Lumina Intersects 318 Meters Grading 0.95% Copper Equivalent at Taca Taca Copper-Gold-Molybdenum Project, Argentina
07 April 2011 - 10:30PM
Marketwired
Lumina Copper Corp. (TSX VENTURE: LCC) (the "Company") is pleased
to announce the results of four additional holes drilled as part of
the ongoing drilling program at its 100% owned Taca Taca
copper/gold/molybdenum deposit located in Salta province,
Argentina. The results are highlighted by hole TTBJ10-04 that
intersected 318 meters grading 0.66% copper, 0.19g/t gold and 0.03%
molybdenum (0.95% copper equivalent(1)).
TTBJ10-04 was drilled from the same location as TTBJ10-01 but in
a northeasterly direction, increasing the extent of known higher
grade mineralization by 225 meters to the north. TTBJ10-05 was
drilled 500 meters to the west of holes TTBJ10-01 and TTBJ10-04.
TTBJ10-06 was drilled approximately 200 meters to the northwest of
TTBJ10-05 and may define the boundary of mineralization in this
direction. TTBJ10-07 was drilled approximately 200 meters to the
southeast of TTBJ10-01 and the drill result suggests that
mineralization may be thinning in this direction.
Details of the relevant intercepts from the latest four holes
are shown in the table below. A map showing the location of the new
results in relation to historical drilling is attached to this news
release:
----------------------------------------------------------------------------
Hole No. From To Interval Cu Au Mo CuEq(1)
Meters Meters meters % g/t % %
----------------------------------------------------------------------------
TTBJ10-04 300 618 318 0.66 0.19 0.030 0.95
----------------------------------------------------------------------------
including 524 550 26 1.00 0.17 0.062 1.47
----------------------------------------------------------------------------
----------------------------------------------------------------------------
TTBJ10-05 236 449 213 0.45 0.16 0.017 0.65
----------------------------------------------------------------------------
including 330 386 56 0.59 0.19 0.015 0.79
----------------------------------------------------------------------------
----------------------------------------------------------------------------
no significant
TTBJ10-06 intercepts
----------------------------------------------------------------------------
TTBJ10-07 318 380 62 0.30 0.07 0.022 0.48
----------------------------------------------------------------------------
(1) Copper equivalent calculated using US$2.00/lb Cu, US$800/oz Au and
US$12.00/lb Mo and is not adjusted for metallurgical recoveries as these
remain uncertain. The formula used is as follows: CuEQ = Cu% + (Au g/t x
0.583) + (Mo% x 6).
The drill program is focused on defining a higher grade zone
within the known NI 43-101 compliant mineral resource estimate as
well as expanding known mineralization to the north. To date 13
holes totalling 5,662 meters have been completed and two drill rigs
are operating on the project with two additional drill rigs
expected to be arriving over the next four to six weeks.
The Company is pleased to announce that Mr. Andrew Carstensen
has been appointed Vice President, Exploration and will supervise
all Taca Taca exploration activities.
The Taca Taca copper/gold/molybdenum project, comprising
approximately 2,500 hectares, is located in the Puna region of
north western Argentina in Salta Province, approximately 230
kilometres west of the provincial capital of Salta and 90
kilometres east of the world's largest copper mine, Escondida.
On October 9, 2008, the Company announced it had received an
independent National Instrument 43-101 ("NI 43-101") compliant
mineral resource estimate for the project that at a 0.4% copper
equivalent cutoff contained inferred mineral resources of 841
million tonnes grading 0.64% copper equivalent, containing 8.71
billion pounds of copper, 2.97 million ounces of gold and 333.70
million pounds of molybdenum(3). This mineral resource estimate
does not incorporate or reflect the drilling results described
above.
Additional information on Taca Taca, including the NI 43-101
technical report "Amended Taca Taca Technical Report" dated January
22, 2010 by Robert Sim, P.Geo., can be found on the Company's
website (www.luminacopper.com) and on SEDAR (www.sedar.com).
Andrew Carstensen, CPG, Vice President, Exploration and the
Qualified Person as defined by NI 43-101 for the Taca Taca project
has reviewed and approved the content of this press release.
(3) The copper equivalent cut off grade used in the calculation of the
mineral resource estimate was determined using US$1.50 / lb copper, US$600 /
oz gold and US$6.00 / lb molybdenum and was not adjusted for metallurgical
recoveries as these remain uncertain. The formula used in the calculation
was as follows: CuEQ = Cu% + (Au g/t x 0.583) + (Mo% x 6).
LUMINA COPPER CORP
David Strang, President & CEO
CAUTION REGARDING FORWARD LOOKING STATEMENTS: This news release
contains "forward-looking statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and
applicable Canadian securities legislation. Forward-looking
statements include, but are not limited to, statements with respect
to the future price of gold, copper and molybdenum, the timing of
exploration activities, the estimation of mineral reserves and
mineral resources, the results of drilling, estimated future
capital and operating costs, future stripping ratios, projected
mineral recovery rates and Lumina Copper's commitment to, and plans
for developing any of its projects. Generally, these
forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "can", "could", "would",
"might" or "will be taken", "occur" or "be achieved".
Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of Lumina Copper to
be materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks
related to the exploration and potential development of the
Company's projects, risks related to international operations, the
actual results of current exploration activities, conclusions of
economic evaluations, changes in project parameters as plans
continue to be refined, future prices of gold, copper and
molybdenum, as well as those factors discussed in the sections
relating to risk factors of our business filed in Lumina Copper's
required securities filings on SEDAR. Although Lumina Copper has
attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results to be materially different from those anticipated,
described, estimated, assessed or intended.
There can be no assurance that any forward-looking statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements. Lumina Copper does not undertake to
update any forward-looking statements that are incorporated by
reference herein, except in accordance with applicable securities
laws.
To view "Figure 1", please visit the following link:
http://media3.marketwire.com/docs/llc_fig1.pdf
Contacts: Lumina Copper Corp. David Strang President & CEO +
604 646 1880 + 604 687 7041 (FAX) dstrang@luminacopper.com
www.luminacopper.com
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