PPX continues the drilling in the Callanquitas West area from the underground mine, obtaining 41.7 g/t Au and 179.2 g/t Ag over 3.2 m, included 80.45 g/t Au over 0.5 m in CA-25-16
TSX.V PPX; BVL PPX
PRESS RELEASE
PPX continues the drilling in the Callanquitas West area from the
underground mine, obtaining 41.7 g/t Au and 179.2 g/t Ag over 3.2 m,
included 80.45 g/t Au over 0.5 m in CA-25-16
Toronto - July 7, 2025 - PPX Mining Corp. (the “Com pany” or “PPX”) is pleased to announce that it
is continuing its 4,300 meters diamond drilling pro gram in coordination with the Proyectos la Patagoni a
S.A.C. (PLP), company partner. This drill program is carried out from inside the mine and the intercept at
Callanquitas West breccia of three drillholes are as follows. The drillhole CA-25-16, in Callanquitas oxide
breccias, grades 41.70 g/t Au and 179.2 g/t Ag over 3.20 meters, includes 34.62 g/t Au and 212.5 g/t A g
over 1.95 meters; also includes 80.45 g/t Au and 207.0 g/t Ag over 0.5 meters, and 45.61 g/t Au over 0.40
meters. The drillhole CA-25-15 intersected a narrow mineralized Callanquitas breccia with 0.30 meters
grading 0.73 g/t Au and 34.5 g/t Ag. The last drill hole CA-25-14 intersected the Callanquitas structur e
grading 0.96 g/t Au and 231.4 g/t Ag over 1.25 meters and a second mineralized zone grading 3.37 g/t Au
and 10.2 g/t Ag over 2.85 meters and includes 4.45 g/t Au over 1.20 meters (See Table 1).
The drillholes were drilled as follows, CA-25-16 or iented at N292°E plunging -17°, CA-25-15 oriented
N300°E plunging -23°; and CA-25-14 oriented N263°E plunging -18° (See Plan View Figure 1, and
Sections Figure 2, 3 and 4). The drillholes CA-25-16, in the oxide zone, CA-25-15 in the sulfide zone, and
CA-25-14 in the oxide zone, all intersected the Cal lanquitas West Breccia. The drillhole CA-25-14 also
intersected a second parallel structure grading 3.3 7 g/t Au and 10.2 g/t Ag over 2.85 meters. Best
mineralized intersections are presented below in the Table 1.
Table 1. Mineralized Intercepts.
Drillhole From
(m) To (m) Length
(m) (*)
Average Grades Press
Release Breccia
Total
depth
(m)
Orientation
& Dip Au
(g/t)
Ag
(g/t)
Au Eq
(g/t) (**)
CA-25-16 219.80 223.00 3.20 41.70 179.2 43.38 Current
Callanquitas
W (Oxide)
232.3 292/ -17
Included 221.05 223.00 1.95 34.62 212.5 36.61 Current
Included 219.80 220.20 0.40 45.61 79.9 46.36 Current
Included 220.20 220.70 0.50 80.45 207.0 82.4 Current
CA-25-15 281.20 281.50 0.30 0.73 34.5 1.05 Current Callanquitas
W (Sulfide) 371.7 300 / -23
CA-25-14 149.80 151.05 1.25 0.96 231.4 3.13 Current Callanquitas
W (Oxide)
197.1 263 / -18
Included 150.55 151.05 0.50 1.75 388.0 5.39 Current
CA-25-14 180.05 182.90 2.85 3.37 10.21 3.47 Current Others
Zones
(Oxide)
Included 181.70 182.90 1.20 4.45 7.7 4.5 Current
* True Width ("TW") is approximately 70% of the drill width.
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** Au Eq using: Au US$3200/oz, Ag US$30/oz
The drillholes all intercepted the Callanquitas Wes t structure, which is located in the northern area, and
with drilling carried out in 2017, 2024 and now in 2025. The mineralized intercept of CA-25-16 is located
80 meters below the drillhole CA-24-09 (See Figure 4, Level Plan and Section Figure 1 and 5). The
drillhole CA-25-14 is 55 meters north and below CA- 24-10 (0.9 meters at 10.46 g/t Au) (See Figure 2,
Level Plan and Section Figure 1 and 5). The core wi dth in CA-25-16 is HQ3 down to 219.80 meters and
ending in NQ3. The drill hole CA-25-14 is all drilled in HQ3.
The mineralized intercept in CA-25-15 is located be tween CA-25-12 (Press Release May, 2025) and CA-
25-16. The drillhole CA-25-15 is 30 meters South of CA-25-12 and 50 meters below CA-25-12 (See Figure
3). The core width in CA-25-15 is HQ3 down to 278.80 meters and ending with NQ3.
All the drillholes, CA-25-14, CA-25-15 and CA-25-16, are drilled from underground in the mine.
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Figure 1. Plan view: location drill holes CA-25-14, CA-25-15 and CA-25-16
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Figure 2. Section: drill holes CA-25-14
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Figure 3. Section: drill holes CA-25-15
Figure 4. Section: drill holes CA-25-16
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The intercepts from drillholes CA-25-14, CA-25-15 a nd CA-25-16 confirmed the continuity of the
Callanquitas West mineralized breccia, and with hig h Au grades in the holes CA-25-14 (4.45 g/t Au over
1.2 meters) and CA-25-16 (41.70 g/t Au over 3.20 meters). The drillhole CA-25-15 grades 0.73 g/t Au over
0.3 meters. The silver grades in these holes are hi gh as illustrated in the Table 1. The drillhole CA- 25-16
was not completed due to mechanical limitations of the drilling machine and lithological complications.
Callanquitas West consists of several hydrothermal breccia events and faults that were mineralized at
different stages. The units are quartz arenites, s iltstones, sandstones and dacites. There is hydroth ermal
alteration with predominantly sericite and quartz i n these rocks. The mineralization drilled by the t wo
drillholes CA-25-14 and CA-25-16 is within Fe oxides (FeOx). These FeOx are located in the matrix of the
hydrothermal breccia and replaced by more than 20% goethite and limonite and in addition with some
sections being totally replaced by FeOx.
The results in hole CA-25-16 with the high Au grades in Callanquitas West structure, supports the idea of
a similar mineralizing style as in Callanquitas East. An improvement in the mineralization seen in the drill
holes CA-25-16 and CA-25-13 (Press Release May 2025 ) appear to demonstrate the presence of an ore
shoot with a breccia thickness of greater than 2 meters.
PPX, in coordination with PLP, agreed to carry out the sampling of the mineralized structure within these
drillholes. The sampling of the Callanquitas brecc ia and adjoining host rock was prioritized for the three
holes. All of the sampling and results from the dri llholes CA-25-14, CA-25-15 and CA-25-16 were all
completed and reported in this press release. The r eported holes CA-25-14, CA-25-15 and CA-25-16 do
demonstrate very well the continuity of the mineral ization within the Callanquitas structure and brecc ias
(See sections Figure 2, 3 and 4).
In the longitudinal section (Figure 5) we can observe that the mineralization in CA-25-14 continues at depth
about 55 meters north and down from the drill hole CA-24-10. The mineralization from the current drillhole
CA-25-16 continues to the north of CA-25-14 about 120 meters on the Callanquitas West structure and 80
meters below drillhole CA-24-09 (See Figure 1 and 4 ), and is open at depth extending below CA-25-13.
The drillhole CA-25-14 and CA-25-16 demonstrate tha t the objectives were attained by intercepting the
mineralization in these two drillholes.
The mineralized intercept in the drillhole CA-25-15 is located 55 meters below that drillhole in CA-25-12.
The breccia widths thin out and the Au grades decre ase at this point and observed in CA-25-15. This wi ll
be verified and tested with new drillholes.
Figure 5. Longitudinal section – Callanquitas Oeste (East view)