From 2018 to present Anglo American has been the operator of the project:

  • Spent US$26M since 2018 including cash payments
  • Drilled 1,800 metres at the Medusa North target at Pegausus A
  • Anglo American currently owns 25% of the project and can earn up to 60% by spending additional US$15M
  • Ownership can increase to 70% if Luminex is carried to construction decision on a project
  • See Dec 20, 2023 news release for more info: NR23-19


Geology & Location

  • The Pegasus project is located in the Western Cordillera of Ecuador, encompassing a 66,250 ha portion of the Macuchi Formation; a well demonstrated host of Volcanic Massive Sulphide (VMS) deposits among other styles of base and precious metal mineralization
  • The host rocks comprise Cretaceous to Paleocene age island arc ensembles of submarine volcano-sedimentary sequences and lavas of basaltic to dacitic compositions
  • Several mineralized targets have been identified to date as follows: 
    • Porphyry/epithermal/skarn transition (Pegasus A1)
    • Endo-skarn (Pegasus A2)  
    • Porphyry (Pegasus A6)
    • Of these the La Envidia target had been drill tested in 1997 by a third-party company
  • Pegasus A is located 2 km south of the historic Estero Hondo gold mine
  • Pegasus B is loacted adjacent to Salazar Resources’ Curipamba Project which hosts the El Domo deposit (Indicated: 313 Mlbs Cu, 409 Mlbs Zn, 38 Mlbs Pb, 0.58 Moz Au)
  • In Summary, Pegasus represents an under-explored VMS/Skarn district with possible porphyry roots

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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