Cascas Earn-in

In June 2018 Lumina Gold finalized an earn-in agreement with First Quantum on Orquideas and Cascas:

  • The agreement was assigned to Luminex in August 2018
  • First Quantum elected to drop their option on Orquideas in August 2019
  • US$17.3M to be expended between 2018 and 2023 on Cascas as follows:
    • US$10.3M work commitment on Cascas over five years
    • US$7M of staged cash payments with the final payment in 2023
  • First Quantum can accelerate the work and payments at their election

Post completion of the stipulated spending First Quantum will own 51%

  • Ownership can increases to 70% if First Quantum funds the project to construction

For more detailed information please view news release NR:19-12 Aug 7, 2019

For more detailed information please view news release NR:18-08 Jun 21, 2018

For more detailed information please view news release NR:17-09 Oct 26, 2017

 

Cascas Geology & Location:

  • Located 16 km southwest of Orquideas
  • Southern continuation of the prolific Zamora Cu-Au  Metallogenic Belt
  • Two phase porphyry system comprising Cu-Mo and Au anomalies hosted in the Zamora Batholith
  • A 5 km x 2.5 km coincident Cu-Mo anomaly
  • A 3 km x 2.5 km coincident Au-As anomaly

Qualified Person

Leo Hathaway, P.Geo, a "qualified person" within the definition of that term in NI 43-101, has reviewed and approved the scientific and technical information contained on this page.

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