공시 • Feb 10
Luminex Resources Corp. Announces Update on Activities at Condor Project
Luminex Resources Corp. announced an update on activities at the Condor project. The below is a summary of recent activities and eight potential exploration drill target areas that merit additional geological work and drilling. Luminex is awaiting assays from the recent drill holes at Cuyes West and Camp Northwest. Post receiving those results, the Company plans to assess and rank the eight target areas. This ranking will dictate future drill activity at Condor. In the interim, the Condor-based drill rig has been mobilized to Orquideas to begin drilling, pursuant to the recently announced earn-in agreement with JOGMEC. Condor is a District Scale Property: The Condor project covers 10,101 hectares of mineral claims and contains a 15km trend of almost continuous gold and copper mineralization. This exceptional trend of mineralization is derived from a series of epithermal and deeper systems driven by a north-south trend of Jurassic-aged porphyry copper/molybdenum/gold intrusions. Faulting has exposed these systems at different levels of erosion leading to the different mineralization styles, from high-level epithermal (Condor North and Nayumbi) to porphyry (Santa Barbara, El Hito and Wanwintza Alta), encountered along the trend. Target areas #1 to #3 below are all proximal to the deposits that form the Condor North PEA. They are all targeting extensions or step-outs to current mineral resource estimates and would likely benefit any future economic studies of Condor North if drilling was successful. Target Area #1 – Camp Deposit Northwest Extension: Surface sampling and mapping may have identified a northwest extension to the Camp deposit. This work has defined rhyolite dikes with highly altered, brecciated and veined margins with abundant pyrite dominant sulphide mineralization, a style identical to the Camp deposit. Rock chip sampling has returned up to 4 g/t Au and up to 108 g/t Ag from surface. Luminex has completed a single diamond drill hole, CC21-38, to a planned depth of approximately 300m, to determine whether the Camp deposit does indeed extend to the northwest. Target Area #2 – Los Cuyes West Drilling: At the end of 2021, Luminex drilled a low angle (-25 degrees) drill hole targeting high grade mineralization, the upper part of which has been the subject of relatively shallow artisanal mining to the immediate west of the Los Cuyes resource, shown in Figure 3. Results of this 440m diamond drill hole are pending. Target Area #3 – Camp Deposit Vertical and Lateral Step-out Holes: In addition to the Northwest extension, the Camp deposit mineralization remains open laterally and at depth, with indications that grade and mineralized widths increase to depth. Luminex is currently investigating stepping out laterally and to depth in order to increase the Camp deposit mineral resource estimate. Target Area #4 – New Porphyry Copper-Gold-Molybdenum Discovery at Wanwintza Alta: Recent fieldwork at Wanwintza Alta (formerly Silica Cap) has discovered the upper parts of a porphyry copper-gold-molybdenum system in outcrop, which could be a northern extension to El Hito. See Figure 1 for the location of Wanwintza Alta and Figure 6 for a plan map and copper outcrop photos. Sample results from these outcrops are pending. Other rock chip sampling in the area returned values up to 0.42% copper and 2.21 g/t gold. Located 1 km to the south of Wanwintza Alta, El Hito occurs in a granodiorite porphyry hosted in the Zamora batholith. Drilling, trenching and surface mapping have defined copper-gold mineralization occurring over 2.5 km (north-south) by 1.0 km (east-west), and extending to vertical depths of at least 600m. Moderate to strong phyllic-argillic alteration overprints early potassic alteration and sulphide minerals in drill core are chalcopyrite, pyrite and bornite. Previous operators drilled 4,687m in nine holes, returning intercepts such as 0.44% Cu and 53ppm Mo over 332m from surface. Recent mapping and sampling indicate that the copper-molybdenum mineralization defined by drilling at El Hito is open to the north and south. To the north, mineralization appears to extend towards the new Wanwintza Alta porphyry copper-gold discovery, and the two areas may in fact connect to form one deposit. A soil sampling and prospecting program is being executed over this 1 km connector zone, with sample stations at 50m on 200m spaced east-west oriented lines, with 900 samples planned in total. Target Area #5 – Los Cuyes Deep Porphyry Target: The Los Cuyes resource is largely hosted by an explosive diatreme breccia, formed by venting gases and boiling water, which is often associated with a deeper porphyry system. In 2021, Luminex commissioned a study of drill core samples with the Natural History Museum in London, UK. This study used key trace elements in chlorite and epidote to help plan a deep drill hole, which would test for such a porphyry target. Currently, the Company is undertaking selective re-logging of existing drill core from the deeper levels of Los Cuyes. Target Area #6 – Prometedor Update: Luminex has built 2,700m of access trails to enable exploration in the area. Geologists continue surface work at Prometedor and sampling and mapping has identified different gold and copper dominant areas. Recent work at Prometedor has focused on outcrops in a creek bed where epithermal veining and anomalous rock chip samples returning up to 38.97g/t Au have been outlined. Efforts continue towards defining drill targets. Target Area #7 – Santa Barbara: The Santa Barbara mineral resource estimate lies on the western edge of a circular high resistivity anomaly. In 2018, Luminex drilled the eastern side of this anomaly with holes DSB18-50 and DSB18-52. Hole DSB18-50 returned 180m from 12m down the hole grading 0.29g/t Au and 0.11% Cu, including 38m from 146m down the hole grading 0.59g/t Au and 0.17% Cu. Hole DSB18 -52 returned 89m from 66m down the hole from 12m down the hole grading 0.25g/t Au and 0.08% Cu, including 53m from 102m down the hole grading 0.34g/t Au and 0.11% Cu. These holes were not followed up on and represent an opportunity to explore this underexplored area of Santa Barbara. The concentration of drill holes on the western side of the anomaly is the location of the stated mineral resource at Santa Barbara. The red circles indicate the drill holes to be followed up on. Target Area #8 – Nayumbi: Luminex has received results from six of the seven holes drilled at Nayumbi. While the results demonstrate the expected pathfinder minerals and the presence of a low sulphidation system, there were only trace levels of gold and silver contained in the assays. Generally low levels of sulphide mineralization in hole seven indicate that it is also unlikely to produce material levels of gold or silver. The Company believes there is a source deposit generating the anomalous gold grades at surface and may pursue addiitonal work to attempt to locate it.