TORONTO (miningweekly.com) – Peru-focused explorer and project developer Lupaka Gold has received its certificate of mining (COM) permit at the Invicta gold project, moving the company a step closer to start production by mid-year.
The COM, granted by the Direccion General de Mineria of the Ministry of Energy and Mines (MEM), was one of several permits the project already had in hand, which included a site closure plan, an archaeological certificate, one of two necessary community agreements and a water licence.
Lupaka had now submitted an application for the global licence for explosives from the General Directorate of Arms, Ammunition and Explosives, and would file to amend the company's current environmental impact assessment with the MEM, based on feedback it had previously received from the regulatory authority.
The company expected to receive the explosives licence within the next three weeks.
"We continue to make progress to secure the remaining required permits, licences and community approval for Invicta, as well as toll processing arrangements for Invicta's mineralised rock. This project is supported by an excellent team of local Peruvian professionals and technical consultants, and we are on track to start mining activity at Invicta by mid-year,” president and CEO Eric Edwards highlighted.
The Invicta project contained a polymetallic resource mainly consisting of gold, with copper by-product and, to a lesser degree, lead, silver and zinc.
Lupaka planned to start production at an initial rate of 300 t/d and would, at first, target some of the highest-grade gold and copper mineralisation within the Atenea Vein.
"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,” Edwards stressed.