LUM:CC - Lumina Gold draws down funds to wrap up resource and metallurgical drilling

(NewsDirect)

Lumina Gold Vice President of CorporateDevelopment and Communications Scott Hicks joined Steve Darling fromProactive to share significant developments regarding thecompany's precious metals purchase agreement.

Lumina Gold has drawn down a total of$16.7 million under the previously announced $300 million agreement.These funds will enable the company to continue its resourcedefinition and metallurgical drilling efforts, slated to commence inDecember.

These activities arecrucial in supporting the Feasibility Study for Lumina's Cangrejosgold-copper project in southwest Ecuador. The company has ambitiousplans to deploy up to twelve drill rigs on-site to complete thegeotechnical and resource definition program, with an expectedcompletion date in Q1 2024.

Additionally, the drilling program will provide fresh materialfor the upcoming round of metallurgical test work, further supportingthe Feasibility Study.

These advancements underscore LuminaGold's commitment to the successful development of the Cangrejosproject and its mission to unlock the project's full potential.

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