Lumina reports 626m intercept from surface at Gran Bestia
Two-time Vale president Eliezer Batista dies
Leadership
Look beyond market approach to project valuations: van Zyl
Leadership
Alkane maps own path to world-class critical metals producer
SPONSOREDalkane resources
Global Atomic's 'transformational discovery' changes everything
SPONSOREDglobal atomic corp
It hit 626m at 0.62g/t gold and 0.11% copper from surface at Gran Bestia, which lies 1km northwest of its large-scale Cangrejos deposit.
"The hole ended in mineralisation and leaves the Gran Bestia deposit open to the north for expansion and further discovery," Lumina said.
Two-time Vale president Eliezer Batista dies
Leadership
Look beyond market approach to project valuations: van Zyl
Leadership
Alkane maps own path to world-class critical metals producer
SPONSOREDalkane resources
Global Atomic's 'transformational discovery' changes everything
SPONSOREDglobal atomic corp
The highlight was among the latest results from an ongoing infill, step-out and depth extension programme at the Ecuador project.
The Ross Beaty-backed company believes Gran Bestia could substantially increase the scale of Cangrejos, which has an inferred 8.5 million ounces of gold and 1 billion pounds of copper.
A resource update is planned for the second half of this year.
A June 2018 preliminary economic assessment for Cangrejos outlined initial capex of US$831 million, average annual production of 373,000oz of gold and 43Mlb copper over a 16-year mine life, at all-in sustaining costs of $741/oz gold-equivalent.
The company is focused on Cangrejos after spinning out its other exploration projects into Luminex Resources, which listed on the TSX Venture Exchange in September.
Lumina had $14.5 million cash at the end of December, having raised C$20 million (US$15 million) at 56c per share in November..
Its shares, which have ranged from 85c last April to 46c in November, last traded at 59c.
At that price it is capitalised about $183 million.