| Announcement Date: | 2022-07-11 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | NI43-101 |
| Company name: | Luminex Resources Corp. |
| Project name: | Tarqui |
| Location: | Ecuador |
| Commodities: | Gold,Silver,Copper,Molybdenum |
| Highlight: | Drilling results incl. 218m @ 0.29% Cu, 0.03g/t Au, 0.7g/t Ag, 5.97ppm Mo from 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”) would like to provide an update on its Tarqui project, where BHP Group Limited (“BHP”) has completed its Phase 2 drill program that commenced in late 2021, pursuant to a July 2019 earn-in and joint venture agreement. BHP completed the current drill program in June 2022 and has received assays from seven of ten holes. Drilling at the project has now totaled 6,862 metres, over thirteen drill holes between the Phase 1 and Phase 2 programs. BHP has formally notified Luminex that it will not be continuing with the earn-in at Tarqui and will begin the process of transitioning the operatorship back to Luminex, with expected completion in Q4 2022. Luminex will review all of the project data and work completed to date and evaluate next steps for the Tarqui project. Prior to drilling, BHP conducted surface geological mapping and rock chip and soil sampling comprised of 1,015 samples and 2,815 samples respectively. Additionally, the company contracted Geotech to conduct a helicopter borne survey with a VTEM (Versatile Time Domain Electromagnetic) system comprising 349 line kilometres over the property. |
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