| Announcement Date: | 2022-12-05 |
|---|---|
| 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. 210m at 0.41g/t Au, 2.60g/t Ag, from 2m |
| 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 drill results from four holes at the Cuyes West structure and from three holes at the Ruiz structure. At Cuyes West, the current drilling has confirmed the strike length of the structure is in excess of 300 metres, and it has been mapped at surface for more than 500 metres. The drill intersection in hole CU22-12, the deepest so far, indicates that it has a vertical extent of at least 250 metres. The western edge of the Cuyes West structure is approximately 300 metres from the Camp deposit. Marshall Koval, CEO and Director commented: “We are extremely pleased with the results coming in from our step-out drilling at Cuyes West. The mineralized structure is taking shape after the positive results from the first nine holes. The six additional pending holes, including the visual core logging on hole CU22-12 has the geological team optimistic about future success at Cuyes West. Outside of Cuyes West, we also have five holes pending at Camp. The team has planned a 2023 drill program to continue expanding Cuyes West and Camp. Given that the 2021 PEA did not include the Cuyes West discovery, the team looks forward to seeing its impact.” Hole CU22-06 intersected 7.0 metres from 225 metres down hole grading 11.88 g/t gold and 25.4 g/t silver (12.18 g/t Au Eq). This hole stepped out approximately 60 metres below hole CU22-01, which intersected 8.6 metres grading 5.10 g/t gold and 24.85 g/t silver (5.39 g/t Au Eq) within a wider interval of 17.6 metres grading 2.91 g/t gold and 15.23 g/t silver (3.09 g/t Au Eq). Combined with hole CU22-01, these holes may indicate the emergence of a high-grade vertical zone or “shoot |
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