Geo, Senior Vice President Exploration of Luminex and the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed, verified and approved the scientific and technical information in this news release and has verified the data underlying that scientific and technical information. Significant intervals from holes SK21-01 through SK21-03. The Company expects to receive results from the remaining two drill holes in July.
UPDATE CONDOR 2 SERIES
The porphyry intrusive is interpreted to be dissected into wedges by a series of northwest to north-northwest trending fault overlaps that dip to the southwest (Figure 2). The results are consistent with geological observations of disseminated sulphides hosted within porphyritic granodiorites and leucogranites that are pervasively altered with potassic, propylitic and phyllic alteration. It is notable that the 0.22% Cu Eq interval reported for hole SK21-03 remains open to depth. Results, shown in Table 1 below, reveal long intercepts of low-grade copper-molybdenum mineralization. The first three holes were drilled on the eastern half of the target area as shown in Figure 2. Shakai Target: The Company has received assay results from the first three holes of the five-hole, 2,017 metre program at the Shakai porphyry copper-molybdenum target, located within the Cascas claim block. The Company expects to announce results in July. The mineralization style reflects the mineralization style encountered at Camp, that hosts an underground Inferred resource of 1,126 koz AuEq at an average grade of 2.95 g/t AuEq, calculated at a cut-off grade of 1.50 g/t AuEq see news release dated Mafor details.Ĭondor Preliminary Economic Assessment: The Condor North study that will include Camp, Los Cuyes, Soledad and Enma is near completion. Mapping has revealed swarms of rhyolite dikes cutting metamorphic and volcanic host rocks, with rock chip sampling returning results of up 3.75 g/t Au. Prometedor Target: Surface mapping and sampling of the area to the southeast of Los Cuyes and Camp, extending to Prometedor is continuing, with the objective of defining targets for drill testing. The initial drill hole, currently underway, is designed to test hydrothermal breccias with sandstone clasts that occur with a latticework of narrow feldspar porphyry dikes, that coincide with rock chip samples grading up to 62.90 g/t gold. Surface geology, geochemistry and geophysical modeling in three dimensions point to strong similarities to the Fruta del Norte gold deposit, located 45 kilometres north-northeast in the same mineral belt, as described in the company's news release dated (see Figure 1). Nayumbi Target: Luminex has begun drilling the first hole of a programmed 2,000-metre drill program designed to test the depth extent of the high-grade, low sulphidation gold system identified at surface.