Lumina Gold Corp (TSX-V:LUM, OTCQX:LMGDF) has announced results from ten drill holes at its Cangrejos in Ecuador, extending mineralization at Cangrejos to the north and northeast while continuing to expand the Gran Bestia higher-grade Breccia to the north.
Six of the reported drill holes were from Cangrejos and four from Gran Bestia. The company said that, to date, 88 drill holes have been completed and five drill holes are in progress, totalling 31,000 metres (m) of resource definition drilling. Resource drilling is estimated to be completed by the end of August.
At Cangrejos, Hole C22-199 was drilled on the northeastern margin of the deposit and intercepted 88m from 22m down the hole grading 0.75 g/t gold and 0.14% copper, for 0.96 g/t gold-equivalent (Au Eq.). Including intervals above and below this, a total of 182 metres exceeding the cut-off grade were drilled in the uppermost 252m from surface in hole C22-199 . This hole extends the north and northeastern margin of the Cangrejos deposit and, in addition, it contains grades that significantly exceed those predicted by the PEA resource estimate.
READ: Lumina Gold ups drill program at Gran Bestia after encouraging drill results from the Ecuador gold-copper property
The company said holes C22-197 and C22-205 were drilled along the northwestern margin of the Cangrejos deposit and grades were typical of those encountered in this area, including 54 metres from surface grading 0.40 g/t gold and 0.11% copper, for 0.56 g/t Au Eq. Holes C22-201, C22-204 and C22-206 were drilled in the south and southwestern margin of Cangrejos. One hole intersected 208 metres from 88 metres down the hole grading 0.31 g/t gold and 0.06% copper, for 0.39 g/t Au Eq. This intercept exceeded the grades predicted by the PEA resource estimate model.
At Gran Bestia, hole C22-200 intersected 144m grading 0.59 g/t gold with 0.07% copper for a gold equivalent of 0.70 g/t gold from 206 metres down the hole and, furthermore, in its upper part it intersected 10m grading 0.98 g/t gold with 0.03% copper for a gold equivalent of 1.03 g/t gold from 132m down the hole. This -45 degree hole targeted an area below the northern wall of the PEA resource constraining pit and adds volume and continuity to the higher grade breccia body in this area, it added.
Also at Gran Bestia, hole C22-202 intersected 94.4 metres grading 0.49 g/t gold with 0.07% copper for a gold equivalent of 0.59 g/t gold from just two metres down the hole. This intercept occurred in the eastern contact area between the mineralizing porphyry and batholith host and the result is expected to extend the Gran Bestia pit in that direction, towards Cangrejos. Also, hole C22-202 contained significantly higher grades than those predicted by the PEA resource estimate. Holes C22-198 and C22-203 were drilled along the south and southeastern margins of the deposit and generally encountered grades typical of this area, it said.
Lumina Gold Cis 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.
Contact the author at jon.hopkins@proactiveinvestors.com