Gran Bestia drilling highlights include:
Lumina Gold Corp. (TSX-V: LUM) (OTCQX: LMGDF) is pleased to announce the remaining results from the 2021-2022 drilling campaign in support of the ongoing Prefeasibility Study at its Cangrejos Project in Ecuador. Results from the final seventeen drill holes, fifteen from Gran Bestia and two from Cangrejos are provided in Table 1. Holes with a “G” designation are combined geotechnical and mineral resource drill holes.
Marshall Koval, President and CEO commented: “Receiving the final assays from Lumina’s 36,000 metre PFS drill campaign allows resource estimation work to commence, which is a critical path item for completion of the PFS. The drill results continue to demonstrate the exceptional continuity of grade at Cangrejos and Gran Bestia and are in line with expectations from previous drilling. The newly drilled step-out areas are expected to add to existing Inferred and Indicated resources and the inclusion of the northwest ridge extension at Gran Bestia may lower the stripping ratio at the mine planning stage of the PFS study.”
Cangrejos Drill-Hole Results
Results from C22-G7 and C22-G8 at Cangrejos located in the central and northern central area of the Cangrejos deposit are typical of this area, with hole C22-G7 returning 118 metres from surface grading 0.64 g/t gold and 0.12% copper, for a gold equivalent grade of 0.83 g/t.
Gran Bestia Drill-Hole Results
Hole C22-239 was drilled to extend the Gran Bestia deposit to the northwest and returned a 454 metre interval from surface grading 0.64 g/t gold and 0.10% copper, for a gold equivalent grade of 0.79 g/t, leaving the deposit open in this direction, to the north and to depth, as well as extending mineralization beyond the 2020 Preliminary Economic Assessment (“PEA”) pit boundary. Hole C22-G10 was drilled vertically from the center of the Gran Bestia deposit and returned a 450-metre interval from surface grading 0.64 g/t gold and 0.12% copper, for a gold equivalent grade of 0.83 g/t, including a 118-metre interval from 10 metres down hole of 1.28 g/t gold and 0.21% copper, for a gold equivalent grade of 1.59 g/t.
Nine of the remaining fifteen holes were collared on Gran Bestia Ridge to extend mineralization to the west, northwest, north and northeast. Hole C22-235, at the northern part of the ridge intersected 282m grading 0.73 g/t gold and 0.11% copper, for a gold equivalent grade of 0.91 g/t from 156 metres. Hole C22-233 in the central part of the ridge intersected 428m grading 0.41 g/t gold and 0.07% copper for a gold equivalent of 0.51 g/t from 58 metres down hole.
Table 1: Drill Results
|Hole||Deposit /||From||To||Interval||Au||Cu||Au Eq||Total Depth|
|Azimuth / Dip (°)||(m)||(m)||(m)||(g/t)||( %)||(g/t)||(m)|
|And||330 °/ -70 °||50||450||400||0.43||0.09||0.57|
|And||150 °/ -76 °||48||486||428||0.41||0.07||0.51|
|And||0 °/ -90 °||306||320||14||0.35||0.06||0.45|
|And||330 °/ -70 °||46||56||10||0.22||0.06||0.32|
|And||270 °/ -70 °||50||442||392||0.36||0.08||0.48|
|And||45 °/ -70 °||116||160||44||0.39||0.07||0.51|
|And||0 °/ -90 °||36||308||272||0.59||0.08||0.73|
|And||(to end of hole)||450||476.3||26.25||0.34||0.08||0.45|
|C22-239||Gran Bestia||0||453.7 (TD)||453.70||0.64||0.10||0.80||453.7|
|And||0 °/ -45 ° (incl)||50||100||50||1.04||0.15||1.27|
|And||0 °/ -70 °||54||86||32||0.30||0.03||0.37|
|Incl||330 °/ -40 °||30||56||26||1.09||0.09||1.23|
|And||348 °/ -80 °||130||162||32||0.25||0.07||0.36|
|And||0 °/ -90 °||26||50||24||0.32||0.04||0.39|
|And||(to end of hole)||646||676||30||0.43||0.03||0.48|
|And||0 °/ -90 °||290||304||14||0.24||0.04||0.31|
|Incl||0 °/ -90 °||10||128||118||1.28||0.21||1.59|
|And||0 °/ -60 °||308||330||22||0.20||0.05||0.28|
|And||270 °/ -70 °||56||146||90||0.28||0.07||0.38|
|And||0 °/ -55 °||170||232||62||0.32||0.06||0.43|
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 23.2 g/t Au. In addition to the above results there were multiple intercepts of lower-grade material in the drill holes. Equivalent values assume 100% recovery of all quoted metals and the following prices were used: a gold price of US$1,500 per ounce, a copper price of US$3.00 per pound, a molybdenum price of US$7.00 per pound and a silver price of US$18.00 per ounce.
All Lumina sample assay results have been independently monitored through a quality control / quality assurance program that includes 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 Labs’ sample preparation facilities in Quito, Ecuador. Sample pulps are sent to ALS’ chemical labs in 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. The lab 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.
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 and has verified the data underlying 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. Cangrejos is being advanced to a Pre-Feasibility Study and is the largest primary gold deposit in Ecuador. Lumina has an experienced management team with a succesful track record of advancing and monetizing exploration projects.
Silver Viper Minerals Corp. (TSX-V: VIPR) (OTC: VIPRF) is plea... READ MORE
G2 Goldfields Inc. (TSX-V: GTWO) (OTCQX: GUYGF) is pleased to ann... READ MORE
Collective Metals Inc. (CSE: COMT) is pleased to announce that th... READ MORE
Laramide Resources Ltd. (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is p... READ MORE
Marathon Gold Corporation (TSX: MOZ) announces its financial resu... READ MORE
We acknowledge the [financial] support of the Government of Canada.