Tag: Ecuador mining

Titan reinstated as Jerusalem Gold owner

Titan reinstated as Jerusalem Gold owner

Titan Minerals (ASX: TTM) has announced that it has been reinstated by the Ecuadorian Ministry of Mines as owner of the of the Jerusalen Concession (Jerusalem Gold Project). The Jerusalem project is an excellent addition to TTM’s existing resource base. The new project has an existing foreign resource estimation of 1.28moz gold averaging 14.5g/t and 8.6moz silver averaging 98g/t. While not a JORC-compliant resource, the company believes the foreign estimate is sufficiently reliable due to acceptable estimation methodologies and data compilation. The company stated this had provided the basis for a decision to deem the property to have merit for further exploration expenditure but is not of a quality to underpin any economic reviews. Therefore, Titan confirmed the categories of…

Newcrest spends big on Lundin

Newcrest spends big on Lundin

Fruta del Norte mine is currently under construction with first gold expected in late 2019. Image: Lundin Gold. BY ELIZABETH FABRI NEWCREST will invest $US250 million to acquire a 27.1 per cent interest in Canadian miner Lundin Gold, which is developing the Fruta del Norte gold project in South East Ecuador. The 340,000 ounce per annum Fruta del Norte project, currently under construction, is aiming for first production by the end of 2019. Under the deal, Newcrest has the right to appoint two directors to the Lundin Gold board, and one of its nominated directors to a project advisory committee that will oversee Fruta del Norte development. The companies have also signed a binding Heads of Agreement to form a…