NGEx Expands High-grade Silver Resource at Filo del Sol

NGEx Resources Inc. (TSX:NGQ) announced results from the last 14 holes completed during 2014/2015 drilling at its Filo del Sol copper-gold-silver project, located in Chile and Argentina. The holes reportedly expand the high-grade silver resource announced on December 2, 2014 and show that it’s part of a “much larger mineralized system.”

As quoted in the press release:

The fourteen holes released here span a north-south distance of just over 3,800 metres, with RCVI-20 at the southern edge of the drill pattern and VRC93 at the north. Highlights include:

• VRC89 which intersected 42 meters of 1.13 g/t gold and 145.6 g/t silver 170 metres north of the resource block model. VRC89 tested a target that was interpreted to be one of several possible feeder zones. The elevated gold grades suggest that this hole may be proximal to a feeder.

• VRC93 which intersected 26 meters of 0.48 g/t gold and 39.5 g/t silver within a wider zone of 166 meters of 0.24 g/t gold and 11.9 g/t silver 1,900 metres north of the resource block model and 1,700 metres north of VRC89.

• RCVI-20 which intersected 114 meters of 0.15 g/t gold and 0.51% copper 750 metres to the south of the resource block model.

Geological mapping completed during the field season demonstrates that the Filo del Sol epithermal system extends for a distance of at least 4,000 metres north-south by 900 metres east-west and is buried under a thin layer of post-mineral volcanics to the north. The current resource extends for 1.5 kilometres at the southern end of this system, and remains open to expansion towards the north.

The mapping also confirmed that the Filo del Sol system is divided between a southern fault block which hosts deeper-level porphyry-style mineralization and a northern down-dropped fault block which preserves the shallower epithermal system.

Wojtek Wodzicki, president and CEO of NGEx, commented:

The drill results released today and particularly VRC93 confirm our view that the current Filo resource is part of a much larger mineralized system. These drill results, together with the new surface geology mapping, indicate that the Filo del Sol hydrothermal system extends well beyond the resource area and demonstrate the potential to both significantly expand the current resource and discover new deposits, including feeder zones, within this large system.

Click here to read the full NGEx Resources Inc. (TSX:NGQ) press release.