VANCOUVER, BC--(Marketwired - April 19, 2017) - Lumina Gold Corp. (TSX VENTURE: LUM) (the "Company" or "Lumina") is pleased to announce that it has been granted 13 new concessions by the Ecuadorian Ministry of Mining, covering 40,647 hectares. These concessions, which are spread throughout the country, are in addition to the ones that were announced on November 16, 2016 and December 22, 2016. The new concessions, which were awarded through the Government's auction process, consolidate Lumina's position along trend with its existing Condor project, Lundin Gold's Fruta del Norte project and Tongling's Mirador project. Concessions on the prolific northwest oriented Apuela Batholith, close to world class discoveries such as Codelco's Llurimagua and SolGold's Cascabel, are expected to add additional value to Lumina's prospective portfolio. The following table, map and descriptions outline Lumina's new and previously existing concessions in Ecuador.
Lumina has commenced extensive geological mapping, soil and stream sediment sampling to focus the Company's efforts on the mineralized areas of these new concessions. This work will enable Lumina to identify high-priority drill targets in addition to the current 12,000 meters of infill drilling that is ongoing at Cangrejos.
Diego Benalcazar, Lumina's in-country Senior Vice President, commented: "The concessions Lumina has added since November have made it the second largest concession holder in Ecuador, and one of the leading gold explorers in the region. Our technical team of 15 geologists has already commenced work across this portfolio of highly prospective concessions."
Countrywide Concession Summary:
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Area Name Number of Concessions Hectares Province
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Key Projects
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Cangrejos (including
Cangrejos 20) 6 6,374 El Oro
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Condor 7 8,269 Zamora-Chinchipe
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Previously Announced Concessions - Nov 16, 2016 and Dec 22, 2016 Press
Releases
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Pegasus A / Pegasus B 14 66,525 Cotopaxi & Bolivar
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Tres Picachos 1 4,828 Zamora-Chinchipe
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Orquideas 1 4,743 Zamora-Chinchipe
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La Canela 1 3,187 Zamora-Chinchipe
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New Concessions Added
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Palma Real (1) 4 19,775 Esmeraldas
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Cascas (1) 2 9,998 Zamora-Chinchipe
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Tarqui (1) 2 4,817 Morona-Santiago
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Quimi (1) 2 2,731 Morona-Santiago
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Yawi 1 1,494 Zamora-Chinchipe
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Escondida 1 1,204 Zamora-Chinchipe
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Santa Elena (1) 1 628 Zamora-Chinchipe
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Total 43 134,573
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Santa Elena (628 hectares)
Santa Elena is located along strike with the regionally significant Las Peñas Fault Zone, which forms the principal structural control for the Fruta del Norte epithermal gold-silver deposit. Similar cover rocks, particularly the Misahualli Formation, as well as an elaborate and local gold mineralized fault zone have also been detected. TVX defined a greater than one kilometer long gold anomaly in 1998, the scale and tenor of which has been confirmed by first quarter 2017 field work with pan concentrate sampling. Concentrates, derived from stream sediments and fault rocks, reveal up to 120 coarse, angular gold particles per pan.
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, southwest Ecuador, and its Condor Gold-Copper project is located in Zamora-Chinchipe Province, southeast Ecuador. The Company also holds a large and highly prospective land package in Ecuador consisting of 134,573 hectares. The Company has an experienced management team with a successful track record of advancing and monetizing exploration projects. Lumina 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.
Signed: "Marshall Koval"
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 conducting extensive geological mapping, soil and stream sediment sampling on the concessions. 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 "intended 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.
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For further information contact:
Scott Hicks
shicks@luminagold.com
T: +1 604 646 1890
