Lumina Gold (TSXV: LUM) is on track to complete a first-ever resource estimate on its Gran Bestia gold-copper deposit and an updated resource on its Cangrejos gold-copper deposit before year-end.
The two deposits in Ecuador are a kilometre apart and 40 km from the deep-water commercial port of Bolivar.
The junior, in which geologist and serial mine finder Ross Beaty owns a 17.2% stake, has already defined an inferred resource at Cangrejos, with 8.5 million oz. gold and 1 billion contained lb. copper within 408 million tonnes grading 0.65 gram gold per tonne and 0.11% copper. The company’s goal is to upgrade the inferred material to indicated and include expansion drilling.
Gran Bestia, which Lumina confirmed earlier this year can be a satellite deposit, could add to Cangrejos’ 16-year mine life.
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