Announcement Date: 2022-03-14
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Luminex Resources Corp.
Project name: Condor
Location: Ecuador
Commodities: Gold,Silver
Highlight: Drilling results incl. 17.6m @ 2.91g/t Au, 15.23g/t Ag from 278.4m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Vancouver, British Columbia – Luminex Resources Corp. (TSXV: LR) (OTCQX: LUMIF) (the “Company” or “Luminex”) is pleased to announce that it has discovered high-grade gold and silver mineralization in an untested area immediately west of the Los Cuyes mineral resource. The drill hole targeted the down dip extension of a steeply dipping, structurally controlled mineralized zone. The hole was designed to intercept the structure approximately 160 metres below surface. The 17.6 metre zone started 278.4 metres down hole and had grades of 2.91 g/t gold and 15.23 g/t silver (3.09 g/t AuEq), with an internal zone of 8.6 metres grading 5.10 g/t gold and 24.85 g/t silver (5.39 g/t AuEq). Marshall Koval, CEO stated: “This is a meaningful discovery for the Condor North area. The higher-grade Camp underground deposit depletes by year 8 of the 12-year mine plan outlined in the 2021 PEA. The potential addition of a second higher grade underground deposit around Los Cuyes could maintain a higher rate of production and extend the overall mine life.”
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