Lumina Gold Advances Cangrejos Project with Feasibility Study Update

–News Direct–

Lumina Gold CEO Marshall Koval joined Steve Darling from Proactive to provide an insightful update on the progress of the Feasibility Study (FS) for its Cangrejos gold-copper project in southwest Ecuador, in collaboration with Ausenco Engineering Canada and other key stakeholders.

According to Koval, the consulting team has been diligently conducting field operations at Cangrejos, meeting the necessary milestones to finalize the FS by Q2 2025. Notably, the plan entails increasing the initial processing plant throughput to 40,000 tonnes per day, compared to the previously planned 30,000 tonnes per day outlined in the 2023 Pre-feasibility Study. This adjustment aims to streamline construction efforts, facilitate future expansions, and expedite gold and copper production.

Furthermore, the project strategy includes resequencing the mine plan to prioritize the extraction of the higher-grade Cangrejos deposit before commencing mining operations at Gran Bestia. Additionally, over 300 million tonnes of waste rock will be strategically placed into the Cangrejos pit post-mining, significantly reducing the required land area for waste rock storage and minimizing haul distances.

Presently, field crews are actively engaged in digging test pits, with plans for two drill rigs to arrive on-site in late May to commence drilling geotechnical boreholes. These activities are crucial in supporting facility siting and optimizing project execution.

With these strategic developments underway, Lumina Gold is poised to advance the Cangrejos project towards commercial viability and establish a strong foothold in Ecuador's burgeoning mining sector.

Contact Details

Res

+1 604-688-8158

NA-editorial@proactiveinvestors.com

View source version on newsdirect.com: https://newsdirect.com/news/lumina-gold-advances-cangrejos-project-with-feasibility-study-update-603363340

Lumina Gold Corp

COMTEX_452799865/2655/2024-05-23T14:16:52