PPX Mining Corp. Advances Callanquitas Drilling and Begins Two-Rig Program at Portachuelos

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PPX Mining Corp. announced results from an underground diamond drilling program at the Callanquitas Mine, carried out in coordination with Proyectos la Patagonia S.A.C. (PLP), a mining partner of the company, according to the company. The drilling program was carried out at chamber 4, from where the best results of the Tension vein were previously reported (DDH CA-24-07 and its twin CA-25-24), according to the company. The current drilling campaign aims to extend the Callanquitas East structure and the Tension vein to the North, South, and at depth, the company said.

The release reports the last part of drill hole CA-26-33 (the first part was published on September 15), drill hole CA-26-34, and the first part of drill hole CA-26-35, according to the company. Results from additional drill holes will continue to be reported over the course of the year, the company said. PPX also began drilling at Portachuelos with two rigs, and the first hole, PO-26-01, was completed at 341.5 m, with geochemical analyses in progress, according to the company.

Key Highlights

• Drill hole CA-26-35 intersected a mineralized zone of the Tension vein returning 13.28 g/t Au, 5,204.2 g/t Ag, and 5.4% Cu over 1.00 m, within a broader interval of 19.20 m at 1.32 g/t Au, 434.7 g/t Ag, and 0.4% Cu, according to the company.
• CA-26-35 also returned a second high-grade intersection of 8.91 g/t Au, 966.0 g/t Ag, and 1.6% Cu over 0.60 m, according to the company; assay results for the remaining 160 m of the drill hole are pending.
• Drill hole CA-26-34 cut a wide zone in the Callanquitas East structure of 20.85 m with 1.35 g/t Au and 16.10 g/t Ag, including 7.15 m with 2.07 g/t Au and 30.4 g/t Ag, and including 1.20 m with 3.53 g/t Au and 148.9 g/t Ag within mixed oxide and sulfide, according to the company.
• Drill hole CA-26-33 intersected the Callanquitas East oxide breccia with 6.75 g/t Au and 40.6 g/t Ag over 1.10 m, according to the company.
• Drill hole CA-26-33 was oriented at N039° with an inclination of -44° and a depth of 262.40 m; CA-26-34 was oriented at N043° with an inclination of -57° and a depth of 283.10 m; CA-26-35 was oriented at N048° with an inclination of -30° and a depth of 247.10 m, according to the company.
• The Tension vein intercept in CA-26-35 is located approximately 20 m from previously reported CA-26-31, where 1,329.6 g/t Ag was intersected over 1.6 meters, according to the company.
• Drill hole CA-26-34 did not intercept the Tension vein, remaining in the footwall, according to the company.

Strategic/Operational Context

Ernest Mast, CEO of PPX Mining Corp., commented: "Results continue to 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 2810 m elevation and a mixed zone with higher silver grade has appeared. 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. We have also begun drilling at Portachuelos with two rigs, and we expect to release the first results in the coming weeks."

According to the company, drill holes CA-26-33 and CA-26-35 confirm continuity of the Tension vein, and CA-26-33 and CA-26-34 confirm continuity of the Callanquitas East structure. The company stated that the results demonstrate the silver values are probably hypogene, not due to supergene enrichment, and that oxide mineralization persists approximately 40 m below hole CA-25-19, though at slightly lower grades. The company also noted that a new drill chamber is planned for 2027, with a location intended to allow better intercept angles and deeper drilling of the Tension vein, as well as continued drilling of the Callanquitas East structure to the North.

Resources and Financials

• Tension vein (sulfides) in CA-26-35: 19.20 m at 1.32 g/t Au, 434.7 g/t Ag, and 0.4% Cu, including 1.00 m at 13.28 g/t Au, 5,204.2 g/t Ag, and 5.4% Cu, and 0.60 m at 8.91 g/t Au, 966.0 g/t Ag, and 1.6% Cu.
• Callanquitas East (mixed) in CA-26-34: 20.85 m at 1.35 g/t Au and 16.10 g/t Ag, including 7.15 m at 2.07 g/t Au and 30.4 g/t Ag, and 1.20 m at 3.53 g/t Au and 148.9 g/t Ag.
• Callanquitas East (oxides) in CA-26-33: 21.50 m at 0.95 g/t Au and 24.2 g/t Ag, including 1.10 m at 6.75 g/t Au and 40.6 g/t Ag.
• The diamond drill holes were drilled using HQ3 (63.5 mm) core size, with samples processed at the SGS Peru laboratory, according to the company.

What to Watch Next

• First assay results from Portachuelos drill hole PO-26-01 are expected in the coming weeks, according to the company.
• Results from additional drill holes at Callanquitas are expected to continue to be reported over the course of the year, according to the company.
• Assay results for the remaining 160 m of drill hole CA-26-35 are pending, according to the company.
• A new drill chamber is planned for 2027 to allow deeper drilling of the Tension vein and continued drilling of the Callanquitas East structure to the North, according to the company.

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, according to the company.

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 the news release on behalf of the Company, according to the company.

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.

Read full press release here.

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