NGEx Welcomes Lundin Mining as New Partner at Los Helados
Lundin Mining enters Los Helados as NGEx hits 1.2km copper-gold intercept at Lunahuasi
The most recent news (March 11, 2026) announces that Lundin Mining has acquired a 30.9% interest in the Los Helados Project from Nippon Caserones LLC. This follows a string of high-impact exploration results from the 100%-owned Lunahuasi project in Argentina, including a massive 1,246.5m intercept at 0.86% CuEq (Feb 10, 2026) and the receipt of environmental approval (EIS) for an exploration adit at Lunahuasi (March 9, 2026). NGEx remains the operator and majority owner (approx. 69%) of Los Helados.
The entry of Lundin Mining as a direct partner at Los Helados is a significant de-risking event. It aligns the project with the neighboring Caserones mine infrastructure, potentially enabling a lower-CAPEX development path via ore-sharing or mill integration.
Simultaneously, the Lunahuasi results (Phase 4) are proving the "giant system" thesis. The 1.2km intercept in hole DPDH049 confirms a massive mineralized envelope, while hole DPDH057 (131m at 5.09% CuEq) demonstrates high-grade continuity near the surface. The EIS approval for the exploration adit is a critical permitting milestone that transitions the project from surface drilling to underground bulk sampling and definition, targeted for Q4 2026.
NGEx Minerals is a Lundin Group company focused on the Vicuña District (Chile/Argentina). - Lunahuasi (Argentina): 100% owned. A high-grade copper-gold-silver discovery. Recent drilling has defined a mineralized volume of at least 1.2km in all dimensions. - Los Helados (Chile): ~69% owned. One of the world's largest undeveloped copper-gold resources (Indicated: 2.1 billion tonnes at 0.40% Cu, 0.15 g/t Au).