Luminex Resources Corp. is a mineral mining company primarily involved in the exploration, development and advancement of precious metal and base metal assets. Luminex Resources Corp. was formed on August 31, 2018, under an arrangement according to which Lumina Gold Corp transferred all its properties, except the Cangrejos Project, into the new company. The details about the arrangement and shares of the company are mentioned on its official website.
Luminex Resources Corp. on the TSX Venture Exchange lists shares under the symbol LR. The natural resource mining company trades its shares on the OTCQX market under the symbol LUMIF.
The Vancouver-based mineral exploration company owns a 90 per cent ownership stake in the Condor Project. The remaining 10 per cent is held by a pension fund for Ecuador’s military. The Condor Project is situated in Zamora-Chinchipe, southeast of Ecuador.
Luminex identified three different kinds of mineralization onsite, which include:
• Epithermal vein structure
• Gold-bearing sulphide zones
• Gold-copper porphyry
The Condor Property is close to two major mineral properties -- the FDN Project and the Mirador Project -- indicating the presence of high-grade gold mineralization. The company is focused on advancing this project to exploit the Au opportunities.
Luminex Resources also holds a 100 per cent ownership stake in the Cascas Project. The Cascas Property comprises copper and gold mineralization. The company also identified a copper porphyry -- the Shakai target onsite on October 22, 2020.
Luminex Resources Inc. owns an interest in two other projects through non-binding earn-in agreements:
• Pegasus Earn-in Project with Anglo American
• Tarqui Earn-in Project with BHP Group PLC
Luminex Resources Inc. is working on various exploration and drilling operations to identify additional mineral prospects and develop the current discoveries to expand the mineral resources at the project sites.