. Recent rock chip samples from historic mine workings at Nayumbi returned high gold and silver grades, up to 80.5 g/t gold and 14.4 g/t silver.
Since the initial sampling, the area has been geologically mapped and a soil sample grid of 193 samples collected by Luminex and 989 legacy samples taken by a previous operator, for a total 1,182 samples, has outlined a 3.5km long, irregular gold anomaly oriented in a north-northwest to south-southeast direction when contoured at 0.1 g/t gold.
Contained within the soil anomaly and lying on the structure defined by the ZTEM survey, geological mapping has delineated a northeast pointing wedge-shaped hydrothermal breccia in sandstone approximately 170m long and 130m wide at the southwest end .
Geologically and geochemically Nayumbi can be characterized as a low sulfidation epithermal gold-silver prospect that is interpreted to have formed in permeable breccias and sandstones, around a feeder structure that channeled mineralizing fluids from depth.
The geological setting of Nayumbi as well as its surface geochemical and geophysical signature are very similar to one of the world’s highest grade gold mines, Lundin Gold’s Fruta del Norte mine, which hosts resources of 7.4 Moz gold, Indicated resources at 9.61 g/t gold and 12.9 g/t silver and 2.1 Moz gold in Inferred resources at 5.69 g/t gold and 10.8 g/t silver.
Leo Hathaway, P.
Luminex also holds a large and highly prospective land package in Ecuador, including the Tarqui and Pegasus projects, which are being co-developed with BHP Group plc and Anglo American respectively.
Often, but not always, forward-looking statements or information can be identified by the use of phrases or statements that certain actions, events or results “will” 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.
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 ; and other risk factors as detailed from time to time in the Company’s continuous disclosure documents filed with Canadian securities administrators.