PPX Mining Provides Update ON Technical and Operational Plan
NEWS RELEASE; TSX.V PPX; BVL PPX
PPX MINING PROVIDES UPDATE ON TECHNICAL AND OPERATIONAL PLAN
Toronto – March 13, 2023 – PPX Mining Corp. (the “ Company ” or “ PPX ”) is pleased to provide the
following update on its technical and operational plan:
The operating results of the Callanquitas Mine for last year (see news release dated February 27, 2023) shows
that consistent production can be achieved with high ore grades, but high processing and transportation costs
impacted negatively the mine’s performance. These high costs, not only reduced the profitability on the high
grade ore mined, but also made unprofitable lower g rade ore. Mining costs were also high, due to the l ow
mining rate and high degree of selectivity required during the mining operation.
Even though the need for a plant was identified sin ce the start of the Callanquitas operation, this wa s not
attained due to a variety of factors. New management, which took over in the second half of 2022, is making
the construction of a plant a priority and the program to reach this objective is described below.
Based on the relatively narrow mineralization and the desire to continue as a “small mine” for this operational
phase, a production rate of 350 tons per day of ore has been chosen. The high grade ore would continue to
be mined, but by building a plant, lower grade material can also be mined and processed.
In order to build the envisioned plant, the current environmental permit for a heap leach operation mu st be
modified to allow the grinding of ore and the leaching in agitated tanks. This process will improve recoveries,
compared to a heap leach operation, and is the gene rally accepted process for treating high grade mate rial.
Acomisa S.A., an experienced Peruvian contractor, has been selected to prepare the documentation to apply
for this change (see news release dated February 6, 2023). The topography of the plant area and an
archaeological survey had been completed and the pr eparation of the application is approximately 50%
completed.
Due to the high silver content of the ore, which is increasing with depth, a so-called Merrill Crowe p rocess
will likely be necessary, as a plant using activated carbon (CIL), would require a very large carbon treatment
circuit to recover all the silver. The plant will i nclude grinding of ore followed by leaching, and th e leach
solution will be separated from the solids using co untercurrent decantation in a series of thickeners. The
recovery of gold and silver from that solution will use zinc power to precipitate the values, with final smelting
of the precipitated material to produce a gold – si lver alloy (Dore).
Approximately 100 kg. of ore has been shipped to BaseMet Laboratories in Kamloops, Canada, samples were
taken from various locations in the mine and includ ed high grade ore, sulfide rich ore and ore of a gr ade
expected from the mine. Test work to determine grin ding characteristics, leach recoveries, reagent
consumption and settling characteristics is being c arried out to provide process design parameters for the
plant.
The plant will require electrical power and to avoi d costly self-generation, a power line will be requ ired. A
possible location to obtain connection with the pow er grid is the village of Charat, which is approxim ately
30 km. from the mine. The first phase of the proces s to obtain a line is to submit an application to e stablish
if it is environmentally permitted and if power is available. This process is underway.
Two companies that have experience in building plants of a similar size have been contacted and discussions
have initiated. A visit has been made to a manufacturer of the type of equipment that will be required. Quotes
have been obtained from both companies for basic an d detailed engineering and once the process design
parameters are set, each will be required to carry our basic engineering and prepare a quote to supply and
construct the plant.
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 press release has been reviewed and approved by John
Thomas, P. Eng., who is a qualified person under th e 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 future plans (i.e. the construction of a plant) and/or management estimates.
Forward-looking statements are statements that rela te to future events. In this context, forward-looki ng
statements often address expected future business and financial performance and often contain words such
as “anticipate,” “believe,” “plan,” “estimate,” “ex pect,” and “intend,”, statements that an action or event
“may,” “might,” “could,” “should,” or “will” be tak en 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 resul ts
could differ materially from those stated or implie d in forward-looking statements due to many various
factors. Such uncertainties and risks include, amon g others, delays in obtaining or inability to obtai n
required regulatory approvals in connection with this transaction. 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 forwa rd-looking statements will be achieved or occur. Th e
timing of events and circumstances and actual resul ts 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.