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The Mineral Resource estimate for Josemaria was prepared by Gino Zandonai, B.Sc., M.Sc. Mining, SME, MAusIMM, CRIRSCO, Senior Associate of Behre Dolbear International Ltd. in accordance with NI 43-101. Mr. Zandonai is the Qualified Person for the estimate and is independent of the Company. A Technical Report describing the details of the resource estimate will be available under the Company's profile on SEDAR within 45 days.
METALLURGICAL TEST WORK
The results of the locked cycle test are shown in the table below:
---------------------------------------------------------------------------- Cu Cu Au Au Head Cu Concentrate Head Au Concentrate Grade Recovery Grade Grade Recovery GradeTest (%) (%) (%) (gpt) (%) (gpt)----------------------------------------------------------------------------LCT 1 0.56 85.1 25.1 0.46 69.4 16.8----------------------------------------------------------------------------
Flotation test work was carried out by SGS Lakefield Research at its facilities in Vancouver. Test work was done on a 162 kg composite sample constructed from 8 individual drill core composite samples from 4 drill holes representing 650 meters of mineralization (totalling 1,164kg). SGS Lakefield completed a comprehensive initial test program consisting of sample preparation, rougher flotation kinetics, cleaner flotation tests and one locked cycle flotation test.
Rougher and cleaner flotation tests were done in order to establish the optimum grind size, pH and reagent use to produce a commercial grade concentrate. Locked cycle flotation tests were then carried out using the following parameters:
- Grind Size (p80) 106 microns- Regrind Size (p80) 36 microns- Rougher pH 9.6- Cleaner pH 11.5
Additional test work will be performed on a much larger suite of samples to obtain more extensive metallurgical response data across the mineralization. This work will focus on further optimizing the balance between recovery and concentrate grade and continuing to refine the optimum flotation conditions for the Josemaria mineralization.
Exploration Program
The Company is currently drilling at Josemaria. The main objective of the drill program is try to extend the current resource by following up the previously announced intercepts of high grade copper-gold mineralization intersected on the northern boundary of the current resource. An initial 5,000 meters has been budgeted for this step out program with a provision to expand the program contingent on results.
About NGEx
NGEx is a Canadian mineral exploration company with exploration projects in Chile, Argentina, and Canada. The Company's shares are listed on the Toronto Stock Exchange under the symbol "NGQ". The Company's focus is on advancing its Vicuna Project which includes several large copper-gold systems including the Josemaria, Los Helados, and Filo del Sol projects, located on a contiguous land package that the Company holds in Chile's Region III and adjacent San Juan Province, Argentina. Los Helados and Filo del Sol are part of a joint venture in which the Company holds 60% and Pan Pacific Copper Corporation holds 40%. Josemaria is part of a joint venture in which the Company holds 60% and Japan Oil, Gas, and Metals National Corporation (JOGMEC) owns 40%. In addition to the Vicuna Project the Company holds an extensive portfolio of 100% owned early stage exploration projects located in Chile and Argentina. It also owns a 100% interest in the GJ copper and gold project located in British Columbia Canada. The GJ project is optioned to Teck Resources who are earning up to a 75% interest.
