Lumina Gold Announces Concession Extension Until 2049
Lumina Gold announces that Ecuador's Ministry of Energy and Mines has extended the Los Cangrejos mining concession until 2049, with the possibility of an additional 25-year extension. The company outlines key milestones for 2024-2025, including signing the exploitation contract, completing feasibility studies, and obtaining environmental permits.
The company reports progress on various technical components, including metallurgical testing, geotechnical field programs with 20 boreholes and 53 test pits, and a Regional Hydrogeology Program with 12 new wells. Work is advancing on resource estimates, mine plan design, and final site plans with plant design and vendor quotes.
Lumina Gold annuncia che il Ministero dell'Energia e delle Miniere dell'Ecuador ha esteso la concessione mineraria di Los Cangrejos fino al 2049, con la possibilità di un'estensione aggiuntiva di 25 anni. L'azienda delinea i principali traguardi per il 2024-2025, compresi la firma del contratto di sfruttamento, il completamento degli studi di fattibilità e l'ottenimento dei permessi ambientali.
L'azienda riporta progressi su vari componenti tecnici, inclusi test metallurgici, programmi geotecnici sul campo con 20 perforazioni e 53 scavi, e un Programma di Idrogeologia Regionale con 12 nuovi pozzi. I lavori stanno avanzando nella stima delle risorse, nella progettazione del piano minerario e nei piani finali del sito, comprendenti la progettazione dell'impianto e le quotazioni dei fornitori.
Lumina Gold anuncia que el Ministerio de Energía y Minas de Ecuador ha extendido la concesión minera de Los Cangrejos hasta 2049, con la posibilidad de una extensión adicional de 25 años. La empresa describe los hitos clave para 2024-2025, que incluyen la firma del contrato de explotación, la finalización de los estudios de factibilidad y la obtención de permisos ambientales.
La compañía informa sobre el progreso en varios componentes técnicos, incluyendo pruebas metalúrgicas, programas geotécnicos de campo con 20 sondeos y 53 trincheras, y un Programa de Hidrogeología Regional con 12 nuevos pozos. El trabajo avanza en las estimaciones de recursos, el diseño del plan minero y los planes finales del sitio, incluyendo el diseño de la planta y las cotizaciones de los proveedores.
루미나 골드는 에콰도르 에너지 광산부가 로스 칸그레호스 광산의 채굴 권한을 2049년까지 연장했다고 발표했습니다. 추가 25년 연장의 가능성 또한 있습니다. 회사는 2024-2025년의 주요 이정표를 세부적으로 설명하며, 여기에는 착취 계약 서명, 타당성 조사 완료, 환경 허가 취득이 포함됩니다.
회사는 금속 시험, 지반 공학 현장 프로그램으로 20개의 borehole과 53개의 시험 구덩이를 사용하며, 지역 수리지질 프로그램으로 12개의 새로운 우물을 설치하는 등 다양한 기술 요소에서 진전을 보고했습니다. 자원 추정, 광산 계획 설계 및 최종 부지 계획 작업은 공장 설계와 공급업체 견적서를 포함하여 진행 중입니다.
Lumina Gold annonce que le ministère de l'Énergie et des Mines de l'Équateur a réparti la concession minière de Los Cangrejos jusqu'en 2049, avec la possibilité d'une extension de 25 ans. L'entreprise décrit les principales étapes pour 2024-2025, y compris la signature du contrat d'exploitation, l'achèvement des études de faisabilité, et l'obtention des permis environnementaux.
L'entreprise fait état des progrès sur divers composants techniques, y compris les tests métallurgiques, les programmes géotechniques de terrain avec 20 forages et 53 fouilles, ainsi qu'un Programme régional d'hydrogéologie comprenant 12 nouveaux puits. Les travaux avancent sur les estimations de ressources, la conception du plan minier et les plans finaux du site, comprenant la conception de l'usine et les devis des fournisseurs.
Lumina Gold gibt bekannt, dass das Ministerium für Energie und Bergbau in Ecuador die Mining-Koncession für Los Cangrejos bis 2049 verlängert hat, mit der Möglichkeit einer zusätzlichen Verlängerung um 25 Jahre. Das Unternehmen skizziert wichtige Meilensteine für 2024-2025, darunter die Unterzeichnung des Ausbeutungsvertrags, den Abschluss der Machbarkeitsstudien und den Erhalt der Umweltgenehmigungen.
Das Unternehmen berichtet von Fortschritten bei verschiedenen technischen Komponenten, einschließlich metallurgischer Tests, geotechnischer Feldprogramme mit 20 Bohrungen und 53 Testgruben sowie einem Regionalen Hydrogeologie-Programm mit 12 neuen Brunnen. Die Arbeiten an Ressourcenschätzungen, der Gestaltung des Bergwerksplans und den endgültigen Standortplänen, einschließlich der Planung der Anlage und der Angebote von Anbietern, schreiten voran.
- Secured mining concession extension until 2049
- Option for additional 25-year extension beyond 2049
- Comprehensive technical progress across multiple development areas
- None.
The Company continues to execute its plans to advance the Cangrejos project to a fully permitted, ready to construct project with the following projected milestones:
- Signing of the binding terms (Acta de Negociación Final) for the Exploitation Contract – Q4 2024
- Addendum of the existing Exploration Investment Protection Agreement to include historical investment up to 2024 – Q4 2024
- Signing of the Complementary Investment Protection Agreement for the construction period – Q1 2025
- Completion of the Feasibility Study – Q2 2025
- Submission of the Environmental Impact Study for permitting – Q2 2025
- Change of Mining Title phase to exploitation – H1 2025
- Signing of the Exploitation Contract – H2 2025
- Public Environmental Consultation – Specific timing to be determined
Lumina continues to advance specific components of the Feasibility Study, including:
- Completion of a metallurgical test work program at C. H. Plenge & CIA S.A., an independent metallurgical laboratory based in
Lima, Peru . - Completion of a geotechnical field program for facility siting was completed to finalize designs, including a total of 20 boreholes, 53 test pits, and over 9,500 metres of geophysics lines.
- Completion of a Regional Hydrogeology Program, which included the drilling and pump-testing of 12 new wells to support the Feasibility Study and Environmental Impact Study baseline.
- Advancement of an updated resource estimate and mine plan design is near completion by Sim Geological and IMC Tucson.
- Advancement of final site plans, plant design and receipt of vendor quotes for all major equipment required to generate capital and operating cost estimates for the Feasibility Study are being undertaken by Ausenco Engineering Canada ULC.
Qualified Persons
Ron Halas, P.Eng., Chief Operating Officer of Lumina and a Qualified Person as defined by NI 43-101 has reviewed, verified, and approved the contents of this news release.
About Lumina Gold
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LUMINA GOLD CORP.
Signed: "Marshall Koval"
Marshall Koval, President & CEO, Director
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Cautionary Note Regarding Forward-Looking Information
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to the timing and completion of the items listed as projected milestones. Often, but not always, forward-looking statements or information can be identified by the use of words such as "will" or "projected" or variations of those words or statements that certain actions, events or results "will", "could", "are proposed to", "are planned to", "are expected to" or "are anticipated to" be taken, occur or be achieved.
With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the prices of gold and copper, and anticipated costs and expenditures. The foregoing list of assumptions is not exhaustive.
Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time in the Company's continuous disclosure documents filed with Canadian securities administrators. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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SOURCE Lumina Gold Corp.
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