Luminex discovers a new porphyry copper target in Cascas

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Figure 1. Hapa location map showing Cascas soil sampling grids, major faults and ZTEM geophysics

After its discovery, the size and shape of the Hapa target was defined by infill soil sampling on a 100m X 100m grid in the abnormal zone (Figure 2). To date, rock chip and channel samples along streams have assayed up to 1.29% copper and 0.33% molybdenum. Copper and molybdenum mineralization occurs as disseminations and bubbles in granodiorites, sets of porphyry-style quartz veins and sulphide-rich ribbon veins including pyrite, chalcopyrite, chalcocite, covellite and molybdenite (Figure 3). Native sulfur was also noted in the outcrop and a high sulfur anomaly in the soil coincides with copper, molybdenum and tungsten anomalies in this soil study data, all indicative of porphyry mineralization. The copper-molybdenum anomaly forms an irregular “bull’s eye” with a diameter of approximately 1000 m when profiled at 400 ppm copper and 20 ppm molybdenum. Host rocks are hydrothermally altered and locally faulted granodiorite, granodiorite porphyry and diorite magmas. Zamora batholith. Late and localized porphyry dykes cut intrusive rocks.

Figure 2. Soil sample locations with copper and molybdenum sample results and profiled rock chips for those returning> 0.3% copper.

Figure 3. Hapa rock samples and styles of mineralization.

Geological mapping along the streams at Hapa has delineated an elliptical zone of sericite-quartz (phyllic) alteration, approximately 1 km in diameter, which coincides with soil anomalies in copper and molybdenum. Near the center of the phyllic zone is a narrow window of potassium alteration (potassium feldspar (Figures 4 and 5). Outside the phyllic zone, the hydrothermal alteration becomes propylitic, characterized by a chlorite-epidote mineral assemblage. carbonate-magnetite This concentric zonation of hydrothermal alteration minerals is typical of copper porphyry deposits.

Figure 4. Geology of the Hapa target with superimposed soil copper geochemistry.

Luminex interprets that a porphyry copper intrusion is located below the Hapa geochemically anomalous zone, indicating good preservation of the phyllic and underlying potassium alteration zones and the potential for secondary copper enrichment. The target area is centered on a rugged hill, possibly the product of differential uplift between two formative faults which facilitated the establishment of the porphyry system (see Figure 5).

Figure 5. Schematic geological section (top) and comparable surface view (bottom).

Qualified people

Leo Hathaway, P. Geo, Senior Vice-President Exploration of Luminex and the Qualified Person as defined by National Instrument 43-101 Disclosure standards for mining projects, has reviewed, verified and approved the scientific and technical information contained in this press release and verified the data underlying this scientific and technical information.

About Luminex Resources

Luminex Resources Corp. (TSXV: LR, OTCQX: LUMIF) is a Vancouver, Canada precious and base metals exploration and development company based on gold and copper projects in Ecuador. Luminex’s Inferred and Indicated Mineral Resources are located at the Condor Gold-Copper Project in the Zamora-Chinchipe Province, southeast Ecuador. Luminex also has a large set of very promising fields in Ecuador, including the Tarqui and Pegasus projects, which are co-developed with BHP Group plc and Anglo-American respectively.

Further details are available on the Company’s website at https://luminexresources.com/.

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LUMINEX CORP. RESOURCES

Sign: “Marshall Koval”

Marshal Koval, CEO and 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 release.

SOURCE Luminex Resources Corp.


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