NGEx Expands High Grade Zone at Filo Del Sol Project, Reports "Challenging" Drilling Conditions; Shares Down 5.5%
NGEx Resources Inc. (NGQ.TO) today announced the complete results from the 2012/2013 exploration program at the Filo del Sol project in San Juan province, Argentina. The results of this season's drilling expand the previously identified high grade copper zone at Filo del Sol and extend the broader zone of disseminated copper, gold, silver mineralization that surrounds the high grade zone.
A total of 819.6 metres were drilled in 5 holes during the program.
Highlights include: FSDH08 with 38.1m of 1.23% copper, 0.21 g/t Au and 10.9 g/t Ag and FSDH11 with 65m of 0.77 g/t Au.
The high-sulphidation epithermal part of the Filo del Sol system has an upper zone of vuggy and sandy silica that has proved to be a challenge to drill though with diamond drills. NGEx said all of this season's holes were abandoned due to poor ground conditions in this material above the target depth for the high grade zone.But FSDH08 was successful in partially testing the zone and confirming its extension 150 metres to the west of previous hole VRC-53. FSDH08 ended in strong mineralization grading 1.33% copper.
Hole FSDH09 was abandoned at a depth of 157 metres in mineralization with a grade of 0.22 g/t Au and 0.27% Cu.
Wojtek Wodzicki, President and CEO of the Company, stated, "Although we faced challenging drilling conditions this year we are very encouraged by the results from Filo del Sol and particularly the confirmation of a potentially significant high grade copper-silver zone within a much larger area of disseminated copper-gold mineralization. It is a big system with excellent potential to add to our current resource base on the VicuÃ±a Project."
Shares are down 12 cents (5.5%) to $2.06.
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