Luminex Resources Corp. is pleased to announce it has resumed drilling at Condor North, the gold-silver epithermal area of Condor, which was the basis of the 2021 Preliminary Economic Assessment. Initially, the drilling will target the new high-grade discovery adjacent to the Los Cuyes open pit mineral resource (see March 14, 2022 news release). An additional 1,500 metres, over a planned five holes, will help Luminex to better understand the extent of this discovery (see Figures 1-3).
The drill program is designed to test the lateral continuity of the new zone at Los Cuyes West and may be modified to also test the depth extent, depending on results (see Figures 2 and 3).
Following completion of drilling at Los Cuyes, Luminex plans to move to the Camp resource area and drill approximately 2,000 metres in a series of holes to extend and infill gaps within the current mineral resource (see news release dated July 28, 2021). The goal of this effort will be to enhance the size and continuity of the existing gold-silver underground mineral resource at Camp.
Work at Central Condor in the area between where past El Hito drilling was performed and Wanwintza Alto (“El Hito North”) indicates that the best copper mineralization, including the centre of the porphyry system, lies to the north of the historic drilling. The best drill interval returned at El Hito was 332m from surface, grading 0.44% copper and 53ppm molybdenum. Gold was not analysed in this historic drilling. Luminex is awaiting final results from rock, soil and magnetic work programs before determining El Hito North drill targets. The Company expects the completion of this preliminary work to align with the end of drilling at Condor North, enabling it to drill the most prospective copper targets in Central Condor later this year.
Prometedor is the final planned target of this campaign. After drilling is completed in Central Condor, the Company intends to drive access north with new trails and drill its best gold targets there.
Leo Hathaway, P. Geo, Senior Vice President Exploration of Luminex and the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed, verified and approved the scientific and technical information concerning the Condor Project in this news release and has verified the data underlying that scientific and technical information.
Luminex Resources Corp. is a Vancouver, Canada based precious and base metals exploration and development company 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. Luminex also holds a large and highly prospective land package in Ecuador, including the Tarqui, Pegasus and Orquideas projects, which are being co-developed with BHP Group plc, Anglo American and JOGMEC respectively.
Further details are available on the Company’s website at https://luminexresources.com/.
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LUMINEX RESOURCES CORP.
Signed: “Marshall Koval”
Marshall Koval, CEO and Director