Business
NGEx Minerals Reports Q2 2025 Results; Porphyry and High-grade Gold Discoveries at Lunahuasi; Plan to Spin-out Royalties to Shareholders
VANCOUVER, BC, Aug. 11, 2025 /CNW/ - NGEx Minerals Ltd. ("NGEx Minerals" "NGEx" or the "Company") (TSX: NGEX) (OTCQX: NGXXF) is pleased to report its results fo
About this update from Ngex Minerals Ltd.
[{"type":"text","content":"VANCOUVER, BC, Aug. 11, 2025 /CNW/ - NGEx Minerals Ltd. (\"NGEx Minerals\" \"NGEx\" or the \"Company\") (TSX: NGEX) (OTCQX: NGXXF) is pleased to report its results for the three and six months ended June 30, 2025. Highlights for three months ended June 30, 2025 (\"Q2 2025\") and the subsequent period thereto, include the following, details of which are discussed later in the release: Highly successful Phase 3 drill program continued to grow the Lunahuasi deposit. The Company successfully completed 25,003 metres of drilling in 24 holes during the Phase 3 drill program, confirming two significant new discoveries:Major new copper-gold porphyry system – Drillhole DPDH027 confirmed the presence of a predicted copper-gold porphyry system at Lunahuasi, adjacent to the high-grade copper-gold-silver high-sulphidation vein structures that were initially discovered at the project. The porphyry discovery opens an entirely new dimension to the project, comprising a very large-scale exploration target which holds the potential to significantly increase Lunahuasi's long-term value.Quartz veins with high-grade visible gold – Drillhole DPDH046 intersected two separate quartz veins containing ultra high-grade free gold. This new style of mineralization is rarely seen in high-sulphidation epithermal deposits but has accounted for a significant portion of the value at successful projects developed worldwide where it is present, such as the El Indio mine located 150 kilometres to the southwest. The exceptional gold grades intersected thus far suggest that substantial additional value creation may be possible within only a relatively small, mineralized volume, which greatly increases the gold potential of the Lunahuasi deposit. The full extent of this new style of mineralization has not yet been defined, and the Company will prioritize, among other things, follow-up drilling to test this exciting new exploration target in the upcoming program. NGEx plans to spin-out royalties on its flagship assets to shareholders. On July 22, 2025, the Company announced its intention to spin-out net smelter return (\"NSR\") royalties on its Lunahuasi and Los Helados Projects, that will be held by a wholly-owned subsidiary of NGEx (\"RoyaltyCo\") by way of a statutory plan of arrangement under the Canada Business Corporations Act (the \"Arrangemen...