Lumina Copper Corp. (TSX VENTURE: LCC) (the "Company") is pleased
to announce the results of 6 new holes drilled as part of the
ongoing exploration and development program at its 100% owned Taca
Taca copper/gold/molybdenum deposit located in Salta province,
Argentina. The results are highlighted by holes TTBJ11-19, 20, 21
and 26 that intersected longer than expected (greater than 450
meters) intervals of higher grade copper mineralization suggesting
that mineralization at Taca Taca may extend deeper than previously
thought. Hole TTBJ11-26 intersected 578 meters grading 0.64%
copper, 0.16g/t gold and 0.02% molybdenum (0.85% copper
equivalent(1)) including 228 meters grading 0.82% copper, 0.21g/t
gold and 0.02% molybdenum (1.06% copper equivalent). Hole TTBJ11-19
intersected 611 meters grading 0.56% copper, 0.11g/t gold and 0.02%
molybdenum (0.74% copper equivalent).
Previous analysis of the assay results from the bottom of drill
holes completed to date suggested that mineralization may extend
deeper than that contained within the NI 43-101 compliant mineral
resource estimate that has an average thickness of 350 meters. The
drill program has been adjusted to drill to an average depth of 750
meters and the assay results from holes TTBJ11-19, 20, 21 and 26
show that mineralization does extend significantly deeper at Taca
Taca. Further, the results from holes TTBJ11-19 and 21 suggest that
mineralization may extend even deeper in certain areas. Hole
TTBJ11-21 ended at a depth of 735 meters, with the bottom 71 meters
averaging 1.18% copper, 0.16g/t gold and 0.02% molybdenum (1.39%
copper equivalent) while TTBJ11-19 ended at a depth of 893 meters
in 0.4% copper mineralization.
In 1999, Rio Tinto conducted a small drill program at Taca Taca
to evaluate the oxide mineralization potential of the leach cap
overlying the known mineral resources. That program intersected
areas of oxide gold and copper mineralization with average grades
up to 0.5 g/t gold and 0.5% copper over intervals up to 60 meters
thick. The current drill program has started to systematically
assay material from the leach cap and the initial results suggest
that additional zones of oxide copper and gold may be present as
highlighted in Hole TTBJ11-22 that intersected 141 meters grading
0.4 g/t gold.
Details of the relevant intercepts from the latest 6 holes are
shown in the table below. A map showing the location of the new
results in relation to historical drilling and the boundary of the
current NI 43-101 mineral resource estimate at 0.4% and 0.6% copper
equivalent cut off grades is attached to this news release:
---------------------------------------------------------------------------
From To Interval Cu Au Mo CuEq(1)
Hole No. Meters Meters meters % g/t % %
---------------------------------------------------------------------------
TTBJ11-19 0 66 66 0.27
---------------------------------------------------------------------------
and 282 893 611 0.56 0.11 0.02 0.74
---------------------------------------------------------------------------
including 282 470 188 0.60 0.19 0.03 0.89
---------------------------------------------------------------------------
Significance: Confirms continuity and increases grade of higher grade zone.
Extends mineralization approximately 280 meters below existing NI 43-101
mineral resources in immediate area. Hole ended in 0.4% copper
mineralization.
---------------------------------------------------------------------------
TTBJ11-20 14 48 30 0.32
---------------------------------------------------------------------------
and 48 81 33 0.25
---------------------------------------------------------------------------
and 270 760 490 0.59 0.14 0.02 0.79
---------------------------------------------------------------------------
including 270 362 92 0.73 0.17 0.03 1.01
---------------------------------------------------------------------------
including 648 760 112 0.73 0.15 0.03 0.94
---------------------------------------------------------------------------
Significance: Confirms continuity and increases grade of higher grade zone.
Extends mineralization approximately 240 meters below existing NI 43-101
mineral resources in immediate area.
---------------------------------------------------------------------------
TTBJ11-21 272 735 463 0.89 0.18 0.02 1.11
---------------------------------------------------------------------------
including 272 554 282 0.98 0.23 0.02 1.23
---------------------------------------------------------------------------
including 664 735 71 1.18 0.16 0.02 1.39
---------------------------------------------------------------------------
Significance: Confirms continuity and increases grade of higher grade zone.
Hole terminated in 0.87% copper. Extends mineralization approximately 200
meters below existing NI 43-101 mineral resources in immediate area.
---------------------------------------------------------------------------
TTBJ11-22 15 156 141 0.40
---------------------------------------------------------------------------
and 274 304 30 0.50
---------------------------------------------------------------------------
and 304 440 136 0.44 0.23 0.03 0.75
---------------------------------------------------------------------------
Significance: Confirms continuity of higher grade zone.
---------------------------------------------------------------------------
TTBJ11-23 249 585 336 0.25 0.10 0.01 0.37
---------------------------------------------------------------------------
including 252 292 40 0.51 0.17 0.01 0.67
---------------------------------------------------------------------------
including 380 394 14 0.43 0.22 0.03 0.74
---------------------------------------------------------------------------
Significance: Long intercept of low grade copper mineralization below
cutoff grade for current NI 43-101 mineral resource estimate.
---------------------------------------------------------------------------
TTBJ11-24 Assay results pending.
---------------------------------------------------------------------------
TTBJ11-25 Assay results pending.
---------------------------------------------------------------------------
TTBJ11-26 190 768 578 0.64 0.16 0.02 0.85
---------------------------------------------------------------------------
including 190 418 228 0.82 0.21 0.02 1.06
---------------------------------------------------------------------------
Significance: Extends and confirms higher grade mineralization 150m to the
north. Extends mineralization approximately 240 meters below existing NI
43-101 mineral resources in the immediate area.
---------------------------------------------------------------------------
(1) Copper equivalent calculated using US$2.00/lb Cu, US$800/oz Au and
US$12.00/lb Mo and is not adjusted for metallurgical recoveries as these
remain uncertain. The formula used is as follows: CuEQ = Cu% + (Au g/t x
0.583) + (Mo% x 6).
The drill program is focused on defining a higher grade zone
within the known NI 43-101 compliant mineral resource estimate as
well as expanding known mineralization at depth and to the north.
To date, 38 core holes totalling 21,373 meters and 15 reverse
circulation holes totalling 2,366 meters have been completed and 4
drill rigs are currently operating on the project (3 core and one
RC). Two additional core drills and one RC are expected to arrive
Taca Taca in August. The RC rigs are being used to pre-collar core
holes to expedite the program. RC drilling will also be used in
exploring and delineating the gold and copper zones known to exist
in the leach cap of the Taca Taca porphyry system.
The Taca Taca copper/gold/molybdenum project, comprising
approximately 2,500 hectares, is located in the Puna region of
north western Argentina in Salta Province, approximately 230
kilometres west of the provincial capital of Salta and 90
kilometres east of the world's largest copper mine, Escondida.
On October 9, 2008, the Company released an independent National
Instrument 43-101 ("NI 43-101") compliant mineral resource estimate
for the project that at a 0.4% copper equivalent cutoff contained
inferred mineral resources of 841 million tonnes grading 0.47%
copper, 0.11g/t gold and 0.018% molybdenum (0.64% copper
equivalent(2)), containing 8.71 billion pounds of copper, 2.97
million ounces of gold and 333.70 million pounds of molybdenum.
This mineral resource estimate does not incorporate or reflect the
drilling results described above.
Additional information on Taca Taca, including the NI 43-101
technical report "Amended Taca Taca Technical Report" dated January
22, 2010 by Robert Sim, P.Geo., can be found on the Company's
website (www.luminacopper.com) and on SEDAR (www.sedar.com).
Andrew Carstensen, CPG, Vice President, Exploration and the
Qualified Person as defined by NI 43-101 for the Taca Taca project
has reviewed and approved the content of this press release.
(2) The copper equivalent cut off grade used in the calculation
of the mineral resource estimate was determined using US$1.50 / lb
copper, US$600 / oz gold and US$9.00 / lb molybdenum and was not
adjusted for metallurgical recoveries as these remain uncertain.
The formula used in the calculation was as follows: CuEQ = Cu% +
(Au g/t x 0.583) + (Mo% x 6).
LUMINA COPPER CORP.
David Strang, President & CEO
CAUTION REGARDING FORWARD LOOKING STATEMENTS: This news release
contains "forward-looking statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and
applicable Canadian securities legislation. Forward-looking
statements include, but are not limited to, statements with respect
to the future price of gold, copper and molybdenum, the timing of
exploration activities, the estimation of mineral reserves and
mineral resources, the results of drilling, estimated future
capital and operating costs, future stripping ratios, projected
mineral recovery rates and Lumina Copper's commitment to, and plans
for developing any of its projects. Generally, these
forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "can", "could", "would",
"might" or "will be taken", "occur" or "be achieved".
Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of Lumina Copper to
be materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks
related to the exploration and potential development of the
Company's projects, risks related to international operations, the
actual results of current exploration activities, conclusions of
economic evaluations, changes in project parameters as plans
continue to be refined, future prices of gold, copper and
molybdenum, as well as those factors discussed in the sections
relating to risk factors of our business filed in Lumina Copper's
required securities filings on SEDAR. Although Lumina Copper has
attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results to be materially different from those anticipated,
described, estimated, assessed or intended. There can be no
assurance that any forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. Lumina Copper does not undertake to update any
forward-looking statements that are incorporated by reference
herein, except in accordance with applicable securities laws.
To view the map associated with this Press Release, please
visit: http://media3.marketwire.com/docs/lcc-0809-map.pdf.
Contacts: Lumina Copper Corp. David Strang President & CEO +
604 646-1880 + 604 687-7041 (FAX) dstrang@luminacopper.com
www.luminacopper.com
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