Highlights include:
Hole C18-82 – 1.16 grams per tonne gold and 0.09% copper over 156 metres
Hole C18-81 – 0.88 grams per tonne gold and 0.07% copper over 184 metres
Hole C18-83 – 0.67 grams per tonne gold and 0.18% copper over 170 metres
Hole C18-89 – 0.55 grams per tonne gold and 0.08% copper over 222 metres
Vancouver, British Columbia – Lumina Gold Corp. (TSXV: LUM) (OTC: LUMAF) (the “Company” or “Lumina”) 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.
Drill Hole Location Map
Summary Drill Results
| Hole Number | 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 (“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 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. (TSXV: LUM) 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.
Further details are available on the Company’s website at https://luminagold.com/.
| LUMINA GOLD CORP. | |
| For further information contact: | |
| Signed: “Marshall Koval” | Scott Hicks |
| shicks@luminagold.com | |
| Marshall Koval, President & CEO, Director | T: +1 604 646 1890 |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to the arrival of a second drill rig at site this month and that both drill rigs will begin testing targets on C20 shortly thereafter. Often, but not always, forward-looking statements or information can be identified by the use of words such as “will” or variations of that word and phrases or statements that certain actions, events or results “will” or are “expected to” be taken, occur or be achieved.
With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the prices of gold and copper, and anticipated costs and expenditures. The foregoing list of assumptions is not exhaustive.
Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time in the Company’s continuous disclosure documents filed with Canadian securities administrators. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
