BASE METALS

Lumina Gold extends Cangrejos drilling

Canadian explorer to test more step-out targets

Staff Reporter

This article is 5 years old. Images might not display.

The company this week reported latest results from 6,430m of resource infill, step-out and exploration drilling on Cangrejos and Gran Bestia, with highlights including two step-out intercepts from Cangrejos of 302m grading 1.22 grams per tonne gold and 0.14% copper from surface, and 175m of 0.65g/t gold and 0.08% copper from 28m depth.

Infill drilling at Cangrejos also returned 26m of 2.06g/t gold and 0.77% copper.

Lumina said it intended to test the northern ridgeline area at Gran Bestia before completing an updated resource estimate on Cangrejos by November. The ridgeline remained open to the northwest, where step-out holes were targeting the longest intercepts recorded to date.

At Gran Bestia infill drilling returned 184m grading 0.46g/t gold and 0.11% copper, and 220m grading 0.42g/t gold and 0.07% copper.

Further infill drilling at Gran Bestia cut long intervals of moderate-grade mineralisation from surface.

Lumina believes it may have reached the southern and eastern margins of the Gran Bestia deposit, but drilling on the Corridor zone has extended mineralisation well beyond previously assumed limits of the main resource. The company said it continued to work on modelling of Corridor zone mineralising controls.

Lumina's Toronto-quoted equity (TSXV:LUM) is trading 20% higher in the year to date at C65c, which gives the company a market capitalisation of $201.2 million.

 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.