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NGEx Minerals Reports Q1 2023 Results; New Discovery in the Vicuña Metals District
VANCOUVER, BC, May 15, 2023 /CNW/ - NGEx Minerals Ltd. (TSXV: NGEX) ("NGEx Minerals" "NGEx" or the "Company") is pleased to report its results for the three mon
About this update from Ngex Minerals Ltd.
[{"type":"text","content":" VANCOUVER, BC, May 15, 2023 /CNW/ - NGEx Minerals Ltd. (TSXV: NGEX) (\"NGEx Minerals\" \"NGEx\" or the \"Company\") is pleased to report its results for the three months ended March 31, 2023. PDF version Wojtek Wodzicki, President and CEO commented, \"NGEx has continued its strong performance to start 2023, with exceptional exploration results reported from both the maiden drill campaign undertaken at the Potro Cliffs target, as well as the expansion drill program conducted at its cornerstone Los Helados project. The Company's second ever hole drilled at the prospective Potro Cliffs target returned some of the highest copper grades ever drilled in the Vicuña District, and the grade, thickness and style of mineralization encountered is suggestive of significant potential for a major porphyry copper-gold system in the area. At Los Helados, our 2022-2023 drill program has been successful at expanding and defining the recently discovered high-grade satellite Fenix and Alicanto Zones. Of particular note, holes completed in the Fenix Zone this season have returned some of the highest copper equivalent and molybdenum grades ever encountered at Los Helados, and demonstrate the potential of these satellite discoveries to significantly add to the Los Helados resource. Both programs are now winding down with the onset of winter in the Andes, and our team will take this time to analyze the results from this season's programs and plan for the upcoming 2023-2024 field season. With continued strength in the long-term outlook for copper, the recent consolidation of projects in and around the Vicuña District, and the growing significance of the Company's assets within the emerging metals district, NGEx sees clear opportunity to build on this season's exceptional results and to continue to create value for shareholders.\" Q1 2023 HIGHLIGHTS AND OUTLOOK DPDH002, the second hole of the maiden Potro Cliffs program, hit high-grade mineralization, highlighted by 60.0m at 7.52% copper equivalent (\"CuEq\") and 10.0m at 7.08% CuEq, including some of the highest grades intersected to date in the Vicuña District. 2022-2023 program at Los Helados extended both the Fenix and Alicanto Zones. The holes completed in the Fenix Zone returned some of the highest grades ever encountered at the deposit, demonstrating the remarkable potential value of the sat...