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Lumina Gold Corp.
Summary
| Project: | Cangrejos | |
|---|---|---|
| Deposit: | Cangrejos | |
| Location: | Ecuador | |
| Commodities: | Gold-Copper-Silver-Molybdenum | |
| Date: | 11/6/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-11-2017: Lumina Gold Corp. announces a Resource Estimation report for its Cangrejos deposit at the Cangrejos project. Updated Mineral Resource more than doubles ounces of Au. VANCOUVER, British Columbia, Nov. 06, 2017 -- Lumina Gold Corp. (TSX-V:LUM) (t | |
| Resources: | (Resource, Inf.): 423Mt @ 0.65g/t Au, 0.11% Cu, 0.6g/t Ag, 24.8ppm Mo at project | |
| CP/QP: | [Resources]: Robert Sim (SIM Geological Inc.) | |
| ABSTRACT: | VANCOUVER, British Columbia, Nov. 06, 2017 -- Lumina Gold Corp. (TSX-V:LUM) (the “Company” or “Lumina”) is pleased to announce an updated mineral resource estimate for the Company’s 100% owned Cangrejos Gold-Copper project, located in El Oro Province of southern Ecuador. All highlights above are calculated using the base case cut-off grade of 0.35 grams per tonne gold equivalent (“AuEq”) as summarized in the table below. This significant increase in the mineral resource size compared to the maiden resource announced in January 2017 is primarily due to new drilling completed in 2017 that encountered additional high-grade gold and copper mineralization at depth. As a result, the resource limiting pit shell now extends to depths exceeding 600 metres below surface, approximately 300 metres deeper than the previous resource limiting pit shell. There have also been changes to the interpretation of the mineralized domains used to control the distribution of gold and copper grades in the model, resulting in a reduction in the size of the low-grade central core of the deposit. The Cangrejos deposit remains open to further drilling to the north, south, west and at depth. Marshall Koval, President and CEO commented, “We are extremely pleased to see a significant increase in the scale of the deposit and an increase in the grade. Both of these factors will contribute positively to the Preliminary Economic Assessment planned for completion mid-next year. This resource estimate will serve as the basis for the assessment. Drilling in early 2018 will further delineate priority open areas of the Cangrejos deposit.” | |
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