PPX Intercepts High-Grade Gold, Silver, and Copper at Callanquitas, Including 20.04 g/t Au over 0.85 m and 2251 g/t Ag With 3.0% Cu over 0.90 m
On Tuesday, September 15, 2026 at 11:00AM ET
PPX Intercepts High-Grade Gold, Silver, and Copper at
Callanquitas, Including 20.04 g/t Au over 0.85 m and 2251
g/t Ag With 3.0% Cu over 0.90 m
TORONTO, ON / ACCESS Newswire / September 15, 2026 / PPX Mining Corp. (TSX.V:PPX)(BVL:PPX), is pleased to
announce the first results from its 2026 underground diamond drilling program at the Callanquitas Mine, work carried out in
coordination with Proyectos la Patagonia SAC (PLP), a mining partner of the company. The drilling program was carried out at
the Callanquitas mine from underground drill chamber 4, from where the best results of the Tension vein were previously
reported (DDH CA-24-07 and its twin CA-25-24). The current drilling campaign aims to extend the Callanquitas East zone and
the Tension vein to the north, south, and at depth. Drill holes CA-26-31 and CA-26-32 have been completed with final
geochemical results, while hole CA-26-33 currently has only partial results available. Results from additional drill holes will
continue to be reported over the course of the year.
Drilling Highlights
Drill hole CA-26-31 intersected three mineralized zones, one of which is the Tension vein (sulfide) with 3.37 g/t Au, 1329.6 g/t
Ag and 1.81% Cu over 1.60 m. A second zone in this hole grades 5.28 g/t Au and 10.4 g/t Ag over 1.50 m (oxide). This is a new
mineralized zone. A third zone, which is Callanquitas East, grades 4.31 g/t Au and 8.0 g/t Ag over 0.60 m (oxide).
Hole CA-26-32 cut two mineralized zones. Firstly, the Tension vein, with 6.92 g/t Au, 654.0 g/t Ag, and 1.69% Cu over 0.80 m
(sulfide). It is located within a longer interval of 16.75 m of 1.21 g/t Au, 101.6 g/t Ag, and 0.14% Cu. Secondly, the Callanquitas
East structure, which grades 2.88 g/t Au and 9.9 g/t Ag over 1.00 m (oxide).
Drill hole CA-26-33 also cut the Tension vein (sulfide) with 8.66 g/t Au, 289.6 g/t Ag, and 0.10% Cu over 3.60 m. Assay results
for the final 74 m in CA-26-33 are pending.
Drill hole CA-26-31 was oriented at N041o with an inclination of -23° and a depth of 259.20 m. CA-26-32 was oriented at N039o
with an inclination of -30° and a depth of 255.90 m. CA-26-33 was oriented at N039o with an inclination of -44° and a depth of
262.40 m. See Figure 1: Plan View; Figure 2: Cross Section and Table 1: Mineralization Intercepts.
Table 1: Mineralization Intercepts.
Drill Hole From (m) To (m) Length
(m)*
Average Grades Press
Release Breccia/VeinAu (g/t) Ag (g/t) Cu (%)
CA-26-31 56.70 59.90 3.20 2.21 693.7 1.01 Current Tension
(Sulfides)Included 57.80 59.40 1.60 3.37 1329.6 1.81 Current
Included 57.80 58.70 0.90 5.84 2251.0 3.01 Current
CA-26-31 111.9 113.40 1.50 5.28 10.4 - Current New (oxides)
CA-26-31 222.60 228.75 6.15 1.50 12.6 - Current Callanquitas
East
(oxides)
Included 222.6 224.90 2.30 2.37 16.5 - Current
Included 222.6 223.20 0.60 4.31 8.0 - Current
CA-26-32 82.40 99.15 16.75 1.21 101.6 0.14 Current
Tension
(Sulfides)
Included 82.40 94.50 12.10 1.51 120.0 0.19 Current
Included 82.40 89.00 6.60 1.30 191.5 0.34 Current
Included 82.40 83.20 0.80 6.92 654.0 1.69 Current
CA-26-32 213.20 220.30 7.10 0.99 2.5 - Current Callanquitas
East
(Oxides)
Included 213.20 216.50 3.30 1.72 4.4 - Current
Included 215.50 216.50 1.00 2.88 9.9 - Current
CA-26-33 151.00 161.60 10.60 3.26 132.6 0.04 Current
Tension
(Sulfides)
Included 153.20 156.80 3.60 8.66 289.6 0.10 Current
Included 153.20 155.30 2.10 14.15 147.9 0.15 Current
Included 153.70 155.30 1.60 15.86 181.9 0.18 Current
Included 153.70 154.55 0.85 20.04 240.0 0.27 Current
CA-26-33 Pending Callanquitas
EastIncluded Pending
The intercept of the Tension vein in drill hole CA-26-31 is located 10 m below historical hole CA-25-23, which returned only
anomalous Au and Ag values. The intercept at Callanquitas East is 40 m below CA-25-23.
The intercept of the Tension vein in drill hole CA-26-32 is located 5 m Northwest of CA-25-20. The intercept at Callanquitas
East is located 75 m below and 25 m South of CA-25-23.
The intercept of the Tension vein in drill hole CA-26-33 is located 20 m below the historic CA-25-28, where higher gold grades
were obtained. The intercept at Callanquitas East is located 50 m North of and below CA-25-19.
Figure 1. Plan view showing the locations of drill holes CA-26-31, CA-26-32, and CA-26-33, and 2024-2025 DDHs.
Figure 2. Cross-section of drill holes CA-26-31, CA-26-32, and CA-26-33 and 2024-2025 DDHs (View North).
Drill holes CA-26-31, CA-26-32, and CA-26-33 confirm the continuity of the Tension vein and the Callanquitas East zone.
Importantly, they demonstrate that Ag values are probably hypogene and not due to supergene enrichment. All three holes were
drilled along the same azimuth, across about 120 m of vertical extent. The Callanquitas East zone was also confirmed by holes
CA-26-31 and CA-26-32. Although grades were slightly lower, oxide mineralization persists, defining an approximate depth
extension of 75 m below hole CA-25-23. See Figure 2: Cross Section, and Figure 3: Longitudinal section Tension vein.
Figure 3. Longitudinal section of the Tension vein showing drill holes CA-26-31, CA-26-32, and CA-26-33; (East View).
The longitudinal section of the Tension vein (Figure 3) shows the intercepts from drill holes CA-26-31, CA-26-32, and CA-26-
33, located at the northern boundary of the northern zone drilled in 2025; these three holes serve as twin and infill holes, showing
improved Au, Ag, and Cu grades compared to previous data. The Tension vein consists of hydrothermal veins and breccias
containing sandstone and carbonaceous siltstone fragments; alteration is characterized by quartz-sericite, and mineralization
comprises sulfides such as pyrite, arsenopyrite, and chalcopyrite, as well as Ag-sulfosalts.
Figure 4. Longitudinal section of Callanquitas East with drill holes CA-26-31 and CA-26-32; (East View).
The longitudinal section of Callanquitas East (Figure 4) shows the intercepts from drill holes CA-26-31 and CA-26-32, located
North of and below the historical drill holes (2024 and 2025). At this elevation, Callanquitas East remains a clast-supported
hydrothermal breccia featuring sedimentary clasts and a matrix replaced by goethite and limonite, intergrown with quartz;
additionally, sericite is observed in fractures and vugs. See Figure 2: Cross Section, and Figure 4: Longitudinal section
Callanquitas East.
The mineralized zones intercepted by diamond drill holes CA-26-31, CA-26-32, and CA-26-33 were drilled using HQ3 (63.5
mm) core size. The samples were processed at the SGS Peru laboratory (see the sections for each drill hole in Figure 1).
Ernest Mast, CEO of PPX Mining Corp., commented: "These results confirm high Au and Ag grades in the Tension vein in
sulfide and its geological continuity, along with significant Cu. At Callanquitas East, there is a slight decrease in Au grade, but
the oxide-bearing breccia persists at the 2850-metre elevation. The results from these three drill holes justify continued
exploration, as the mineralization remains open to the North and at depth in both the Tension vein and Callanquitas East. This
information will assist in updating the sulfide and oxide resource estimates."
Core Sampling and QA/QC Protocols
PPX geologists collect diamond drill core samples of HQ3 (61.1mm) at the start of the drill holes to depths of 200 m to 250 m
and when drilling is difficult change to NQ3 (45mm). Geologists collect diamond drill core samples immediately following
geological and geotechnical logging. Samples are collected based on natural fractures and their geological characteristics based
on their individual runs. Samples are separated by obvious geological boundaries such as rock types, mineralization styles, and
hydrothermal alterations. Samples are collected by cutting the core in half, using a diamond saw. The second half is retained for
future review analysis, future studies, and reference. Samples are sealed, labeled and stored in a secure area before shipment to
SGS laboratories in Trujillo-Lima, Peru. In the laboratory, the entire sample is crushed to pass a No. -10 mesh (2mm), then
homogenized and split; subsequently, a 250-gram fraction is pulverized to 95% passing a No. -140-mesh (0.106mm) screen, and
a 100-gram portion is taken for analysis; gold analyzes are performed using a fire assay and atomic adsorption/gravimetry, and
silver ICP - multiacid. Blanks, standards and duplicate are inserted approximately every 5 samples; Duplicate fire assay tests
approximately every 30 samples and are sent to a second laboratory for reanalysis.
Warren Pratt, C. Geol., independent Advisor to the Company, a Qualified Person as defined under National Instrument 43-101,
has reviewed and approved the technical information contained in this news release on behalf of the Company.
On behalf of the Board of Directors
Ernest Mast
President and Chief Executive Officer
82 Richmond Street East
Toronto, Ontario M5C 1P1
Canada
416-361-0737
Neither 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.
About PPX Mining Corp:
PPX Mining Corp. is a Canadian-based mining 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 focused on
disciplined growth, responsible development, and long-term value creation for shareholders and local stakeholders.
Cautionary Statement:
This press release contains forward-looking information and forward-looking statements (collectively, "forward-looking
statements") as such terms are defined by applicable securities laws, including, but not limited to statements regarding test
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"could," "should," or "will" be taken or occur, or other similar expressions. Forward-looking statements are subject to a number
of known and unknown risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's
control, and the Company's actual results could differ materially from those stated or implied in forward-looking statements due
to a number of factors. Although the Company believes that the expectations reflected in the forward-looking statements are
reasonable, the Company cannot guarantee that the events and circumstances reflected in the forward-looking statements will be
achieved or occur. The timing of events and circumstances and actual results could differ materially from those projected in the
forward-looking statements. Accordingly, one should not place undue reliance on forward- looking statements. All forward-
looking statements contained in this press release are made as of today's date, and the Company undertakes no obligation to
update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise,
unless required by law.
SOURCE: PPX Mining Corp.