Lunahuasi Project Continued To Exceed Expectations

Lunahuasi Project Continued To Exceed Expectations

VANCOUVER РNGEx Minerals Ltd. reported on drilling at the Lunahuasi Project located in the Vicu̱a District in San Juan Province, Argentina. Lunahuasi drilling continues to intersect long, bonanza-grade mineralized intervals in a zone which remains open in all directions.

Wojtek Wodzicki, President and CEO, commented, “Lunahuasi continues to exceed our expectations and these new holes have delivered some of the longest, highest-grade, combined copper, gold and silver intersections seen globally for a long time. The deposit remains open in all directions and is rapidly turning into a major new discovery. In addition to the high grades in individual structures, we are starting to see longer intervals of stockwork and disseminated mineralization towards the western part of the deposit.”

DPDH010 was reported to a depth of 355.3m. The hole was collared on Section 6225N and drilled to the west at an angle of -55 degrees to a total depth of 1,070.2m. The 62.6m intersection from 226.0m is interpreted to be the same structure drilled in holes DPDH002 (212.0m to 272.0m) and DSDH009 (144.0m to 272.3m). Mineralized structures below 288.6m cannot yet be reliably correlated with adjacent holes due to distances between holes and incomplete assay data for adjacent holes.

DPDH011 was collared 80m northeast of DPDH010 on Section 6275N and drilled to the west at an angle of -62 degrees to a total depth of 419m. The hole intersected 3 discrete mineralized structures.    

DPDH014 was collared 50m east and 50m south of DPDH007 on Section 6225N and drilled to the west at -55 degrees to a total depth of 976.8m, intended to test the down-dip extent of the high-grade zone in DPDH007. A thick section of high-grade mineralization from 171.2m to 243.0m correlates very well with the zone in DPDH007 and is 90m away from it. Both intersections have high precious metal grades, supporting the interpretation that they represent the same zone. This zone remains open in all directions beyond DPDH014. From 533m to 960m the hole intersected both stockwork and disseminated mineralization and a series of discrete high-grade structures.

Full assay results have now been reported for ten holes at Lunahuasi (including six holes from last season) and drilling is beginning to outline a significant copper, gold and silver deposit. Mineralization has been intersected over: 1) An east/west distance of 750m from DPDH014 at 60.0m to DPDH010 at 1,070.2m. 2) A north/south distance of 180m from DPDH008 at 61.7m to DPDH002 at 648.0m. 3) A vertical distance of 890m from DPDH005 at 32.0m to DPDH005 at 989.0m.

The deposit remains open in all directions beyond these dimensions. Mineralization is remarkably consistent across this volume, typically occurring as mixed coarse-grained pyrite, enargite and lesser covellite, ranging from disseminations through semi-massive and breccia-fill textures to massive sulphide zones up to several metres in core length. There appears to be a transition from discreet high-grade structures separated by unmineralized and propylitically altered wall rock in the east towards higher temperature alteration and stockwork and disseminated mineralization to the west. This style of mineralization is typified by DPDH010 between 609.3m and 1,070.2m and DPDH014 from 533.0m to 960.0m and is comprised of almost continuous alteration of the host rhyolite and andesite cut by an apparent stockwork of massive sulphide veins ranging from 5cm to 5m thick.

Drilling is continuing with four rigs currently active. Holes DPDH001 through DPDH008 were completed and reported last season, and four holes from the current season, DPDH009, DPDH010, DPDH011 and DPDH014 have now been reported. A total of 15,000m is planned for the current program with 8,614m drilled to date. In addition to the holes reported here, five holes have been completed to date (DPDH012 to 704.0m, DPDH013 to 1,033.4m, DPDH015 to 917.5m, DPDH016 to 773.0m and DPDH017 to 393.0m) and four holes are currently in progress (DPDH018 at 1,052.0m, DPDH019 at 317.0m, DPDH020 at 233.0m and DPDH021 at 143.5m). Assays have been received for 3,485m of the current program with the remainder pending. Assay results for completed holes will be released as they are received, analyzed, and confirmed by the Company.