CUEQCommon Update Equipment
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Prices used to calculate CuEq and AuEq are: Cu: $2.57/lb, Au: $1,294.80/oz, Ag: $15.65/oz.
The CuEq (copper equivalent) was calculated using Co=14 USD/lb, Cu=2.5 USD/lb, Ag=17 USD/oz and Au=1500 USD/oz.
* Significant scope to expand the mineral inventory with recent drilling intersecting 456.0m at 1.06% CuEq. (0.93% Cu, 0.15g/t Au) from 10.0m extending mineralisation beyond current the current JORC Resource envelope and remaining open to depth and laterally.
Based on a cut-off grade of 0.5% CuEq, significant zones of high grade copper, zinc, lead, gold, and silver mineralization were intersected - including: AR17-0159 intersected four mineralized intervals; AR17-0160 intersected four mineralized intervals; AR17-0161 intersected two mineralized intervals; AR17-0162 intersected one mineralized interval; and AR17-0163 intersected one mineralized interval.
The drill program on Francisco II is proposed as a series of step out holes and offset locations at 150 metre spacing to the west of Lumina's existing grid where exceptional results were reported in a Lumina news release from reverse circulation drill hole TTRC-19, which assayed 0.83% CuEq over an interval of 222 metres.
At a 0.30% copper equivalent (CuEQ)(1) cut-off, the Pebble Deposit mineral resources are 5.1 billion tonnes of measured and indicated mineral resources grading 0.77% CuEQ, containing 48 billion pounds of copper, 57 million ounces of gold, and 2.9 billion pounds of molybdenum; plus 4.0 billion tonnes of inferred mineral resources grading 0.55% CuEQ, containing 24 billion pounds of copper, 37 million ounces of gold and 1.9 billion pounds of molybdenum.
Drill highlights include 2,460 ft grading 1.20% copper equivalent (CuEQ =0.78% Cu, 0.25 g/t Au, 0.046% Mo).
Drill hole DDH19-SD-437 is the first drill hole to be drilled north of DDH18-SD-421 in the 421 zone and has returned an 86.40 metre intersection grading 3.00% copper equivalent (CuEq)-2 and ended in mineralization.
The hole intercepted 84 meters grading Cu 0.34% (CuEq 0.46%) of the recently discovered and previously unknown "Upper Zone" mineralization encountered in the preceding two drill holes[sup.2].
Of particular significance are assays from drill hole H-8: 287.13 metres (942.02 ft) with 0.29% CuEq ("equivalent"), including 37.25 metres with 0.53% CuEq, 15.8 metres with 0.97% CuEq and 79.83 metres with 0.44% CuEq and all of drill hole H-11 that starting from surface returned 313.11 metres (1027.3 ft) with 0.32% CuEq, including 61.08 metres with 0.52% CuEq (including 21.34 metres of 1.05 % CuEq), and 51.82 metres with 0.62% CuEq.