PPX Operational Results for Mina Callanquitas for July 2017
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NEWS RELEASE TSX.V PPX; BVL PPX; SSE PPX
PPX Operational Results for Mina Callanquitas for July 2017
Vancouver, British Columbia – August 14, 2017 – PPX Mining Corp. (the "Company" or “PPX”) is
pleased to announce that the Company’s mining partner Proyectos La Patagonia S.A.C. (“ PLP”) has
provided the company with a report of operations at Mina Callanquitas for the month of July 2017. PLP
is developing Mina Callanqu itas for the Company as part of a 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 July include:
Since resuming opera tions at Mina Callanquitas on July 1, PLP reports that twenty-seven
truckloads containing 589 tonnes of gold mineralized rock were shipped to the Malin Plant of
Silver Cascas S.A.C. (“Silver Cascas”) during the July operating period. The average gold grade
of the mineralized material remained consistent compared to prior operating periods , averaging
8.13 gpt gold during July. Gold recoveries from processing the mineralized rock at the Silver
Cascas processing plant ranged from 73.0 to 86.0%, with the highest recoveries associated with
higher-grade material that does not require blending in order to be processed. In addition,
approximately 480 tonnes of “lower grade” grade mineralized rock grading 5.5 gpt gold has been
stockpiled for future processing.
A total of 153 metres of development, representing 95.4% of the planned development work for
the month, were completed in July at Mina Callanquitas. Development work included ramps,
galleries, and sublevel access that will be utilized for mining bulk samples i n the months ahead.
The mine development work will allow further expansion of mine capacity in anticipation of the
completion of a Prefeasibility Study (“PFS”) later this year. 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. This bulk sampling
rate should be sufficient to complete metallurgical test work and define the appropriate
processing method(s) required for our PFS planned for the end of 2017.
Brian J. Maher, President and CEO of PPX Mining commented: “ PPX Mining is pleased with the
progress made by PLP during the restart of mining operations at Mina Callanquitas during July. It is
important to note that to date, PLP has mined over 2,600 tonnes of bulk sample for processing at Silver
Cascas and in addition has placed 480 tonnes of material into stockpile. Gold grades remain consistent in
the bulk samples even as we transition to mining different po rtions of the gold resource. Methodical
verification of the gold and silver resource is key to validating the resource model as required for 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 2,6 00 tonnes of bulk
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sample averaging 7.7 gpt gold . Simultaneously, PPX is accelerating its exploration program at Igor in
order to fully evaluate the resource potential of the entire Igor project a rea. The Callanquitas Structure is
open along strike and at depth. Parallel structures are unexplored and, coupled with the Domo and
Tesoros areas; these drill targets highlight the exploration potential at Igor. Evaluating mine development
alternatives i n 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 mi neral 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 an d 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 Provider (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, may
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 expressed
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 statemen ts. 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.