Element79 Gold’s (CSE: ELEM ,OTC:ELMGF,FWB:7YS) Lucero gold project in Peru has all the right ingredients for near-term production and quick cash flow: a jurisdiction that offers a simple and quick permitting for small-scale production and a past-producing asset with huge potential for a high-grade resource .
“Peru has one of the most interesting regimes globally, which allows you to go into small-scale production relatively easy … without a big burden on the permitting side,” explained Antonios Maragakis, chief operating officer at Element79 Gold.
The company’s Lucero property in the Shila range of Southern Peru operated as a mine from 1989 to 2005, producing 150 tonnes per day and almost 50,000 ounces of gold per year, according to Maragakis. The area hosted several historic high-grade gold-silver mines throughout the years.
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Element79 Gold Eyes Quick Production, Cash Flow with Lucero Property in Peru