Drilling Update At Portachuelos And Commencement Of Drilling At Tesoros

VANCOUVER, BC - PPX Mining Corp. reported that diamond core drilling at the new Portachuelos discovery has intercepted 31.9 meters grading 0.86 gpt Au, 48.7 gpt Ag, 1.51 gpt Au Eq in drill hole CA-18-99, the final drill hole of the current Portachuelos program.  CA-18-99, oriented 036, -70 degrees, intercepted four mineralized zones.

These mineralized zones correlate with multiple stacked mineralized breccias seen in adjacent drill holes which demonstrate that these breccia zones project from depth to the surface and confirm gold and silver mineralization over a vertical range in excess of 400 meters at Portachuelos.  Based on the recently completed drilling, the Portachuelos system has a strike length of at least 1,000 meters.  Mineralization remains open at depth, to the northwest, and to the southeast in the direction of the Tesoros drill target.  

PPX is also pleased to announce that drilling has commenced at the Tesoros target located 1,500 meters southeast of Portachuelos.  Historic drilling at Tesoros (17 drill holes totaling 1,769 meters) cut a thick, tabular breccia zone, analogous to Portachuelos, that can be traced in outcrop over a distance of over 1,000 meters.  Highlights of historic drilling include drill hole 9d which cut 75.2 meters grading 3.10 gpt Au, 109 gpt Ag, 4.55 gpt Au Eq at an average vertical depth of 50 meters.  Results from the initial drill holes are expected shortly.

Brian J. Maher, President and CEO said, “The final drill hole of the Portachuelos drill campaign produced results consistent with earlier drilling: multiple stacked gold and silver mineralized breccias that correlate with mineralized horizons seen in adjacent drill holes.  The volume of mineralized material seen at Portachuelos is impressive and underscores the intensity of mineralizing processes at Portachuelos. The robust nature of hydrothermal system is evidenced by the pervasive nature of gold and silver mineralization:  the average grade of all intervals in drill hole CA-18-99 was 0.24 gpt Au Eq over nearly 560 meters.  The Company is designing a second Phase of drilling at Portachuelos for the second half of 2018 with the objective of outlining the ultimate geometry of precious metal mineralization.”

Core sampling protocols and QA/QC:  PPX geologists collect diamond drill hole samples from core immediately after geologic and geotechnical logging.  Samples are collected based on natural breaks in geologic features and also on individual drill runs. Samples are broken at obvious geologic boundaries to correctly separate rock types, mineralization styles and hydrothermal alteration assemblages.  Samples are collected by cutting the core in half using a diamond saw, preserving the second half for check analyses, further study and reference. Samples are sealed, labeled and stored in a secure area prior to shipment to SGS Laboratories in Trujillo, Peru. Gold and silver analyses are conducted by the fire assay method with a CN leach.  Blanks and standards are inserted approximately every 10 samples; duplicate samples are included at the same intervals.  Duplicate fire assays for approximately every 30 samples are sent to a second assay laboratory for umpire analysis.  Au Eq is calculated as follows: Au Eq = (Au gpt) + (Ag gpt/75).

PPX Mining Corp. is a exploration and development company with assets in northern Peru. Igor, the Company’s 100%-owned flagship gold and silver project, is located in the prolific Northern Peru gold belt in eastern La Libertad Department. PPX is pursuing a two-prong strategy to further develop and explore the Igor Project.  The Company’s underground test mining and bulk sampling program on the Callanquitas structure is designed to upgrade the resource estimate and generate data to evaluate future mine development at Igor through the PFS process. Simultaneously, PPX is accelerating its exploration program at Igor in order to fully evaluate the resource potential of the entire Igor project area.  The Callanquitas structure is open along strike and at depth, parallel structures are unexplored. New discoveries at Portachuelos, coupled with the Domo and Tesoros exploration targets, emphasize that the Igor Project is evolving into a district-scale project with multiple deposits and mineralized zones.