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Lumina Gold Corp.

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Summary

Project:

Cangrejos

Deposit:Cangrejos
Location:Ecuador
Commodities:Gold-Copper
Date:10/16/2017
Report Code:NI43-101
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resource Increase/Upgrade
Report details:16-10-2017: Lumina Gold Corp. announces an Exploration/Drilling Update report for its Cangrejos deposit at the Cangrejos project. Drilling results incl. 476m @ 0.95g/t Au, 0.32% Cu from 92m. VANCOUVER, British Columbia, Oct. 16, 2017 -- Lumina Gold Corp.
Resources:(not mentioned in this report)
CP/QP:[Overall Report]: Leo Hathaway (Internal)
ABSTRACT:VANCOUVER, British Columbia, Oct. 16, 2017 -- Lumina Gold Corp. (TSX-V:LUM) (the “Company” or “Lumina”) is pleased to announce additional drill results from the Cangrejos infill and depth extension program. A new, central higher-grade zone has now been defined by holes C17-58, 69 and 70. Results from hole C17-58 were previously released on June 26, 2017 and included a 126 metre zone (from 292 to 418 metres) averaging 3.69 grams per tonne gold and 0.30% copper. Holes C17-65, 69 and 70 were step out holes drilled in proximity to hole C17-58 and demonstrated continuity of a deep higher-grade zone. In addition, holes C17-65, 66 and 67 intersected mineralization starting at surface. In total the six holes (table below) represent 2,771 metres of drilling. The 7,186 metres drilled since March 2017, along with prior drilling, will form the basis of the updated mineral resource estimate expected in Q4 2017. The updated mineral resource estimate will be used as the basis for a Preliminary Economic Assessment (“PEA”) that is expected by Q2 2018. It is anticipated that the remainder of the drill program will be completed in the first half of 2018. In support of the PEA, a metallurgical testing program has been initiated by C.H. Plenge & CIA S.A. and a geotechnical characterization and stability review for PEA pit slope design has been initiated by Wyllie & Norrish Rock Engineers, Inc. In addition, Ausenco has completed a preliminary siting study for project plant site, tailings and waste rock storage facilities and access roads.

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