NGEx Reports Q2 2026 Results; Phase 4 drilling delivers high grades and expands Lunahuasi Deposit
Original announcement by tmx on
- Company
- NGEx Minerals Ltd.
- Ticker
- NGEX
- Exchange
- TSX
- Region
- San Juan Province, Argentina
- Primary commodity
- Copper
- Secondary commodities
- Gold, Silver
- Document categories
- Drill results, Production
- Extracted
- 2026-09-14 10:34:27 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
NGEx Minerals reported Q2 2026 results highlighted by significant Phase 4 drill results at the Lunahuasi project, including high-grade copper-equivalent intercepts and the expansion of the Saturn, Mars, and Jupiter zones. The company also reported a net loss of $20.0 million for the quarter and announced a corporate reorganization to spin off its Argentinian and Chilean assets.
Reasoning: Phase 4 drilling delivered exceptional high-grade CuEq and gold intercepts, expanding several key zones and discovering a new high-grade area, significantly advancing the Lunahuasi project.
Positive factors
- High-grade CuEq intercepts in Saturn, Mars, and Jupiter zones
- Expansion of mineralized footprint and discovery of new high-grade zone
- Strong continuity of high-grade gold quartz veins
- Successful completion of Phase 4 drill program
Negative factors
- Net loss reported for Q2 2026
Facts used in scoring: 7
Extracted facts
Stored fact records: 7. Some facts used in scoring do not have a stored record.
Drill Results (7)
DPDH064Lunahuasi · copperGrade: 6.49Grade Unit: %Intercept: 88 mView all detailsHide details
Identity
- Hole ID
- DPDH064
- Project
- Lunahuasi
- Commodity
- copper
- Region
- argentina
- Reported Region
- argentina
- Ticker
- NGEX
Geometry
- Grade
- 6.49
- Grade Unit
- %
- Intercept
- 88 m
Classification
- Sample Type
- drill
- Group ID
- DPDH064:88.0-88.0
QA/QC
- QP Signed
- Yes
Metal Equivalent
- Metal Eq. Grade
- 8.65
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-08-06T00:00:00.000Z
Reasoning: High-grade copper intercept within a significant CuEq interval.
Positive factors
- Exceptional copper grade
Evidence · text
“88.00 metres at 8.65% CuEq (6.49% Cu, 1.91 g/t Au, 87.8 g/t Ag)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "The results obtained this season provide a strong foundation as we continue to move Lunahuasi forwards and will guide pl"
DPDH064Lunahuasi · goldGrade: 1.91Grade Unit: g/tIntercept: 88 mView all detailsHide details
Identity
- Hole ID
- DPDH064
- Project
- Lunahuasi
- Commodity
- gold
- Region
- argentina
- Reported Region
- argentina
- Ticker
- NGEX
Geometry
- Grade
- 1.91
- Grade Unit
- g/t
- Intercept
- 88 m
Classification
- Sample Type
- drill
- Group ID
- DPDH064:88.0-88.0
QA/QC
- QP Signed
- Yes
Metal Equivalent
- Metal Eq. Grade
- 8.65
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-08-06T00:00:00.000Z
Reasoning: Gold component of a high-grade CuEq intercept.
Evidence · text
“88.00 metres at 8.65% CuEq (6.49% Cu, 1.91 g/t Au, 87.8 g/t Ag)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "The results obtained this season provide a strong foundation as we continue to move Lunahuasi forwards and will guide pl"
DPDH064Lunahuasi · silverGrade: 87.8Grade Unit: g/tIntercept: 88 mView all detailsHide details
Identity
- Hole ID
- DPDH064
- Project
- Lunahuasi
- Commodity
- silver
- Region
- argentina
- Reported Region
- argentina
- Ticker
- NGEX
Geometry
- Grade
- 87.8
- Grade Unit
- g/t
- Intercept
- 88 m
Classification
- Sample Type
- drill
- Group ID
- DPDH064:88.0-88.0
QA/QC
- QP Signed
- Yes
Metal Equivalent
- Metal Eq. Grade
- 8.65
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-08-06T00:00:00.000Z
Reasoning: Silver component of a high-grade CuEq intercept.
Evidence · text
“88.00 metres at 8.65% CuEq (6.49% Cu, 1.91 g/t Au, 87.8 g/t Ag)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "The results obtained this season provide a strong foundation as we continue to move Lunahuasi forwards and will guide pl"
DPDH064Lunahuasi · copperGrade: 24.33Grade Unit: %Intercept: 15.65 mView all detailsHide details
Identity
- Hole ID
- DPDH064
- Project
- Lunahuasi
- Commodity
- copper
- Region
- argentina
- Reported Region
- argentina
- Ticker
- NGEX
Geometry
- Grade
- 24.33
- Grade Unit
- %
- Intercept
- 15.65 m
Classification
- Sample Type
- drill
- Group ID
- DPDH064:15.65-15.65
QA/QC
- QP Signed
- Yes
Metal Equivalent
- Metal Eq. Grade
- 30.13
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-08-06T00:00:00.000Z
Reasoning: Extremely high grade copper intercept.
Positive factors
- Bonanza grade copper
Evidence · text
“15.65 metres at 30.13% CuEq (24.33% Cu, 4.72 g/t Au, 268.1 g/t Ag)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "The results obtained this season provide a strong foundation as we continue to move Lunahuasi forwards and will guide pl"
DPDH077Lunahuasi · copperGrade: 6.51Grade Unit: %Intercept: 57.75 mView all detailsHide details
Identity
- Hole ID
- DPDH077
- Project
- Lunahuasi
- Commodity
- copper
- Region
- argentina
- Reported Region
- argentina
- Ticker
- NGEX
Geometry
- Grade
- 6.51
- Grade Unit
- %
- Intercept
- 57.75 m
Classification
- Sample Type
- drill
- Group ID
- DPDH077:57.75-57.75
QA/QC
- QP Signed
- Yes
Metal Equivalent
- Metal Eq. Grade
- 9.41
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-08-06T00:00:00.000Z
Reasoning: Strong copper grade in the Jupiter zone.
Positive factors
- High grade copper intercept
Evidence · text
“57.75 metres at 9.41% CuEq (6.51% Cu, 2.50 g/t Au, 121.8 g/t Ag)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "The results obtained this season provide a strong foundation as we continue to move Lunahuasi forwards and will guide pl"
DPDH070Lunahuasi · goldGrade: 207.79Grade Unit: g/tIntercept: 17.3 mView all detailsHide details
Identity
- Hole ID
- DPDH070
- Project
- Lunahuasi
- Commodity
- gold
- Region
- argentina
- Reported Region
- argentina
- Ticker
- NGEX
Geometry
- Grade
- 207.79
- Grade Unit
- g/t
- Intercept
- 17.3 m
Classification
- Sample Type
- drill
- Group ID
- DPDH070:17.3-17.3
QA/QC
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-08-06T00:00:00.000Z
Reasoning: Very high grade gold intercept.
Positive factors
- Exceptional gold grade
Evidence · text
“DPDH070 intersected 17.30 metres at 207.79 g/t Au”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "The results obtained this season provide a strong foundation as we continue to move Lunahuasi forwards and will guide pl"
DPGT004Lunahuasi · copperGrade: 2.75Grade Unit: %Intercept: 23.1 mView all detailsHide details
Identity
- Hole ID
- DPGT004
- Project
- Lunahuasi
- Commodity
- copper
- Region
- argentina
- Reported Region
- argentina
- Ticker
- NGEX
Geometry
- Grade
- 2.75
- Grade Unit
- %
- Intercept
- 23.1 m
Classification
- Sample Type
- drill
- Group ID
- DPGT004:23.1-23.1
QA/QC
- QP Signed
- Yes
Metal Equivalent
- Metal Eq. Grade
- 4.72
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-08-06T00:00:00.000Z
Reasoning: Discovery of a new high-grade zone east of Mars.
Positive factors
- Discovery of new high-grade zone
Evidence · text
“DPGT004 discovered a new high-grade zone 300 metres east of Mars, intersecting 23.10 metres at 4.72% CuEq (2.75% Cu, 2.08 g/t Au, 50.9 g/t Ag)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "The results obtained this season provide a strong foundation as we continue to move Lunahuasi forwards and will guide pl"
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.