Lumina Copper Corp LCPRF

News

[elmothefearless]

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 7, 2011) - Lumina Copper Corp. (TSX VENTURE:LCC) (the "Company") is pleased to announce the results of four additional holes drilled as part of the ongoing drilling program at its 100% owned Taca Taca copper/gold/molybdenum deposit located in Salta province, Argentina. The results are highlighted by hole TTBJ10-04 that intersected 318 meters grading 0.66% copper, 0.19g/t gold and 0.03% molybdenum (0.95% copper equivalent(1)).
TTBJ10-04 was drilled from the same location as TTBJ10-01 but in a northeasterly direction, increasing the extent of known higher grade mineralization by 225 meters to the north. TTBJ10-05 was drilled 500 meters to the west of holes TTBJ10-01 and TTBJ10-04. TTBJ10-06 was drilled approximately 200 meters to the northwest of TTBJ10-05 and may define the boundary of mineralization in this direction. TTBJ10-07 was drilled approximately 200 meters to the southeast of TTBJ10-01 and the drill result suggests that mineralization may be thinning in this direction.
Details of the relevant intercepts from the latest four holes are shown in the table below. A map showing the location of the new results in relation to historical drilling is attached to this news release:
Hole No.

From

To

Interval

Cu

Au

Mo

CuEq(1)


Meters

Meters

meters

%

g/t

%

%
TTBJ10-04

300

618

318

0.66

0.19

0.030

0.95
including

524

550

26

1.00

0.17

0.062

1.47















TTBJ10-05

236

449

213

0.45

0.16

0.017

0.65
including

330

386

56

0.59

0.19

0.015

0.79















TTBJ10-06





no significant intercepts



















TTBJ10-07

318

380

62

0.30

0.07

0.022

0.48
(1) Copper equivalent calculated using US$2.00/lb Cu, US$800/oz Au and US$12.00/lb Mo and is not adjusted for metallurgical recoveries as these remain uncertain. The formula used is as follows: CuEQ = Cu% + (Au g/t x 0.583) + (Mo% x 6).
The drill program is focused on defining a higher grade zone within the known NI 43-101 compliant mineral resource estimate as well as expanding known mineralization to the north. To date 13 holes totalling 5,662 meters have been completed and two drill rigs are operating on the project with two additional drill rigs expected to be arriving over the next four to six weeks.
The Company is pleased to announce that Mr. Andrew Carstensen has been appointed Vice President, Exploration and will supervise all Taca Taca exploration activities.
The Taca Taca copper/gold/molybdenum project, comprising approximately 2,500 hectares, is located in the Puna region of north western Argentina in Salta Province, approximately 230 kilometres west of the provincial capital of Salta and 90 kilometres east of the world's largest copper mine, Escondida.
On October 9, 2008, the Company announced it had received an independent National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate for the project that at a 0.4% copper equivalent cutoff contained inferred mineral resources of 841 million tonnes grading 0.64% copper equivalent, containing 8.71 billion pounds of copper, 2.97 million ounces of gold and 333.70 million pounds of molybdenum(3). This mineral resource estimate does not incorporate or reflect the drilling results described above.
Additional information on Taca Taca, including the NI 43-101 technical report "Amended Taca Taca Technical Report" dated January 22, 2010 by Robert Sim, P.Geo., can be found on the Company's website (www.luminacopper.com) and on SEDAR (www.sedar.com).
Andrew Carstensen, CPG, Vice President, Exploration and the Qualified Person as defined by NI 43-101 for the Taca Taca project has reviewed and approved the content of this press release.