PPX Mining (TSX-V:PPX) is planning a new drill chamber for 2027 after Callanquitas drilling returns 5,204 grams per tonne silver (Ag) over 1m.
The company reports that hole CA-26-35 cut 13.28g/t gold (Au), 5,204.20g/t Ag, and 5.4% copper (Cu) over 1m in the Tension vein.
A second intercept returned 8.91g/t Au, 966g/t Ag, and 1.6% Cu over 0.60m. Both sit within a 19.2m zone grading 1.32g/t Au, 434.7g/t Ag, and 0.40% Cu. True width is about 40% of drill width, and assays for the remaining 160m of the hole are pending.
The Tension intercept lies about 20m from CA-26-31, which returned 1,329.6g/t Ag over 1.6m.
Hole CA-26-34 missed the Tension vein but cut 20.85m @ 1.35g/t Au and 16.1g/t Ag in the Callanquitas East structure. That includes 7.15m @ 2.07g/t Au and 30.4g/t Ag. CA-26-33 returned 6.75g/t Au and 40.6g/t Ag over 1.1m.
The company says the holes confirm continuity of both structures and indicate the silver is probably hypogene rather than supergene-enriched. The work is carried out with mining partner Proyectos la Patagonia.
CEO Ernest Mast says the results justify ‘continued exploration’, as mineralisation remains open to the north and at depth.
“This information will assist in updating the sulfide and oxide resource estimates,” Mast adds.
The new chamber for 2027 will allow deeper drilling and better intercept angles. At Portachuelos, two rigs are drilling, with the first hole, PO-26-01, reaching 341.5m and geochemical analyses underway. The company expects first results in the coming weeks.
PPX holds a market capitalisation of C$208 million.
PPX Mining is a Canadian precious metals company advancing a portfolio of gold and silver projects across northern Peru.
Write to JC Villarba at Mining.com.au
Images: PPX Mining
