PPX continues drilling at the mine (underground), intersecting in the tension vein a zone 0.70 m grading 9.66 g/t Au and 1432 g/t Ag; and in the mixed zone on Callanquitas East 1.0 m grading 3.06 g/t Au and 1354 g/t Ag.
PPX MINING CORP | 82 Richmond Street East, M5C 1P1, Toronto, Ontario, Canada | +1416-361-0737 | www.ppxmining.com
NEWS RELEASE; TSX.V PPX; BVL PPX
PPX continues drilling at the mine (underground), intersecting in the tension
vein a zone 0.70 m grading 9.66 g/t Au and 1432 g/t Ag; and in the mixed zone on
Callanquitas East 1.0 m grading 3.06 g/t Au and 1354 g/t Ag.
Toronto – January 7, 2026 - PPX Mining Corp. (the “ Company” or “PPX”) is pleased to announce the
continuation of its 4,300 meters diamond drilling program in coordination with the Proyectos la Patagonia
SAC (PLP), a partner company. This drilling program is carried out inside the mine, within two drillin g
chambers. The drilling was executed from the chamber 04, reporting drilling results (historic DDH CA-24-
07) and has the objective of testing Callanquitas E ast and the sulfide veins/breccias with two drill h oles
CA-25-25 and CA-25-28. The drill hole CA-25-26 and CA-25-27 did not reach the target (Callanquitas
West) due to mechanical problems with the drilling machine. Information on the last section of
mineralization intercepted by CA-25-24 is completed.
The Drill hole CA-25-28 intersected the mineralized zone grading 6.40 g/t Au and 384.1 g/t Ag over 3.1 5
meters and it includes a grade of 9.66 g/t Au and 1432.0 g/t Ag over 0.70 meters, occurs within the tension
vein (mixed mineralized zone).
The drill hole CA-25-25 has two mineralized zones, the intersection grades 3.60 g/t Au and 458.8 g/t A g
over 3.60 meters, it includes a grade of 3.06 g/t Au and 1354.0 g/t Ag over 1.0 meters, within Callanquitas
East (mixed mineralized zone). It also intercepted mineralization within the tension vein (sulfide) grading
4.40 g/t Au and 46.7 g/t Ag over 1.25 meters.
The drill hole CA-25-24 has grades in the last sect ion of the mineralization and consists of oxides wi th a
grade of 2.69 g/t Au and 10.2 g/t Ag over 2.90 meters and includes a grade of 4.69 g/t Au and 15.6 g/t Ag
over 0.70 meters (oxide zone).
The drill holes CA-25-26 and CA-25-27 did not reach the target (Callanquitas West) due to mechanical
problems with the drilling machine. See Plan View Figure 1.
The drill hole CA-25-28 was oriented at N40°E dippi ng -43°; drill hole CA-25-25 was oriented at N80°E
dipping -47°; drill hole CA-25-24 was oriented at N66°E dipping -50°; drill hole CA-25-27 was oriented at
S216°W dipping -0 and drill hole CA-25-26 was oriented at N276°W dipping -0°. See Plan View Figure 1.
See the intersections of mineralized zones below in the Table 1.
Table 1. Drilling Results of CA-25-28, 27, 26, 25, and CA-25-24.
Drill Hole From
(m) To (m) Length
(m) (*)
Average Grades
Press Release Breccia Total
depth (m)
Orientation
& Dip Au (g/t) Ag (g/t)
CA-25-28 142.80 145.95 3.15 6.40 384.1 Current
Tensional I
(Mixed)
179.5 40/ -43
Included 144.30 145.95 1.65 6.58 701.40 Current
Included 145.25 145.95 0.70 9.66 1432.00 Current
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CA-25-27 - - - - - Current Callanquitas
West 251.4 216 /0
CA-25-26 - - - - - Current Callanquitas
West 290.5 276 / 0
CA-25-25 97.30 100.90 3.60 1.18 458.8 Current
Callanquitas
East (Mixed)
201 80 / -47
Included 97.30 99.80 2.50 1.64 572.7 Current
Included 97.30 98.30 1.00 3.06 1354.00 Current
CA-25-25 157.15 158.40 1.25 4.4 46.7 Current Tensional I
(Sulfide)
CA-25-24 171.60 174.50 2.90 2.69 10.2 Current
Oxide
212.5 66/ -50
Included 171.60 172.30 0.70 4.69 15.60 Current
* True Width ("TW") is approximately 70% of the drill width.
The drillhole CA-25-28 intercepted the Tension Vein , sulfide zone, located 40 meters north of CA-24-07
(historical DDH 07). The drillhole CA-25-25 intercepted the Callanquitas Este structure and Tension Vein
sulfide, located 30 meters south and 20 meters above point 07 (Callanquitas East); and 25 meters south of
07 (Tension Vein sulfide). The drillhole CA-25-24 intercepted a new section of mineralization with oxides
at the end of the drill hole, results which are presented on this occasion, located 25 meters under 07.
Figure 1. Plan view: location drill holes CA-25-28, CA-25-27, CA-25-26, CA-25-25 and CA-25-24
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The drillhole CA-25-28 intercepted the Tension Vein sulfide zone, located 40 meters north of CA-24-07
(historical DDH 07). The drill hole has an important mineralized intersection grading 6.40 g/t Au and 384.1
g/t Ag over 3.15 meters. Oxides such as goethite an d limonite predominate, intergrown with quartz, and
sulfides in a smaller proportion.
Figure 2. Section: drill holes CA-25-28
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The drillhole CA-25-25 intercepted the Callanquitas East structure and Tension Vein sulfide zone, located
30 meters south and 20 meters above the point 07 (Callanquitas East); and 25 meters south of 07 (Tension
Vein sulfide). The intersection grades 1.18 g/t Au and 458.8 g/t Ag over 3.6 meters in Callanquitas Ea st
(mixed mineralized zone, goethite – limonite and py rite). It also intercepted mineralization in the tension
vein (sulfide) and grades 4.40 g/t Au and 46.7 g/t Ag over 1.25 meters. The drill hole CA-25-24, the l ast
section of mineralization consists of oxides gradin g 2.69 g/t Au and 10.2 g/t Ag over 2.90 meters and
includes a grade of 4.69 g/t Au and 15.6 g/t Ag over 0.70 meters (oxide zone).
Figure 3. Section: drill holes CA-25-25
PPX MINING CORP | 82 Richmond Street East, M5C 1P1, Toronto, Ontario, Canada | +1416-361-0737 | www.ppxmining.com
The mineralization intercepted by CA-22-25 of Calla nquitas East are breccias and hydrothermal tension veins. Callanquitas East consists of several
hydrothermal breccia events and faults that were mi neralized at different stages, and composed of quar tz arenites, siltstones, sandstones and dacites. Th e
hydrothermal alteration is predominantly sericite-quartz in these rocks; and mineralization is present as goethite and limonite, but at this depth the su lfides
increase with fine crystallized pyrite filling the matrix and fractures. It is a transition zone.
Figure 4. Longitudinal section A-A” – Callanquitas Este (East view ) – CA -25 -25.
PPX MINING CORP | 82 Richmond Street East, M5C 1P1, Toronto, Ontario, Canada | +1416-361-0737 | www.ppxmining.com
Figure 5. Longitudinal section B-B” – Tension sulfi de Veins (East view) – CA-25-28 and CA-25-25
The mineralization intercepted by these two holes, CA-25-28 and CA-25-25, are of Tension Vein sulfide,
composed of veins and hydrothermal breccias composed of fragments of sandstones and siltstones, and the
alteration present is of sericite – quartz with goethite-limonite-jarosite mineralization and sulfides replacing
the breccia matrix, a transition zone.
The mineralized zones intercepted from diamond dril l holes CA-25-24, CA-25-25 and CA-25-28 are in
HQ3 (63.5mm) drill rods. The drill holes CA-25-26 and CA-25-27 have HQ3 drill rods but due to problems
with the drilling machine were not completed.
PPX, in coordination with PLP, agreed to sample the mineralized structure in these drill holes. Sampli ng
the tension breccia/vein and the Callanquitas brecc ia structure, as well as its adjacent host rock. Th e
PPX MINING CORP | 82 Richmond Street East, M5C 1P1, Toronto, Ontario, Canada | +1416-361-0737 | www.ppxmining.com
sampling was prioritized for these three drill hole s. Sampling and all results from drill holes CA-25- 28,
CA-25-25 and CA-25-24 (Last section of drilling) are complete and presented in this press release.
The samples are processed at the SGS Peru laboratory (see sections of each drill hole in the Figures 1, 2, 3,
4, 5).
John Thomas, CEO of PPX Mining Corp., commented: “These drill holes further confirm the continuity of
the Callanquitas breccia and the tensional sulfide vein, north and south of the historical DDH 07, reaffirming
the high grade of Ag and Au in this area. This encourages us to continue exploration in this zone and brings
us closer to estimating the resources of this mixed sulfide ore”.
Core Sampling and QA/QC Protocols: PPX geologists collect diamond drill core samples of
HQ3(63.5mm) at the start of the drill holes to depths of 200 m to 250 m and when drilling is difficult change
to NQ3(45mm). The geologists collect diamond drill core samples immediately following geological and
geotechnical logging. Samples are collected based on natural fractures and their geological characteristics
based on their individual runs. Samples are separated by obvious geological boundaries such as rock types,
mineralization styles, and hydrothermal alterations. Samples are collected by cutting the core in half, using
a diamond saw. The second half is retained for future review analysis, future studies, and reference. Samples
are sealed, labeled and stored in a secure area before shipment to SGS laboratories in Trujillo-Lima, Peru.
Gold analyzes are performed using a fire assay and atomic adsorption/gravimetry, and silver ICP –
multiacid. Blanks, standards and duplicate are inserted approximately every 5 samples; Duplicate fire assay
tests approximately every 30 samples and are sent to a second laboratory for reanalysis. The gold equivalent
is calculated as: Au Eq = (Au gpt) + (Ag gpt/107).
About PPX Mining Corp
PPX Mining Corp. (TSX.V: PPX.V, SSE: PPX, BVL: PPX) is a Canadian exploration and development
company with assets in northern Peru. The Company's 100% owned Igor gold and silver project is located
in the prolific northern Peruvian gold belt in the department of La Libertad. PPX is pursuing a two-pronged
strategy to further develop and explore Project Igor. The Callanquitas structure is open along strike and at
depth. Parallel structures have not yet been explored. The new discoveries in Portachuelos in 2018, as well
as the exploration targets in Domo and Tesoros, sho w that the Igor Project is becoming a district-scal e
project with multiple deposits and mineralized zone s. Evaluating mineral development alternatives in
parallel with exploration drilling will provide dual catalysts for growth and increased shareholder value.
All scientific and technical information contained in this press release has been reviewed and approved by
Eddy Canova, PGeo., External Consulting Geologist of PPX Mining Corp., who is a qualified person within
the meaning of National Instrument NI 43-101.
On behalf of the Board Members
John Thomas
Chief Executive Officer
PPX Mining Corp.
82 Richmond Street East Toronto, Ontario M5C 1P1, Canada
Telephone: 416-361-0737
Website: www.ppxmining.com
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