PPX drills 0.7 m of 18.91 g/t Au at Callanquitas West

Executive Summary

• PPX Mining reported multiple high‑grade gold‑silver intercepts from four underground drill holes (CA‑25‑17 to CA‑25‑20) in the Callanquitas breccia system.
• The most notable intervals include 5.00 g/t Au & 142 g/t Ag over 0.70 m (hole CA‑25‑17) and 5.16 g/t Au & 306 g/t Ag over 2.0 m (hole CA‑25‑20).
• Results demonstrate wide mineralized thicknesses and continuity of the Callanquitas West breccia, supporting further drilling to define ore potential.

Key Details

• Program Overview: 4,300 m underground diamond drilling coordinated with partner Proyectos La Patagonia S.A.C. (PLP); two chambers: Chamber 5 (Callanquitas West) and Chamber 4 (Callanquitas East).
• Hole CA‑25‑17 (West): 5.00 g/t Au & 142 g/t Ag over 0.70 m; located 100 m below hole CA‑25‑11 and 100 m south of CA‑25‑13; confirms ~300 m of mineralization trending from surface at 3,100 m elevation.
• Hole CA‑25‑18 (East – oxide zone): 1.53 g/t Au & 86.3 g/t Ag over 0.4 m; also reported as 0.54 g/t Au & 83.2 g/t Ag over 2.5 m in later description.
• Hole CA‑25‑19 (East – mixed zone): Multiple intervals, highest: 5.62 g/t Au & 428 g/t Ag over 5.2 m; overall 3.18 g/t Au & 257.7 g/t Ag over 11.1 m.
• Hole CA‑25‑20 (East – mixed/sulphide zone): Reported intervals:
• 1.95 g/t Au & 239.2 g/t Ag over 8.6 m (including 5.16 g/t Au & 306 g/t Ag over 2 m).
• 1.00 g/t Au & 103.5 g/t Ag over 9.20 m (including 2.56 g/t Au & 207 g/t Ag over 1.1 m).
• Final 60 m pending assay results.
• Drilling Parameters: All holes drilled with HQ3 (63.5 mm) core; depth range 200–250 m; sampling conducted per QA/QC protocols, shipped to SGS Peru laboratory for fire‑assay (Au) and ICP‑MS (Ag).
• Geological Context: Callanquitas breccias consist of quartz arenites, siltstones, sandstones, dacites with sericite‑quartz alteration; mineralization hosted in iron oxide matrices (goethite, limonite) and includes sulphide, mixed, and oxide zones.
• CEO Comment (John Thomas): Emphasized “very wide thicknesses and significant Au and Ag grades,” noting that the results bring the project closer to defining pure sulphide zones and will guide orientation of future drilling.
• Technical Review: Information reviewed and approved by Eddy Canova, P.Geo., qualified person under NI 43‑101.

Notable Quotes

“Deep drilling from chamber 4 reveals several mineralized structures with very wide thicknesses and significant Au and Ag grades… These holes will help us define the orientation of the new drilling, and, in turn, define the potential in the Callanquitas breccia and tensional sulphide veins located in this area.” – John Thomas, CEO, PPX Mining Corp.