11:52 AM EDT, 09/26/2024 (MT Newswires) -- NGEx Minerals ( NGXXF ) said Tuesday it plans to drill up to 20,000 meters for the phase-three exploration campaign at the Lunahuasi copper-gold-silver project in Argentina.

Drilling is expected to start in October and the program will be the largest to date at the project, according to NGEx.

The company said the campaign aims to grow the deposit through step-out drilling and to provide enough closer spaced data to develop an initial exploration target as a step toward an eventual resource estimate.

"The upcoming drill program is focused on growing the Lunahuasi deposit, which remains open in all directions, and continuing to advance our understanding of this unusually high-grade deposit," President and CEO Wojtek Wodzicki said.

NGEx shares were last seen up $0.73 to $11.78 on the Toronto Stock Exchange.

Price: 11.78, Change: +0.73, Percent Change: +6.61