VANCOUVER, Feb. 3, 2022 /CNW/ - Lumina Gold
Corp. (TSXV: LUM) (OTCQX: LMGDF) (the "Company" or
"Lumina") is pleased to announce drill results from the first two
holes of the 2021-2022 drill program. These holes represent 1,227
metres of drilling. Both holes were drilled on the Cangrejos
deposit. Through January
31st, 4,803 meters of the planned program has
been drilled. Of the 12 holes completed or started to date, 10 are
at Cangrejos and 2 are at Gran Bestia.
Drill Highlights:
- C19-148: 550 metre hole with continuous gold mineralization;
470 metres above cut-off
– Including 266 metres of 0.69 g/t gold and 0.10% copper;
containing 40 metres of 1.34 g/t gold and 0.14% copper
- C19-149: 672 metre hole with continuous gold mineralization;
596 metres above cut-off
– Including 240 metres of 0.58 g/t gold and 0.21% copper from
surface; containing 20 metres of 1.39 g/t gold and 0.19%
copper
The collars of holes 148 and 149, located approximately 200
meters apart, were drilled in opposite directions in the
south-central portion of the Cangrejos deposit. Both holes cut
hundreds of metres of strong mineralization. As expected, higher
gold values relate to zones of higher copper grades (largely
occurring as chalcopyrite). The highest gold values are associated
with intervals where copper occurs in both chalcopyrite and bornite
mineralization. It's important to note that the mineralization is
hosted in all rock types present in the holes, equigranular
granodiorite, multiple porphyritic phases as well as tourmaline
breccia. Both holes ended in mineralization.
Table 1: Drill Intercept Summary
Hole
Number
|
Deposit
|
From
|
To
|
Interval
|
Au
Grade
|
Cu
Grade
|
Au
Eq. Grade
|
Cu
Eq. Grade
|
Azimuth / Dip
|
Total Depth
|
(m)
|
(m)
|
(m)
|
(g/t)
|
(%)
|
(g/t)
|
(%)
|
(°)
|
(m)
|
C19-148
|
Cangrejos
|
10
|
128
|
118
|
0.67
|
0.08
|
0.79
|
0.58
|
150 / -71
|
550
|
Incl.
|
|
10
|
50
|
40
|
1.10
|
0.09
|
1.25
|
0.91
|
|
|
And
|
|
148
|
414
|
266
|
0.69
|
0.10
|
0.85
|
0.62
|
|
|
Incl.
|
|
280
|
320
|
40
|
1.34
|
0.14
|
1.56
|
1.14
|
|
|
And
|
|
454
|
550
|
96
|
0.52
|
0.14
|
0.75
|
0.54
|
|
|
C19-149
|
Cangrejos
|
0
|
240
|
240
|
0.58
|
0.21
|
0.89
|
0.65
|
330 / -53
|
672
|
And
|
|
316
|
672
|
356
|
0.65
|
0.11
|
0.82
|
0.60
|
|
|
Incl.
|
|
380
|
400
|
20
|
1.39
|
0.19
|
1.68
|
1.22
|
|
|
Note: Intervals in the reported holes are calculated using a
cut-off of 0.2 g/t Au with maximum internal dilution of ten
continuous metres. Sampling is done in consistent, continuous
2-metre intervals. The highest gold value used in the reported
weighted averages is 8.78 g/t Au. In addition to the above
results there were multiple intercepts of lower-grade material in
the drill holes. Equivalent values were calculated using Gold
equivalent values were calculated using the following prices: a
gold price of US$1,500 per ounce, a
copper price of US$3.00 per pound, a
molybdenum price of US$7.00 per pound
and a silver price of US$18.00 per
ounce.
Quality Assurance
All Lumina sample assay results have been independently
monitored through a quality control / quality assurance ("QA/QC")
program that includes the insertion of blind standards, blanks and
pulp and reject duplicate samples. Logging and sampling are
completed at Lumina's secure facility located at the Cangrejos
Project. Drill core is sawn in half on site and half drill-core
samples are securely transported to Bureau Veritas Labs' (BV)
sample preparation facility in Quito,
Ecuador. Sample pulps are sent to BV's chemical lab in
Lima, Peru for analysis. Gold
content is determined by fire assay of a 30 gram charge with total
copper content determined by four-acid digestion with ICP
finish. BV Labs is independent from Lumina.
Lumina is not aware of any drilling, sampling, recovery or other
factors that could materially affect the accuracy or reliability of
the data referred to herein.
Qualified Persons
Leo Hathaway, P.Geo., Senior Vice
President of Lumina and the Qualified Person as defined by National
Instrument 43-101 - Standards of Disclosure for Mineral
Projects for the Cangrejos Project has reviewed, verified and
approved the contents of this news release and has verified the
data underlying the contents of this news release.
About Lumina Gold
Lumina Gold Corp. (TSXV: LUM) is a Vancouver, Canada based precious and base
metals exploration and development company focused on the Cangrejos
Gold-Copper Project located in El Oro Province, southwest
Ecuador. Lumina has an experienced
management team with a successful track record of advancing and
monetizing exploration projects.
LUMINA GOLD CORP.
Signed: "Marshall Koval"
Marshall Koval, President
& CEO, Director
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Further details are available on the Company's website
at https://luminagold.com/.
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https://luminagold.com/contact.
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SOURCE Lumina Gold Corp.