PPX Increases Gold Grade, Bulk Sampling Rate at Mina Callanquitas during August 2017
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NEWS RELEASE TSX.V PPX; BVL PPX; SSE PPX
PPX Increases Gold Grade, Bulk Sampling Rate at Mina Callanquitas during
August 2017
Vancouver, British Columbia – September 11, 2017 – PPX Mining Corp. (the "Company" or “PPX”)
is pleased to announce that over 915 tonnes of bulk sample grading 9.58 gpt gold were mined during the
month of August 2017. Together with stockpiled “low-grade” material, the Company mined 1,235 tonnes
of bulk sample during the month, a near 50% increase in sampling rate, and we remain on track with our
goal of mining 3,500 metric tonnes of bulk sample during calendar Q3 2017. The Company’s mining
partner Proyectos La Patagonia S.A.C. (“ PLP”) provided the Company with a detailed report on
operations at Mina Callanquitas for August 2017 as part of our systematic test mining and bulk sampling
program to evaluate the potential commercial development of the Callanquitas gold and silver resource.
Highlights of the operational results for August include:
• During the month of August 2017, PLP reports that thirty-six truckloads containing 915 tonnes of
gold mineralized rock were shipped to the Malin Plant of Silver Cascas S.A.C. (“Silver Cascas”)
during the August operating period. The average gold grade of the mineralized material was 9.58
gpt gold, the highest monthly gold grade achieved during the bulk sampling program to date.
Gold recoveries from processing the mineralized rock at the Silver Cascas processing plant
ranged from 73.0 to > 88.0%, consistent with gold recoveries observed in previous bulk samples.
In addition, approximately 320 tonnes of “lower grade” mineralized rock containing
approximately 5.5 gpt gold has been stockpiled for future processing. The Company remains on
target to mine 3,500 metric tonnes of bulk sample during calendar Q3 2017 and also achieve our
goal of mining 150 metric tonnes/day of bulk sample by the end of calendar Q4 2017.
• The test mining program has demonstrated several technical characteristics important for
planning future mining operations. Rock quality and stability have been good in both
development headings (ramps) as well as in areas of bulk sampling. Ground support has
consisted of split set bolts and wire mesh in areas adjacent to the Callanquitas structure, with
additional timber support for workings in the mineralized structure (ra ises and bulk sampling
areas). Mine geologists and engineers have been able to extract bulk samples from the
Callanquitas structure in a straightforward manner with visual grade control. We are
experimenting with different mining and stopping techniques to determine what stopping
methods work best in terms of cost and minimizing mine dilution. Photos illustrating
underground mining operations have been added to our website.
• Direct mining unit costs to date have been acceptable, but also present an opportunity for
optimization. The Company is working with PLP to determine the lowest cost development
strategy for basic mine infrastructure (ramps and raises). Identifying the lowest cost and most
efficient mining methods is a critical component of the test mining program and will be utilized
by our mining consultants in our Mina Callanquitas Prefeasibility Study (“PFS”) which is
expected late 2017.
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Brian J. Maher, President and CEO of PPX Mining commented: “ Operations at Mina Callanquitas
continue to accelerate in accordance with our mining plan and bulk sampling program. The Company
shipped consistently high grade gold mineralized rock to Silver Cascas during the month of August and
we have now mined over 3,516 tonnes of bulk sample with an average grade of 8.17 gpt gold for
processing. We have also mined over 800 tonnes of “low-grade” material and placed that rock into a
stockpile for future processing yielding a total sample production of over 4,300 metric tonnes . Gold
grades remain consistent, as does reported gold recovery. In the months ahead, we intend to increase the
bulk sampling rate and also evaluate different mining and development methods in order to optimize the
mine plan in our PFS.”
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 has begun work on its underground test mining and bulk sampling program which
is designed to upgrade the resource estimate and generate data to evaluate the possibility of future mine
development at Igor through the PFS process. To date, PPX has processed over 3,516 tonnes of bulk
sample averaging 8.17 gpt gold. Simultaneously, PPX is accelerating its exploration program at Igor in
order to fully evaluate the resource potential of the entire Igor project area. The Callanquitas Structure is
open along strike and at depth. Parallel structures are unexplored and, coupled w ith the Domo and
Tesoros areas; these drill targets highlight the exploration potential at Igor. 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: 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 all 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]
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Website: www.ppxmining.com
Cautionary Statement:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is d efined 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 suc h 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.