- Ownership 100%
- 30 additional concessions
- Totaling 119,930 hectares
- Lumina now 2nd largest concession holder in Ecuador
- Two earn-in agreements with large scale mining partners to advance certain concessions
- First Quantum - US$38.5M over 5-years to earn-in on Orquideas and Cascas
- Anglo American - US$57.3M over 7-years to earn-in on Pegasus A & B
On April 19th Lumina announced the granting of 13 new concessions by the Ecuadorian Ministry of Mining, covering 40,647 hectares. These concessions, which are spread throughout the country, are in addition to the ones that were announced on November 16, 2016 and December 22, 2016. The new concessions, which were awarded through the Government’s auction process, consolidate Lumina’s position along trend with its existing Condor project, Lundin Gold’s Fruta del Norte project and Tongling’s Mirador project. Concessions on the prolific northwest oriented Apuela Batholith, close to world class discoveries such as Codelco´s Llurimagua and SolGold´s Cascabel, are expected to add additional value to Lumina’s prospective portfolio. The following map outlines Lumina’s new and previously existing concessions in Ecuador.
Since being granted these concessions, Lumina has entered into two separate earn-in agreements with First Quantum Minerals and Anglo American to advance the Cascas, Orquideas and Pegasus A&B concessions. Find our more details by clicking on First Quantum agreement or the Anglo American agreement.
The Macuchi VMS Metallogenic Belt
Lumina has assembled three large concession packages, totaling 86,300 hectares, encompassing submarine arc volcanic rocks of the Paleocene to Eocene Macuchi formation, prospective for VMS and skarn gold styles of mineralization. The Company holds the Pegasus A, Pegasus B and the Palma Real concessions in this belt.
- Pegasus A / Pegasus B (66,525 ha)
- Palma Real (19,775 ha)
The Zamora - Morona Santiago Copper-Gold Metallogenic Belt Concession Areas
Lumina holds title to twelve mineral exploration concessions, totaling 33,630 hectares, that are on trend with its Condor project. These concessions discontinuously span 170 kilometers of the prolific Zamora Copper-Gold Metallogenic Belt. This area is prospective for porphyry copper-molybdenum-gold-silver, epithermal gold-silver, as well as skarn gold and copper styles of mineralization.
- Cascas (9,998 ha)
- La Canela and Tres Picachos (8,015 ha)
- Tarqui and Quimi (7,548 ha)
- Orquideas (4,743 ha)
- Yawi (1,494 ha)
- Escondida (1,204 ha) - contiguous with Condor, included in 10,101 ha Condor area
- Santa Elena (628 ha) - contiguous with Condor, included in 10,101 ha Condor area
for more detailed information please view news release NR:17-04 April 19, 2016