Highlights include:
Hole C17-58
- 1.90 grams per tonne gold and 0.30% copper over 305 metres
- Including 3.69 grams per tonne gold and 0.54% copper over 126 metres
Hole C17-56
- 1.09 grams per tonne gold and 0.30% copper over 349 metres
Vancouver, British Columbia – Lumina Gold Corp. (TSXV: LUM) (the “Company” or “Lumina”) is pleased to announce initial results from the Cangrejos infill drill program. The first four holes summarized below, totaling 2,190 metres showed long intersections of mineralization with average grades above the current Inferred mineral resource gold and copper grades. Hole C17-58 yielded the highest grade intersections that have ever been drilled at Cangrejos. These drill holes have been successful in extending the mineralization, with holes C17-56 and C17-58 both ending in mineralization at down-hole depths of 634 metres and 591 metres respectively. The deposit remains open at depth and these results extend the mineralization approximately 200 to 300 metres below the resource limiting pit that formed the current mineral resource. Drilling is continuing at site, with 3,656 metres drilled in total since March 2017.
Summary Drill Results
| Hole Number | From (m) | To (m) | Interval (m) | Au Grade (g/t) | Cu Grade (%) |
|---|---|---|---|---|---|
| C17-56 | 285 | 634 | 349 | 1.09 | 0.30 |
| C17-57 | 258 | 442 | 184 | 1.05 | 0.19 |
| C17-58 | 286 | 591 | 305 | 1.90 | 0.30 |
| (including) | 292 | 418 | 126 | 3.69 | 0.54 |
| C17-59 | 68 | 318 | 250 | 0.78 | 0.20 |
In addition to the above results there were significant intercepts of lower grade material in all four 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 project. Drill core is sawn in half on site and half drill-core samples are securely transported to ALS’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.
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 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 134,573 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.
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. Often, but not always, forward-looking statements or information can be identified by phrases or statements that certain actions, events or results are “intended 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.
