07:38 AM EDT, 10/29/2025 (MT Newswires) -- NGEx Minerals ( NGXXF ) said Wednesday that it has commenced a phase-four drilling program at the Lunahuasi project in Argentina.

The new drill program started with six drill rigs currently turning and two more starting soon. The campaign is part of the company's targeted program which will consist of up to 25,000 meters of diamond drilling.

Initial assays are expected at the end of the fourth quarter.

"Drilling this season is designed to further test the four styles of mineralization identified to date, while also exploring for new high-grade zones and continuing to expand the boundaries of the deposit which remains open in all directions," president and chief executive officer Wojtek Wodzicki said.

The company said it is well funded to support the new drill program after recently completing a C$175 million private placement financing.

NGEx completed the phase-three program in the first half, yielding high-grade copper, gold, and silver intercepts.

NGEX's share price gained 2.2% on Tuesday to $22.93 on the Toronto Stock Exchange.