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Lumina Gold Corp.
Summary
| Project: | Cangrejos | |
|---|---|---|
| Deposit: | Cangrejos | |
| Location: | Ecuador | |
| Commodities: | Gold-Copper-Silver-Molybdenum | |
| Date: | 1/25/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-1-2017: Lumina Gold Corp. announces a Resource Estimation report for its Cangrejos deposit at the Cangrejos project. Initial inferred resource estimate for Cangrejos project. This Technical Report provides a mineral resource for the Cangrejos Gold-Copp | |
| Resources: | (Resource, Inf): 191.8Mt @ 0.81g/t AuEq contained at project (0.35g/t AuEq cutoff) | |
| CP/QP: | [Resources]: Robert Sim (SIM Geological Inc.) | |
| ABSTRACT: | This Technical Report provides a mineral resource for the Cangrejos Gold-Copper Project (Cangrejos Project) of Lumina Gold Corp. (Lumina) in Ecuador. The report was written by Michel Rowland Brepsant, FAusIMM; Robert Sim, P.Geo.; and, Bruce Davis, FAusIMM. All are independent “qualified persons”. Mineral Resource Estimate The resource estimate was generated using drill hole sample assay results and the interpretation of a geological model which relates to the spatial distribution of gold, silver, copper and molybdenum. Interpolation characteristics were defined based on the geology, drill hole spacing, and geostatistical analysis of the data. Estimations are made from 3D block models based on geostatistical applications using commercial mine planning software. Based on the current level of exploration, the Cangrejos deposit contains an inferred mineral resource of 192 million tonnes at a grade of 0.64 g/t Au, 0.8 g/t Ag, 0.10% Cu and 31 ppm Mo containing 4 Moz Au, 4.6 Moz Ag, 440 Mlbs Cu and 13 Mlbs Mo. Portions of some holes drilled by Odin in 1999 and 2000 have not been analyzed for copper, silver and molybdenum content. Although these additional elements are considered as part of the overall inferred mineral resource, the confidence level is somewhat diminished due to this missing data. If possible, resampling the missing intervals is recommended. The Cangrejos deposit remains open to the north, south, west and at depth. There is good exploration potential at the Gran Bestia Zone located 1 km northwest of Cangrejos. | |
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