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Lumina Gold Corp.
Summary
| Project: | Cangrejos | |
|---|---|---|
| Deposit: | Cangrejos | |
| Location: | Ecuador | |
| Commodities: | Copper-Molybdenum-Gold-Silver | |
| Date: | 6/9/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-6-2020: Lumina Gold Corp. announces a PEA report for its Cangrejos deposit at the Cangrejos project. PEA results incl. post-tax NPV (5%) of US$1.6B & IRR of 16.2%. Vancouver, British Columbia - Lumina Gold Corp. (TSXV: LUM) (OTCQX: LMGDF) (the “Company” | |
| Resources: | (Resource): 254.9Mt @ 0.55g/t AuEq (Inf.) and 469.7Mt @ 0.77g/t AuEq (Ind.) | |
| CP/QP: | [Overall Report]: Robert Sim (SIM Geological Inc.) | |
| ABSTRACT: | Vancouver, British Columbia - Lumina Gold Corp. (TSXV: LUM) (OTCQX: LMGDF) (the “Company” or “Lumina”) is pleased to announce it has received positive results from the Preliminary Economic Assessment (the “PEA”), prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), for its 100%- owned Cangrejos Project (“Cangrejos” or the “Project”). The work that was completed as the basis for the PEA was managed by MTB Enterprises Inc. (“MTB”) and demonstrates substantial improvements since the Company’s Preliminary Economic Assessment in 2018 (the “2018 PEA”) with the addition of Gran Bestia, increased mineral resource definition and improved process flow sheet. Marshall Koval, President and CEO, commented: “I am extremely pleased that we increased the after-tax NPV of Cangrejos by over $600 million to $1.6 billion, maintained average annual gold production of more than 360,000 ounces per year for 25 years and increased the after-tax IRR of the Project to 16.2%. Cangrejos is an exceptional global gold deposit and one of the few of this scale that is 100% controlled by an independent developer. Ecuador has made substantial progress in its mining sector with the successful commissioning of Fruta del Norte and Mirador. Now the country will turn their focus to the next generation of development projects.” | |
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