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Lumina expands Gran Bestia ahead of resource update

Lumina Gold has expanded the mineralised zone at its Gran Bestia gold-copper deposit in Ecuador as it works towards producing an updated mineral resource estimate.
Lumina expands Gran Bestia ahead of resource update Lumina expands Gran Bestia ahead of resource update Lumina expands Gran Bestia ahead of resource update Lumina expands Gran Bestia ahead of resource update Lumina expands Gran Bestia ahead of resource update

Cangrejos in Ecuador

The company reported the last eight holes of its 2018 and 2019 drilling programme for 3,900m, which included step-out drilling to the northwest. Highlights included 537m grading 0.56 grams per tonne gold and 0.10% copper.

"We are extremely excited by the continuity of mineralisation found during the Gran Bestia ridgeline drilling. These results will add a substantial amount of mineralized material to the project when we complete the maiden Gran Bestia resource estimate. Gran Bestia will complement the already large-scale Cangrejos deposit and should provide mine life extension and mine plan flexibility when we look to update the project's economic study in 2020," said president and CEO Marshall Koval.

Cangrejos currently has an inferred mineral resource of 8.5 million ounces gold and 1 billion pounds copper.

This drilling programme has produced some significant drill hits including 444m grading 1.18g/t gold and 0.09% copper at Cangrejos and 194m grading 1.24g/t gold and 0.1% copper at Gran Bestia.

Shares in Lumina Gold are trading at C57c, valuing the company at $177 million.