NGEx Minerals Ltd. reported final assay results from its Phase 4 drill program at the Lunahuasi copper-gold-silver project in San Juan Province, Argentina, highlighted by drillhole DPDH064. It intersected a continuous interval of 1,540.10 metres at 1.17% copper equivalent (CuEq) consisting of 0.79% copper, 0.39 g/t gold, and 11.3 g/t silver.

The 27,318-metre, 32-hole Phase 4 campaign concluded in late April, surpassing the 25,003 metres completed across 24 holes during Phase 3. Drilling successfully expanded the Saturn, Mars, and Jupiter high-grade zones while providing new data on the adjacent porphyry system. DPDH064 included an 88.00-metre interval grading 8.65% CuEq in the Saturn Zone—featuring a 15.65-metre section at 30.13% CuEq—followed by 501.10 metres at 0.73% CuEq within the porphyry system, ending in mineralization.

Step-out drilling in the Saturn Zone, including holes DPDH069 and DPDH072, extended the zone by more than 100 metres up-dip and down-plunge. In the Jupiter Zone, hole DPDH077 intersected 57.75 metres at 9.41% CuEq, including 19.00 metres at 25.84% CuEq, reinforcing the system's footprint. Meanwhile, drilling in the Mars Zone confirmed a northeasterly trending gold-rich massive sulphide vein with a minimum strike length of 200 metres and a dip length of 250 metres.

The campaign also identified a new exploration target 300 metres east of the Mars Zone, where drillhole DPGT004 intersected 23.10 metres at 4.72% CuEq, including 4.20 metres at 17.94% CuEq. Additionally, widely spaced holes DPDH070 and DPDH063 intersected high-grade gold quartz veins located 660 metres apart, returning 17.30 metres at 207.79 g/t gold and 4.88 metres at 60.10 g/t gold, respectively.

“This season's drill program at Lunahuasi has significantly advanced our understanding of the deposit. Drilling not only confirmed high-grade mineralization and continuity within the named high-grade zones, but also extended mineralization beyond the limits defined by earlier drilling. Through recent drill results, we now have a better understanding of the Lunahuasi porphyry, which we now know includes a large breccia body with significant copper and gold grades, and have identified new high-grade structures. The Lunahuasi deposit, including the high-grade zones and the porphyry zone, remain open in all directions, demonstrated by DPDH073 and DPDH075, released subsequent to quarter-end, that provide some of the most southern and northern mineralized intersections drilled to date. The results obtained this season provide a strong foundation as we continue to move Lunahuasi forwards and will guide planning for our phase 5 exploration program expected to begin in Q4 2026.”

— Wojtek Wodzicki, President and CEO

As of June 30, NGEx held $463.3 million in net working capital, comprising $81.2 million in cash, $133.5 million in short-term investments, and an investment in LunR Royalties Corp. valued at $252.7 million.

In addition to ongoing data compilation and planning for an underground exploration adit at Lunahuasi, the board approved a corporate reorganization on August 6 to transfer the Valle Ancho Project in Argentina and the Maricunga Properties in Chile to a newly incorporated wholly owned subsidiary, Spinco, by way of a statutory plan of arrangement. The spin-out follows previous plans announced in August 2025 to separate royalty and property interests, and the transaction is expected to be completed in the fourth quarter of 2026 without altering shareholder ownership in NGEx. Planning for the Phase 5 drill program at Lunahuasi is also scheduled to advance ahead of a targeted Q4 2026 start.

Read the full announcement: NGEx Reports Q2 2026 Results; Phase 4 drilling delivers high grades and expands Lunahuasi Deposit