PPX continues drilling in Callanquitas West, obtaining 12.98 g/t Au over 0.6 m and 7.53 g/t Au over 1.05 m in CA-25-13, within a 32.35 m intercept grading 2.00 g/t Au
PRESS RELEASE
PPX continues drilling in Callanquitas West, obtaining 12.98 g/t Au over 0.6
m and 7.53 g/t Au over 1.05 m in CA-25-13, within a 32.35 m intercept
grading 2.00 g/t Au
Toronto, May 21, 2025 - PPX Mining Corp. (TSX.V: PP X; BVL: PPX) (the “Company” or “PPX”)
is pleased to announce that it continues advancing its 2,300 m diamond drilling program in coordinatio n
with Proyectos la Patagonia S.A.C. (PLP), a partner company. This drill program is carried out from inside
the mine and the intercepts at Callanquitas West br eccia from the second and third drillholes. Results in
CA-25-13 show grades of 2.00 g/t Au over 32.35 m, including 12.98 g/t Au over 0.6 m, 11.48 g/t Au over
1.4 m and 7.53 g/t Au over 1.05 m, Additionally, drillhole CA-25-12, in its final section, intersected a new
oxide mineralized zone with 4.06 m grading 1.99 g/t Au including 3.93 g/t Au over 0.5 m (see Table 1).
The drill hole CA-25-12 was oriented at N303° dipping -11°; and drill hole CA-25-13 was oriented N263°
dipping -38° (see plan view Figure 1, and sections Figure 2 and 3). The drill holes CA-25-12 and CA-25 -
13 intersected the Callanquitas West Breccia and the zone of dispersion mineralization (see the intersections
of mineralized zones below in the Table 1).
Table 1
Drill Hole From
(m) To (m) Length
(m)
Average Grades Press
Breccia total
depth (m)
Orientation
& Dip Au (g/t) Ag (g/t) Au Eq (g/t)
** Release
CA-25-12 275 282 7.00 1.77 20.68 1.96 13-05 321 303 / -11
Included 279.1 282 2.90 3.92 5.88 3.97 13-05
Included 279.1 281 1.90 5.87 7.50 5.94 13-05
Included 279.55 281 1.45 7.41 7.87 7.48 13-05
Included 279.55 280.2 0.65 14.30 13.50 14.43 13-05
CA-25-12 331.6 355.3 23.70 0.73 31.69 1.03 Current
Cal. W
321 303 / -11
Included 340.4 340.9 0.50 3.93 26.40 4.17 Current N ew Zone
Included 336.3 340.9 4.60 1.99 47.24 2.43 Current Oxide
Included 338.8 340.9 2.10 3.09 32.04 3.39 Current
CA-25-13 206.4 238.75 32.35 2.00 22.99 2.22 Current
Cal. W
248.2 263 / -38
Included 223.8 224.4 0.60 12.98 98.10 13.90 Current Predomin-
Included 222.8 225.2 2.40 8.42 74.86 9.12 Current antly
Included 207.6 208.6 1.00 2.95 11.65 3.06 Current Oxide
Included 217 229.9 12.90 3.58 39.25 3.94 Current zone
Included 221.95 226 4.05 5.80 59.93 6.36 Current
Included 233.5 234 0.50 3.66 32.60 3.96 Current
Included 236.8 238.75 1.95 4.46 3.96 4.50 Current
Included 236.8 237.85 1.05 7.53 6.14 7.58 Current
CA-25-13 150.55 151.05 0.50 1.53 1.60 1.55 Current
* True Width ("TW") is approximately 70% of the drill width.
** Au Eq with price international: Au US$/Oz 3300, Ag US$/Oz 30
The drillholes intercepted the Callanquitas West st ructure, located in the northern area of the histor ic
drilling, and carried out in 2017 and 2024. The intercepts of CA-25-12 are located 100 m north of the drill
hole CA-24-09 and 80 m below the drill hole CA-24-09 (see Figure 1 and 2, Level Plan and Section). The
intercepts of the drillhole CA-25-13 are located between the two holes CA-25-11 (see May 13, 2025 press
release) and CA-25-12 (see Figure 1). The drill hole CA-25-13 is 100 m north-northwest of CA-25-11 and
160 m south-southeast of CA-25-12 (see Figure 1). The drillhole CA-25-13 is 225 m below surface and
has the best mineralized intersection with 32.35 m, grading 2.00 g/t Au and includes 12.98 g/t Au over 0.6
m, 11.48 g/t Au over 1.4 m, and 7.53 g/t Au over 1. 05 m. The Drill holes are drilled from underground in
the mine.
Figure 1. Plan View: Location Drillholes CA-25-11, CA-25-12 and CA-25-13
Figure 2. Section: Drillholes CA-25-12
Figure 3. Section: Drillholes CA-25-13
The intercepts from drillholes CA-25-12 and CA-25-1 3 confirmed the continuity of the mineralization
with high Au grades, 14.3 g/t Au over 0.65 m drillhole CA-25-12, and 1 2.98 g/t Au over 0.6 m drillhole
CA-25-13.
Callanquitas West consists of several hydrothermal breccia events and faults that were mineralized at
different stages. It includes quartz arenites, siltstones, sandstones and dacites. The hydrothermal alteration
is predominantly sericite - quartz in these rocks. The mineralization, drilled by the two drillholes (CA-25-
12 and 13) is within mineralized Fe oxides (FeOx). These FeOx are located in the matrix of the
hydrothermal breccia and replaced by more than 20% goethite and limonite. In addition, some sections are
totally replaced by FeOx.
Section view Section view
PPX, in coordination with PLP, agreed to carry out sampling of the mineralized structure with these
drillholes. The sampling of the Callanquitas brecci a and adjoining host rock was prioritized for these two
holes. Sampling of the drill hole CA-25-12 and CA-25-13 were completed and all the results of CA-25-12
and CA-25-13 have been received and reported in this press release. The reported holes CA-25-12 and CA-
25-13 do demonstrate very well the mineralization w ithin the Callanquitas structure and breccias (see
sections of each drill hole Figure 2 and 3).
In the longitudinal section (Figure 4) we can observe that the mineralization in CA-25-13 continues at depth
about 60 m down from the drill hole CA-24-11 and co ntinues north-northwest between CA-25-11 to CA-
25-13 and to CA-25-12 to the north-northwest. The mineralization from the current drill hole CA-25-13
continues to the north-northwest of CA-25-11 about 100 m on the Callanquitas West structure and north-
northwest to the drillhole CA-25-12 about 250 m (See Figure 1 and 4) and is open along strike to the north-
northwest of these drillholes CA-25-12 and at depth extending below CA-25-13. The drill holes CA-25-
11, CA-25-12 and CA-25-13 demonstrate that the obje ctives were attained by intercepting the
mineralization in these three drill holes. Also, demonstrates that mineralization continues at depth ,
seen in CA-25-13 (see Figure 4). This will help to plan the upcoming drill holes in this area.
Figure 4. Longitudinal Section – Callanquitas West (East View)
John Thomas, CEO of PPX Mining Corp., commented: “The drilling program carried out provides valuable
information and shows the continuity of the Callanquitas West structure. The high Au grade intercepts and
the presence of FeOx minerals in the two holes demo nstrate the drilling success. The presence of FeOx
minerals is vital in the metallurgical processing o f the Mine Callanquitas. The Company will continue
drilling along Callanquitas West Breccia/Vein – Cal lanquitas during this second quarter of 2025. Three
more holes will be drilled with the objective of de fining the geometry of the mineralized zone with Au
grades. In the third quarter, it is planned to drill the sulfide vein with high Ag, Au and Cu grades at depth
to establish the extent of the high-grade mineralization intercepted by drill hole CA-24-07.
Core Sampling and QA/QC Protocols: PPX geologists collect core diamond drill core sam ples of
HQ3(63.5 mm) at the start of the drill holes to dep ths of 200 m to 250 m and when drilling is difficul t
change to NQ3(45 mm). The geologists collect diamo nd 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 hydrother mal alteration associations. 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 are sent to a
second laboratory for reanalysis. The gold equivalent is calculated as: Au Eq = (Au gpt) + (Ag gpt/110).
About PPX Mining Corp: PPX Mining Corp. (TSX.V: PPX .V, BVL: PPX) is a Canadian exploration and
development company with assets in northern Peru. T he Company's 100% owned Igor gold and silver
project is located in the prolific northern Peruvia n gold belt in the department of La Libertad. PPX i s
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, show that the Igor Project is
becoming a district-scale project with multiple dep osits and mineralized zones. Evaluating mineral
development alternatives in parallel with explorati on 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 43-101.
On behalf of the Board Members
John Thomas
Chief Executive Officer
82 Richmond Street East
Toronto, Ontario M5C 1P1
Canada
416-361-0737
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility fo r the adequacy or accuracy of this release.
Cautionary Statement:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain disclosures in this release may constitute “forward-looking statements” within the meaning of the
United States Securities Litigation Reform Act of 1995 and the Canadian securities legislation. In making
the forward-looking statements in this release, the Company has applied certain factors and assumption s
that it believes are reasonable. However, forward-looking statements in this release are subject to numerous
risks, uncertainties and other factors that may cause future results to differ materially from those expressed
or implied by such forward-looking statements. Such risks and uncertainties are detailed from time to time
in the Company's filings with relevant securities c ommissions, and may include, but are not limited to ,
market conditions, and delays in obtaining or failing to obtain regulatory approvals or financing. There can
be no assurance that such statements will prove to be accurate and actual results and future events co uld
differ materially from those anticipated in such st atements. Readers should not place undue reliance o n
forward-looking statements. The Company has no inte ntion, and expressly disclaims any intention or
obligation, to update or revise any forward-looking statements, whether as a result of new information ,
future events or otherwise, except as required by law.