Lumina Gold Corp. (TSXV: LUM) (OTCQB: LMGDF) (the “Company” or “Lumina”) is pleased to announce significant progress regarding power infrastructure required for the Cangrejos gold-copper project (the “Project”). The Company received approval of the definitive feasibility level designs for connection to the national grid for the future energy demand of the Project from Corporación Eléctrica del Ecuador (“CELEC”) on January 15, 2025. The designs include two transformers at the La Avanzada substation dedicated to the Project and the 138 kV single circuit transmission line that will run approximately 20 kilometres from the substation to the Project. Along with these approvals, CELEC has committed to reserve the necessary area required to build the transmission infrastructure at the La Avanzada substation.
Other Project Updates
Ausenco Engineering Canada ULC, the lead engineering contractor for the feasibility study for the Project (the “Feasibility Study”), has completed 92% of the estimated work. The Feasibility Study remains on schedule for completion during Q2 2025. Key components completed include:
- An updated mineral resource estimate, mine plan and schedule;
- Process flowsheet and facility design based on metallurgical testwork;
- Project infrastructure siting, engineering and design;
- Metals marketing study;
- Receipt of vendor quotes; and
- Selection of major project equipment.
The Project team is now focused on developing final capital and operating cost estimates to support the study’s economic model.
Work for the Environmental Impact Study (“EIS”) is progressing on schedule. This work will allow for the submission of the EIS to the Government of Ecuador in mid-2025. Lumina is targeting receiving its Environmental License for the construction and operation of the Project by early 2026.
