Lumina Copper Corp LCPRF

News

[elmothefearless]

Good news. While the intercepts are not out of this world (~0.70% CuEq), the length of the intercepts is significant. This has the potential to exponentially increase the size of the deposit.
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https://www.marketwatch.com/story/lumina-intersects-578-meters-grading-085-copper-equivalent-at-taca-taca-copper-gold-molybdenum-project-argentina-2011-08-09-831380?reflink=MW_news_stmp
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VANCOUVER, BRITISH COLUMBIA, Aug 09, 2011 (MARKETWIRE via COMTEX) -- Lumina Copper Corp.CA:LCC+5.09% (the "Company") is pleased to announce the results of 6 new holes drilled as part of the ongoing exploration and development program at its 100% owned Taca Taca copper/gold/molybdenum deposit located in Salta province, Argentina. The results are highlighted by holes TTBJ11-19, 20, 21 and 26 that intersected longer than expected (greater than 450 meters) intervals of higher grade copper mineralization suggesting that mineralization at Taca Taca may extend deeper than previously thought. Hole TTBJ11-26 intersected 578 meters grading 0.64% copper, 0.16g/t gold and 0.02% molybdenum (0.85% copper equivalent(1)) including 228 meters grading 0.82% copper, 0.21g/t gold and 0.02% molybdenum (1.06% copper equivalent). Hole TTBJ11-19 intersected 611 meters grading 0.56% copper, 0.11g/t gold and 0.02% molybdenum (0.74% copper equivalent).
Previous analysis of the assay results from the bottom of drill holes completed to date suggested that mineralization may extend deeper than that contained within the NI 43-101 compliant mineral resource estimate that has an average thickness of 350 meters. The drill program has been adjusted to drill to an average depth of 750 meters and the assay results from holes TTBJ11-19, 20, 21 and 26 show that mineralization does extend significantly deeper at Taca Taca. Further, the results from holes TTBJ11-19 and 21 suggest that mineralization may extend even deeper in certain areas. Hole TTBJ11-21 ended at a depth of 735 meters, with the bottom 71 meters averaging 1.18% copper, 0.16g/t gold and 0.02% molybdenum (1.39% copper equivalent) while TTBJ11-19 ended at a depth of 893 meters in 0.4% copper mineralization.
In 1999, Rio Tinto conducted a small drill program at Taca Taca to evaluate the oxide mineralization potential of the leach cap overlying the known mineral resources. That program intersected areas of oxide gold and copper mineralization with average grades up to 0.5 g/t gold and 0.5% copper over intervals up to 60 meters thick. The current drill program has started to systematically assay material from the leach cap and the initial results suggest that additional zones of oxide copper and gold may be present as highlighted in Hole TTBJ11-22 that intersected 141 meters grading 0.4 g/t gold.