Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.


Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?


Please Try Again {{ error }}

Send my password

An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Luminex Resources Corp. V.LR

Alternate Symbol(s):  LUMIF

Luminex Resources Corp. is a Canada-based precious and base metals exploration and development company with a focus on gold and copper projects in Ecuador. The Company’s mineral exploration projects include Condor, Cascas, Pegasus, Tarqui, Orquideas and Other concessions. Condor Project has approximately nine concessions located in the Zamora-Chinchipe Province in southeast Ecuador. Cascas Project consists of two concession areas totaling 10,000 hectares located over 25 kilometers (km) southwest of the Condor project. Its Pegasus A1-7, Pegasus B8-14 and Luz concessions are an early-stage gold project comprising 66,250 hectares and are located approximately 150 km southwest of Quito. The Tarqui Project, consisting of two concession areas totaling 4,817 hectares located on trend with the Condor project. Its Other concession projects include Tres Picachos, La Canela, Orquideas and Quimi. Tres Picachos and La Canela, which are located approximately 100 km southwest of the Condor Project.

TSXV:LR - Post by User

User Avatar Image
  • Ebenizer3X
Post by Ebenizer3on Jun 07, 2023 9:07am
Post# 35484068

News May 18...

News May 18...Cuyes West Drilling Highlights:
CU23-25 – 203.0 metres grading 1.48 g/t Au Eq, including 33.0 metres grading 5.41 g/t Au Eq
33.0 metres within the newly discovered breccia pipe, adjacent to the Cuyes West structure
Cuyes West interval within CU23-25 was 5.0 metres of 3.07 g/t Au Eq
CU23-26 – 1.0 metre grading 118.44 g/t Au Eq; the highest-grade assay ever at Cuyes
VANCOUVER, BC, May 18, 2023 /PRNewswire/ - Luminex Resources Corp. (TSXV: LR) (OTCQX: LUMIF) (the "Company" or "Luminex") is pleased to announce drill results from four holes (CU23-23 to CU23-26) that targeted the Cuyes West structure, with hole CU23-25 also intersecting a new breccia pipe discovery underneath the existing Cuyes open pit mineral resource. The Company is now allocating more drill holes to the breccia pipe that has been displaying long mineralized intercepts, with grades increasing as Luminex drills deeper.
Hole CU23-25 intersected multiple high-grade structures in the breccia pipe, notably 3.0 metres from 223.0 metres grading 17.47 g/t gold and 46.4 g/t silver (18.02 g/t Au Eq), within a wider intercept of 203.0 metres from 134.0 metres, which graded 1.38 g/t gold and 8.4 g/t silver (1.48 g/t Au Eq).
The highest-grade drill core ever assayed at the Cuyes deposit was just intercepted in CU23-26, a 1.0 metre interval grading 115.80 g/t gold and 220.1 g/t silver (118.44 g/t Au Eq) from 290.0 metres in a structurally controlled vein. This sample is part of a broader intercept of 5.0 metres from 286.0 metres grading 24.44 g/t gold and 62.8 g/t silver (25.19 g/t Au Eq).
Hole CU23-24 intersected multiple high-grade intercepts, including 2.3 metres returning 23.14 g/t gold and 115.2 g/t silver (24.53 g/t Au Eq) from 457.4 metres, within a broader 11.7 metre zone of 5.02 g/t gold and 32.2 g/t silver (5.41 g/t Au Eq) from 449.0 metres. This hole stepped out approximately 75 metres laterally on the Cuyes West structure west of hole CU22-05, which cut 5.0 meters grading 29.43 g/t gold and 86.5 g/t silver (30.47 g/t Au Eq) from 277.0 metres. Hole CU23-23, also a step out of hole CU22-05 approximately 75 metres to the east, intersected 1.0 metres from 223.0 metres of 9.23 g/t gold and 13.2 g/t silver (9.39 g/t Au Eq).
Other high-grade intervals are present in additional structures in holes CU23-23, CU23-24, CU23-25 and CU23-26 and are detailed in Table 1.
The style of mineralization at the Cuyes West structure is identical to that at the Camp deposit, 600 metres to the west. At a property scale, these mineralized structures are interpreted to be hosted in ring and radial fractures around the Los Cuyes caldera (See Figure 1).
The newly discovered breccia pipe is hosted primarily within caldera-fill pyroclastic and volcanoclastic rocks and is flanked to the north and south by dacite porphyries that appear to focus the mineralization in the breccia pipe. The pipe was a blind discovery and comes within 100 meters of surface, but does not outcrop. Mineralization within the breccia pipe occurs mainly within hydrothermal crackle-veinlet breccias with minor shatter breccias, as well as patches, veinlets and replacements. While the geological model is evolving and more drilling is required, the Cuyes deposit may contain a higher-grade breccia pipe, similar to the Kelian deposit in Indonesia or the Rosia Montana deposit in Romania.
<< Previous
Bullboard Posts
Next >>