Highlights include:
Hole C17-65 – 1.01 grams per tonne gold and 0.30% copper over 242 metres
Hole C17-69 – 1.61 grams per tonne gold and 0.20% copper over 132 metres
Hole C17-70 – 1.87 grams per tonne gold and 0.54% copper over 138 metres
VANCOUVER, British Columbia, Oct. 16, 2017 (GLOBE NEWSWIRE) -- Lumina Gold Corp. (TSX-V:LUM) (the “Company” or “Lumina”) is pleased to announce additional drill results from the Cangrejos infill and depth extension program. A new, central higher-grade zone has now been defined by holes C17-58, 69 and 70. Results from hole C17-58 were previously released on June 26, 2017 and included a 126 metre zone (from 292 to 418 metres) averaging 3.69 grams per tonne gold and 0.30% copper. Holes C17-65, 69 and 70 were step out holes drilled in proximity to hole C17-58 and demonstrated continuity of a deep higher-grade zone. In addition, holes C17-65, 66 and 67 intersected mineralization starting at surface. In total the six holes (table below) represent 2,771 metres of drilling.
The 7,186 metres drilled since March 2017, along with prior drilling, will form the basis of the updated mineral resource estimate expected in Q4 2017. The updated mineral resource estimate will be used as the basis for a Preliminary Economic Assessment (“PEA”) that is expected by Q2 2018. It is anticipated that the remainder of the drill program will be completed in the first half of 2018. In support of the PEA, a metallurgical testing program has been initiated by C.H. Plenge & CIA S.A. and a geotechnical characterization and stability review for PEA pit slope design has been initiated by Wyllie & Norrish Rock Engineers, Inc. In addition, Ausenco has completed a preliminary siting study for project plant site, tailings and waste rock storage facilities and access roads.
Summary Drill Results
| Hole Number | From (m) |
To (m) |
Interval (m) |
Au Grade (g/t) |
Cu Grade (%) |
Azimuth (°) |
Dip (°) |
| C17-65 | 10 | 252 | 242 | 1.01 | 0.30 | 330 | -66 |
| including | 144 | 198 | 54 | 2.24 | 0.50 | ||
| and | 362 | 446 | 84 | 1.18 | 0.32 | ||
| and | 458 | 530 | 72 | 0.64 | 0.13 | ||
| C17-66 | 8 | 296 | 288 | 0.57 | 0.17 | 330 | -81 |
| and | 318 | 338 | 20 | 0.33 | 0.06 | ||
| C17-67 and |
0 64 |
20 357 |
20 293 |
0.21 0.54 |
0.13 0.19 |
330 | -83 |
| C17-68 | 4 | 50 | 46 | 0.19 | 0.11 | 150 | -84 |
| C17-69 and including and |
98 292 308 474 |
138 424 382 606 |
40 132 74 132 |
0.51 1.61 2.33 0.45 |
0.05 0.20 0.27 0.09 |
150 | -80 |
| C17-70 | 92 | 568 | 476 | 0.95 | 0.32 | 330 | -78 |
| and | 212 | 350 | 138 | 1.87 | 0.54 |
Note: 0.2 g/t Au nominal cut-off grade with a maximum 10 metres of continuous internal sub cut-off grade material carried in any of the stated intervals. Sample lengths, apart from the final sample in a hole, are 2 metres. In addition to the above results there were significant intercepts of lower-grade material in the drill holes.
Quality Assurance
All Lumina sample assay results have been independently monitored through a quality control / quality assurance ("QA/QC") program including the insertion of blind standards, blanks and pulp and reject duplicate samples. Logging and sampling are completed at Lumina’s secure facility located at the Cangrejos project. Drill core is sawn in half on site and half drill-core samples are securely transported to ALS Limited’s (“ALS”) sample preparation facility in Quito, Ecuador. Sample pulps are sent to Lima, Peru for analysis. Gold content is determined by fire assay of a 30 gram charge with total copper content determined by four-acid digestion with ICP finish. ALS is independent of Lumina.
Qualified Persons
Leo Hathaway, P.Geo, Senior Vice President of Lumina and the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects for the Cangrejos project has reviewed, verified and approved the contents of this news release.
About Lumina Gold
Lumina Gold Corp. (TSX-V:LUM) is a Vancouver, Canada based precious and base metals exploration and development company focused on gold and copper projects in Ecuador. The Company’s Cangrejos Gold-Copper project is located in El Oro Province, southwest Ecuador, and its Condor Gold-Copper project is located in Zamora-Chinchipe Province, southeast Ecuador. The Company also holds a large and highly prospective land package in Ecuador consisting of 135 thousand hectares. The Company has an experienced management team with a successful track record of advancing and monetizing exploration projects. The Company intends to continue to identify, acquire and advance mineral exploration properties that have large scale potential.
