Lumina Gold Corp (TSX-V:LUM, OTCQB:LMGDF) has accessed US$16.7 million through its precious metals purchase agreement with a subsidiary of Wheaton Precious Metals Corp (LSE:WPM, TSX:WPM, NYSE:WPM) to carry out exploration at its Ecuador Cangrejos gold-copper project to support an upcoming feasibility study.
The company’s vice president of corporate development and communications Scott Hicks told Proactive that the feasibility study is expected late in the first quarter of 2025.
“We’ll have periodic updates on the feasibility study throughout 2024,” he said.
He said the company had put in a real push to complete the fieldwork supporting the study by the year-end, with its team and community members working at the project to move drill rigs around, get pads built and so on.
“It’s been a full press effort over the last four months to get it all done,” he said.
“We started drilling again for the feasibility study in August, it was about an 18,000-meter program,” he said. “We plan on wrapping that up here just before Christmas and all that fieldwork will go into the feasibility study.”
Lumina Gold is a Vancouver, Canada-based company focused on the Cangrejos gold-copper project located in El Oro Province in southwest Ecuador.
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