PPX Drills 31.9m (~ 24m tw) Grading 1.51 gpt Au Eq at Portachuelos, Begins Drilling at Tesoros
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NEWS RELEASE TSX.V PPX; BVL PPX
PPX Drills 31.9m (~ 24m tw) Grading 1.51 gpt Au Eq at Portachuelos, Begins
Drilling at Tesoros
Vancouver, British Columbia – May 2 5, 2018 – PPX Mining Corp. (the "Company" or “ PPX”) is
pleased to announce that diamond core drilling at the new Portachuelos discovery has intercepted 31.9
metres grading 0.86 gpt Au, 48.7 gpt Ag, 1.51 gpt Au Eq in drill hole CA-18-99, the final drill hole of the
current Portachuelos program. CA -18-99, oriented 036, -70 degrees, intercepted four mineralized zones
as shown in the Table below:
From (m) To (m) Length (m)
Weighted Average Grade
Gold (g/t) Silver (g/t) Gold Eq (g/t)
109.0 118.7 9.7 (7m tw) 0.69 12.0 0.85
207.5 230.0 22.5 (17m tw) 0.45 16.2 0.67
280.2 293.1 12.9 (10m tw) 0.53 11.9 0.69
419.6 451.5 31.9 (24m tw) 0.86 48.7 1.51
Total Hole: 557.8 (418m tw) 0.16 6.4 0.24
*True width (“tw”) is approximately 75% of drilled interval
These mineralized zones correlate with multiple stacked mineralized breccias seen in adjacent drill holes
which demonstrate that these breccia zones project from depth to the surface and confirm gold and silver
mineralization over a vertical range in exces s of 400 metres at Portachuelos. Based on the recently
completed drilling, the Portachuelos system has a strike length of at least 1,000 metres. Mineralization
remains open at depth, to the northwest, and to the southeast in the direction of the Tesoros drill target. A
plan map depicting all the drill results to date at Portachuelos can be found on the Company’s web site:
www.ppxmining.com .
PPX is also pleased to announce that drilling has commenced at the Te soros target located 1,500 metres
southeast of Portachuelos. Historic drilling at Tesoros (17 drill holes totalling 1,769 metres) cut a thick,
tabular breccia zone, analogous to Portachuelos, that can be traced in outcrop over a distance of over
1,000 metres. Highlights of historic drilling include drill hole 9d which cut 75.2 metres grading 3.10 gpt
Au, 109 gpt Ag, 4.55 gpt Au Eq at an average vertical depth of 50 metres. Results from the initial drill
holes are expected shortly.
Brian J. Maher, President and CEO of PPX Mining commented: “ The final drill hole of the Portachuelos
drill campaign produced results consistent with earlier drilling: multiple stacked gold and silver
mineralized breccias that correlate with mineralized horizons seen in ad jacent drill holes. The volume of
mineralized material seen at Portachuelos is impressive and underscores the intensity of mineralizing
processes at Portachuelos. The robust nature of hydrothermal system is evidenced by the pervasive nature
of gold and si lver mineralization: the average grade of all intervals in drill hole CA -18-99 was 0.24 gpt
Au Eq over nearly 560 metres. The Company is designing a second Phase of drilling at Portachuelos for
the second half of 2018 with the objective of outlining the ultimate geometry of precious metal
mineralization.”
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Core sampling protocols and QA/QC: PPX geologists collect diamond drill hole samples from core
immediately after geologic and geotechnical logging. Samples are collected based on natural breaks in
geologic features and also on individual drill runs. Samples are broken at obvious geologic boundaries to
correctly separate rock types, mineralization styles and hydrothermal alteration assemblages. Samples are
collected by cutting the core in half using a diamond saw, preserving the second half for check analyses,
further study and reference. Samples are sealed, labeled and stored in a secure area prior to shipment to
SGS Laboratories in Trujillo, Peru. Gold and silver analyses are conducted by the fire assay method with
a CN leach. Blanks and standards are inserted approximately every 10 sam ples; duplicate samples are
included at the same intervals. Duplicate fire assays for approximately every 30 samples are sent to a
second assay laboratory for umpire analysis. Au Eq is calculated as follows: Au Eq = (Au gpt) + (Ag
gpt/75).
About PPX Min ing Corp: PPX Mining Corp. (TSX.V: PPX.V, SSE: PPX, BVL: PPX) is a Canadian -
based exploration and development company with assets in northern Peru. Igor, the Company’s 100% -
owned flagship gold and silver project, is located in the prolific Northern Peru g old belt in eastern La
Libertad Department. PPX is pursuing a two -prong strategy to further develop and explore the Igor
Project. The Company’s underground test mining and bulk sampling program on the Callanquitas
structure is designed to upgrade the resource estimat e and generate data to evaluate future mine
development at Igor through the PFS process. Simultaneously, PPX is accelerating its exploration
program at Igor in order to fully evaluate the resource potential of th e entire Igor p roject area. The
Callanquitas s tructure is open along strike and at depth, parallel structures are unexplored . New
discoveries at Portachuelos, coupled with the Domo and Tesoros exploration targets, emphasize that the
Igor Project is evolvi ng into a district -scale project with multiple deposits and mineralized zones .
Evaluating mine development alternatives in parallel with exploration drilling provide dual catalysts for
growth and increasing shareholder value.
Previous exploration on the C allanquitas Structure discovered a significant Inferred gold and silver
resource containing 730,500 gold equivalent ounces: 7,189,000 tonnes grading 1.94 gpt gold and 71.8 gpt
silver containing 448,500 ounces of gold and 16,600,000 ounces of silver at a cu toff grade of 1.5 gpt gold
equivalent. Included within this resource estimate is a higher-grade zone consisting of 2,730,000 tonnes
grading 2.73 gpt gold and 119.1 gpt silver containing 239,400 ounces of gold and 10,500,000 ounces of
silver using a 3.0 gp t gold equivalent cutoff grade (Please see Technical Report, amended September 27,
2013, available on the Company’s website or SEDAR). Mineral resources are not mineral reserves and do
not have demonstrated economic viability. There is no certainty that al l or any part of the mineral
resource will be converted into mineral reserves.
All scientific and technical information in this press release has been reviewed and approved by Quentin
J. Browne, P.Geo., Independent Consulting Geologist to PPX Mining Corp. , who is a qualified person
under the definitions established by National Instrument 43-101.
On behalf of the Board of Directors
Brian J. Maher
President and Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
PPX Mining Corp.
Brian J. Maher, President and Chief Executive Officer
Phone: 1-530-913-4728
Email: [email protected]
Website: www.ppxmining.com
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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 disclosure in this release, ma y
constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995
and Canadian securities legislation. In making the forward -looking statements in this release, the Company has applied certain
factors and assumptions that the Company believes are reasonable. H owever, the 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 expr essed
or implied in such forward -looking statements. Such uncertainties and risks are detailed from time to time in the Company's
filings with the appropriate securities commissions, and may include, among others, market conditions, and delays in obtaining or
failure to obtain required regulatory approvals or financing. There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are
cautioned not to place undue reliance on forward-looking statements. The Company does not intend, 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.