Announcement Date: 2022-05-09
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Lumina Gold Corp.
Project name: Cangrejos
Location: Ecuador
Commodities: Gold,Copper
Highlight: Drilling results incl. 28m @ 7.18g/t Au, 0.09% Cu from 148m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Vancouver, British Columbia – Lumina Gold Corp. (TSXV: LUM) (OTCQX: LMGDF) (the “Company” or “Lumina”) is pleased to announce results from fifteen drill holes at its Cangrejos project (the “Project”) in Ecuador. Six of the reported drill holes are from Cangrejos and nine are from Gran Bestia (see Table 1). To date, 66 drill holes have been completed and four are in progress, totalling 22,450m of drilling. Lumina currently has eight rigs operating, seven working on resource holes, and one dedicated to geotechnical drilling in support of the Pre-Feasibility Study. At the northern limit of the Cangrejos deposit, hole C22-179 returned the highest grade intercept drilled in the history of the Project: 10 metres from 148 metres down the hole grading 19.33 g/t gold with 0.12% copper for a gold equivalent of 19.51 g/t. High grade veins such as this are typically found in the periphery of large gold-copper porphyry deposits and additional intercepts are likely to be found as the current program delineates these areas. This intercept on its own does not provide enough data to calculate a true thickness. Modelling work is underway to ensure that the gold content in these areas is reflected in resource estimation. Located in the same area, holes C22-171, C22-172 and C22-178 contained mineralization consistent with the delineation of the northern margin of the deposit and similar mineralization was intercepted by holes C22-174 and C22-180, that were drilled to delineate the southern margin.
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