Luminex Resources Corp. - LUMIF STOCK NEWS

Luminex Resources Corp. (LUMIF) announced positive drilling results from the Camp deposit of the Condor North project. Notable intercepts include:

• CC22-39: 5.2m at 14.61 g/t gold, 37.4 g/t silver (Au Eq 15.06 g/t)
• CC22-40: 5.0m at 8.92 g/t gold, 36.0 g/t silver (Au Eq 9.35 g/t)
• CC22-41: 9.8m at 3.40 g/t gold, 30.5 g/t silver (Au Eq 3.76 g/t)

The results suggest a thicker mineralization zone and potential resource additions. Drilling continues in the Camp deposit and nearby Cuyes West and Ruiz structures.

Luminex Resources Corp. (LUMIF) announced the discovery of a new gold-silver epithermal structure called the Ruiz structure at its Condor North project in Ecuador. Drilling hole CU22-05 revealed a significant intercept of 5 meters grading 29.43 g/t gold and 86.5 g/t silver, translating to a gold equivalent of 30.47 g/t. These results are the highest recorded at Condor North, which could enhance the mineral resource estimates. The company plans ongoing drilling to assess high-priority underground targets, aiming to develop a less capital-intensive project.

Luminex Resources Corp. has announced positive results from its recent drilling program at the high-grade Cuyes West gold and silver discovery in Ecuador. Notable findings include 4.0 metres of 7.7 g/t Au Eq from drill hole CU22-04 and 4.0 metres of 5.5 g/t Au Eq from CU22-03. Additionally, the company discovered a new mineralized structure, Ruiz, next to the existing Camp deposit. The current inferred resource at Camp is 6.0 Mt with 663,000 Au Eq oz. Future plans include further drilling at both Cuyes West and Ruiz structures.

Luminex Resources Corp. (LUMIF) announced updates on its Tarqui project following BHP's Phase 2 drilling program, revealing assays from seven out of ten holes. Key results include 0.32% copper equivalent over 218 meters from hole TARQ4D and 0.18% from TARQ10D. BHP, however, has opted not to continue its earn-in agreement and will transition operatorship back to Luminex by Q4 2022. The total drilling to date reaches 6,862 meters across thirteen holes, focusing on significant copper-molybdenum anomalies.

Luminex Resources Corp. has identified a promising copper-molybdenum porphyry target located 500 metres north of the El Hito prospect in Ecuador. Recent rock chip sampling shows a significant area where samples mostly exceed 0.4% copper, aligning with bornite and potassic alteration, indicating a high-grade core. A 1,500-meter drill program is set to begin next week, while ongoing drilling aims at high-grade underground targets at Condor North. Historic drilling revealed intervals with 0.58% copper over 172 meters, suggesting that higher-grade deposits could remain untested.

Luminex Resources Corp. (OTCQX: LUMIF) announced the resumption of drilling at the Condor North project in Ecuador, focusing on a new high-grade discovery adjacent to the Los Cuyes open pit resource. The initial phase consists of 1,500 meters across five holes to assess this discovery's extent. Following this, Luminex plans to drill 2,000 meters at the Camp resource area to enhance existing mineral resources. The company also anticipates further exploration at El Hito North and Prometedor, aiming to optimize its gold and copper targets.

Luminex Resources Corp. has entered a binding agreement with Codelco to acquire the Chalapo concessions in southern Ecuador for US$60,000 and a 1.0% NSR. The concessions cover 8,087 hectares and are adjacent to Luminex's existing projects. The Chalapo is an undrilled high sulphidation gold-silver prospect, with initial sampling showing promising rock chip values up to 1.78 g/t gold. Mapping and sampling to identify drill targets is scheduled for later this year, reflecting Luminex's strategic expansion in the region.

Luminex Resources Corp. (TSXV: LR, OTCQX: LUMIF) announced a significant discovery of high-grade gold and silver mineralization in an untested area near the Los Cuyes mineral resource. Drill hole CU21-01 intersected 17.6 metres grading 2.91 g/t gold and 15.23 g/t silver (3.09 g/t AuEq), with a standout 8.6 metres at 5.10 g/t gold and 24.85 g/t silver (5.39 g/t AuEq). This discovery may extend mine life and boost production rates. Follow-up drilling is planned to further explore this high-grade zone.

Luminex Resources Corp. has initiated a 2,500 metre drill program at the Orquideas project, in collaboration with JOGMEC. This program includes five drill holes targeting significant copper highs and chargeability anomalies identified through geological mapping. The prioritization of these targets is based on a combination of geological, geochemical, and geophysical data that suggests the presence of porphyry intrusions. The company's properties are primarily located in Ecuador, with ongoing co-development efforts with major mining companies.