Luminex drills 4.78 g/t AuEq over 20 metres at Cuyes West, Ecuador

Share this article

Luminex Resources Corp. [LR-TSXV; LUMIF-OTCQX] reported drill results from four holes (CU23-19 to CU23-22) at Cuyes West, Ecuador. The previously announced widening hanging wall mineralization adjacent to Cuyes West has expanded into a new breccia pipe with this added drilling yielding longer than 200-metre intervals of gold mineralization over one gram per tonne. Step-out drilling from this new breccia pipe and Cuyes West is ongoing, which will contribute towards updating the resource for the 90%-owned Condor North to include all Cuyes West drilling by Q4 2023.

Marshall Koval, CEO commented: “We are extremely happy with the discovery of a coherent breccia zone containing substantial mineralization, that widens to widths of more than 200 metres. The area is completely open to depth and may have a significant positive impact on the project.”

Hole CU23-22 intersected multiple high-grade structures in the breccia pipe, notably 15.0 metres of 6.68 g/t gold equivalent (AuEq), which included 3.0 metres from 316.0 metres grading 23.71 g/t gold and 156.4 g/t silver (25.59 g/t AuEq) and a wider intercept of 211.0 metres from 177 metres grading 1.01 g/t gold and 12.9 g/t silver (1.16 g/t AuEq).

CU23-20 intersected 20.0 metres grading 4.23 g/t gold and 45.4 g/t silver (4.78 g/t AuEq) from 264.0 metres in the breccia pipe, within a broader intercept of 211.0 metres from 134.0 metres grading 1.07 g/t gold and 9.4 g/t silver (1.18 g/t AuEq).

Hole CU23-21 intersected multiple high-grade intercepts, including 1.0 metre of 9.50 g/t gold and 181.0 g/t silver (11.67 g/t AuEq) from 285.0 metres, within a broader 96.0 metres of 0.95 g/t gold and 15.6 g/t silver (1.14 g/t AuEq) from 213.0 metres. This hole stepped out approximately 100 metres vertically on Cuyes West below hole CU22-14, which hit 16.0 metres of 3.04 g/t gold and 12.5g/t silver (3.19g/t AuEq) from 275.0 metres.

Hole CU23-21 is plotting at the fringe of the newly discovered breccia body along the Cuyes West structure. More step out drilling is required to fully define the extent of the new breccia body and to determine how this will impact the resource for this area.

The style of mineralization at Cuyes West is identical to that at the Camp deposit, 600 metres to the west. At a property scale, these mineralized structures are interpreted to be hosted in ring and radial fractures around the Los Cuyes caldera.

Luminex is currently drilling CU23-26 and has drilled a total of 3,865 metres in 2023 at Cuyes West. Additionally, Luminex has finished five holes at Prometedor for a total of 824 metres and is awaiting assays. The second drill rig has been moved to the Esperanza gold-silver target, located approximately 500 metres south of Prometedor. One drill hole is planned, targeting gold-silver mineralization in sulphides that occurs along the contacts of rhyolite dikes, in a setting very similar to the Camp deposit.

Luminex’s inferred and indicated mineral resources are located at the Condor Gold-Copper project in Zamora-Chinchipe Province, southeast Ecuador. 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.

Share this article

Leave a Reply

Your email address will not be published. Required fields are marked *