The asset, discovered in 2006, is expected to produce to 4.6 million ounces of gold over a 15 year mine life. That’s 73,000 ounces more than what was indicated in the previous estimate.
Ecuador Mining News
BHP will gain access to SolGold's Cascabel project, in northern Ecuador, believed to have the potential to become one of the largest copper-gold assets ever discovered.
Companies can now perform non-systematic drilling during the early exploration phase of their mining concessions and without requiring an environmental license.
Company believes its Cascabel copper-gold project, 180 km north of the capital Quito, may become one of the largest copper-gold porphyry systems ever discovered.
Results of the Preliminary Economic Assessment show Cangrejos is one of the world's top 15 undeveloped gold projects based on its average annual production potential.
First Quantum will invest $1.5 million to advance exploration work at the Orquideas and Cascas assets in the first year, with the option of investing an additional $37 million over the course of the subsequent four years covered by the deal.
Up 8% at the open after intersects add more bulk to already massive Cascabel copper-gold project in north of South American country.
A judge from the Ecuadorian province of Cuenca ruled that Ecuagoldmining South America S.A violated article 57 of the country’s Constitution.
The CEO of Fortescue Metals Group said that the company is working towards finding other commodities to mine.
Ecuadorian officials have held talks with several foreign companies about the possibility of building a copper refinery.
Lundin has been developing Fruta del Norte for over a year, following an agreement with Ecuador’s government allowing the miner to move ahead with the gold project, the country's biggest.
Results from 11 of the 12 drilling rigs at its 85%-owned Cascabel copper-gold project, suggest there is much more intense mineralization in the property than thought earlier, the company said.
The project could become the first mine Codelco operates abroad.
“We want to grow to be an at least 1-million-ounce-a-year producer with three to four operations,” said Chief Executive Ron Hochstein at PDAC.
Copper ‘might be the easiest asset to work with:’ Lukas Lundin.
Newcrest to invest $250 million to take stake in Lundin Gold.
Fruta del Norte is expected to produce 340koz of gold per year over 13 years.
And 12.3m contained ounces of gold.
Brisbane-based company promised maiden resource for Cascabel copper-gold porphyry on the Andean belt before the end of the year.
Back in September, the expectation for 2018 was of $488 million in revenues from industrial mining.
The Ecuador-focused miner said it has discovered "promising" new copper prospects at the Porvenir and Timbara projects, with rock chip samples graded up to 4.27% copper.
Outotec has been awarded an order for the delivery of minerals processing technology packages by Lundin Gold for their greenfield project Fruta Del Norte in Ecuador.
The Cascabel project is located in the northern portion of the Andean copper belt in Ecuador, renowned for hosting almost half the world’s copper known reserves.
Having climbed almost 64% since the start of the year, investor sentiment towards SolGold appears to be quite positive.
The placing is at a 15% premium to SolGold's closing price on Thursday and at a 12% discount to its peak share price of 46.75p on May 26.