PPX drilling of Callanquitas West confirms the continuity of the mineralized breccia.
NEWS RELEASE; TSX.V PPX; BVL PPX
PPX drilling of Callanquitas West confirms the continuity of the mineralized
breccia.
Toronto - March 05, 2024 - PPX Mining Corp. (the “Company” or “PPX”) is pleased to announce that in
January 2024, the first six diamond drill holes dir ected at Callanquitas West were completed, totaling 515.6
meters from an underground drilling chamber. Partia l results for the first two holes, CA-23-01 and CA- 23-
04, were reported in the press release dated January 10, 2024, which included 2.55 meters with grades of 8.14
g/t Au and 88 g/t Ag and 1.15 meters grading 8.74 g/t Au and 58 g/t Ag, respectively.
This release covers results from the last five drill holes, including the completion of hole CA-23-04. Hole CA-
23-02 intercepted Callanquitas West with 1.8 meters at a grade of 2.24 g/t Au and 24.7 g/t Ag; hole CA -23-
03 intercepted the tension structure with 1.85 at 3 .29 g/t Au and 55.6 g/t Ag. Results from hole CA-23 -04
were partially reported in the January 10. press re lease and have now been completed, with 5.9 meters and
grades of 4.57 g/t Au and 94.5 g/t Ag; hole CA-05-23 intercepted Callanquitas West with 2.1 meters at 2.8 g/t
Au and 41.1 g/t Ag; and hole CA-24-06 intercepted C allanquitas West with 1.55 meters grading 2.5 g/t A u
and 68 g/t Ag. All drill holes started from the same underground drilling chamber.
The table below shows the generalized sections of the last 5 drillings with details of orientation and negative
dip:
Drill Hole From (m) to (m) Length
(m)
Average Grades
Breccia
Total
Depth
(m)
Orientation
/ dip Au (g/t) Ag (g/t) Au Eq
(g/t)
CA-23-02 99.5 101.30 1.8 2.24 24.7 2.51
Callanquitas W
131.40 305 / -58
Including 100.7 101.30 0.6 5.95 60.2 6.61
CA-23-03 70.7 71.80 1.1 0.42 57.5 0.99 Callanquitas W 95.90 315 / -40
CA-23-03 18.95 20.80 1.85 3.29 55.6 3.84
*Tensional
95.90 315 / -40
Including 20.10 20.80 0.70 5.37 134.0 6.71
CA -23 -04 48.55 54.45 5.90 4.57 94.5 5.52
Callanquitas W
59.80 305 / -25
** Including 51.45 52.45 1.00 6.09 72.60 6.81
** Including 52.45 53.95 1.50 4.84 109.00 5.93
** Including 53.95 54.45 0.50 2.68 159.00 4.27
CA -23 -05 77.5 79.60 2.10 2.80 41.1 3.21 Callanquitas W 95.30 234 / -63
* The Callanquitas West Tensional structure is only intercepted by CA-23-01, CA-23-02, CA-23-03, CA-23-04.
* True Width (“TW”) is approximately 70% of the dri ll width.
All drill holes intercepted the Callanquitas West s tructure and are located in the northern area of th e historic
drilling, carried out in 2017. The location of these new intercepts is located more than 50 meters north of the
drill hole CA-12-67 and 50 meters below the drill hole CA -17-91 (see location map: level plan and section).
Location CA-23-02, CA-23-03, CA-23-04, CA-23-05 and CA-24-06
The interceptions of the six drill holes confirmed the continuity of Callanquitas West and i ts tension
structure , in addition to the mineralization with significan t grades of gold and silver. These grades seen in
the Table above demonstrate that mineralization extends and continues in this area.
Callanquitas West consists of several hydrothermal brecciation events and faults that were mineralized at
Including 77.5 78.40 0.90 3.84 98.2 4.82
CA-24-06 44.15 45.70 1.55 2.50 68.0 3.18
Callanquitas W
66.50 249 / -43
Including 44.5 45.05 0.55 2.95 59.5 3.55
different stages, cutting quartz sandstones, siltst ones and dacites. The hydrothermal alteration is
predominantly sericite – quartz in these rocks. The mineralization is drilled by six drillholes (CA-23-01 to 06)
and the mineralization is with Fe oxides (FeOx). Th is FeOx is located in the matrix of this hydrotherm al
breccia and is replaced by more than 20% of goethit e and limonite and in addition some sections are
completely replaced by FeOx and few sections with a fault breccia.
PPX, in coordination with PLP, carried out the cu rrent drilling program, targeting the Callanquitas West
breccia and adjacent host rock.
In the longitudinal section we can see that the mineralization north of Callanquitas West is open along strike
(north) and depth . The six drill holes demonstrate continuity and wi ll assist in planning future drilling in
this area.
Section DDH CA-23-02
Section DDH CA-23-03
Section DDH CA-23-04
Section DDH CA-23-05
Section DDH CA-24-06
John Thomas, CEO of PPX Mining Corp., commented: “T he drilling program carried out provides good
information to continue drilling at Callanquitas West, showing the continuity of the mineralized breccia.