Lumina Copper Corp. (TSX VENTURE: LCC) (the "Company") is pleased
to announce that it has received the results from additional
metallurgical testing conducted on its 100% owned Taca Taca
copper/gold/molybdenum project located in Salta province, northern
Argentina. The objective of the latest testing was to optimize
metal recoveries from both supergene and primary mineralization to
a bulk copper/molybdenum concentrate. The results show that both
gold and molybdenum recoveries have increased significantly while
copper recoveries have also improved when compared to the results
from the initial test work.
The results from the optimization testing program and
comparisons with the initial test work are shown in the table
below:
----------------------------------------------------------------------------
Cu Head Mo Head Au Head Cu Mo Au
Grade Grade Grade Recovery Recovery Recovery
(%) (%) (g/t) (%) (%) (%)
----------------------------------------------------------------------------
Supergene(1)
----------------------------------------------------------------------------
Initial testing 0.60 0.021 0.11 85.2 59.3 37.4
----------------------------------------------------------------------------
Optimization 0.75 0.033 0.08 89.9 72.2 60.8
----------------------------------------------------------------------------
Primary
----------------------------------------------------------------------------
Initial testing 0.43 0.020 0.10 85.1 62.5 38.6
----------------------------------------------------------------------------
Optimization 0.45 0.028 0.16 92.8 84.0 62.4
----------------------------------------------------------------------------
(1) The comparative recoveries shown in the table above are based upon
recoveries to a bulk copper/molybdenum concentrate and are not directly
comparative to those recoveries shown in the press release dated January 11,
2011, as those results highlighted recoveries to both final copper and
molybdenum concentrates. Generally, higher recoveries to a bulk concentrate
will correlate to higher recoveries to final copper and molybdenum
concentrates. The higher molybdenum recoveries may be attributable to both
higher head grades as well as recovery optimization.
The optimization test work, completed at C.H. Plenge & CIA.
S.A. in Lima, Peru, was conducted on two composite samples each
comprising approximately 80 kilograms of core material from 3 drill
holes in the supergene and primary mineralized zones. The test work
focused on optimizing copper, gold and molybdenum recoveries
through changes to pH levels, retention time in the flotation cells
and increased amounts of various reagents.
The results from the metallurgical test work completed to date
show that a high quality, clean (less than 0.03% arsenic) copper
concentrate and a commercial grade molybdenum concentrate can be
produced from both supergene and primary mineralization at Taca
Taca at metal recoveries that are within industry standards for
mining operations processing similar types of mineral
resources.
The metallurgical testing program is now focused on further lock
cycle tests on a larger representative sample of the mineral
resource, crushing and grinding test work for mill design and
sizing, and testing of leached cap material to determine gold and
copper leaching characteristics and recovery.
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.
Lumina is undertaking an 87,000 meter drill program (approximately
36,000 meters drilled to date) at Taca Taca to expand the known
mineralization to depth and laterally to the north and south and
upgrading the current mineral resource estimate from the Inferred
to Indicated category.
On October 9, 2008, the Company released 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 0.47%
copper, 0.11g/t gold and 0.018% molybdenum (0.64% copper
equivalent(2)), containing 8.71 billion pounds of copper, 2.97
million ounces of gold and 333.70 million pounds off molybdenum.
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).
Marshall Koval, P.G., Vice President, Corporate Development and
the Qualified Persoon as defined by NI 43-101 for the engineering
studies on the Taca Taca project has reviewed and approved the
content of this press release as they relate to the metallurgical
test results.
(2) 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, concentrate grades and Lumina Copper's
commitment to, and plans for developing the Taca Taca project.
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 th e
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 Taca Taca project, 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.
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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