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Lumina Gold Update on Cangrejos Gold Copper Project in El Oro in Southern Ecuador

Mining News - Published on Tue, 12 Nov 2019

Image Source: luminagold.com
Lumina Gold Corp announced an updated mineral resource estimate for the Company's 100% owned Cangrejos Gold Copper Project, located in El Oro Province of southern Ecuador. The mineral resource update reflects both an update to the Cangrejos deposit and a maiden mineral resource estimate at the Gran Bestia deposit. Marshall Koval, President and CEO, said "The Cangrejos Project has continued to surprise and impress with both its scale and continuity. Two years of collaborative work and approximately 40,000 metres of drilling has now shown the Project to be the largest primary gold deposit in Ecuador. This news cements our view that this deposit is unique and one of the largest deposits in the world that is 100% controlled by an independent developer. ”

Mineral Resource Update Highlights

Cangrejos Deposit
Converted and added 8.9 million ounces contained gold and 1.2 billion pounds contained copper to the indicated mineral resource
- 469 million tonnes of indicated mineral resource with an average grade of 0.59 g/t gold and 0.12% copper
Added 3.5 million ounces contained gold and 466 million pounds contained copper to the inferred mineral resource
-255 million tonnes of inferred mineral resource with an average grade of 0.43 g/t gold and 0.08% copper

Gran Bestia Deposit
Added 1.5 million ounces of contained gold to the indicated mineral resource and 2.7 million ounces of contained gold to the inferred mineral resource at the Project from the maiden mineral resource estimate
-99 million tonnes of indicated mineral resource with an average grade of 0.46 g/t gold and 0.08% copper
-221 million tonnes of inferred mineral resource with an average grade of 0.39 g/t gold and 0.07% copper
-Added 178 million pounds of contained copper to the indicated mineral resource and 322 million pounds of contained copper to the inferred mineral resource at the Project

Source :

Posted By : Rabi Wangkhem on Tue, 12 Nov 2019
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