VANCOUVER, BC--(Marketwired - March 21, 2017) - Lumina Gold Corp. (TSX VENTURE: LUM) (the "Company") is pleased to announce that it has initiated a 12,000m infill diamond drill program at its 100% owned Cangrejos Gold-Copper Project ("Cangrejos") in the El Oro Province of Southern Ecuador.
The 12,000m program is in addition to the prior 3,540m of drilling completed in 2015. The new drilling will infill a large part of the Inferred mineral resources and is anticipated to upgrade them to the Indicated mineral resources category. Necessary permits for drilling have been obtained and drill pads and access roads have been prepared. The current infill drilling program will consist of 35 holes and will be completed with a Hydrocore 2000 diamond drill rig that has been contracted from Hubbard Drilling, based in Cuenca, Ecuador.
About Lumina Gold
Lumina Gold Corp. (TSX VENTURE: LUM) is a Vancouver Canada based precious and base metals exploration and development company focused on gold and copper projects in Ecuador. The Company's Cangrejos Gold-Copper project is located in El Oro Province, SW Ecuador, and its Condor Gold-Copper project is located in Zamora-Chinchipe Province, SE Ecuador. The Company also holds a large and highly prospective land package in Ecuador consisting of 131,161 hectares. The Company has an experienced management team with a successful track record of advancing and monetizing exploration projects. Going forward, the Company intends to continue to identify, acquire and advance mineral exploration properties that have large scale potential.
Further details are available on the Company's website at https://luminagold.com/.
LUMINA GOLD CORP.
Marshall Koval, President & CEO, Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to the new drilling at Cangrejos being anticipated to infill a large part of the Inferred mineral resources and upgrade them to the Indicated mineral resources category, that it will consist of 35 holes, and that it will be completed with a Hydrocore 2000 diamond drill rig. Often, but not always, forward-looking statements or information can be identified by the use of words such as "will" or variations of that word and phrases or statements that certain actions, events or results "will" or are "anticipated to" be taken, occur or be achieved.
With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the prices of gold and copper, and anticipated costs and expenditures. The foregoing list of assumptions is not exhaustive.
Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time in the Company's continuous disclosure documents filed with Canadian securities administrators. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.