Luminex Resources drills 14.47 g/t AuEq over 5 metres at Cuyes West, Ecuador

Luminex Resources Corp. [LR-TSXV; LUMIF-OTCQX] reported drill results from three holes (CU22-16 to CU23-18) at the Cuyes West structure, Ecuador. The latest results continue to delineate a zone of higher-grade gold mineralization within the Cuyes West structure that extends into the hanging wall to form a widening mineralization zone at depth. Holes CU23-17 and CU23-18 have intersected the Cuyes West hanging wall mineralization at depth in a fault bound package of rocks to the southwest of the main structure. Luminex is currently drilling hole CU23-22 at Cuyes West and the maiden hole at Prometedor, which commenced on February 24, 2023. Holes CU23-19 to CU23-21 are pending results.

Cuyes West Drilling Highlights: CU23-17 returned 27.0 metres grading 3.71 g/t AuEq (gold equivalent), including 5.0 metres grading 14.47 g/t AuEq. CU23-18 returned 3.0 metres grading 39.87 g/t AuEq and 31.0 metres grading 1.47 g/t AuEq.

Hole CU23-18 intersected multiple hanging wall high-grade structures, notably 3.0 metres from 128 metres grading 39.13 g/t gold and 61.67 g/t silver (39.87 g/t AuEq) and a wider intercept of 31 metres from 263 metres grading 1.31 g/t gold and 13.09 g/t silver (1.47 g/t AuEq). The Cuyes West structure was intersected from 325 metres over 8 metres grading 2.46 g/t gold and 19.7 g/t silver (2.69 g/t AuEq). The hole intercepted increasingly broader sections of mineralization at depth.

CU23-17 intersected 5.0 metres grading 12.40 g/t gold and 172.7 g/t silver (14.47 g/t AuEq) from 263.0 metres in the hanging wall package, within a broader intercept of 27.0 metres from 248.0 metres grading 3.15 g/t gold and 46.25 g/t silver (3.71 g/t AuEq).

The Cuyes West structure was intersected over 14.0 metres from 314.0 metres and graded 2.29 g/t gold and 9.4 g/t silver (2.40 g/t AuEq). This hole stepped out approximately 50 metres vertically on Cuyes West, below hole CU22-13, which intersected 6.0 metres grading 4.01 g/t gold and 10.9 g/t silver (4.14 g/t AuEq) from 267 metres within a broader mineralized intercept of 36.0 metres from 245 metres grading 2.17 g/t gold and 10.4 g/t silver (2.29 g/t AuEq).

These results are part of an increasingly broad zone of mineralization at depth comprising 165.0 metres of 1.40 g/t gold and 15.8 g/t silver (1.58 g/t AuEq) from 187.0 metres. Results from CU23-17 indicate that this broader zone is continuous and open to depth.

Hole CU22-16, stepped out approximately 105 metres west of CU22-05 and approximately 115 metres below hole CU22-10 and intersected only weak mineralization in the Cuyes West structure at 158 metres, which may indicate a pinching of the structure to the west and to depth. At a depth of 338.0 metres the hole intersected 1.0 metre grading 1.49 g/t gold, 651.0 g/t silver (9.30 g/t AuEq) in the Ruiz structure.

Other intervals are present in additional structures in holes CU22-16, CU23-17 and CU23-18.

The style of mineralization at Cuyes West and in the hanging wall package is identical to that at the Camp deposit, 600 metres to the west. At a property scale, these mineralized structures are interpreted to be hosted in ring and radial fractures around the Los Cuyes Diatreme.

Luminex Resources is focused on gold and copper projects in Ecuador. Its inferred and indicated mineral resources are located at the Condor Gold-Copper project in Zamora-Chinchipe Province, southeast Ecuador. Luminex also holds a large and highly prospective land package in Ecuador, including the Pegasus and Orquideas projects, which are being co-developed with Anglo American PLC [AAL-LSE] and JOGMEC respectively.

tsxv
lse
otcqx
gold
silver
copper
tsxv-lr
luminex-resources-corp
luminex resources corp