Copper-gold assays boost gravity of Jupiter at NGEx’s Lunahuasi project

Drill results from NGEx Minerals’ (TSX: NGEX; US-OTC: NGXXF) Lunahuasi copper-gold-silver project in northern Argentina extended the high-grade Jupiter zone while also expanding the Saturn zone.

Highlight hole DPDH077 in Jupiter cut 10 metres grading 0.88% copper, 3.14 grams gold per tonne and 12.2 grams silver from 89 metres depth, including 7.6 metres at 18.84% copper, 5.54 grams gold and 336.7 grams silver NGEx reported Wednesday. Lunahuasi is about 1,300 km northwest of Buenos Aires.

“Hole DPDH077 is a good reminder that the Jupiter Zone, which was first intersected by the Lunahuasi discovery drillhole, is not to be overlooked,” NGEx CEO Wojtek Wodzicki said in a release.

Jupiter’s growing force

While the company has drilled fewer holes into Jupiter than the Saturn and Mars targets, intersections across Jupiter in a 400-metre x 500-metre area show the potential of this major zone, Wodzicki added.

The latest assays bolster Lunahuasi’s emergence as one of the world’s highest-grade undeveloped copper-gold-silver discoveries. Drilling is continuing to expand and connect mineralized zones that could support a larger future resource.

The intersections in Jupiter suggest significant size potential for the zone and it will be a priority target for the stage 5 program. NGEx didn’t specify when that stage will start.

Saturn shines

In the Saturn zone, hole DPDH069 cut 13 metres grading 1.07% copper, 1.31 grams gold and 37.6 grams silver from 437 metres depth, including 135 metres grading 1.18% copper, 0.81 gram gold and 27.2 grams silver.

Hole DPDH072, also in Saturn, returned 34 metres grading 1.43% copper, 1.8 grams gold and 40.2 grams silver from 193 metres depth, including 6 metres at 3.75% copper, 4.82 grams gold and 93.1 grams silver.

The intersections in that hole might point to an emerging new zone east of Saturn, NGEx said. Saturn could be a large, structurally controlled zone of disseminated and stockwork mineralization cut by many high to very high-grade veins.

The results are from the stage 4 drill program at Lunahuasi, comprising 27,318 metres across 32 holes.

NGEx shares fell 2% to $23.96 apiece mid-day Wednesday in Toronto, for a market capitalization of $5.2 billion. The stock has traded in a 12-month range of $16.35 to $32.41.