NGEx Continues Testing Potential To Recover Gold At Josemaria

 

VANCOUVER, BC - NGEx Resources Inc. that it continues to take advantage of opportunities to add value to Project Constellation by evaluating lower cost development options, testing the potential to recover gold from the oxide cap at Josemaria by heap leaching, and continuing baseline environmental studies. Over the past few months, the Company evaluated the leach amenability of the oxide cap at Josemaria through a series of metallurgical tests and studies and explored whether this material is amenable to heap leaching. The oxidized leached cap at Josemaria contains approximately 450,000 ounces of gold within an Indicated resource of 43 million tonnes at an average grade of 0.32 g/t gold. This material was considered waste in the Preliminary Economic Assessment completed in early 2016 (the "PEA") as no metallurgical test work had been completed at that time. Preliminary results were received from column leach metallurgical test work on material from the oxide cap and the results show good leach kinetics, with gold recovery ranging between 72% and 78%, depending on crush size, and indicate that leach recovery of gold from this portion of the resource is technically feasible. The Company is actively working on building its project portfolio with a focus on copper-gold projects in Chile and Argentina and evaluating a number of exploration projects in Argentina for potential acquisition.