PPX Drills 40.2m Grading 2.72 gpt Au Eq at Portachuelos Discovery
JDS\480901\Corp\6263v1
_____________________________________________________________________________________
NEWS RELEASE TSX.V PPX; BVL PPX; SSE PPX
PPX Drills 40.2m Grading 2.72 gpt Au Eq at Portachuelos Discovery
Vancouver, British Columbia – March 2, 2018 – PPX Mining Corp. (the "Company" or “PPX”) is
pleased to announce that diamond core drill hole CA-18-94 has intercepted 40.2 metres grading 1.18 gpt
Au, 115.4 gpt Ag, (2.72 gpt Au Eq) at a vertical depth of approximately 25 metres at its new Portachuelos
discovery at the Igor Project. The Portachuelos discovery or mineralized zone is located over 800 metres
south of the existing Callanquitas resource and represents a new distinct area of shallow, lower grade gold
and silver mineralization hosted by tectonic and hydrothermal breccia. Previously announced drill hole
CA-17-76 (41.6m grading 0.71 gpt Au Eq) first cut mineralized breccia southeast of drill hole CA-18-94.
The intercept reported for drill hole -94 extends this mineralization at least 250 metres to the northwest
and shows much higher gold and silver grades. Together with previously reported drill hole CA-17-78,
the Portachuelos mineralized zone has a strike length of approximately 650 metres, a true thickness of up
to 40 metres and has been drilled to a depth of 130 metres. The gold and silver mineralization at
Portachuelos is open in all directions, vertically and laterally.
The gold and silver mineralization in drill hole CA-18-94 is hosted by brecciated Cretaceous siltstone and
quartzite in a fault structure adjacent to hydrothermally altered Miocene dacite porphyry. Within the
thicker interval reported above, there is a high grade zone consisting of 6.0 metres grading 5.77 gpt Au,
443.8 gpt Ag, (11.77 gpt Au Eq, please see table below). Individual assays within this interval contain up
to 904.0 gpt Ag and 9.87 gpt Au (21.92 gpt Au Eq, 73.7-74.7m). This six metre interval has elevated
levels of copper (0.68%) and anomalous base metals, suggesting a geochemical affinity to some of the
large porphyry deposits that characterize the northern Peru copper-gold belt. It should be noted the
results from drill hole CA-18-94 include only the upper 82 metres of the drill hole; the total depth is 343.7
metres and several additional intervals of hydrothermal and tectonic breccia were noted during logging.
Additional drilling northwest of drill -94, augmenting the Phase One program, is being planned.
Brian J. Maher, President and CEO of PPX Mining commented: “The results from drill hole CA-18-94
confirm that the Portachuelos gold and silver mineralized zone is a significant new discovery at the Igor
project and reaffirms our belief that the Igor Project is a district scale precious metal system with multiple
gold and silver deposits. We will continue to drill the Portachuelos area to fully understand the size of the
mineralized zone which remains open in all directions. Drilling will also commence shortly at the
Tesoros target area, yet another distinct, separate, mineralized zone at the Igor Project were previously
reported diamond drilling intercepted 75.2 metres grading 4.55 gpt Au Eq (drill hole 9d). With the bulk
sampling and in-fill drilling program at Callanquitas producing outstanding results and our exploration
drilling confirming the existence of multiple new mineralized zones, PPX is committed to demonstrating
the full potential of the Igor project and growing shareholder value during 2018”.
Callanquitas In-Fill Drilling: Two in-fill drill holes were completed within the Calanquitas resource
area: CA-17-89 intercepted 2.4 metres grading 6.38 gpt Au, 32.2 gpt Ag (6.63 gpt Au Eq) while CA-17-
91 had multiple high grade intercepts including 1.6 metres grading 8.62 gpt Au, 500.8 gpt Ag (15.11 gpt
Au Eq) and 2.1 metres grading 5.40 gpt Au, 223.0 gpt Ag (8.37 gpt Au Eq). These intercepts confirm
grade continuity in this portion of the Callanquitas structure and will be utilized in the forthcoming Pre-
Feasibility Study (“PFS”) for Mina Callanquitas. As has been noted in previous drill holes, the high grade
Page 2
intercepts in CA-17-89 and -91 are within thick intervals of lower grade mineralization. At the northern
end of the Callanquitas system, drill hole CA-18-93 was positioned where a drill hole pierce point was
necessary to verify a pinching portion of the Callanquitas structure outside the resource area therefore, the
lack of significant values (“NSV”) was somewhat expected.
One diamond drill hole was completed at the edge of the Domo target area and contained anomalous
precious metal values throughout. More drill holes are planned for the central portion of the Domo target
area.
Drill Hole From
(m) To (m) Length
(m)
Weighted Average Grade
Line Section
Total
Depth
(m)
Azimuth,
Inclination Gold (g/t) Silver (g/t) Gold Eq (g/t)
CA-17-89 131.3 161.4 30.1 0.97 9.8 1.10 N4635 203.6 068, -35
Including 154.0 156.4 2.4 6.38 32.2 6.63
CA-17-91 96.6 187.8 91.2 0.67 23.7 0.99 N4400 190.6 084, -44
Including 100.1 101.7 1.6 8.62 500.8 15.11
Including 151.5 153.6 2.1 5.40 223.0 8.37
CA-18-92 0.0 350.5 350.5 anom. anom. anom. Domo 350.5 150, -50
Including 295.8 296.5 0.7 1.76 58.9 2.55
CA-18-93 0.0 228.6 228.6 NSV NSV NSV N4925 228.6 270, -44
CA-18-94 38.6 78.8 40.2 1.18 115.4 2.72 Portachuelos 343.7 50, -60
Including 72.8 78.8 6.0 5.77 443.8 11.69
Note: Assays are only available for the first 82 metres of this drill hole
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 Truijillo, Peru. Gold and silver analyses are conducted by the fire assay method with
a CN leach. Blanks and standards are inserted approximately every 10 samples; 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.
About PPX Mining 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 gold 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
Page 3
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 the entire Igor p roject area. The
Callanquitas structure is open along strike and at depth, parallel structures are unexplored. New
discoveries at Portachuelos, coupled with the Domo and Tesoros areas, emphasize that the Igor Project is
evolving 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 Callanquitas 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 cutoff 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 gpt 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 a ll 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
Cautionary Statement:
Neither the TSX Venture Exchange nor its Regulation Services Pr ovider (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. However, 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.