Pre-Feasibility study...June 1... Lumina Gold Announces Filing of NI 43-101 Pre-Feasibility Study Technical Report
VANCOUVER, BC, June 1, 2023 /PRNewswire/ - Lumina Gold Corp. (TSXV: LUM) (OTCQX: LMGDF) (the "Company" or "Lumina") is pleased to announce that the Company has filed on SEDAR an independent technical report (the "Report") prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") supporting the results of a Pre-Feasibility Study ("PFS") for the development of its Cangrejos gold-copper project located in southwest, Ecuador (the "Project" or "Cangrejos"). The results of the PFS were previously reported in the Company's news release dated April 17, 2023, and there are no material differences in the Report from those results. The effective date of the Report is April 7, 2023.
PFS Highlights:
- Life of mine ("LOM") average annual payable production of 371 thousand ounces gold ("koz")
- LOM average annual payable by-product production of 41 million lbs copper
- 469 koz of average annual gold equivalent production over the LOM
- 26-year mine life with a LOM revenue mix of 79% gold, 20% copper and 1% silver
- 30,000 tonnes per day processing operation from years 1-3, with an expansion to 60,000 in year 4 and 80,000 in year 7
- After-tax NPV (5%) of $2.2 billion and IRR 17.2% using base case prices
- Average cash operating costs of $602/oz and all-in sustaining costs of $671/oz, net of by-product credits
- LOM processed grades of 0.55 grams per tonne ("g/t") gold and 0.10% copper
- Years 1-6 processed grades of 0.71 g/t gold and 0.12% copper
- Initial capital costs of $925 million include working capital and exclude refundable value added tax ("VAT")
The full Report dated June 1, 2023, and entitled "Cangrejos Gold-Copper Project NI 43-101 Technical Report on the Pre-feasibility Study", can be found on the Company's website at https://luminagold.com/projects/cangrejos-project/technical-reports and on SEDAR under the Company's issuer profile at www.sedar.com.
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Leo Hathaway, P.Geo., Senior Vice President of Lumina, who Is a Qualified Person as defined by NI 43-101.
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Lumina Gold Announces Filing of NI 43-101 Pre-Feasibility Study Technical Report
V.LUM | 5 days ago
VANCOUVER, BC, June 1, 2023 /PRNewswire/ - Lumina Gold Corp. (TSXV: LUM) (OTCQX: LMGDF) (the "Company" or "Lumina") is pleased to announce that the Company has filed on SEDAR an independent technical report (the "Report") prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") supporting the results of a Pre-Feasibility Study ("PFS") for the development of its Cangrejos gold-copper project located in southwest, Ecuador (the "Project" or "Cangrejos"). The results of the PFS were previously reported in the Company's news release dated April 17, 2023, and there are no material differences in the Report from those results. The effective date of the Report is April 7, 2023.
Lumina Gold Corp. Logo (CNW Group/Lumina Gold Corp.)
PFS Highlights:
Life of mine ("LOM") average annual payable production of 371 thousand ounces gold ("koz")
LOM average annual payable by-product production of 41 million lbs copper
469 koz of average annual gold equivalent production over the LOM
26-year mine life with a LOM revenue mix of 79% gold, 20% copper and 1% silver
30,000 tonnes per day processing operation from years 1-3, with an expansion to 60,000 in year 4 and 80,000 in year 7
After-tax NPV (5%) of $2.2 billion and IRR 17.2% using base case prices
Average cash operating costs of $602/oz and all-in sustaining costs of $671/oz, net of by-product credits
LOM processed grades of 0.55 grams per tonne ("g/t") gold and 0.10% copper
Years 1-6 processed grades of 0.71 g/t gold and 0.12% copper
Initial capital costs of $925 million include working capital and exclude refundable value added tax ("VAT")
The full Report dated June 1, 2023, and entitled "Cangrejos Gold-Copper Project NI 43-101 Technical Report on the Pre-feasibility Study", can be found on the Company's website at https://luminagold.com/projects/cangrejos-project/technical-reports and on SEDAR under the Company's issuer profile at www.sedar.com.
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Leo Hathaway, P.Geo., Senior Vice President of Lumina, who Is a Qualified Person as defined by NI 43-101.