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Lumina Gold Announces Drill Results; Including 302 Metres of 1.22 g/t Gold and 0.14% Copper

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Lumina Gold Announces Drill Results; Including 302 Metres of 1.22 g/t Gold and 0.14% Copper

 

 

 

 

 

Lumina Gold Corp. (TSX-V: LUM) (OTCQX: LMGDF) is pleased to announce additional drill results from the Cangrejos and Gran Bestia resource in-fill, step-out and exploration program. These fifteen holes (C19-125 to 139) represent approximately 6,430 metres of drilling. The results include six holes from the Gran Bestia Deposit, four from the Cangrejos Deposit and five from the Corridor Zone.

 

Drilling of the main Cangrejos Deposit has concluded since Lumina’s last news release with two in-fill holes (C19-127 and 129) and three step-out holes (C19-134, 138, and 140). The step-out holes tested the depth extension of an area of high-grade rock chip and trench samples in the northwestern sector previously mentioned in the news release dated June 26, 2019. Results from two of the three step-out holes are reported here, while assays from the third remain pending. Hole C19-134 cut a long interval at the average resource grade, while C19-138 hit an exceptional zone from surface of 302 metres grading 1.22 g/t gold and 0.14% copper.

 

Although Lumina has finished the current in-fill program across both deposits for the resource update, it has elected to keep two of the four rigs at site to drill the northern ridgeline area of Gran Bestia. The ridgeline is still open to the northwest, where step out holes are targeting the longest intercepts drilled to date. Once this zone has been approximately delineated by drilling, the program will be paused and the Company will complete an updated resource estimate incorporating the last two years’ worth of drilling. Lumina expects the revised estimate to be completed by November 2019.

 

Gran Bestia in-fill holes C19-128, 131, 133 and 139 all cut long intervals of moderate-grade mineralization from surface. The margins of the Gran Bestia Deposit may have been reached to the south with hole C19-125 and east with hole C19-135. Although mineralization continues to the east, it begins to narrow and drops in grade.

 

Drilling in the Corridor Zone has concluded. Of note, resource in-fill hole C19-129, collared on the northwestern flank of the Cangrejos Deposit, was extended well beyond the assumed limits of the main resource. While the hole hit mineralization of good grade related to the Cangrejos Deposit higher in the hole, at depth it also cut 104 metres averaging 0.58 g/t gold and 0.15% copper likely forming part of the Corridor Zone. Numerous other drill holes also cut mineralization in the Corridor Zone, holes C19-126, 130, 132, 136, and 137. Modelling of the mineralization controls within the Corridor Zone is ongoing.

 

Drill Hole Location Map

 

https://www.globenewswire.com/NewsRoom/AttachmentNg/426cea82-8fea-4c77-b90b-35f3a41f52a1

 

Drill Intercept Summary

 

 

Hole Number Deposit From To Interval Au Grade Cu Grade Azimuth Dip Type
(m) (m) (m) (g/t) (%) (°) (°)
C19-125 Gran Bestia 0 136 136 0.32 0.05 150 -60 Step-out
And   150 284 134 0.34 0.03      
And   330 408 78 0.50 0.04      
C19-126 Corridor 8 26 18 0.22 0.04 150 -60 Expl.
And   148 228 80 0.39 0.04      
And   248 276 28 0.24 0.02      
And   396 414 18 0.27 0.08      
C19-127 Cangrejos 74 96 22 0.20 0.09 330 -60 In-fill
And   184 268 84 0.32 0.13      
C19-128 Gran Bestia 26 38 12 0.63 0.03 330 -45 Step-out
And   170 222 52 0.21 0.03      
And   236 384 148 0.44 0.10      
And   406 450 44 0.69 0.10      
And   494 504 10 0.36 0.04      
And   576 602 26 0.20 0.04      
And   614 628 14 0.43 0.04      
C19-129 Cangrejos 0 106 106 0.78 0.31 300 -45 In-fill
Incl   40 66 26 2.06 0.77      
And   128 172 44 0.33 0.12      
And   262 274 12 0.22 0.02      
And   458 562 104 0.58 0.15      
C19-130 Corridor 88 106 18 1.08 0.05 210 -60 Expl.
And   196 226 30 0.21 0.04      
C19-131 Gran Bestia 0 220 220 0.42 0.07 150 -60 In-fill
And   240 254 14 0.29 0.03      
And   266 304 38 0.27 0.03      
And   378 436 58 0.37 0.03      
C19-132 Corridor 0 24 24 0.27 0.05 330 -60 Expl.
And   52 68 16 0.23 0.06      
And   118 132 14 0.21 0.05      
And   198 218 20 0.43 0.08      
C19-133 Gran Bestia 0 184 184 0.46 0.11 150 -90 In-fill
And   198 272 74 0.31 0.09      
And   284 442 158 0.27 0.09      
C19-134 Cangrejos 0 10 10 0.21 0.04 210 -60 Step-out
And   28 203 175 0.65 0.08      
Incl   110 132 22 1.20 0.17      
C19-135 Gran Bestia 50 62 12 0.32 0.21 30 -45 Step-out
And   106 132 26 0.37 0.05      
And   194 208 14 0.50 0.07      
And   250 268 18 0.21 0.02      
C19-136 Corridor 8 20 12 0.31 0.06 110 -60 Expl.
And   32 58 26 0.34 0.06      
And   68 92 24 0.21 0.04      
And   106 170 64 0.25 0.07      
And   306 328 22 0.28 0.01      
C19-137 Corridor 0 10 10 0.32 0.04 330 -60 Expl.
And   26 36 10 0.48 0.05      
And   64 112 48 0.48 0.03      
And   182 202 20 0.29 0.18      
C19-138 Cangrejos 0 302 302 1.22 0.14 150 -60 Step-out
Incl   202 290 88 2.43 0.31      
C19-139 Gran Bestia 0 88 88 0.62 0.09 150 -60 In-Fill
And   102 146 44 0.43 0.09      
And   178 240 62 0.26 0.08      
And   280 302 22 0.46 0.11      

 

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. Sampling is done in consistent, continuous 2-metre intervals. The highest gold value used in the reported weighted averages is 8.43 g/t Au. 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 August 12, 2019

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