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Lumina Gold Announces Cangrejos Drill Results; Including 1.16 g/t Au and 0.09% Cu Over 156 Metres

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Lumina Gold Announces Cangrejos Drill Results; Including 1.16 g/t Au and 0.09% Cu Over 156 Metres






Lumina Gold Corp. (TSX-V: LUM) (OTC: LUMAF) is pleased to announce additional drill results from the Cangrejos infill, step-out and depth extension program. These nine holes (C18-81 to C18-89) represent 3,678 metres of drilling, bringing the 2018 total to 7,417 metres. The Company is continuing to drill at the property and is currently on hole number C18-91.



A second drill rig will arrive at site this month and it is expected that both drill rigs will begin testing targets on the C20 concession (“C20”) shortly thereafter. C20 has not been previously drilled by Lumina and represents substantial potential on the west side of the Cangrejos deposit.



Hole C18-81 was collared near the C20 boundary in the northcentral sector of the resource and angled back to the southeast to test known surficial mineralization in the area, and to intersect a northeastward projection of the deep mineralized zone. The hole was successful in both objectives hitting a significant surface zone of mineralization from 16 to 200 metres averaging 0.88 g/t gold and 0.07% copper, and an additional 92 metres (from 614 to 706 metres) grading 0.46 g/t gold and 0.11% copper. The upper interval of the hole included 58 metres (from 74 to 132 metres) of mineralization averaging 1.71 g/t gold and 0.15% copper.



C18-82, collared approximately 180 metres north-northeast of C18-81 (see map), was also drilled to the southeast to step-out on multiple zones of mineralization previously intersected in hole C18-73 (reported in NR:18-6 dated May 23, 2018). Similar to hole C18-73, hole C18-82 intersected several intervals of significant grade material throughout its length and included 156 metres averaging 1.16 g/t gold from 266 metres downhole.



Holes C18-83 and C18-84 were step-out holes drilled along the southern flank of the deposit near the C20 property boundary. C18-83 cut significant mineralization from surface to 170 metres averaging 0.67 g/t gold and 0.18% copper. Hole C18-84 was collared 100 metres further southeast from C18-83 and contained intervals below the expected cut-off grade.



Holes C18-85 (lost at shallow depth and re-drilled with 85A) and C18-86 were 100 metre step-out holes to the northeast, both angled to the northwest. Both holes hit significant mineralization leaving the deposit open in that direction. Additional drilling to the northeast is warranted.



Hole C18-87 angled to the northwest from the central portion of the deposit and hit multiple long intersections of mineralization. Hole C18-89, a 100 metre step-out to the mineralization intersected in C18-87 also intersected numerous mineralized intercepts, including 222 metres averaging 0.55 g/t gold and 0.08% copper from 188 to 410 metres, confirming the continuity of mineralization in this sparsely drilled area.


Summary Drill Results



From To Interval Au Grade Cu Grade Azimuth Dip Type
(m) (m) (m) (g/t) (%) (°) (°)
C18-81 16 200 184 0.88 0.07 150 -75 Infill
Including 74 132 58 1.71 0.15      
And 614 706 92 0.46 0.11      
C18-82 0 106 106 0.39 0.04 150 -63 Infill
And 130 162 32 0.75 0.04      
And 266 422 156 1.16 0.09      
Including 286 330 44 1.82 0.13      
Including 372 400 28 2.00 0.14      
And 488 576 88 0.63 0.03      
C18-83 0 170 170 0.67 0.18 150 -53 Step-out
C18-85A 34 70 36 0.43 0.17 330 -46 Step-out
And 102 132 30 0.26 0.11      
C18-86 72 106 34 0.36 0.18 330 -59 Step-out
And 192 232 40 0.87 0.14      
C18-87 34 102 68 0.55 0.10 330 -70 Infill
And 146 192 46 0.86 0.08      
And 246 314 68 0.52 0.06      
And 328 360 32 0.45 0.05      
C18-89 60 80 20 0.31 0.08 330 -70 Infill
And 92 176 84 0.26 0.03      
And 188 410 222 0.55 0.08      



Note: Intervals in the reported holes are calculated using a cut-off of 0.2 g/t Au with maximum internal dilution of ten continuous metres. The highest gold value used in the reported weighted averages is 14.7 g/t Au. Above cut-off intervals of less than 20m are not reported. In addition to the above results there were multiple 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 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 Lab’s 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 Labs is independent from Lumina.



Lumina is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to herein.



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. is a Vancouver, Canada based precious and base metals exploration and development company focused on the Cangrejos Gold-Copper project located in El Oro Province, southwest Ecuador. Lumina has an experienced management team with a successful track record of advancing and monetizing exploration projects.


Posted September 12, 2018

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