Lumina Gold Announces First Corridor Zone Drill Results; Discovers High Grade Breccia and Massive Sulphide

Highlights:

Corridor Zone – Between Gran Bestia Deposit and Cangrejos Deposit

  • C19-117: 8 metres of 14.70 g/t gold and 0.02% copper and 8 metres of 4.70 g/t gold and 0.23% copper
  • C19-121: 4 metres of semi-massive sulphide material grading 5.98 g/t gold and 3.04% copper

Cangrejos Deposit

  • C19-122: 132 metres of 0.97 g/t gold and 0.08% copper from surface
  • C19-119: 90 metres of 0.73 g/t gold and 0.01% copper from surface

VANCOUVER, British Columbia, June 26, 2019 (GLOBE NEWSWIRE) — Lumina Gold Corp. (TSXV: LUM) (OTCQX: LMGDF) (the “Company” or “Lumina”) is pleased to announce additional drill results from the Cangrejos and Gran Bestia resource infill, step-out and depth extension program. These eight holes (C19-117 to C19-124) represent approximately 3,680 metres of drilling. The results include two holes from the Gran Bestia Deposit and four from the Cangrejos Deposit. In addition, two holes have now been drilled in the unexplored “Corridor” between Cangrejos and Gran Bestia to search for any continuity across the narrow zone separating the two deposits.

C19-117 and 121, the first holes to test for continuity between the deposits, both returned significant mineralization albeit of different styles. Hole 117 cut two high-grade 8-metre wide intercepts associated with strongly altered zones, grading 14.7 g/t gold and 4.7 g/t gold respectively. C19-121 cut extensive low-grade mineralization in the 0.3 to 0.5 g/t gold range over an aggregate 280 metres. C19-121 also cut at depth semi-massive chalcopyrite and pyrrhotite hosted in breccia grading 5.98 g/t gold and 3.04% copper over a 4-metre interval. These initial results suggest continuity may exist between the deposits. Exploration of the Corridor is continuing.

Two holes, C19-119 and C19-122 drilled from the same pad, but in opposite directions at Cangrejos both cut significant at-surface intervals of good grade in the north-central portion of the deposit. These holes merit follow-up exploration in the Corridor area to determine if this area could be suitable for mining in early years of a future mine plan.

Recently completed step-out holes drilled to the southwest at both deposits leave mineralization open in that direction. Holes C19-120 and 123 were collared from the same pad and drilled in opposite directions from the southwestern-most pad at Gran Bestia cut long intervals of mineralization. Holes from the southwestern-most pad at Cangrejos (C19-118 and 124, along with previously reported C19-114) also hit significant, long intervals of mineralization. Rock and soil gold geochemistry suggest mineralization could extend more than a kilometre to the southwest of current drilling on the Cangrejos deposit.

Drill Hole Location Map

https://www.globenewswire.com/NewsRoom/AttachmentNg/1b834bdf-6ba3-4a37-82ac-615825d63bab

Drill Intercept Summary

Hole Number Deposit From To Interval Au Grade Cu Grade Azimuth Dip Type
(m) (m) (m) (g/t) (%) (°) (°)
C19-117 Corridor 94 102 8 14.70 0.02 190 -60 Step-out
And   182 190 8 4.70 0.20      
And   300 320 20 0.33 0.16      
And   334 400 66 0.26 0.11      
C19-118 Cangrejos 100 174 74 0.47 0.05 150 -45 Step-out
And   188 306 118 0.36 0.04      
C19-119 Cangrejos 0 90 90 0.73 0.01 330 -61 Step-out
Incl   20 60 40 1.05 0.02      
And   106 180 74 0.66 0.09      
And   266 352 86 0.64 0.18      
Incl   298 344 46 0.80 0.25      
C19-120 Gran Bestia 44 70 26 0.24 0.07 330 -45 Step-out
And   82 102 20 0.30 0.12      
And   200 292 92 0.25 0.06      
And   304 320 16 0.37 0.10      
And   338 350 12 0.48 0.08      
And   430 468 38 0.28 0.01      
And   494 546 52 0.33 0.07      
C19-121 Corridor 24 42 18 0.27 0.04 240 -46 Step-out
And   66 84 18 0.38 0.09      
And   104 148 44 0.34 0.04      
And   196 236 40 0.31 0.04      
And   272 338 66 0.26 0.03      
And   378 422 44 0.76 0.34      
Incl   380 384 4 5.98 3.04      
And   444 454 10 0.49 0.05      
And   476 512 36 0.38 0.05      
C19-122 Cangrejos 0 132 132 0.98 0.08 150 -45 In-Fill
And   266 292 26 0.21 0.06      
And   334 500 166 0.36 0.1      
C19-123 Gran Bestia 8 24 16 0.32 0.07 150 -45 Step-out
And   38 52 14 0.25 0.07      
And   70 216 146 0.36 0.08      
And   242 284 42 0.26 0.08      
C19-124 Cangrejos 46 100 54 0.35 0.05 273 -45 Step-out
And   114 124 10 0.59 0.29      
And   136 378 242 0.30 0.06      

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 38 g/t Au. Above cut-off intervals of less than 10 m are typically not reported except for distinct intercepts or rare, massive sulphide. 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.

 

Comments are closed.

Free newsletter for stock pics, interview transcripts & investing ideas