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Luminex Resources Corp. (TSXV:LR) New Listing

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The company was created by a spin off from Lumina Gold to hold all of Lumina’s Ecuador concessions and properties, with the exception of the Cangrejos Gold-Copper Project.

Additional Information:

Company: Luminex Resources Corp
Website: http://www.LuminexResources.com
Stock Symbol: TSXV: LR
Date Published: Sep 5, 2018
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Luminex Resources Corp.is the latest new listing on the TSX Venture Exchange, trading under the symbol “LR”.

The company was created by a spin off from Lumina Gold to hold all of Lumina’s Ecuador concessions and properties, with the exception of the Cangrejos Gold-Copper Project.

The Condor Project, located in southeastern Ecuador, 40 kilometers east of the town of Zamora and 70 kilometers east of the city of Loja, is accessed by paved and gravel roads.

The Project was previously owned by Ecuador Gold and Copper Corp. which was acquired by Lumina in November 2016.

The Project consists of nine contiguous mining concessions with a total area of 10,102 hectares.

Gold has been identified in the area since pre-Columbian times, and informal miners have been working in the area since 1984.

Modern exploration of the Project area commenced in 1988

The Condor Project, an exploration project, has seen extensive, historical geochemical and geophysical surveys, and drilling, which identified numerous mineralized zones.

A current NI 43-101 Technical Report filed on Sedar, shows an estimate of 1.6 million ounces of gold equivalent in the Indicated Resources category, and 3.2 million ounces of gold equivalent in the Inferred Resources category, using a base cut-off of 0.35 grams per tonne gold equivalent.

The report recommended a two-phase work program with Phase 1 including a 4,500 meter drill program at an estimated cost of $1.4 million.

The shares are currently trading at $0.90, and with 41.1 million shares outstanding, the company is capitalized at $37 million.

For more information, please visit the company’s website at www.LuminexResources.com, or contact Marshall Koval, CEO, at 604-646-1890 or by email at info@LuminexResources.com.

I’m Samantha Deutscher for Investmentpitch Media