Lumina Gold Corp. (TSX.V: LUM) has been granted mining title for the Cangrejos 20 concession which is surrounded by Lumina's Cangrejos Project. Lumina was also awarded three highly prospective concessions through an auction process conducted by the Ecuadorian government. The concessions are near Lumina's Condor Project located in the Zamora Province of southeastern Ecuador and include the Tres Pichachos (4,828 Ha), La Canela (3,187 Ha) and Las Orquídeas (4,743 Ha) concessions.
Previous work at the Tres Pichachos and La Canela concessions has demonstrated large, high amplitude gold geochemical signatures based on stream sediments and soils samples which correlate well with regional airborne magnetics interpretation. At Las Orquídeas, a three kilometer-long highly anomalous rock and soil copper-molybdenum anomaly covers a ridge feature. Field observations indicate this may be related to a cluster of porphyry deposits similar to the Company's Santa Barbara deposit which is located in the same district.
The granting of the Cangrejos 20 title is key in the consolidation and development of the Company's mineral holdings in the Cangrejos Gold-Copper district. The additional concessions granted near the Condor Project provide excellent exploration targets in a prolific mineral district where Lumina has large land holdings. Lumina anticipates that the mining titles for the additional concessions will be granted in January 2017.
Source: Lumina Gold
