VANCOUVER (BRITISH COLUMBIA), 28. October 2013. Lupaka Gold Corp. (TSX: LPK, BVL: LPK, FRA: LQP) ("Lupaka Gold" or the "Company") announces that SRK Consulting (Canada) Inc. has created a conceptual Whittle pit to economically limit the resource estimate for to apply the gold project Crucero. A modified and redesigned "Technical Report" under 43 National Instrument 101-43 ("NI 101-22"). October 2013, entitled "Technical Report for the Crucer Property, Carabaya Province, Peru," which contains the resource estimate limited to the pit, was submitted to SEDAR.
Eric Edwards, President and CEO of Lupaka, said, "The new, pit-limited resource for the Crucero Gold Project represents a significant improvement in reliability and quality and includes approximately 90 percent of total, unrestricted gold mineralization." The Resource Estimate was restricted to a conceptual mine shell to make reasonable predictions of economic degradation mandated by the CIM Definition Standards for Mineral Resources and Mineral Reserves and NI 43-101.
The estimated tonnage limited to the pit and the grade of the Crucero gold project are as follows:
To view the full press release please follow the link:
http://www.irw-press.com/dokumente/Lupaka_281013_DE.pdf
The excluded mineralization outside the conceptual pit is at depth and has an average gold grade of 0,71 g / t, which is significantly less than the average grade of tonnage within the mine shell.
SRK Consulting (Canada) Inc. ("SRK Consulting") of Vancouver, British Columbia, helped reduce the resource's economic constraints. The updated reported and inferred mineral resource estimates reported herein are limited to a limited resource pit shroud having 750 meter strike and 360 meter depth.
The parameters used to determine the conceptual pit are given in the following table:
To view the full press release please follow the link:
http://www.irw-press.com/dokumente/Lupaka_281013_DE.pdf
The revised technical report also extends and clarifies other publications of the British Columbia Securities Commission (see 20 News Release, August 2013). Readers are cautioned that the conceptual pit shroud for the resource model described above is not an economic analysis of mineral resources. Mineral resources that are not mineral reserves did not provide economic viability.
Tetra Tech WEI Inc. ("Tetra Tech") of Vancouver, British Columbia, created the resource estimate within the boundaries of the conceptual mine shell identified by SRK Consulting. Greg Mosher is a senior geologist at Tetra Tech, a Qualified Person under National Instrument 43-101 and independent of Lupaka Gold under Section 1.5 of NI 43-101. Mr. Mosher has reviewed and approved the scientific and technical information contained in this news release. Mr. Mosher has verified the technical and scientific information, including sampling, and analysis and test data that underlies this information or opinions in this news release. Mr. Mosher is not responsible for the conceptual pit coat.
Mr. Anoush Ebrahimi is a Principal Consultant of Tetra Tech, a Qualified Person under NI 43-101 and independent of Lupaka Gold under Section 1.5 of NI 43-101. He has reviewed and approved the information in this press release regarding the Conceptual Mine Jacket.
About the company
Lupaka Gold is a well-funded, Peru-focused gold exploration company with geographic diversification through its participation in asset-based resource projects in three Peruvian regions.
On the 30. In September 2013, the company had cash and cash equivalents of approximately $ 5,3 million.
Lupaka Gold's flagship project is the Crucero gold project, its 5.500 hectare property in southern Peru. Headquartered in Vancouver, Canada, the company has an 100% stake in the Crucero gold project.
As a result of the acquisition of Andean American Gold Corp. Through the Company in 2012, Lupaka Gold's assets now include 100's own-owned Invicta (Central Peru) gold project, which has near-term development potential for gold and several other metals, and a strategic 17% stake in Southern Legacy Minerals Inc. , the owner of the AntaKori copper-gold deposit in northern Peru.
FOR MORE INFORMATION, GET THERE ABOUT:
Lupaka Gold Corp.
David Matousek
Investor Relations
+1 (604) 681-5900
and on the company's website at www.lupakagold.com.
Forward-looking information
This press release contains "forward-looking statements" and "forward-looking information" in accordance with Canadian and US securities laws (collectively, "forward-looking information"). The forward-looking information in this news release was made on the date of this press release. Unless required by applicable securities laws, the Company is not required to update this forward-looking information. Forward-looking information includes, but is not limited to, statements regarding mineral resource estimates for the Crucero Gold Project. Often, but not always, forward-looking statements may involve the use of terms such as "plan," "expect," "expect," "budget," "estimate," "project," "intend," "believe," or variations thereof Termini and phrases, or by statements, according to which certain actions, events or results "could", "would" or "will" be identified.
The forward-looking information in this press release is based on certain assumptions that the Company believes are reasonable, including the basic assumptions and parameters on which the mineral resource estimates are based. However, forward-looking information involves known and unknown risks, uncertainties and other factors that could cause the Company's actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to, the risk that mineral resources may not meet estimates and that unexpected deviations from mineral resources, levels, or recovery rates may occur. Although the Company has attempted to identify the important factors that could cause actual events or outcomes to differ materially from those expressed in forward-looking information, there may still be factors that could cause the events or events to occur Results are not as accepted, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate; actual results and future events may differ materially from such statements. Readers should not rely on forward-looking information due to uncertainty.
No liability is assumed for the accuracy of the translation! Please note english original message!
The original English message can be found at:
http://www.irw-press.at/press_html.aspx?messageID=29137
