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PPX Mining Corp.

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PPX Mining Corp.

Investor website: https://www.ppxmining.com/

About

PPX Mining Corp. is a Canadian-based mining company operating in northern Peru, specifically focused on the high-grade Callanquitas Mine and advancing the Igor Project. The company is strategically backed by Glencore, with a significant investment aimed at accelerating exploration and development in the region. PPX is committed to reducing operating costs and improving recoveries through the construction of its own mill near the mine.

Verified company data

Cash position
C$26M
Shares outstanding
30000000
Fully diluted shares
1,134,581,088
Mineral resource
NI 43-101 compliant resource estimate prepared by Mining Plus of Lima, Peru and Toronto, Canada. | Category | Tonnes | Au Grade | Au Oz | Ag Grade | Ag Oz | AuEq | AuEq Oz | | --- | --- | --- | --- | --- | --- | --- | --- | | Measured & Indicated | 663,700 t | 3.80 g/t | 81,090 oz | 137 g/t | 2.923 M oz | 4.70 g/t | 100,290 oz | | Inferred | 759,000 t | — | 83,970 oz | — | 3.818 M oz | 8.21 g/t | 200,500 oz | AuEq is calculated using the formula AuEq oz = Au oz + Ag oz / 75, per PFS, inclusive of metallurgical recovery. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resource will be converted into mineral reserves.
Projects
["The Igor Project, in La Libertad.Northern Peru.the Andes.the gold belt.\n\nAn operating Au-Ag mine plus three district areas, in the Western Cordillera of the Andes — 140 km from Trujillo, in the District of Huaranchal, Province of Otuzco.\n\n1,400+ Ha4 Districts1 Operating MineGlencore-Backed\n\nWhere We Operate\n\nIgor is located in northern Peru in the Western Cordillera of the Andes — in the District of Huaranchal, Province of Otuzco, Department of La Libertad.\n\nTrujillo, a city of some 800,000 inhabitants and the capital of La Libertad, serves as the point of departure when travelling to the project. Trujillo is 560 km from Lima — a seven-hour drive or one-hour flight. Igor sits 140 km from Trujillo.\n\nBy The Numbers\n\nThe footprint, in numbers.\n\n01\n\n0 km\n\nFrom Trujillo, La Libertad\n\n02\n\n0+ Ha\n\nTotal Mining Claims\n\n03\n\n0 Ha\n\nKey Surface Rights\n\n04\n\n0\n\nProject Districts\n\nProject Districts\n\nFour districts. One operating mine. District-scale upside.\n\n01Callanquitas02Extension Callanquitas03Portachuelos04Other Exploration Areas\n\n01 · In Production\n\nCallanquitas\n\n01 · In Production\n\n### Callanquitas\n\nAn operating Au-Ag mine. The Callanquitas Structure has been continuously evaluated and expanded since the first 2008 drill hole, anchoring PPX's production today.\n\n- Au/Ag mine in operation and production.\n- Profitable in gold and silver hosted in iron oxides.\n- Main structure 5–20 m wide, 900 m long, surface to 300–400 m depth.\n\nProject District\n\n## Attributes & details.\n\nA snapshot of location, components, claims, neighbours and infrastructure for the Igor land package.\n\nLocation140 km from Trujillo · District of Huaranchal · Province of Otuzco · La Libertad, Peru.\n\nMajor ComponentsCallanquitas Mine, Extension of Callanquitas, Portachuelos and Other Exploration Areas.\n\nMining ClaimsOver 1,400 Ha. PPX holds 409 Ha of key surface rights.\n\nProject ProximityLagunas Norte (10M Oz Au), La Arena (2M Oz Au), Shahuindo (1M Oz Au), Yanacocha (40M Oz Au) — ounces produced.\n\nInfrastructure90 km paved + 49 km unpaved + 20 km dirt access. Medium-voltage transmission line 7 km from site (Huaranchal District — project underway).\n\nEnvironmental & SocialSocial agreements in place through 2028.\n\nExploration History\n\nFrom the first surface samples in 2005 to the Portachuelos discovery in 2018, the Igor Project has been continuously evaluated and expanded.\n\n1. June 2005 – 2008\n\n### Acquisition & first surface program\n\nPPX acquired the Igor Project in June 2005. Over the next three years the company mapped and took approximately 3,100 rock and 250 soil samples. Three drill campaigns followed, largely focused on the Domo and Tesoros areas.\n\n2. 2008\n\n### First Callanquitas drill hole\n\nExploratory drilling outside Domo and Tesoros intercepted significant gold and silver mineralization. The presence of copper and porphyry-type alteration suggested Igor may be underlain by a porphyry copper deposit.\n\nDrill HoleCA-01b\n\n218 m @ 0.6 g/t Au · 22.3 g/t Ag\n\nIncluding 27.3 m @ 2.1 g/t Au, 35.4 g/t Ag. Hole finished at 230.7 m with a 2 m interval grading 1.7 g/t Au, 61.8 g/t Ag and 0.44 % Cu.\n\n3. 2010 – May 2011\n\n### First major drilling campaign\n\nPPX resumed work in 2010 with a 2,500 m drill campaign at Callanquitas to delineate the near-surface oxide gold-silver mineralization first identified in 2008. The extended campaign finished in early May 2011 with 4,235 m of diamond drilling, defining the main Callanquitas structure approximately 5–20 m wide, 900 m long, and extending from surface to 300–400 m depth — open to north, south and at depth.\n\n4. December 2012\n\n### First NI 43-101 resource\n\nDrilling focused on higher-grade zones, particularly the central sector of the Callanquitas Structure. The work culminated in a NI 43-101 compliant resource estimate and Technical Report for the Callanquitas Structure (filed on SEDAR; amended September 27, 2013).\n\n5. 2017 – 2018\n\n### Phase One — 6,000 m two-rig program\n\nDrilling resumed at Igor with a Phase One 6,000 m program using two drill rigs — split between in-fill and resource expansion at Callanquitas, and testing the Domo, Tesoros and Portachuelos targets. The Callanquitas drilling outlined high-grade Au-Ag shoots with excellent continuity.\n\nDrill HoleCA-17-86\n\n12.6 m @ 8.34 g/t Au · 207 g/t Ag (11.10 g/t AuEq)\n\nIncluding 3.3 m grading 27.72 g/t Au and 242 g/t Ag (30.97 g/t AuEq). Phase One in-fill / resource expansion at Callanquitas.\n\n6. Late 2017 – Early 2018\n\n### Portachuelos discovery\n\nPhase One drilling discovered a new shallow Au-Ag mineralized zone at Portachuelos, 800 m south of the Callanquitas resource. The zone has a minimum strike length of ~650 m and true thickness up to 40 m, hosted by tectonic and hydrothermal breccia along a north-northwest trending zone — open in all directions.\n\nDrill HoleCA-18-94\n\n40.2 m @ 1.18 g/t Au · 115.4 g/t Ag (2.72 g/t AuEq)\n\nAt a vertical depth of approximately 25 m. Highlights the significance of the Portachuelos discovery.\n\nThe Igor Project is evolving into a district-scale project with multiple deposits and mineralized zones."]
Leadership
Ernest Mast (President and Chief Executive Officer), Diego Bellido (Director, Senior Glencore executive with over 15 years in global commodities trading, currently Manager for Glencore Peru S.A.C. and Glencore Lima Trading S.A.C.), John Thomas (Chief Operating Officer), Andrés Osorio Anaya (Operations Manager, MBA, Mining Engineer with over 34 years of international mining experience across multiple countries, previously held senior executive positions in various mining companies), Brian Imrie (Executive Chairman)

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