LMGDF - Lumina Gold Announces First Corridor Zone Drill Results; Discovers High Grade Breccia and Massive Sulphide

June, 26 2019 07:30 AM Odin Mining & Exploration Ltd

Highlights:

Corridor Zone – Between Gran Bestia Deposit and Cangrejos Deposit

C19-117: 8 metres of 14.70 g/t gold and 0.02% copper and 8 metres of 4.70 g/t gold and 0.23% copper
C19-121: 4 metres of semi-massive sulphide material grading 5.98 g/t gold and 3.04% copper

Cangrejos Deposit

C19-122: 132 metres of 0.97 g/t gold and 0.08% copper from surface
C19-119: 90 metres of 0.73 g/t gold and 0.01% copper from surface

VANCOUVER, British Columbia, June 26, 2019 (GLOBE NEWSWIRE) -- Lumina Gold Corp. (TSXV: LUM) (OTCQX: LMGDF) (the “Company” or “Lumina”) is pleased to announce additional drill results from the Cangrejos and Gran Bestia resource infill, step-out and depth extension program. These eight holes (C19-117 to C19-124) represent approximately 3,680 metres of drilling. The results include two holes from the Gran Bestia Deposit and four from the Cangrejos Deposit. In addition, two holes have now been drilled in the unexplored “Corridor” between Cangrejos and Gran Bestia to search for any continuity across the narrow zone separating the two deposits.

C19-117 and 121, the first holes to test for continuity between the deposits, both returned significant mineralization albeit of different styles. Hole 117 cut two high-grade 8-metre wide intercepts associated with strongly altered zones, grading 14.7 g/t gold and 4.7 g/t gold respectively. C19-121 cut extensive low-grade mineralization in the 0.3 to 0.5 g/t gold range over an aggregate 280 metres. C19-121 also cut at depth semi-massive chalcopyrite and pyrrhotite hosted in breccia grading 5.98 g/t gold and 3.04% copper over a 4-metre interval. These initial results suggest continuity may exist between the deposits. Exploration of the Corridor is continuing.

Two holes, C19-119 and C19-122 drilled from the same pad, but in opposite directions at Cangrejos both cut significant at-surface intervals of good grade in the north-central portion of the deposit. These holes merit follow-up exploration in the Corridor area to determine if this area could be suitable for mining in early years of a future mine plan.

Recently completed step-out holes drilled to the southwest at both deposits leave mineralization open in that direction. Holes C19-120 and 123 were collared from the same pad and drilled in opposite directions from the southwestern-most pad at Gran Bestia cut long intervals of mineralization. Holes from the southwestern-most pad at Cangrejos (C19-118 and 124, along with previously reported C19-114) also hit significant, long intervals of mineralization. Rock and soil gold geochemistry suggest mineralization could extend more than a kilometre to the southwest of current drilling on the Cangrejos deposit.

Drill Hole Location Map

https://www.globenewswire.com/NewsRoom/AttachmentNg/1b834bdf-6ba3-4a37-82ac-615825d63bab

Drill Intercept Summary

Hole Number
Deposit
From
To
Interval
Au Grade
Cu Grade
Azimuth
Dip
Type
(m)
(m)
(m)
(g/t)
(%)
(°)
(°)
C19-117
Corridor
94
102
8
14.70
0.02
190
-60
Step-out
And

182
190
8
4.70
0.20



And

300
320
20
0.33
0.16



And

334
400
66
0.26
0.11



C19-118
Cangrejos
100
174
74
0.47
0.05
150
-45
Step-out
And

188
306
118
0.36
0.04



C19-119
Cangrejos
0
90
90
0.73
0.01
330
-61
Step-out
Incl

20
60
40
1.05
0.02



And

106
180
74
0.66
0.09



And

266
352
86
0.64
0.18



Incl

298
344
46
0.80
0.25



C19-120
Gran Bestia
44
70
26
0.24
0.07
330
-45
Step-out
And

82
102
20
0.30
0.12



And

200
292
92
0.25
0.06



And

304
320
16
0.37
0.10



And

338
350
12
0.48
0.08



And

430
468
38
0.28
0.01



And

494
546
52
0.33
0.07



C19-121
Corridor
24
42
18
0.27
0.04
240
-46
Step-out
And

66
84
18
0.38
0.09



And

104
148
44
0.34
0.04



And

196
236
40
0.31
0.04



And

272
338
66
0.26
0.03



And

378
422
44
0.76
0.34



Incl

380
384
4
5.98
3.04



And

444
454
10
0.49
0.05



And

476
512
36
0.38
0.05



C19-122
Cangrejos
0
132
132
0.98
0.08
150
-45
In-Fill
And

266
292
26
0.21
0.06



And

334
500
166
0.36
0.1



C19-123
Gran Bestia
8
24
16
0.32
0.07
150
-45
Step-out
And

38
52
14
0.25
0.07



And

70
216
146
0.36
0.08



And

242
284
42
0.26
0.08



C19-124
Cangrejos
46
100
54
0.35
0.05
273
-45
Step-out
And

114
124
10
0.59
0.29



And

136
378
242
0.30
0.06

Note: Intervals in the reported holes are calculated using a cut-off of 0.2 g/t Au with maximum internal dilution of ten continuous metres. Sampling is done in consistent, continuous 2-metre intervals. The highest gold value used in the reported weighted averages is 38 g/t Au. Above cut-off intervals of less than 10 m are typically not reported except for distinct intercepts or rare, massive sulphide. In addition to the above results there were multiple intercepts of lower-grade material in the drill holes.

Quality Assurance

All Lumina sample assay results have been independently monitored through a quality control / quality assurance ("QA/QC") program including the insertion of blind standards, blanks and pulp and reject duplicate samples. Logging and sampling are completed at Lumina’s secure facility located at the Cangrejos Project. Drill core is sawn in half on site and half drill-core samples are securely transported to ALS Lab's sample preparation facility in Quito, Ecuador. Sample pulps are sent to Lima, Peru for analysis. Gold content is determined by fire assay of a 30 gram charge with total copper content determined by four-acid digestion with ICP finish. ALS Labs is independent from Lumina.

Lumina is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to herein.

Qualified Persons

Leo Hathaway, P.Geo., Senior Vice President of Lumina and the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects for the Cangrejos Project has reviewed, verified and approved the contents of this news release.

About Lumina Gold

Lumina Gold Corp. (TSXV: LUM) is a Vancouver, Canada based precious and base metals exploration and development company focused on the Cangrejos Gold-Copper Project located in El Oro Province, southwest Ecuador. Lumina has an experienced management team with a successful track record of advancing and monetizing exploration projects.

Further details are available on the Company’s website at https://luminagold.com/.

LUMINA GOLD CORP.

For further information contact:

Signed: “Marshall Koval”

Scott Hicks

shicks@luminagold.com

Marshall Koval, President & CEO, Director

T: +1 604 646 1890

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Company Name:	Odin Mining & Exploration Ltd
Stock Symbol:	LMGDF
Market:	OTC
Website:	luminagold.com

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Drill Hole Location Map

Drill Hole Location Map