Lumina Gold Corp (TSX-V:LUM, OTCQX:LMGDF) said it has started drilling at its Cangrejos gold-copper project in southwest Ecuador.
The Vancouver-based company said it initiated the approximately 8,000-metre geotechnical drill program at both the Cangrejos and Gran Bestia deposits.
“The infill resource definition program will commence in September and will include approximately 10,000 metres of drilling. The goal of the program is to convert Probable mineral reserves to Proven mineral reserves for Phase 1 of mining at the Cangrejos deposit. Lumina intends to fund the Feasibility Study work and drilling from the proceeds received from Wheaton Precious Metals,” the company said.
Lumina said it plans to ramp up to 12 drill rigs on site to complete the geotechnical and resource definition program. Completion is expected in the first quarter of 2024 and will produce fresh material for the next round of metallurgical test work to support the Feasibility Study.
Lumina Gold is a precious and base metals exploration and development company focused on the Cangrejos Gold-Copper Project located in El Oro Province, southwest Ecuador.