PPX Mining Announces Additional Metallurgical Test Results
NEWS RELEASE; TSX.V PPX; BVL PPX
PPX MINING ANNOUNCES ADDITIONAL METALLURGICAL TEST
RESULTS
Toronto – April 5, 2023 – PPX Mining Corp. (the “ Company ” or “ PPX ”) is pleased to announce
additional metallurgical results of test work carri ed out by BaseMet Laboratories from Kamloops, Briti sh
Columbia, Canada; confirming that significant incre ase in recovery of gold can be obtained by using a
particular treatment process.
Past test work, as well as historic results from toll treatment plants used to process ore have shown that only
74% – 80% recovery of gold can be obtained by direct oxide ore leaching. The reason for this low recovery
was suggested by recent results confirming that fin er grinding reduced the gold recovery. This situati on is
common in ore containing naturally occurring carbon , which adsorbs gold from the leach solution when
using finer grinding, favouring the liberation of carbon. This phenomenon is denominated “preg-robbing ”,
process in which the gold is adsorbed by the carbon, reporting directly to the tailings and lost.
Test work has been carried out using carbon in leac h, where activated carbon is added to a slurry of t he
ground ore prior to adding cyanide, so the large pa rticles (2 – 4 mm) of activated carbon capture the gold
and silver in preference to the naturally occurring carbon. The large particles of carbon can then be separated
by screening and gold and silver are recovered from the carbon by using the usual elution process. The
overall process is denominated Carbon-in-Leach (CIL). A sample of 61 kg was taken from a typical breccia
at the 3056 meter elevation in the mine. A table co mparing direct leaching results with those from usi ng
CIL is shown below:
Data from above table shows 10.6% higher gold recoveries with CIL than with oxide leaching, while silver
recoveries are slightly lower. As most of the revenue is derived from the gold, a CIL recovery profile results
in a significant increase in revenue. Based on this metallurgical information, the Company is reconsidering
the plant design for its Igor Project from Merrill Crowe to CIL.
John Thomas, CEO commented, “This increase in recov ery is very significant, as an increase of 10% in
recovery in a 7 g/t gold ore corresponds to an extra US$ 40 per ton in revenue at US$ 1,800 per ounce gold.
A design throughput of 350 tons per day, assuming f ull capacity, results in $14,000 of extra revenue p er
day, or approximately US$ 5 million per year”.
ROM SAMPLE
11.6 g/t Au; 69.0 g/t Ag
Test Grind 80% Au ext Ag ext Test Grind 80% Au ext Ag ext
# microns % % # microns % %
CN-01 75.0 76.0 56.5 CIL-05 75.0 88.8 52.1
CN-02 106.0 78.2 56.4 CIL-07 106.0 88.3 52.0
CN-03 150.0 78.4 55.2 CIL-08 150.0 87.1 54.3
About PPX Mining Corp:
PPX Mining Corp. (TSX.V: PPX.V, BVL: PPX) 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 Nort hern
Peru gold belt in eastern La Libertad Department.
All scientific and technical information in this pr ess release has been reviewed and approved by John
Thomas, P. Eng., who is a qualified person under the definitions established by National Instrument 43-101.
On behalf of the Board of Directors
John Thomas
Chief Executive Officer
82 Richmond Street East
Toronto, Ontario M5C 1P1
Canada
416-361-0737
Neither TSX Venture Exchange nor its Regulation Ser vices Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts respo nsibility for the adequacy or accuracy of this
release.
Cautionary Statement:
This press release contains forward-looking informa tion 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 results, futur e plans or management estimates. Forward-looking
statements are statements that relate to future eve nts. In this context, forward-looking statements of ten
address expected future business and financial perf ormance and often contain words such as “anticipate ,”
“believe,” “plan,” “estimate,” “expect,” and “inten d,”, statements that an action or event “may,” “mig ht,”
“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 many various factors. Suc h
uncertainties and risks include, among others, delays in obtaining or inability to obtain required regulatory
approvals in connection with this transaction. Alth ough the Company believes that the expectations
reflected in the forward-looking statements are rea sonable, the Company cannot guarantee that the even ts
and circumstances reflected in the forward-looking statements will be achieved or occur. The timing of
events and circumstances and actual results could d iffer materially from those projected in the forwar d-
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 Compan y
undertakes no obligation to update or publicly revi se any forward-looking statements, whether as a res ult
of new information, future events or otherwise, unless required by law.