# NGEx Welcomes Lundin Mining as New Partner at Los Helados Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/ngex-welcomes-lundin-mining-as-new-partner-at-los-helados--07c17097-ceca-4f50-b3aa-32df653d4b9e Original source: https://money.tmx.com/en/quote/NGEX/news/7075570687589036/ngex-welcomes-lundin-mining-as-new-partner-at-los-helados Publisher: tmx Original announcement: 2026-03-11T10:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: NGEx Minerals Ltd. - Ticker: NGEX - Exchange: TSX - Region: Chile - Primary commodity: Copper - Secondary commodities: Gold, Silver - Document categories: Resource update, Agreement transaction - Extracted: 2026-09-14 15:03:33 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary NGEx Minerals has welcomed Lundin Mining as a new minority partner at the Los Helados Project in Chile following a transaction with JX Advanced Metals. The project is a large-scale copper-gold-silver resource with significant potential synergies due to its proximity to the operating Caserones mine. Reasoning: The announcement of a new strategic partner \(Lundin Mining\) for a large-scale, advanced-stage copper project with significant infrastructure synergies is highly material and positive. - Positive factor: Strategic partnership with Lundin Mining - Positive factor: Proximity to Caserones operating infrastructure - Positive factor: Large-scale copper-gold-silver resource - Positive factor: High-quality precious metal-rich copper concentrate indicated by metallurgy Facts used in scoring: 9 ## Classification and evidence **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The Mineral Resource estimate was reviewed and approved by a Qualified Person as defined by NI 43-101. Evidence · text > reviewed and approved by Bob Carmichael, B.A.Sc., P.Eng. who is the Qualified Person as defined by NI 43-101 **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The cut-off grade for the Mineral Resource estimate is explicitly stated as 0.33% CuEq. Evidence · text > Mineral Resources are estimated at a cut-off grade of 0.33 g/t CuEq **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Bob Carmichael is named as the Qualified Person responsible for the technical disclosure. Evidence · text > reviewed and approved by Bob Carmichael, B.A.Sc., P.Eng. who is the Qualified Person ## Extracted facts Stored fact records: 9. Some facts used in scoring do not have a stored record. ## Resource Estimates (9) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/ngex-welcomes-lundin-mining-as-new-partner-at-los-helados--07c17097-ceca-4f50-b3aa-32df653d4b9e#fact-resource-facts-0) Los Helados · copper #### Identity - Project: Los Helados - Commodity: copper - Region: chile - Reported Region: Chile - Ticker: NGEX #### Resource scope - Estimate type: resource - Effective date: 2025-07-29T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Bob Carmichael - Resource group id: resource:f5f4254fb152c16530a9 - Deposit or zone: Los Helados - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 2080000000 - Grade: 18.4 - Grade Unit: billion lbs - Cutoff Grade: 0.33 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-07-29 #### Metal Equivalent - Metal Eq. Grade: 0.51 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-11T00:00:00.000Z Reasoning: Indicated copper grade of 0.4% in a large 2.08Bt resource. - Positive factor: Large tonnage Evidence · table > 18.4 Context: 2.08 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/ngex-welcomes-lundin-mining-as-new-partner-at-los-helados--07c17097-ceca-4f50-b3aa-32df653d4b9e#fact-resource-facts-1) Los Helados · gold #### Identity - Project: Los Helados - Commodity: gold - Region: chile - Reported Region: Chile - Ticker: NGEX #### Resource scope - Estimate type: resource - Effective date: 2025-07-29T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Bob Carmichael - Resource group id: resource:f5f4254fb152c16530a9 - Deposit or zone: Los Helados - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 2080000000 - Grade: 10.2 - Grade Unit: million oz - Cutoff Grade: 0.33 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-07-29 #### Metal Equivalent - Metal Eq. Grade: 0.51 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-11T00:00:00.000Z Reasoning: Indicated gold grade of 0.15 g/t. Evidence · table > 10.2 Context: 2.08 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/ngex-welcomes-lundin-mining-as-new-partner-at-los-helados--07c17097-ceca-4f50-b3aa-32df653d4b9e#fact-resource-facts-2) Los Helados · silver #### Identity - Project: Los Helados - Commodity: silver - Region: chile - Reported Region: Chile - Ticker: NGEX #### Resource scope - Estimate type: resource - Effective date: 2025-07-29T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Bob Carmichael - Resource group id: resource:f5f4254fb152c16530a9 - Deposit or zone: Los Helados - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 2080000000 - Grade: 97.5 - Grade Unit: million oz - Cutoff Grade: 0.33 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-07-29 #### Metal Equivalent - Metal Eq. Grade: 0.51 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-11T00:00:00.000Z Reasoning: Indicated silver grade of 1.5 g/t. Evidence · table > 97.5 Context: 2.08 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/ngex-welcomes-lundin-mining-as-new-partner-at-los-helados--07c17097-ceca-4f50-b3aa-32df653d4b9e#fact-resource-facts-3) Los Helados · copper #### Identity - Project: Los Helados - Commodity: copper - Region: chile - Reported Region: Chile - Ticker: NGEX #### Resource scope - Estimate type: resource - Effective date: 2025-07-29T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Bob Carmichael - Resource group id: resource:3d2b916942a9549a96cb - Deposit or zone: Los Helados - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 1080000000 - Grade: 8.2 - Grade Unit: billion lbs - Cutoff Grade: 0.33 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-07-29 #### Metal Equivalent - Metal Eq. Grade: 0.42 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-11T00:00:00.000Z Reasoning: Inferred copper grade of 0.34%. Evidence · table > 8.2 Context: 1.08 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/ngex-welcomes-lundin-mining-as-new-partner-at-los-helados--07c17097-ceca-4f50-b3aa-32df653d4b9e#fact-resource-facts-4) Los Helados · gold #### Identity - Project: Los Helados - Commodity: gold - Region: chile - Reported Region: Chile - Ticker: NGEX #### Resource scope - Estimate type: resource - Effective date: 2025-07-29T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Bob Carmichael - Resource group id: resource:3d2b916942a9549a96cb - Deposit or zone: Los Helados - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 1080000000 - Grade: 3.6 - Grade Unit: million oz - Cutoff Grade: 0.33 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-07-29 #### Metal Equivalent - Metal Eq. Grade: 0.42 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-11T00:00:00.000Z Reasoning: Inferred gold grade of 0.1 g/t. Evidence · table > 3.6 Context: 1.08 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/ngex-welcomes-lundin-mining-as-new-partner-at-los-helados--07c17097-ceca-4f50-b3aa-32df653d4b9e#fact-resource-facts-5) Los Helados · silver #### Identity - Project: Los Helados - Commodity: silver - Region: chile - Reported Region: Chile - Ticker: NGEX #### Resource scope - Estimate type: resource - Effective date: 2025-07-29T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Bob Carmichael - Resource group id: resource:3d2b916942a9549a96cb - Deposit or zone: Los Helados - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 1080000000 - Grade: 50.2 - Grade Unit: million oz - Cutoff Grade: 0.33 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-07-29 #### Metal Equivalent - Metal Eq. Grade: 0.42 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-11T00:00:00.000Z Reasoning: Inferred silver grade of 1.4 g/t. Evidence · table > 50.2 Context: 1.08 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/ngex-welcomes-lundin-mining-as-new-partner-at-los-helados--07c17097-ceca-4f50-b3aa-32df653d4b9e#fact-resource-facts-6) Los Helados · copper #### Identity - Project: Los Helados - Commodity: copper - Region: chile - Reported Region: Chile - Ticker: NGEX #### Resource scope - Estimate type: resource - Effective date: 2025-07-29T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Bob Carmichael - Resource group id: resource:2d9e55e1a01b3e40d360 - Deposit or zone: Los Helados - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 510000000 - Grade: 6.3 - Grade Unit: billion lbs - Cutoff Grade: 0.33 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-07-29 #### Metal Equivalent - Metal Eq. Grade: 0.72 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-11T00:00:00.000Z Reasoning: Indicated copper grade of 0.4% in a large 2.08Bt resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Large tonnage Evidence · table > 6.3 Context: 0.51 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/ngex-welcomes-lundin-mining-as-new-partner-at-los-helados--07c17097-ceca-4f50-b3aa-32df653d4b9e#fact-resource-facts-7) Los Helados · gold #### Identity - Project: Los Helados - Commodity: gold - Region: chile - Reported Region: Chile - Ticker: NGEX #### Resource scope - Estimate type: resource - Effective date: 2025-07-29T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Bob Carmichael - Resource group id: resource:2d9e55e1a01b3e40d360 - Deposit or zone: Los Helados - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 510000000 - Grade: 3.5 - Grade Unit: million oz - Cutoff Grade: 0.33 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-07-29 #### Metal Equivalent - Metal Eq. Grade: 0.72 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-11T00:00:00.000Z Reasoning: Indicated copper grade of 0.4% in a large 2.08Bt resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Large tonnage Evidence · table > 3.5 Context: 0.51 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/ngex-welcomes-lundin-mining-as-new-partner-at-los-helados--07c17097-ceca-4f50-b3aa-32df653d4b9e#fact-resource-facts-8) Los Helados · silver #### Identity - Project: Los Helados - Commodity: silver - Region: chile - Reported Region: Chile - Ticker: NGEX #### Resource scope - Estimate type: resource - Effective date: 2025-07-29T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Bob Carmichael - Resource group id: resource:2d9e55e1a01b3e40d360 - Deposit or zone: Los Helados - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 510000000 - Grade: 30.2 - Grade Unit: million oz - Cutoff Grade: 0.33 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-07-29 #### Metal Equivalent - Metal Eq. Grade: 0.72 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-11T00:00:00.000Z Reasoning: Indicated copper grade of 0.4% in a large 2.08Bt resource. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Large tonnage Evidence · table > 30.2 Context: 0.51 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ## 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.