- Lumina Gold Corp. (LUM) has shared the remaining results from its 2021-2022 drilling campaign to support a pre-feasibility study (PFS) at its Cangrejos Project in Ecuador
- The company stated the results were taken from the final seventeen drill holes, fifteen of which were from Gran Bestia and two from Cangrejos
- Both areas successfully extended mineralization
- The drilled step-out areas will be added to existing inferred and indicated resources
- Lumina Gold Corp. (LUM) is down 3.70 per cent, trading at $0.26 per share as of 3:12 p.m. ET
Lumina Gold (LUM) has shared the remaining results from its 2021-2022 drilling campaign to support a pre-feasibility study (PFS) at its Cangrejos Project in Ecuador.
The company stated the results were taken from the final seventeen drill holes, fifteen of which were from Gran Bestia and two from Cangrejos.
Results from the Cangerjos holes were reported as typical for this area, notably with hole C22-G7 returning 118 metres from surface grading 0.64 grams of gold per tonne and 0.12 per cent copper.
According to Lumina, hole C22-239 successfully extended the Gran Bestia deposit, grading 0.64 grams of gold per tonne and 0.10 per cent copper. Lumina Gold has left the deposit open to the north and at depth and has also gone beyond the 2020 preliminary economic assessment pit boundary.
Hole C22-G10 was drilled vertically from the center of the Gran Bestia deposit and returned a 450-metre interval from surface grading 0.64 grams of gold per tonne and 0.12 per cent copper.
Nine holes were collared on Gran Bestia Ridge, successfully extending mineralization to the west, northwest, north and northeast. Hole C22-235 intersected 0.73 grams of gold per tonne and 0.11 per cent copper, and ole C22-233 intersected 0.41 grams of gold per tonne and 0.07 per cent copper.
The newly drilled step-out areas are expected to add to existing inferred and indicated resources. The inclusion of the northwest ridge extension at Gran Bestia may lower the stripping ratio at the mine planning stage of the PFS study.
Lumina Gold Corp. (LUM) is down 3.70 per cent, trading at $0.26 per share as of 3:12 p.m. ET.