Luminex Resources Corp. announced drill results from two holes that successfully targeted a deeper level of the Cuyes West structure (CU23-30 and CU23-31) as well as intersecting the breccia pipe in the hanging wall, before the Cuyes West structure was reached. Hole CU23-30 intersected multiple high-grade structures, notably 5.0 metres from 303.0 metres, which graded 6.42 g/t gold and 27.4 g/t silver (6.75 g/t Au Eq), that contained 1.0 metre from 307.0 metres grading 27.90 g/t gold and 47.6 g/t silver (28.47 g/t Au Eq) within the brecciated contact of a later, dacite porphyry.

The hole did not cut the breccia pipe itself, but within the dacite porphyry contact breccia intercepted 52.0 metres from 123.0 metres grading 0.53 g/t gold and 2.9 g/t silver (0.56 g/t Au Eq). The Cuyes West structure was intercepted at 600.5 metres with a thickness of 1.3 metres grading 11.70 g/t gold and 35.7 g/t silver (12.13 g/t Au Eq). Hole CU23-31 intersected the breccia pipe target from 176.0 metres with 89.0 metres grading 0.95 g/t gold and 5.6 g/t silver (1.01 g/t Au Eq).

The hole then cut the Cuyes West structure over a 1.0 metre interval from 386.0 meters grading 10.48 g/t gold and 46.2 g/t silver (11.03 g/t Au Eq). Other intervals are present in additional structures in holes CU23-30 and CU23-31. The Cuyes West structure continues to remain open at depth with the deepest confirmed depth of 500 metres intercepted in both CU23-29 and CU23-30.

The area near holes CU23-30 and CU23-31 of Cuyes West long section seems to be encroached on, and narrowed, by the later, less strongly mineralized dacite porphyry. The dacite porphyry and its upper and lower contact is interpreted to be steeply dipping to the southwest. Luminex expects the continued expansion and infilling of the Cuyes West structure to add to the potentially mineable underground mineral resource at Condor.

The Company plans to update its Preliminary Economic Assessment for Condor North in 2024 in order to incorporate a new mineral resource at the Cuyes West structure. Given the success of the deeper drilling, Luminex anticipates it will require more drilling to bring the full structure into the inferred category of mineral resource. Planned hole CU23-32 will be drilled from a new pad at Cuyes and will test the depth extent of the breccia pipe structure.

This hole will inform future drilling plans. The style of mineralization at Cuyes West structure is identical to that at the Camp deposit, 600 metres to the west. At a property scale, these mineralized structures are interpreted to be hosted in ring and radial fractures around the Cuyes caldera.