Lumina Copper Corp. (TSX VENTURE:LCC) has announced the results of three of the first four holes drilled as part of its 2010 drilling program at its 100% owned Taca Taca copper/molybdenum/gold deposit located in Salta province, Argentina.
The results are highlighted by hole TTBJ01-10 that intersected 244 meters grading 0.77% copper, 0.17g/t gold and 0.033% molybdenum (1.36% copper equivalent) including 102 meters grading 1.31% copper, 0.19 g/t gold and 0.038% molybdenum (1.99% copper equivalent).
These results, in conjunction with previous drilling completed by Rio Tinto in 2008, suggest that a previously unknown zone of higher grade mineralization may be emerging within the existing mineral resource. This zone is open to the north. To date, 3,353 meters of drilling has been completed with the drill rig currently drilling the fifth hole of the program. The drill program has yet to identify a deeper higher grade copper target.
Based upon these results, the Company has decided to significantly expand the drill program and to initiate comprehensive engineering and metallurgical studies on the project. The 2011 drill program will include 43,000 meters of drilling designed to fully evaluate the extent of the newly identified high grade zone. The metallurgical study will expand on the initial work completed in early 2010 while the engineering program will include a comprehensive mine plan, pit slope analysis, hydrogeological studies, process engineering and design as well as infrastructure layout, power, water supply and transportation studies. The drill program, metallurgy and engineering studies are expected to be completed by the end of 2011.
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 announced it had received an independent National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate for the project that at a 0.4% copper equivalent cut-off contained inferred mineral resources of 841 million tonnes grading 0.64% copper equivalent, containing 8.71 billion pounds of copper, 2.97 million ounces of gold and 333.70 million pounds of molybdenum.
Leo Hathaway, P.Geo., 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.
Source: Lumina Copper Corp.