Highlights include:
Hole C22-179 – Highest grade gold intercept in project's
history: 10 metres grading 19.33 g/t gold
Hole C22-181 – 280m from
surface grading 0.99 gold equivalent at Gran Bestia, open to the
north and northwest
- Intercept is from an outcropping high grade breccia body that
is significantly larger than previously modelled
VANCOUVER, BC, May 9, 2022 /CNW/ - Lumina Gold Corp.
(TSXV: LUM) (OTCQX: LMGDF) (the "Company" or "Lumina") is
pleased to announce results from fifteen drill holes at its
Cangrejos project (the "Project") in Ecuador. Six of the reported drill holes are
from Cangrejos and nine are from Gran Bestia (see Table 1). To
date, 66 drill holes have been completed and four are in progress,
totalling 22,450m of drilling. Lumina
currently has eight rigs operating, seven working on resource
holes, and one dedicated to geotechnical drilling in support of the
Pre-Feasibility Study.
At the northern limit of the Cangrejos deposit, hole C22-179
returned the highest grade intercept drilled in the history of the
Project: 10 metres from 148 metres down the hole grading 19.33 g/t
gold with 0.12% copper for a gold equivalent of 19.51 g/t. High
grade veins such as this are typically found in the periphery of
large gold-copper porphyry deposits and additional intercepts are
likely to be found as the current program delineates these areas.
This intercept on its own does not provide enough data to calculate
a true thickness. Modelling work is underway to ensure that the
gold content in these areas is reflected in resource estimation.
Located in the same area, holes C22-171, C22-172 and C22-178
contained mineralization consistent with the delineation of the
northern margin of the deposit and similar mineralization was
intercepted by holes C22-174 and C22-180, that were drilled to
delineate the southern margin.
At the northeastern limit of the Gran Bestia deposit hole
C22-181 intersected 280.6m from
surface, grading 0.84g/t gold with 0.10% copper for a gold
equivalent 0.99 g/t, that included 44m from 80m down
hole grading 1.32g/t gold with 0.15% copper for a gold equivalent
1.55 g/t. Also in this area, hole C22-170 intersected 308.9m from 330m
down the hole, grading 0.67 g/t gold with 0.11% copper for a
gold equivalent 0.83 g/t, that included 48m from 406m down
the hole grading 1.25 g/t gold with 0.17% copper for a gold
equivalent 1.51 g/t. These intercepts are from an outcropping high
grade breccia body that is significantly larger than previously
modelled and remains open to the north, east and to depth.
Drill holes C22-169, C22-173, C22-176 and C22-182 continue to
extend the known extents of the mineralization at Gran Bestia to
the east and northeast. Holes C22-175, C22-177 and C22-183 were
located on the southwestern margin of Gran Bestia and will be used
to model the limits of the deposit in this area.
Table 1: Drill Results
Hole
|
Deposit /
|
From
|
To
|
Interval
|
Au
|
Cu
|
Au Eq
|
Total
Depth (m)
|
Azimuth / Dip (°)
|
(m)
|
(m)
|
(m)
|
(g/t)
|
(%)
|
(g/t)
|
C22-169
|
Gran Bestia
|
0
|
124
|
124
|
0.34
|
0.06
|
0.44
|
141.9
|
|
150 °/ -75 °
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
C22-170
|
Gran Bestia
|
22
|
58
|
36
|
0.39
|
0.07
|
0.51
|
638.85
|
And
|
142 °/ -45 °
|
196
|
208
|
12
|
0.21
|
0.01
|
0.23
|
|
And
|
|
330
|
638.9
|
308.9
|
0.67
|
0.11
|
0.83
|
|
Incl
|
|
406
|
454
|
48
|
1.25
|
0.17
|
1.51
|
|
Incl
|
|
530
|
558
|
28
|
1.11
|
0.08
|
1.24
|
|
|
|
|
|
|
|
|
|
|
C22-171
|
Cangrejos
|
54
|
78
|
24
|
0.24
|
0.04
|
0.31
|
261.3
|
And
|
330 °/ -72 °
|
94
|
130
|
36
|
0.29
|
0.12
|
0.48
|
|
And
|
|
146
|
204
|
58
|
0.50
|
0.08
|
0.62
|
|
|
|
|
|
|
|
|
|
|
C22-172
|
Cangrejos
|
58
|
146
|
88
|
0.40
|
0.12
|
0.57
|
394.7
|
And
|
330 °/ -55 °
|
180
|
216
|
36
|
0.34
|
0.05
|
0.42
|
|
And
|
|
236
|
282
|
46
|
0.29
|
0.03
|
0.34
|
|
And
|
|
314
|
344
|
30
|
0.20
|
0.02
|
0.23
|
|
|
|
|
|
|
|
|
|
|
C22-173
|
Gran Bestia
|
12
|
94
|
82
|
0.37
|
0.07
|
0.48
|
170.5
|
And
|
150 °/ -64 °
|
108
|
132
|
24
|
0.37
|
0.04
|
0.48
|
|
|
|
|
|
|
|
|
|
|
C22-174
|
Cangrejos
|
116
|
176
|
60
|
0.29
|
0.08
|
0.42
|
299.5
|
And
|
0 °/ -90 °
|
258
|
284
|
26
|
0.25
|
0.06
|
0.34
|
|
|
|
|
|
|
|
|
|
|
C22-175
|
Gran Bestia
|
90
|
100
|
10
|
0.46
|
0.07
|
0.58
|
221.9
|
And
|
0 °/ -90 °
|
122
|
142
|
20
|
0.26
|
0.06
|
0.35
|
|
|
|
|
|
|
|
|
|
|
C22-176
|
Gran Bestia
|
14
|
175.8
|
161.8
|
0.34
|
0.07
|
0.44
|
175.8
|
|
330 °/ -60 °
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
C22-177
|
Gran Bestia
|
No significant
intersections
|
231.0
|
|
0 °/ -90 °
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
C22-178
|
Cangrejos
|
14
|
80
|
66
|
0.50
|
0.06
|
1.03
|
167.6
|
And
|
330 °/ -71 °
|
120
|
162
|
42
|
0.29
|
0.07
|
0.39
|
|
|
|
|
|
|
|
|
|
|
C22-179
|
Cangrejos
|
0
|
10
|
10
|
1.04
|
0.06
|
1.18
|
338.0
|
And
|
330 °/ -71 °
|
60
|
126
|
66
|
0.45
|
0.05
|
0.53
|
|
And
|
|
148
|
176
|
28
|
7.18
|
0.09
|
7.31
|
|
Incl
|
|
148
|
158
|
10
|
19.33
|
0.12
|
19.51
|
|
And
|
|
208
|
226
|
18
|
0.43
|
0.03
|
0.47
|
|
And
|
|
246
|
290
|
44
|
0.28
|
0.04
|
0.34
|
|
|
|
|
|
|
|
|
|
|
C22-180
|
Cangrejos
|
4
|
18
|
14
|
0.27
|
0.10
|
0.43
|
372.2
|
And
|
150 °/ -76 °
|
76
|
116
|
40
|
0.27
|
0.09
|
0.40
|
|
And
|
|
218
|
296
|
78
|
0.45
|
0.06
|
0.55
|
|
And
|
|
312
|
372.15
|
60.15
|
0.20
|
0.06
|
0.30
|
|
|
|
|
|
|
|
|
|
|
C22-181
|
Gran Bestia
|
0
|
280.55
|
280.55
|
0.84
|
0.10
|
0.99
|
280.6
|
Incl
|
330 °/ -47 °
|
80
|
124
|
44
|
1.32
|
0.15
|
1.55
|
|
|
|
|
|
|
|
|
|
|
C22-182
|
Gran Bestia
|
40
|
120
|
80
|
0.37
|
0.05
|
0.46
|
508.3
|
And
|
133 °/ -70 °
|
136
|
260
|
124
|
0.44
|
0.05
|
0.52
|
|
And
|
|
338
|
506
|
168
|
0.48
|
0.06
|
0.57
|
|
|
|
|
|
|
|
|
|
|
C22-183
|
Gran Bestia
|
0
|
64
|
64
|
0.3
|
0.07
|
0.41
|
203.6
|
And
|
0 °/ -90 °
|
76
|
194
|
118
|
0.43
|
0.09
|
0.56
|
|
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 and 10-meter minimum reporting length. Sampling
is done in consistent, continuous 2-metre intervals. The highest
gold value used in the reported weighted averages is 64.9 g/t Au.
In addition to the above results there are multiple
intercepts of mineralized material in the drill holes which
do not meet the minimum reportable length. 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 ALS Labs' ("ALS") sample
preparation facilities in Quito,
Ecuador. Sample pulps are sent to ALS' chemical labs 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.
ALS 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. Cangrejos is being
advanced to a Pre-Feasibility Study and is the largest primary gold
deposit in Ecuador. Lumina has an
experienced management team with a successful track record of
advancing and monetizing exploration projects.
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Further details are available on the Company's website at
https://luminagold.com/. To receive future news releases please
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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.
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SOURCE Lumina Gold Corp.