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Luminex Resources Corp.
Summary
| Project: | Condor | |
|---|---|---|
| Deposit: | Camp Zone | |
| Location: | Ecuador | |
| Commodities: | Gold-Silver | |
| Date: | 11/4/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-11-2019: Luminex Resources Corp. announces an Exploration/Drilling Update report for its Camp Zone deposit at the Condor project. Drilling results incl. 130.0m @ 1.31g/t Au, 8.4g/t Ag from 27.0m. VANCOUVER, British Columbia, Nov. 04, 2019 -- Luminex Res | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Leo Hathaway (Internal) | |
| ABSTRACT: | VANCOUVER, British Columbia, Nov. 04, 2019 -- Luminex Resources Corp. (TSXV: LR) (US OTC: LUMIF) (the “Company” or “Luminex”) is pleased to provide a Camp Zone drilling update at the Condor Project, located in southeast Ecuador with results from holes CC19-09 through CC19-14. The Company has drilled approximately 7,600 metres to date in 18 holes and is continuing step-out drilling on mineralized intercepts, guided by surface sampling and mapping. A third rig has begun work at site. Current drilling has delineated a consistently mineralized zone of variable width over a strike length of 300 metres and vertical extent of 400 metres. The mineralization dips at approximately minus 80 degrees to the northeast, as illustrated in Figure 2. This zone is completely open to depth and work is continuing to understand lateral continuity. Importantly, hole CC19-12 tested the zone at least 300 metres below previous drilling and indicates that mineralization continues to these depths, see Figure 2. The 17 reported intercepts from this hole include a 0.8-metre core length returning 60.50 g/t gold and 299.0 g/t silver. This intercept was part of a broader 19.3 metres of 6.1 g/t gold and 36.3 g/t silver. In this hole, true thicknesses have been calculated for the reported intervals from 470 to 699 metres assuming that the zone(s) dip at the same angle as those intercepted higher up in the sequence, but this draws heavily on interpretations from holes hundreds of metres above this hole. Hole CC19-10 was a 70-metre step out to the southwest of CC19-03 and returned 14 high-grade intercepts that were less than one-metre in true width, making correlation with the zone in hole CC19-12 difficult. This is illustrated in Figure 3, from which gold mineralization can be interpreted to “pond” underneath impermeable rhyolite dikes. | |
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