{"id":1148701,"date":"2019-11-07T16:54:50","date_gmt":"2019-11-07T22:54:50","guid":{"rendered":"https:\/\/www.mining.com\/?p=1006340"},"modified":"2019-11-07T16:54:50","modified_gmt":"2019-11-07T22:54:50","slug":"lumina-grows-its-cangrejos-project-in-ecuador","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1148701","title":{"rendered":"Lumina grows its Cangrejos project in Ecuador"},"content":{"rendered":"<p>Lumina Gold\u2019s Cangrejos porphyry gold-copper project in Ecuador is growing, thanks to a 40,000-metre drill program that has upgraded and expanded resources at the Cangrejos deposit and resulted in a first time resource at the Gran Bestia deposit. Together, the deposits, which are about 1 km apart, hold 10.4 million indicated oz. of gold and 6.3 million inferred oz. of gold.<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The company released a positive\u00a0<a href=\"https:\/\/luminagold.com\/news\/2018\/lumina-gold-announces-positive-cangrejos-pea-results\">preliminary economic assessment<\/a> (PEA) for the project in 2018, outlining a 16-year mine life based on an inferred resource that totalled 8.5 million oz. gold and 1 billion lb. copper. Lumina plans to update the PEA for Cangrejos, located in El Oro province in southern Ecuador, next year.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p> The Cangrejos project now holds 468.8 million indicated tonnes grading 0.77 g\/t gold equivalent <\/p>\n<\/blockquote>\n<\/figure>\n<p>The new resource estimate uses a gold price of $1,500 per oz. (up from $1,400 in the previous estimate) a copper price of $3 per lb. (down from $3.25) and a cutoff grade of 0.3 g\/t gold equivalent (down from 0.35 g\/t gold equivalent).<\/p>\n<p>The Cangrejos project now holds 468.8 million indicated tonnes grading 0.77 g\/t gold equivalent (or 0.59 g\/t gold, 0.12% copper, 0.7 g\/t silver, and 22.4 ppm molybdenum). Contained metals total 8.9 million oz. gold, 1.2 billion lb. copper, 10.9 million oz. silver and 23.2 million lb. molybdenum.<\/p>\n<p>Inferred resources add 254.8 million tonnes at a grade of 0.55 g\/t gold-equivalent (or 0.43 g\/t gold, 0.08% copper, 0.7 g\/t silver and 14.7 ppm moly) for contained metals of 3.5 million oz. gold, 466 million lb. copper, 5.7 million oz. silver and 8.3 million lb. molybdenum.<\/p>\n<p>The initial indicated resource for Gran Bestia totals 99.4 million tonnes at 0.58 g\/t gold equivalent (0.46 g\/t gold, 0.08% copper, 0.6 g\/t silver and 15.6 ppm moly) for contained metals of 1.5 million oz. gold, 178 million lb. copper, 1.8 million oz. silver and 3.4 million lb. moly.<\/p>\n<p>Inferred resources at Gran Bestia come to 221.2 million tonnes grading 0.49 g\/t gold equivalent (or 0.39 g\/t gold, 0.07% copper, 0.6 g\/t silver and 12 ppm moly) for contained metals of 2.7 million oz. gold, 322 million lb. copper, 4.3 million oz. silver and 5.9 million lb. moly.<\/p>\n<p><em>(This article first appeared in the <\/em><a href=\"http:\/\/www.canadianminingjournal.com\/\"  rel=\"noreferrer noopener\"><em>Canadian Mining Journal<\/em><\/a><em>)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Cangrejos project now holds 468.8 million indicated tonnes grading 0.77 g\/t gold equivalent.<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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