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PPX Discovers New High-Grade Ore Shoot at Mina Callanquitas: Samples 1.2m Grading 71.93 gpt Au, 336 gpt Ag
VANCOUVER, BC / ACCESSWIRE / February 25, 2020 / PPX Mining Corp. (the " Company " or " PPX ...
About this update from Ppx Mining Corp.
[{"type":"text","content":"PPX Discovers New High-Grade Ore Shoot at Mina Callanquitas: Samples 1.2m Grading 71.93 gpt Au, 336 gpt AgVANCOUVER, BC / ACCESSWIRE / February 25, 2020 / PPX Mining Corp. (the \"Company\" or \"PPX\") is pleased to announce that development work on the 3290 level of Mina Callanquitas has cut a high-grade ore shoot within the previously defined reserves for Mina Callanquitas (please see press release dated December 4, 2018 and Pre-Feasibility Study posted on SEDAR), an area of the mine where surface exploration drilling produced only modest results. Systematic underground channel sampling, part of the Company's normal ore control protocol, outlined a high-grade ore shoot over a strike length of 78 metres with a true width of 1.6 metres. The average grade over this area, based on 62 channel samples, is 14.32 gpt Au and 146 gpt Ag. Individual samples contained up 71.93 gpt Au and 1042 gpt Ag as described in more detail below. Higher than anticipated grades and good ore continuity highlight the significance of this discovery:The two diamond core drill holes nearest the 3290 level ore shoot contained 5.50 and 6.56 gpt Au (CA-12-42 and -43, please see diagram below and on the Company's website). In contrast, the 62 channel samples ranged from 2.12 to 71.93 gpt gold yielding a weighted average true thickness of 1.6 metres grading 14.32 gpt gold over a strike length of 78 metres. The results for Ag are more striking, the drill holes contained 21.1 and 10.1 gpt Ag, while the channel samples ranged from 27.9 to 1042 gpt Ag. Precious metal mineralization in this portion of Mina Callanquitas is completely oxidized and it is possible that some of the silver oxide minerals were not adequately recovered or sampled in the core drilling process. As has been noted previously (please see PPX Press Release dated February 5, 2020), the Au grade of ore delivered to the Malin Plant of Silver Cascas S.A.C., has consistently been higher than the grades shown in the Company's reserve and resource model. The sampling also demonstrates good continuity within the ore shoot, an important characteristic in mine planning and exploitation.The 3290 level cuts the Callanquitas ore body in an area above a high-grade ore chute defined by previous diamond core drilling. Drill holes CA-11-08, -11, CA-12-19, -30, -31, -55, and CA-17-86 outline an area with a strike le...