g/t Au (broad copper intercept).
- Program Status: Phase 4 drill program completed with 27,318m drilled across 32 holes. Assays for final twelve holes pending but results released in this release.
- Management Commentary: CEO Wojtek Wodzicki states high-grade gold quartz veins occur throughout the deposit and intersections remain open to expansion.
Material Impact
- Confirmation of Thesis: The news confirms the geological model established over the past 12 months, specifically the presence of ultra-high-grade gold veins within the broader copper-gold-silver system at Lunahuasi.
- Grade Significance: The 1,740 g/t Au intercept is exceptional and comparable to world-class gold-only deposits, reinforcing the project's potential for high-margin underground development.
- Program Completion: Completing Phase 4 (27,318m) validates the company's ability to execute its exploration plan funded by the $175M private placement in October 2025.
- Expectation vs. Reality: While high grades were anticipated given previous Phase 3 and early Phase 4 results (e.g., May 2025: 504 g/t Au), this release provides the final confirmation of the program's success without introducing a fundamentally new discovery paradigm beyond what was already priced in by the strategic financing.
- Market Reaction: The news is positive but largely incremental to the trajectory established since Q1 2026 earnings (May 8, 2026), which also highlighted Phase 4 completion and environmental approvals.
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Company Overview
- Company: NGEx Minerals Ltd. (TSX: NGEX).
- Flagship Project: Lunahuasi (San Juan Province, Argentina) - Copper-Gold-Silver deposit.
- Secondary Asset: Los Helados (Region III, Chile) - Joint Venture with Lundin Mining as minority partner.
- Project Status: Exploration phase transitioning to underground development feasibility (Adit approved).
- Mineralization Styles: High-sulphidation Cu-Au-Ag veins, intermediate sulphidation epithermal Au veins, disseminated stockwork mineralization, and a porphyry Cu-Au system.
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