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Re: News Release - Wednesday, April 07, 2010
Lumina Copper Initiates Comprehensive Exploration Program at Taca
Taca Copper/Gold/Molybdenum Project
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Vancouver, British Columbia - Lumina Copper Corp. (the "Company") is
pleased to announce that it will begin a comprehensive exploration
program at its 100% owned Taca Taca copper/molybdenum/gold deposit
located in Salta province, Argentina in early May 2010. The program
will begin with a deep ground penetrating geophysical survey followed
by a diamond drilling program.
During the past six months, the Company has completed a strategic
review to determine the appropriate development route for Taca Taca.
This review included a number of mine planning studies that evaluated
both open pit and underground mine development scenarios. The results
of the review showed that significant additional value can be added in
three areas:
1. expanding open pit mineable resources laterally where an area of
higher grade mineralization remains open to the northeast;
2. expanding the high-grade copper, underground bulk-mineable zone
identified by Rio Tinto's 2008 drill program to depth; and
3. exploring an area to the south of the existing mineral resource
that mirrors the surface expression of the drill-confirmed
high-grade copper zone outlined by the Rio Tinto drill program.
The planned exploration program will include the use of
Quantec Geoscience's proprietary Titan24 Deep Earth Imaging System
which has been used successfully to identify buried copper porphyry
bodies. The Titan24 survey at Taca Taca will comprise approximately 30
line kilometres of survey work and will be used to evaluate the extent
of the underground bulk mineable zone identified by Rio Tinto, to test
the target area to the south of the existing mineral resource and to
identify new drill targets.
The drill program will start upon completion of the Titan24 survey.
The program, comprising one drill rig capable of drilling to depths in
excess of 1.2 kilometres, will focus on expanding the known zone of
higher grade copper mineralization to the northeast followed by
drilling the targets identified by the Titan24 survey. The program is
expected to last between 4 and 6 months but will be expanded should the
Titan24 survey identify additional prospective targets.
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
cutoff 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.
Additional information on Taca Taca, including the NI 43-101 technical
report "Amended Taca Taca Technical Report" dated January 22, 2010 by
Robert Sim, P.Geo., can be found on the Company's website
(www.luminacopper.com) and on SEDAR (www.sedar.com).
Leo Hathaway, P.Geo., Vice President, Exploration for the Company 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.
LUMINA COPPER CORP
Signed: "David Strang"
David Strang, President & CEO
For further information contact:
David Strang, President & CEO
dstrang@luminacopper.com
tel: + 604 646 1880
fax: + 604 687 7041
CAUTION REGARDING FORWARD LOOKING STATEMENTS: This news release
contains "forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and applicable
Canadian securities legislation. Forward-looking statements include,
but are not limited to, statements with respect to the future price of
gold, silver, copper and molybdenum, the timing of exploration
activities, the estimation of mineral reserves and mineral resources,
the results of drilling, estimated future capital and operating costs,
future stripping ratios, projected mineral recovery rates and Lumina
Copper's commitment to, and plans for developing any of its projects.
Generally, these forward-looking statements can be identified by the
use of forward-looking terminology such as "plans", "expects" or "does
not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "can", "could", "would",
"might" or "will be taken", "occur" or "be achieved". Forward-looking
statements are subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity,
performance or achievements of Lumina Copper to be materially different
from those expressed or implied by such forward-looking statements,
including but not limited to: risks related to the exploration and
potential development of the Company's projects, risks related to
international operations, the actual results of current exploration
activities, conclusions of economic evaluations, changes in project
parameters as plans continue to be refined, future prices of gold,
silver, copper and molybdenum, as well as those factors discussed in
the sections relating to risk factors of our business filed in Lumina
Copper's required securities filings on SEDAR. Although Lumina Copper
has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking
statements, there may be other factors that cause results to be
materially different from those anticipated, described, estimated,
assessed or intended.
There can be no assurance that any forward-looking statements will
prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements.
Lumina Copper does not undertake to update any forward-looking
statements that are incorporated by reference herein, except in
accordance with applicable securities laws.
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Copyright (c) 2010 LUMINA COPPER CORP. (LUM) All rights reserved. For
more information visit our website at http://www.luminacopper.com/ or
send mailto:info@luminacopper.com
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Lumina Copper Corp.
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EXPLORATEUR |
CODE : LCC.V |
ISIN : CA55025N1042 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Lumina Copper est une société d’exploration minière de cuivre basée au Canada. Ses principaux projets en exploration sont TACA TACA et SAN JORGE en Argentine. Lumina Copper est cotée au Canada. Sa capitalisation boursière aujourd'hui est 228,5 millions CA$ (208,8 millions US$, 157,2 millions €). La valeur de son action a atteint son plus bas niveau récent le 14 novembre 2008 à 0,30 CA$, et son plus haut niveau récent le 21 août 2014 à 10,00 CA$. Lumina Copper possède 22 850 000 actions en circulation. |