Vancouver – Lumina Copper (LUM-V) has intersected more copper over wide intervals while diamond drilling on its wholly-owned Regalito project in central Chile. The Regalito property comprises 4158 hectares situated in Chile’s Region III. The property hosts a large Andean-type porphyry copper deposit that contains a significant amount of supergene and oxide copper mineralization.
Since the early 1980s the property has undergone a number of exploration campaigns by Newmont, Niugini Mining and BHP.
BHP completed a historic resource estimate in 1995 on the porphyry mineralization at Regalito based on 65 holes. In all resource categories at a cutoff grade of 0.3% copper, nearly 200 million tonnes grading 0.5% copper were outlined.
New results are from seven core holes recently drilled and include holes drilled from surface and some previous reverse circulation holes that have been deepened by diamond drilling.
Results were highlighted by hole RG 04-16 that returned 392 metres grading 0.51% copper of which 84% of the contained copper is leachable. Other significant intervals include 280 metres averaging 0.38% copper (85% leachability) from a downhole depth of 66 metres and 316.50 metres averaging 0.47% copper from a downhole depth of 6 metres (70% leachability).
Judging by the long intercepts of copper-oxide and secondary sulphide mineralization, the company believes there is excellent potential for a major copper deposit which is amenable to the use of low-cost leaching technology.
A metallurgical test program is planned to begin within the next few weeks to evaluate the leaching and acid consumption characteristics of the mineralization so far.