#Lumina Gold #Cangrejos Project #Ecuador #Canada #Vancouver

Lumina Gold Corp. Reports Major Milestone for the Cangrejos Project

On January 15, 2025, Lumina Gold Corp. (TSXV: LUM) announced a significant achievement in its Cangrejos project located in Ecuador, receiving essential approvals for power infrastructure. This approval is crucial as the company prepares for the project's increasing energy needs in the future. The approval was granted by Corporación Eléctrica del Ecuador (CELEC) and encompasses definitively designed connections to the national grid, which are necessary for ensuring the project's energy supply.

Project Details and Developments

The approved designs comprise the installation of two dedicated transformers at the La Avanzada substation and a 138 kV single-circuit transmission line that will stretch approximately 20 kilometers from the substation to the project's site. CELEC has also committed to reserving the required area for constructing this necessary transmission infrastructure, emphasizing the project's strategic importance to the region’s energy landscape.

In addition to this power approval, Lumina Gold's lead engineering contractor, Ausenco Engineering Canada ULC, has indicated that it has completed around 92% of the feasibility study's required work. This study is projected for completion in the second quarter of 2025, aligning with the timelines set for the various components including:

• - An updated mineral resource estimate,
• - A refined mine plan along with a detailed schedule,
• - A process flowsheet and facility design derived from comprehensive metallurgical testing,
• - Infrastructure siting, engineering, and design,
• - Metals marketing analysis,
• - Receipt of vendor quotes,
• - The selection of significant project equipment.

Currently, the project team is focusing on finalizing capital and operational cost estimates that will support the feasibility study's economic model.

Environmental Impact Assessment

Furthermore, work progresses on the Environmental Impact Study (EIS), which is a critical aspect of the project’s regulatory requirements. This study is expected to be submitted to the Ecuadorian government in mid-2025. Lumina Gold aims to obtain the necessary Environmental License for the project’s construction and operation by early 2026, a milestone that would further propel the Cangrejos project into its development phases.

Company Overview

Lumina Gold Corp. is a metal development company based in Vancouver, Canada, with a primary focus on the Cangrejos gold-copper project situated in El Oro Province, southwest Ecuador. The Cangrejos project is recognized as the largest primary gold deposit in Ecuador, underscoring its importance within the regional mining sector. Lumina is backed by a proficient management team known for effectively navigating the complexities involved in advancing such exploration projects to fruition.

As the project moves into an advanced phase of development, Lumina Gold continues to build upon its robust infrastructure and strategic partnerships, paving the way for its future success in the mining industry. Interested parties can stay updated on developments by following Lumina Gold's profiles on social media platforms like Twitter, LinkedIn, and Facebook, or by visiting their official website. Updates and further news releases will be posted on their website.

Conclusion

In summary, Lumina Gold's recent achievements regarding the power approvals highlight the company’s progress in advancing the Cangrejos project. With the foundational energy requirements being addressed and ongoing feasibility work, Lumina is positioned to continue its trajectory towards operationalizing one of Ecuador's most significant gold-copper projects, ultimately contributing to the nation’s mining industry growth.