Lumina Gold Corp (TSX-V:LUM, OTCQB:LMGDF) announced results from the 2023 Phase 1 mining resource conversion drilling campaign in support of the ongoing Feasibility Study (FS) at its Cangrejos Project in Ecuador, which included 85 metres (m) grading 2.42 grams per tonne (g/t) gold equivalent from surface and open to depth.
The precious and base metals exploration and development company said results also included the highest gold assay ever on the project in hole C23-253, 2m from 40 to 42m grading 580 g/t gold.
"Work on the revised resource estimate, pit slope design metallurgical testing including High-Pressure Grinding Roll testing are now all underway," Lumina Gold CEO Marshall Koval said in a statement.
"The assays from the resource infill program continue to demonstrate the exceptional continuity of grade at Cangrejos and are in line with expectations from previous drilling and studies," he added.
Lumina noted that resource drilling comprised part of a larger drill campaign at the Cangrejos and Gran Bestia deposits, which also included metallurgical samples and geotechnical holes with subsequent hydrogeological testing in support of pit slope design.
Lumina Gold is a precious and base metals exploration and development company focused on the Cangrejos Gold-Copper Project located in El Oro Province, southwest Ecuador.