PPX Mining (TSX-V:PPX) reports ‘high-grade’ gold, silver, and copper results from its 2026 underground drilling program at the Callanquitas mine in Peru.
Three diamond drill holes were completed from underground drill chamber four, targeting extensions of the Callanquitas East zone and Tension vein to the north, south, and at depth.
Hole CA-26-33 returned the standout intercept of 20.04 grams per tonne gold (Au) and 240g/t silver (Ag) over 0.85m, within a broader 3.6m interval grading 8.66g/t Au and 289.6g/t Ag.
The Tension vein continues to demonstrate strong polymetallic grades. Hole CA-26-31 returned 3.37g/t Au, 1,329.6g/t Ag, and 1.81% copper (Cu) over 1.6m, including 5.84g/t Au, 2,251g/t Ag, and 3.01% Cu over 0.9m.
Hole CA-26-32 intersected the Tension vein with 6.92g/t Au, 654g/t Ag, and 1.69% Cu over 0.8m, within a longer 16.75m interval averaging 1.21g/t Ag, 101.6g/t Au, and 0.14% Cu.
Drilling also confirmed continuity of the Callanquitas East oxide zone, with CA-26-31 returning 4.31g/t Au and 8g/t Ag over 0.6m. PPX discovered a new mineralised zone in the same hole, returning 5.28g/t Au and 10.4g/t Ag over 1.5m in oxide material.
CEO Ernest Mast says the results confirm ‘high gold and silver grades’ in the Tension vein sulphides and demonstrate geological continuity, along with copper.
“These results confirm high Au and Ag grades in the Tension vein in sulfide and its geological continuity, along with Cu,” Mast adds.
The three holes were drilled along the same azimuth across about 120m of vertical extent, indicating silver values are likely hypogene rather than supergene enrichment. Oxide mineralisation at Callanquitas East persists to about 75m below historical hole CA-25-23.
Mineralisation remains open to the north and at depth in both zones. The results will assist in updating sulphide and oxide resource estimates, with further drill results to be reported throughout 2026.
PPX Mining is a Canadian precious metals company, operating the Callanquitas Mine under a 75% joint venture with Proyectos La Patagonia.
Write to JC Villarba at Mining.com.au
Images: PPX Mining
