Lupaka nears production at Invicta

Lupaka Gold (TSXV: LPK) has tabled a positive preliminary economic assessment of its fully funded, 316 sq. km Invicta underground gold-copper project in Peru, 120 km north of Lima. It aims to begin production by the end of 2018 with low start-up costs and then expand its operation with the ensuing cash flow. Its initial six-year mine plan outlines a 350 tonnes per day operation on a small but high grade subset of Invicta’s Atenea vein through sub-level long hole open stoping via an adit on the project’s existing underground structure, 3,400 metres above sea level. “The resource has enough in the indicated category to support 24 years of mining at 350 tonnes a day, but that’s not what we want to accomplish in the long run,” Lupaka president and CEO Will Ansley says in a telephone interview with The Northern Miner. “We need to get in there and show the community that we’re a good operator and a good partner and we value them, and then we can expand production and ultimately build a plant on site. That’s the goal.” Lupaka is not the first company to try to initiate production at Invicta. … Continue reading at The Northern Miner.