Argentina/Chile
Los Helados
The Los Helados project is located in Chile's Region III approximately 170 kilometres southwest of the town of Copiapó (population approximately 124,000). Copiapó is a regional mining center that is home to Freeport's Candelaria copper mine as well as numerous smaller operations.
A drill program completed in mid-2010 successfully defined a significant zone of porphyry copper mineralization through a series of step outs from a key hole, LH-04, drilled in 2009. LH-04 had intersected 762 m of 0.43% copper and 0.22 g/t gold including 345 m of 0.57% copper and 0.21 g/t gold. The results of the step out program confirmed the presence of a large mineralized porphyry copper system that extends approximately 1,000 metres north-south and 700 metres east-west. The system is open to the south, west, and east. The drilling as well as surface mapping and sampling completed during the program also confirmed the potential for high sulfidation gold mineralization in the upper (eastern) portions of the Los Helados system.
NGEx completed a 9,638 metre, 13-hole drill program at Los Helados in mid-May 2011. Highlights include drill hole LH-12 with 711 metres of 0.54% copper and 0.26 g/t gold, including 114 metres of 0.67% copper and 0.19 g/t gold; and Hole LH 16 with 701 metres of 0.67% copper and 0.30 g/t gold.
NGEx is encouraged by both the length and grade of the intercepts and by the fact that the drill holes contain long intervals of better than 0.6% copper plus gold. Because of the gold, the reported intervals look even more encouraging on a copper equivalent basis. Drilling has demonstrated so far that the higher grade portion system is well mineralized with an estimated area of approximately 600 metres by approximately 500 metres and is open to the west, south and east. In addition, the higher grade mineralization is open at depth, extending to more than 750 metres depth. Future drilling will test this depth potential as well as test for further expansion laterally. A major drill program is scheduled to start in November, 2011 at the beginning of the South American spring. This program will include drills with the capability to drill to more than 1 kilometre depth.
Los Helados is one of several large porphyry copper-gold systems including the Company's Josemaria and Filo del Sol projects all located with the large block of contiguous claims that the company controls in Region 3 Chile and adjacent San Juan Province, Argentina. Nearby deposits held by other companies include Caserones-Regalito (Pan Pacific Copper) and El Morro (Goldcorp/New Gold). The Company holds a 60% interest in the Los Helados project. Japan, Oil, Gas, and Metals National Corporation ("JOGMEC") holds the remaining 40% interest in the project. Both parties contribute their pro-rata share of exploration expenditures.
2005 - 2011 Drill Results Summary
Maps and Photos
The Los Helados project is located in Chile's Region III approximately 170 kilometres southwest of the town of Copiapó (population approximately 124,000). Copiapó is a regional mining center that is home to Freeport's Candelaria copper mine as well as numerous smaller operations.
A drill program completed in mid-2010 successfully defined a significant zone of porphyry copper mineralization through a series of step outs from a key hole, LH-04, drilled in 2009. LH-04 had intersected 762 m of 0.43% copper and 0.22 g/t gold including 345 m of 0.57% copper and 0.21 g/t gold. The results of the step out program confirmed the presence of a large mineralized porphyry copper system that extends approximately 1,000 metres north-south and 700 metres east-west. The system is open to the south, west, and east. The drilling as well as surface mapping and sampling completed during the program also confirmed the potential for high sulfidation gold mineralization in the upper (eastern) portions of the Los Helados system.
NGEx completed a 9,638 metre, 13-hole drill program at Los Helados in mid-May 2011. Highlights include drill hole LH-12 with 711 metres of 0.54% copper and 0.26 g/t gold, including 114 metres of 0.67% copper and 0.19 g/t gold; and Hole LH 16 with 701 metres of 0.67% copper and 0.30 g/t gold.
NGEx is encouraged by both the length and grade of the intercepts and by the fact that the drill holes contain long intervals of better than 0.6% copper plus gold. Because of the gold, the reported intervals look even more encouraging on a copper equivalent basis. Drilling has demonstrated so far that the higher grade portion system is well mineralized with an estimated area of approximately 600 metres by approximately 500 metres and is open to the west, south and east. In addition, the higher grade mineralization is open at depth, extending to more than 750 metres depth. Future drilling will test this depth potential as well as test for further expansion laterally. A major drill program is scheduled to start in November, 2011 at the beginning of the South American spring. This program will include drills with the capability to drill to more than 1 kilometre depth.
Los Helados is one of several large porphyry copper-gold systems including the Company's Josemaria and Filo del Sol projects all located with the large block of contiguous claims that the company controls in Region 3 Chile and adjacent San Juan Province, Argentina. Nearby deposits held by other companies include Caserones-Regalito (Pan Pacific Copper) and El Morro (Goldcorp/New Gold). The Company holds a 60% interest in the Los Helados project. Japan, Oil, Gas, and Metals National Corporation ("JOGMEC") holds the remaining 40% interest in the project. Both parties contribute their pro-rata share of exploration expenditures.
2005 - 2011 Drill Results Summary
Maps and Photos
