PPX Receives Environmental Approval for 10,315 metre Drill Program at Portachuelos, Igor Project
PPX secures the Portachuelos drilling permit as its Igor processing plant nears commissioning.
PPX Mining Corp. received the Environmental Technical Sheet (FTA) from Peru's Ministry of Energy and Mines on August 11, 2026, authorizing 10,315 metres of diamond drilling across 58 holes at the Portachuelos area of the Igor Project. The company is processing the Authorization to Commence Activities and has initiated a tender to select a drilling contractor.
Drilling is scheduled to commence by late September 2026, with at least two rigs deployed to maximize activity within the 2026 calendar year. This marks the first surface drill program permit obtained since the previous permit expired in October 2019. The program targets historical mineralization, specifically referencing drill hole CA-18-94, which returned 6.0 metres grading 5.77 g/t Au, 443.8 g/t Ag, and 0.67% Cu.
PPX Mining Corp. (PPX) has reached a routine permitting milestone that aligns with its previously announced 2026 exploration plan, which called for 9,500 metres of drilling in April 2026. The authorized 10,315 metres slightly exceeds the prior plan, likely reflecting updated targeting or consolidated surface work.
The news does not alter near-term cash flows, production guidance, or the plant commissioning timeline. The market's reaction, characterized by price consolidation in the $0.20–$0.23 range post-October 2025 peak, suggests the exploration update was already telegraphed and priced in.
PPX Mining Corp. operates the Igor Project district in the La Libertad region of northern Peru, located approximately 140 km from Trujillo. The company’s core assets include the operating Callanquitas Mine, which focuses on oxide mining, along with the Callanquitas East, West, and South extensions, and the Portachuelos exploration area.
The company is currently constructing a 350 tpd carbon-in-leach (CIL) and flotation processing plant at an elevation of 3,500 masl. This facility is designed to produce gold-silver doré and precious metal concentrates. The project benefits from a 409 Ha surface rights holding and over 1,400 Ha of mining claims, with social agreements in place until 2028.