Lumina Copper Corp. (TSX VENTURE:LCC) (the "Company") is pleased to
announce results from 7 new holes drilled as part of the ongoing
exploration and development program at its 100% owned Taca Taca
copper/gold/molybdenum deposit located in Salta province,
Argentina. Results are highlighted by step-out hole TT11-35 that
intersected 586 meters grading 0.77% copper, 0.13g/t gold and 0.02%
molybdenum (0.97% copper equivalent(1)), including 280 meters
grading 1.09% copper, 0.14g/t gold and 0.01% molybdenum (1.23%
copper equivalent). Hole TT11-35 was drilled 150 meters to the
north of hole TT11-26 and 75 meters outside the 0.4% copper
equivalent(2) shell of the known National Instrument 43-101
compliant ("NI 43-101") mineral resource estimate.
In addition to increasing the mineral resource's grade and size
laterally, hole TT11-35 also extends mineralization an additional
320 meters below the NI 43-101 mineral resource estimate in the
immediate area. Likewise, holes TT11-31 and TT11-34 drilled in the
same northern zone have increased mineralization to depth by 230
meters and 350 meters respectively. TT11-37, drilled 140 meters
beyond the northern boundary of the NI 43-101 mineral resource
estimate, has extended mineralization in that direction, while
TT11-33, drilled along the south western boundary of the NI 43-101
mineral resource estimate, increased the depth of mineralization in
this area by an additional 290 meters.
Drilling continues to identify additional oxide gold and copper
in the leached cap. Hole TT11-32, drilled near the eastern boundary
of the NI 43-101 mineral resource estimate, intercepted 181 meters
grading 0.31g/t gold and hole TT11-37 intercepted 100 meters
grading 0.25% copper.
Details of the relevant intercepts from the latest 7 holes are
shown in the table below with locations shown in the map
attached:
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From To Interval Cu Au Mo CuEq(1)
Hole No. Meters Meters meters % g/t % %
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TT11-31 304 742 438 0.51 0.14 0.02 0.71
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including 370 398 28 0.93 0.32 0.01 1.18
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and 656 742 86 0.66 0.12 0.02 0.85
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Significance: Confirms northwestern continuity. Extends mineralization
approximately 230 meters below NI 43-101 mineral resource estimate in
immediate area. Hole ended in 1.23% copper mineralization.
---------------------------------------------------------------------------
TT11-32 3 184 181 0.31
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and 316 424 108 0.21 0.09 0.01 0.32
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Significance: Hydrogeological test hole. Drilled along eastern margin of NI
43-101 mineral resource estimate.
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TT11-33 430 705 275 0.27 0.07 0.02 0.43
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Significance: Drilled along south western boundary of known mineralization.
Extends mineralization 290 meters below NI 43-101 mineral resource estimate
in immediate area.
---------------------------------------------------------------------------
TT11-34 0 38 0.38
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and 178 828 650 0.54 0.11 0.02 0.72
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including 182 306 124 0.99 0.24 0.02 1.25
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including 226 298 72 1.39 0.24 0.03 1.71
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Significance: Confirms north eastern continuity. Extends mineralization
approximately 350 meters below NI 43-101 mineral resource estimate in
immediate area.
---------------------------------------------------------------------------
TT11-35 194 780 586 0.77 0.13 0.02 0.97
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including 196 476 280 1.09 0.14 0.01 1.23
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including 376 476 100 1.41 0.12 0.02 1.54
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Significance: Drilled 75 meters beyond the northeastern margin of known
mineral resource and extends mineralization approximately 320 meters below
NI 43-101 mineral resource estimate in immediate area.
---------------------------------------------------------------------------
TT11-36 No significant intercepts
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Significance: Geotechnical hole drilled west of NI 43-101 mineral resource
estimate.
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TT11-37 62 162 100 0.25
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and 240 482 242 0.36 0.02 0.01 0.43
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including 334 368 34 0.52 0.03 0.54
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including 434 460 26 0.63 0.02 0.01 0.70
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Significance: Drilled 140 meters to the north northwest of NI 43-101
mineral resource estimate.
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Copper equivalent calculated using US$2.00/lb Cu, US$800/oz Au and
US$12.00/lb Mo and is not adjusted for metallurgical recoveries as these
remain uncertain. The formula used is as follows: CuEQ = Cu% + (Au g/t x
0.583) + (Mo% x 6).
The drill program is focused on defining a higher grade zone
within the NI 43-101 mineral resource estimate as well as expanding
mineralization to depth and to the north and south. To date, 57
core holes totalling 31,080 meters and 38 reverse circulation
("RC") holes totalling 6,970 meters have been completed. Five drill
rigs are currently operating on the project (4 core and one RC).
Two additional drills, one core and one RC will arrive by the end
of the week. RC drill rigs are being used to pre-collar core holes
to expedite the program, as well as to explore and delineate the
gold and copper zones known to exist in the leached cap of the Taca
Taca porphyry system.
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 released an independent 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 0.47% copper, 0.11g/t gold
and 0.018% molybdenum (0.64% copper equivalent(2)), containing 8.71
billion pounds of copper, 2.97 million ounces of gold and 333.70
million pounds of molybdenum. This mineral resource estimate does
not incorporate or reflect the drilling results described
above.
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).
Andrew Carstensen, CPG, 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.
(2) The copper equivalent cut off grade used in the calculation
of the mineral resource estimate was determined using US$1.50 / lb
copper, US$600 / oz gold and US$9.00 / lb molybdenum and was not
adjusted for metallurgical recoveries as these remain uncertain.
The formula used in the calculation was as follows: CuEQ = Cu% +
(Au g/t x 0.583) + (Mo% x 6).
LUMINA COPPER CORP.
David Strang, President & CEO
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, 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 the Taca Taca project. 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 Taca Taca project, 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, 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.
To view the map associated with this press release, please click
on the following link:
http://media3.marketwire.com/docs/l105.pdf
Contacts: Lumina Copper Corp. David Strang President & CEO
604 646 1880 604 687 7041
(FAX)dstrang@luminacopper.comwww.luminacopper.com
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