Star Metro - PPX Continues the Drilling in the Callanquitas West Area from the Underground Mine, Obtaining 41.7 g/t Au and 179.2 g/t Ag Over 3.2 M, Included 80.45 g/t Au Over 0.5 M in Ca-25-16

The drillholes were drilled as follows, CA-25-16 oriented at N292°E plunging -17°, CA-25-15 oriented N300°E plunging -23°; and CA-25-14 oriented N263°E plunging -18° (See Plan View Figure 1, and Sections Figure 2, 3 and 4). The drillholes CA-25-16, in the oxide zone, CA-25-15 in the sulfide zone, and CA-25-14 in the oxide zone, all intersected the Callanquitas West Breccia. The drillhole CA-25-14 also intersected a second parallel structure grading 3.37 g/t Au and 10.2 g/t Ag over 2.85 meters. Best mineralized intersections are presented below in the Table 1.

Table 1. Mineralized Intercepts.

* True Width ("TW") is approximately 70% of the drill width.

** Au Eq using: Au US$3200/oz, Ag US$30/oz

The drillholes all intercepted the Callanquitas West structure, which is located in the northern area, and with drilling carried out in 2017, 2024 and now in 2025. The mineralized intercept of CA-25-16 is located 80 meters below the drillhole CA-24-09 (See Figure 4, Level Plan and Section Figure 1 and 5). The drillhole CA-25-14 is 55 meters north and below CA-24-10 (0.9 meters at 10.46 g/t Au) (See Figure 2, Level Plan and Section Figure 1 and 5). The core width in CA-25-16 is HQ3 down to 219.80 meters and ending in NQ3. The drill hole CA-25-14 is all drilled in HQ3.

The mineralized intercept in CA-25-15 is located between CA-25-12 (Press Release May, 2025) and CA-25-16. The drillhole CA-25-15 is 30 meters South of CA-25-12 and 50 meters below CA-25-12 (See Figure 3). The core width in CA-25-15 is HQ3 down to 278.80 meters and ending with NQ3.

All the drillholes, CA-25-14, CA-25-15 and CA-25-16, are drilled from underground in the mine.

The intercepts from drillholes CA-25-14, CA-25-15 and CA-25-16 confirmed the continuity of the Callanquitas West mineralized breccia, and with high Au grades in the holes CA-25-14 (4.45 g/t Au over 1.2 meters) and CA-25-16 (41.70 g/t Au over 3.20 meters). The drillhole CA-25-15 grades 0.73 g/t Au over 0.3 meters. The silver grades in these holes are high as illustrated in the Table 1. The drillhole CA-25-16 was not completed due to mechanical limitations of the drilling machine and lithological complications.

Callanquitas West consists of several hydrothermal breccia events and faults that were mineralized at different stages. The units are quartz arenites, siltstones, sandstones and dacites. There is hydrothermal alteration with predominantly sericite and quartz in these rocks. The mineralization drilled by the two drillholes CA-25-14 and CA-25-16 is within Fe oxides (FeOx). These FeOx are located in the matrix of the hydrothermal breccia and replaced by more than 20% goethite and limonite and in addition with some sections being totally replaced by FeOx.

The results in hole CA-25-16 with the high Au grades in Callanquitas West structure, supports the idea of a similar mineralizing style as in Callanquitas East. An improvement in the mineralization seen in the drill holes CA-25-16 and CA-25-13 (Press Release May 2025) appear to demonstrate the presence of an ore shoot with a breccia thickness of greater than 2 meters.

PPX, in coordination with PLP, agreed to carry out the sampling of the mineralized structure within these drillholes. The sampling of the Callanquitas breccia and adjoining host rock was prioritized for the three holes. All of the sampling and results from the drillholes CA-25-14, CA-25-15 and CA-25-16 were all completed and reported in this press release. The reported holes CA-25-14, CA-25-15 and CA-25-16 do demonstrate very well the continuity of the mineralization within the Callanquitas structure and breccias (See sections Figure 2, 3 and 4).

In the longitudinal section (Figure 5) we can observe that the mineralization in CA-25-14 continues at depth about 55 meters north and down from the drill hole CA-24-10. The mineralization from the current drillhole CA-25-16 continues to the north of CA-25-14 about 120 meters on the Callanquitas West structure and 80 meters below drillhole CA-24-09 (See Figure 1 and 4), and is open at depth extending below CA-25-13. The drillhole CA-25-14 and CA-25-16 demonstrate that the objectives were attained by intercepting the mineralization in these two drillholes.

The mineralized intercept in the drillhole CA-25-15 is located 55 meters below that drillhole in CA-25-12. The breccia widths thin out and the Au grades decrease at this point and observed in CA-25-15. This will be verified and tested with new drillholes.

John Thomas, CEO of PPX Mining Corp., commented: "The drilling program carried out gives good valuable information and shows the continuity of the Callanquitas West structure. The high Au grade intercepts and the presence of FeOx minerals in the two holes (CA-25-14 and CA-25-16) demonstrate the drilling success, the increasing possibility of locating a high-grade mineral ore shoot in Callanquitas West. The Company ended drilling one more drillhole along this structure Callanquitas West Breccia/Vein - Callanquitas (Pendent assay), and started drilling the sulfide vein with high Ag, Au and Cu grades at depth to establish the extent of the high-grade mineralization intercepted by the drill hole CA-24-07."

Core Sampling and QA/QC Protocols: PPX geologists collect core diamond drill core samples of HQ3(63.5mm) at the start of the drillholes to depths of 200 meters to 250 meters and when drilling is difficult change to NQ3(45mm). The geologists collect diamond drill core samples immediately following geological and geotechnical logging. Samples are collected based on natural fractures and their geological characteristics based on their individual runs. Samples are separated by obvious geological boundaries such as rock types, mineralization styles, and hydrothermal alteration associations. Samples are collected by cutting the core in half, using a diamond saw. The second half is retained for future review analysis, future studies, and reference. Samples are sealed, labeled and stored in a secure area before shipment to SGS laboratories in Trujillo-Lima, Peru. Gold analyzes are performed using a fire assay and atomic adsorption/gravimetry, and silver ICP - multiacid. Blanks, standards and duplicate are inserted approximately every 5 samples; Duplicate fire assay tests approximately every 30 samples are sent to a second laboratory for reanalysis. The gold equivalent is calculated as: Au Eq = (Au gpt) + (Ag gpt/107).

All scientific and technical information contained in this press release has been reviewed and approved by Eddy Canova, PGeo., External Consulting Geologist of PPX Mining Corp., who is a qualified person within the meaning of National Instrument 43-101.

On behalf of the Board Members

John Thomas
Chief Executive Officer
82 Richmond Street East
Toronto, Ontario M5C 1P1
Canada
416-361-0737

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.

Cautionary Statement

This press release contains forward-looking information 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, future plans or management estimates. Forward-looking statements are statements that relate to future events. In this context, forward-looking statements often address expected future business plans and financial performance and often contain words such as "anticipate," "believe," "plan," "estimate," "expect," and "intend,", statements that an action or event "may," "might," "could," "potentially," "should," "would" 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. Such uncertainties and risks include, among others, delays in obtaining or inability to obtain any required regulatory approvals, if applicable. 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 forward-looking statements will be achieved or occur. The timing of events and circumstances and actual results 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.

SOURCE: PPX Mining Corp.

View the original press release on ACCESS Newswire

G.Boudreau--SMC