Gran Bestia drilling highlights
include:
- C22-235: 0.91 g/t gold equivalent over 282 metres from 156
metres
- C22-239: 0.79 g/t gold equivalent over 454 metres from
surface
- C22-G10: 0.83 g/t gold equivalent over 450 metres from
surface
-
- Including a 118-metre interval from 10 metres down hole of 1.59
g/t gold equivalent
VANCOUVER, BC, Sept. 26,
2022 /CNW/ - Lumina Gold Corp. (TSXV: LUM)
(OTCQX: LMGDF) (the "Company" or "Lumina") is pleased to
announce the remaining results from the 2021-2022 drilling campaign
in support of the ongoing Prefeasibility Study ("PFS") at its
Cangrejos Project (the "Project") in Ecuador. Results from the final seventeen
drill holes, fifteen from Gran Bestia and two from Cangrejos are
provided in Table 1. Holes with a "G" designation are combined
geotechnical and mineral resource drill holes.
Marshall Koval, President and CEO
commented: "Receiving the final assays from Lumina's 36,000 metre
PFS drill campaign allows resource estimation work to commence,
which is a critical path item for completion of the PFS. The drill
results continue to demonstrate the exceptional continuity of grade
at Cangrejos and Gran Bestia and are in line with expectations from
previous drilling. The newly drilled step-out areas are expected to
add to existing Inferred and Indicated resources and the inclusion
of the northwest ridge extension at Gran Bestia may lower the
stripping ratio at the mine planning stage of the PFS study."
Cangrejos Drill-Hole
Results
Results from C22-G7 and C22-G8 at Cangrejos located in the
central and northern central area of the Cangrejos deposit are
typical of this area, with hole C22-G7 returning 118 metres from
surface grading 0.64 g/t gold and 0.12% copper, for a gold
equivalent grade of 0.83 g/t.
Gran Bestia Drill-Hole
Results
Hole C22-239 was drilled to extend the Gran Bestia deposit to
the northwest and returned a 454 metre interval from surface
grading 0.64 g/t gold and 0.10% copper, for a gold equivalent grade
of 0.79 g/t, leaving the deposit open in this direction, to the
north and to depth, as well as extending mineralization beyond the
2020 Preliminary Economic Assessment ("PEA") pit boundary. Hole
C22-G10 was drilled vertically from the center of the Gran Bestia
deposit and returned a 450-metre interval from surface grading 0.64
g/t gold and 0.12% copper, for a gold equivalent grade of 0.83 g/t,
including a 118-metre interval from 10 metres down hole of 1.28 g/t
gold and 0.21% copper, for a gold equivalent grade of 1.59 g/t.
Nine of the remaining fifteen holes were collared on Gran Bestia
Ridge to extend mineralization to the west, northwest, north and
northeast. Hole C22-235, at the northern part of the ridge
intersected 282m grading 0.73 g/t
gold and 0.11% copper, for a gold equivalent grade of 0.91 g/t from
156 metres. Hole C22-233 in the central part of the ridge
intersected 428m grading 0.41 g/t
gold and 0.07% copper for a gold equivalent of 0.51 g/t from 58
metres down hole.
Table 1: Drill Results
Hole
|
Deposit
/
|
From
|
To
|
Interval
|
Au
|
Cu
|
Au Eq
|
Total
Depth
|
|
Azimuth / Dip
(°)
|
(m)
|
(m)
|
(m)
|
(g/t)
|
( %)
|
(g/t)
|
(m)
|
C22-232
|
Gran Bestia
|
24
|
38
|
14
|
0.36
|
0.06
|
0.46
|
484.3
|
And
|
330 °/ -70 °
|
50
|
450
|
400
|
0.43
|
0.09
|
0.57
|
|
And
|
|
464
|
480
|
16
|
0.22
|
0.07
|
0.32
|
|
|
|
|
|
|
|
|
|
|
C22-233
|
Gran Bestia
|
22
|
42
|
20
|
0.29
|
0.06
|
0.41
|
488.3
|
And
|
150 °/ -76 °
|
48
|
486
|
428
|
0.41
|
0.07
|
0.51
|
|
Incl
|
|
326
|
362
|
36
|
1.01
|
0.16
|
1.25
|
|
|
|
|
|
|
|
|
|
|
C22-234
|
Gran Bestia
|
28
|
292
|
264
|
0.56
|
0.09
|
0.69
|
473.3
|
And
|
0 °/ -90
°
|
306
|
320
|
14
|
0.35
|
0.06
|
0.45
|
|
And
|
|
332
|
432
|
100
|
0.30
|
0.08
|
0.42
|
|
|
|
|
|
|
|
|
|
|
C22-235
|
Gran Bestia
|
24
|
34
|
10
|
0.41
|
0.03
|
0.47
|
456.8
|
And
|
330 °/ -70
°
|
46
|
56
|
10
|
0.22
|
0.06
|
0.32
|
|
And
|
|
156
|
438
|
282
|
0.73
|
0.11
|
0.91
|
|
Incl
|
|
300
|
372
|
72
|
1.63
|
0.21
|
1.95
|
|
|
|
|
|
|
|
|
|
|
C22-236
|
Gran
Bestia
|
2
|
36
|
34
|
0.56
|
0.07
|
0.68
|
470.1
|
And
|
270 °/ -70 °
|
50
|
442
|
392
|
0.36
|
0.08
|
0.48
|
|
Incl
|
|
158
|
172
|
14
|
1.13
|
0.16
|
1.37
|
|
|
|
|
|
|
|
|
|
|
C22-237
|
Gran Bestia
|
92
|
102
|
10
|
0.27
|
0.04
|
0.34
|
483.9
|
And
|
45 °/ -70 °
|
116
|
160
|
44
|
0.39
|
0.07
|
0.51
|
|
And
|
|
178
|
190
|
12
|
0.28
|
0.03
|
0.35
|
|
And
|
|
226
|
248
|
22
|
0.21
|
0.05
|
0.30
|
|
And
|
|
272
|
284
|
12
|
0.40
|
0.05
|
0.48
|
|
And
|
|
298
|
460
|
162
|
0.60
|
0.07
|
0.70
|
|
Incl
|
|
384
|
438
|
54
|
1.20
|
0.10
|
1.36
|
|
|
|
|
|
|
|
|
|
|
C22-238
|
Gran
Bestia
|
2
|
24
|
22
|
0.30
|
0.06
|
0.39
|
476.3
|
And
|
0 °/ -90 °
|
36
|
308
|
272
|
0.59
|
0.08
|
0.73
|
|
And
|
|
320
|
354
|
34
|
0.24
|
0.07
|
0.34
|
|
And
|
(to end of
hole)
|
450
|
476.3
|
26.25
|
0.34
|
0.08
|
0.45
|
|
|
|
|
|
|
|
|
|
|
C22-239
|
Gran Bestia
|
0
|
453.7 (TD)
|
453.70
|
0.64
|
0.10
|
0.80
|
453.7
|
And
|
0 °/ -45 °
(incl)
|
50
|
100
|
50
|
1.04
|
0.15
|
1.27
|
|
Incl
|
|
176
|
264
|
88
|
0.83
|
0.13
|
1.03
|
|
|
|
|
|
|
|
|
|
|
C22-240
|
Gran Bestia
|
14
|
24
|
10
|
0.54
|
0.07
|
0.66
|
500.9
|
And
|
0 °/ -70 °
|
54
|
86
|
32
|
0.30
|
0.03
|
0.37
|
|
And
|
|
100
|
150
|
50
|
0.26
|
0.05
|
0.34
|
|
And
|
|
166
|
218
|
52
|
0.33
|
0.05
|
0.43
|
|
And
|
|
232
|
424
|
192
|
0.48
|
0.07
|
0.59
|
|
And
|
|
444
|
456
|
12
|
0.29
|
0.03
|
0.34
|
|
|
|
|
|
|
|
|
|
|
C22-241
|
Gran Bestia
|
2
|
134
|
132
|
0.63
|
0.07
|
0.74
|
453.4
|
Incl
|
330 °/ -40 °
|
30
|
56
|
26
|
1.09
|
0.09
|
1.23
|
|
And
|
|
150
|
162
|
12
|
0.20
|
0.05
|
0.28
|
|
And
|
|
174
|
394
|
220
|
0.77
|
0.09
|
0.90
|
|
Incl
|
|
314
|
366
|
52
|
1.10
|
0.10
|
1.24
|
|
And
|
|
408
|
434
|
26
|
0.35
|
0.05
|
0.42
|
|
|
|
|
|
|
|
|
|
|
C22-G7
|
Cangrejos
|
0
|
118
|
118
|
0.64
|
0.12
|
0.83
|
651.2
|
And
|
348 °/ -80 °
|
130
|
162
|
32
|
0.25
|
0.07
|
0.36
|
|
And
|
|
174
|
204
|
30
|
0.22
|
0.08
|
0.33
|
|
And
|
|
236
|
258
|
22
|
0.33
|
0.03
|
0.37
|
|
And
|
|
364
|
374
|
10
|
0.40
|
0.05
|
0.47
|
|
And
|
|
474
|
528
|
54
|
0.67
|
0.13
|
0.88
|
|
And
|
|
540
|
556
|
16
|
0.26
|
0.04
|
0.32
|
|
|
|
|
|
|
|
|
|
|
C22-G8
|
Cangrejos
|
2
|
14
|
12
|
0.55
|
0.11
|
0.77
|
676.0
|
And
|
0 °/ -90 °
|
26
|
50
|
24
|
0.32
|
0.04
|
0.39
|
|
And
|
|
68
|
88
|
20
|
0.20
|
0.02
|
0.23
|
|
And
|
|
268
|
278
|
10
|
0.38
|
0.08
|
0.51
|
|
And
|
|
350
|
392
|
42
|
0.64
|
0.09
|
0.78
|
|
And
|
|
416
|
552
|
136
|
0.51
|
0.05
|
0.59
|
|
Incl
|
|
490
|
508
|
18
|
1.21
|
0.06
|
1.30
|
|
And
|
|
578
|
620
|
42
|
0.42
|
0.02
|
0.46
|
|
And
|
(to end of
hole)
|
646
|
676
|
30
|
0.43
|
0.03
|
0.48
|
|
|
|
|
|
|
|
|
|
|
C22-G9
|
Gran Bestia
|
0
|
278
|
278
|
0.36
|
0.08
|
0.48
|
393.1
|
And
|
0 °/ -90 °
|
290
|
304
|
14
|
0.24
|
0.04
|
0.31
|
|
And
|
|
316
|
336
|
20
|
0.21
|
0.03
|
0.26
|
|
|
|
|
|
|
|
|
|
|
C22-G10
|
Gran Bestia
|
0
|
450
|
450
|
0.64
|
0.12
|
0.83
|
651.8
|
Incl
|
0 °/ -90 °
|
10
|
128
|
118
|
1.28
|
0.21
|
1.59
|
|
And
|
|
470
|
516
|
46
|
0.61
|
0.06
|
0.70
|
|
And
|
|
560
|
582
|
22
|
0.25
|
0.07
|
0.36
|
|
|
|
|
|
|
|
|
|
|
C22-G11
|
Gran Bestia
|
0
|
180
|
180
|
0.49
|
0.11
|
0.65
|
334.5
|
And
|
0 °/ -60 °
|
308
|
330
|
22
|
0.20
|
0.05
|
0.28
|
|
|
|
|
|
|
|
|
|
|
C22-G12
|
Gran Bestia
|
30
|
44
|
14
|
0.24
|
0.07
|
0.34
|
352.7
|
And
|
270 °/ -70 °
|
56
|
146
|
90
|
0.28
|
0.07
|
0.38
|
|
And
|
|
246
|
264
|
18
|
0.20
|
0.05
|
0.27
|
|
|
|
|
|
|
|
|
|
|
C22-G13
|
Gran Bestia
|
62
|
116
|
54
|
0.21
|
0.03
|
0.27
|
450.4
|
And
|
0 °/ -55 °
|
170
|
232
|
62
|
0.32
|
0.06
|
0.43
|
|
And
|
|
272
|
288
|
16
|
0.25
|
0.09
|
0.37
|
|
And
|
|
302
|
338
|
36
|
0.94
|
0.07
|
1.05
|
|
|
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 23.2 g/t Au. In
addition to the above results there were multiple intercepts of
lower-grade material in the drill holes. Equivalent values assume
100% recovery of all quoted metals and the following prices were
used: 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.
The lab 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 Person
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
sign up at https://luminagold.com/contact.
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.
Cautionary Note Regarding
Forward-Looking Information
Certain statements and information herein, including all
statements that are not historical facts, contain forward-looking
statements and forward-looking information within the meaning of
applicable securities laws. Such forward-looking statements or
information include but are not limited to statements or
information with respect to potentially adding mineral resources
and impacts on components of a PFS study. Often, but not always,
forward-looking statements or information can be identified by the
use of words such as "will" or "projected" or variations of those
words or statements that certain actions, events or results "will",
"could", "are proposed to", "are planned to", "are expected to" or
"are anticipated to" be taken, occur or be achieved.
With respect to forward-looking statements and information
contained herein, the Company has made numerous assumptions
including among other things, assumptions about general business
and economic conditions, the prices of gold and copper, and
anticipated costs and expenditures. The foregoing list of
assumptions is not exhaustive.
Although management of the Company believes that the
assumptions made and the expectations represented by such
statements or information are reasonable, there can be no assurance
that a forward-looking statement or information herein will prove
to be accurate. Forward-looking statements and information by their
nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause the
Company's actual results, performance or achievements, or industry
results, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements or information. These factors include,
but are not limited to: risks associated with the business of the
Company; business and economic conditions in the mining industry
generally; the supply and demand for labour and other project
inputs; changes in commodity prices; changes in interest and
currency exchange rates; risks relating to inaccurate geological
and engineering assumptions (including with respect to the tonnage,
grade and recoverability of reserves and resources); risks relating
to unanticipated operational difficulties (including failure of
equipment or processes to operate in accordance with specifications
or expectations, cost escalation, unavailability of materials and
equipment, government action or delays in the receipt of government
approvals, industrial disturbances or other job action, and
unanticipated events related to health, safety and environmental
matters); risks relating to adverse weather conditions; political
risk and social unrest; changes in general economic conditions or
conditions in the financial markets; and other risk factors as
detailed from time to time in the Company's continuous disclosure
documents filed with Canadian securities administrators. The
Company does not undertake to update any forward-looking
information, except in accordance with applicable securities
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SOURCE Lumina Gold Corp.