Thursday, March 8, 2018

Lupaka Gold Corp. - LPK.v

Lupaka Gold Corp. - LPK.v is a Peru-focused mineral development and exploration company. Top priority is the commissioning of the Invicta gold development project in the Province of Huaura, Peru, 120 kilometres by road from Lima.
On March 1, 2018 the company released NEWS

Lupaka Gold Corp. today announced the results of the Preliminary Economic Assessment (“PEA”) prepared pursuant to National Instrument 43-101 (NI 43-101) on the Company’s 100% owned Invicta Gold Development Project, located 120km north of Lima, Peru.  All values are in US dollars unless otherwise indicated.
Invicta Project PEA Highlights:
  • Updated Mineral Resource Statement of 3.0 million tonnes of Indicated Mineral Resources at 5.78 grams per tonne (“g/t”) gold equivalent ounces (“Au-Eq.”) using a 3.0 g/t Au-Eq. cut-off, and 0.6 million tonnes of Inferred Mineral Resources at 5.29 g/t Au-Eq.
  • Initial 6-year mine plan (underground) designed on a portion of the mineral resource utilizing the existing infrastructure and minimizing capital start-up costs.
  • Sub-level open stope mining producing ~ 670,000 mineable tonnes at 8.6 g/t Au-Eq.* with production of ~ 185,000 Au-Eq. oz (within initial 6-year mine plan)
  • Average annual pre-tax cash flows of $10.2 million, average annual after-tax cash flow of $8.2 million
  • Annual production of 33,700 Au-Eq. oz, during steady state
  • Annual payable metal of 26,700 Au-Eq. oz, during steady state
  • All-in Sustaining Costs of $575 Au-Eq. oz over initial 6-year mine life, average annual pre-tax operating profit of $12.3 million