Luminex Resources Corp. (TSXV: LR) has received further strong drill results from four holes (CU23-19 to CU23-22) at Cuyes West in Ecuador.
The company previously announced widening hanging wall mineralization adjacent to Cuyes West which has expanded into a new breccia pipe with this added drilling yielding longer than 200m intervals of gold mineralization over 1g/t.
Step out drilling from this new breccia pipe and Cuyes West is ongoing, which will contribute towards updating the resource for Condor North to include all Cuyes West drilling by Q4 2023.
“We are extremely happy with the discovery of a coherent breccia zone containing substantial mineralization, that widens to widths of more than 200m. The area is completely open to depth and may have a significant positive impact on the project,” CEO, Marshall Koval, said.
Hole CU23-22 intersected multiple high-grade structures in the breccia pipe, notably 15.0m of 6.68g/t Au Eq, which included 3.0m from 316.0m grading 23.71g/t gold and 156.4g/t silver (25.59g/t Au Eq) and a wider intercept of 211.0m from 177m grading 1.01g/t gold and 12.9g/t silver (1.16g/t Au Eq).
CU23-20 intersected 20.0m grading 4.23g/t gold and 45.4g/t silver (4.78g/t Au Eq) from 264.0m in the breccia pipe, within a broader intercept of 211.0m from 134.0m grading 1.07g/t gold and 9.4g/t silver (1.18g/t Au Eq).
Hole CU23-21 intersected multiple high-grade intercepts, including 1.0m of 9.50g/t gold and 181.0g/t silver (11.67g/t Au Eq) from 285.0m, within a broader 96.0m of 0.95g/t gold and 15.6g/t silver (1.14g/t Au Eq) from 213.0m. This hole stepped out approximately 100m vertically on Cuyes West below hole CU22-14, which hit 16.0m of 3.04g/t gold and 12.5g/t silver (3.19g/t Au Eq) from 275.0m.
Hole CU23-21 is plotting at the fringe of the newly discovered breccia body along the Cuyes West structure. More step out drilling is required to fully define the extent of the new breccia body and to determine how this will impact the resource for this area.
The style of mineralization at Cuyes West is identical to that at the Camp deposit, 600m 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.
The new breccia pipe consists of a dacite porphyry-breccia; mineralization occurring mainly as crackle and mosaic style hydrothermal breccias with sulphide rich matrix and volcaniclastic clasts, that also contain mineralization.
Luminex is currently drilling CU23-26 and has drilled a total of 3,865m in 2023 at Cuyes West. Additionally, Luminex has finished five holes at Prometedor for a total of 824m and is awaiting assays. The second drill rig has been moved to the Esperanza gold-silver target, located approximately 500m south of Prometedor.
One drill hole is planned, targeting gold-silver mineralization in sulphides that occurs along the contacts of rhyolite dikes, in a setting very similar to the Camp deposit.
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