Feb 26 2015
Lupaka Gold Corp. has received its Certificate of Mining ("COM") permit at the Invicta Gold Project.
The COM was granted by the Direccion General de Mineria of the Ministry of Energy and Mines ("MEM") under the existing federal EIA permit for Mine Operations. The Invicta project also has a site closure plan, an archeological certificate, one of two necessary community agreements, a water license, as well as other licenses and certificates in place.
With the receipt of the COM, the Company has submitted its application for the Global License for Explosives from the General Directorate of Arms, Ammunition and Explosives ("SUCAMEC"), and will file to amend the Company's current EIA with the MEM, including modifying the application in response to all observations previously received from the MEM. The Company expects that the Explosives license will be received in due course within the next 3 weeks.
Mr. Eric Edwards, President and CEO of Lupaka Gold commented, "We continue to make progress to secure the remaining required permits, licenses and community approval for Invicta as well as toll processing arrangements for Invicta's mineralized rock. This project is supported by an excellent team of local Peruvian professionals and technical consultants, and we are on track to commence mining activity at Invicta by mid-year 2015."
The Invicta Gold Project contains a poly-metallic resource primarily comprised of gold with accessory copper and, to a lesser degree, lead, silver and zinc. As reported on March 17, 2014, the Company intends to commence production at an initial rate of 300 tpd, and initially target some of the highest grade gold and copper mineralization within the Atenea Vein.
Mr. Edwards re-emphasized the Company's exploration vision, "Our present efforts are primarily focused on getting the Invicta Gold Project into production and generating positive cash flow. However, we remain committed to delivering the full exploration upside of our Invicta, Josnitoro and Crucero Gold Projects as available cash resources allow."
Source: http://www.lupakagold.com/