Luminex drills 15.1 g/t AuEq over 5.2 metres at Condor North, Ecuador
Luminex Resources Corp. [LR-TSXV; LUMIF-OTCQX] reported results from three holes drilled at the Camp deposit, part of the Condor North project area, Ecuador.
Drill holes CC22-39, CC22-40 and CC22-41 have enabled the company to delineate a thicker part of the Camp deposit. The three holes were drilled to infill an area of more widely spaced holes in the lower-central part of the deposit, which formed as composite sheets of mineralized material that dip steeply to the north.
This thicker part of the deposit has been defined by intercepts measuring above 10 metres true thickness horizontally, using a 1.0 g/t gold cut-off grade. It comprises an irregular area measuring approximately 200 metres by 200 metres and remains open to expansion to the southeast, northwest and to depth. Luminex expects these holes to add to the Camp mineral resource.
Luminex continues to drill infill and step-out holes on the Camp deposit, as well as step-out holes at the emerging, nearby Cuyes West and Ruiz structures with two active rigs at Condor North.
Hole CC22-41 intersected the thickest zone of gold mineralization with 41.8 metres grading 2.17 g/t gold, 25.5 g/t silver for an AuEq (gold equivalent) of 2.47 g/t, including 9.8 metres grading 3.40 g/t gold, 30.5 g/t silver for an AuEq of 3.76 g/t. The true thicknesses of these intercepts are interpreted to approximately 31% of the core length.
Holes CC22-39 and CC22-40 also contained notable intervals such as 5.2 metres grading 14.61 g/t gold, 37.4 g/t silver for an AuEq of 15.06 g/t in hole CC22-39 and 5.0 metres grading 8.92 g/t gold, 36.0 g/t silver for an AuEq of 9.35 g/t in hole CC22-40. The true thicknesses of these intervals are estimated to be 57% and 70% of the core length respectively.
Luminex Resources is focused on gold and copper projects in Ecuador. Luminex’s inferred and indicated mineral resources are located at the Condor Gold-Copper project in Zamora-Chinchipe Province, southeast Ecuador. The Condor Project is 98.7%-owned by Luminex and 1.3%-owned by the Instituto de Seguridad Social de las Fuerzas Armadas, which is the pension fund for Ecuador’s armed forces personnel.
Luminex also holds a large and highly prospective land package in Ecuador, including the Pegasus and Orquideas projects, which are being co-developed with Anglo American and JOGMEC respectively.