Update on other Projects
During the 2012/2013 field season the Company also drilled the Josemaria Project located approximately 12 kilometers to the southeast of Los Helados completing a total of 8,242 meters in 18 diamond drill holes. Drilling at Josemaria focused on extending the current resource to the north. Initial results released on March 25, 2013 extended a previously intersected zone of supergene enriched high grade mineralization approximately 100 metres to the north. The results of the remaining drill holes are pending. In addition, the Company completed four drill holes totaling 829 meters at the Filo del Sol Project. Results from Filo del Sol are pending. The objective of the Filo del Sol program was to extend a zone of high grade copper and silver mineralization identified in previous drilling. The Filo del Sol program was curtailed after 5 holes due to poor ground conditions preventing drill holes from being completed to the target depths. Alternate drilling methods will be evaluated over the winter prior to a more extensive drill program planned for next season.
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.
On behalf of the board
Wojtek Wodzicki, President and CEO
Qualified Person and Assay Methods
The drill core was logged, sawed, and half cores were sampled in their entirety in two meter intervals at the Company's core processing facility located in Copiap , Chile. Samples were shipped to Acme Analytical Laboratories sample preparation facility also in Copiap , and pulps were forwarded to the Acme lab in Santiago, Chile. Samples were crushed, split and 500g was pulverized to 85% passing 200 mesh. Gold analyses were by fire assay fusion with AAS finish on a 30g sample. Copper was analyzed by AAS using a 4 acid digestion and samples were also analyzed for a suite of 36 elements with ICP-ES. Copper and gold standards as well as blanks and duplicates (field, preparation and analysis) were randomly inserted into the sampling sequence for Quality Control. On average, 9% of the submitted samples correspond to Quality Control samples.
Mr. Bob Carmichael, B.A.Sc, P.Eng., is the Qualified Person as defined by National Instrument 43-101. Mr. Carmichael is Vice President, Exploration for the Company and has reviewed and approved the technical information contained in this news release. The Quality Control/Quality Assurance (QA/QC) program on Los Helados Project is under the management of Diego Charchaflie MSc., P.Geo (BC), a Qualified Person pursuant to NI 43-101.
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