PRESS RELEASE: Lupaka Gold Completes Crucero Project Structural Geology Assessment
(Dow Jones 06.13 13:30:06)
Lupaka Gold Completes Crucero Project Structural Geology Assessment
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 13, 2013) - Lupaka Gold
Corp. ("Lupaka Gold" or "the Company") (TSX:LPK)(LMA:LPK)(FRANKFURT:LQP)
announces that it has completed and received a structural geological context
and interpretation report developed from field work and aerial photo
interpretation conducted by SRK Consulting Toronto ("SRK"). Lupaka Gold
commissioned the report to gain a better understanding of the structural
geology and mineralization controls at its Crucero Gold Project.
"The recommendations made by SRK in our report will be used to help direct
Lupaka Gold's ongoing exploration and field work programs and help us better
understand and target the highest priority anomalies," stated Lupaka Gold
President and CEO Eric Edwards. "Outside of our existing A-1 Zone resource,
the Crucero Project is underexplored, and the studies and recommendations
provided by SRK increase our overall knowledge of the geologic setting and
structural context for our other 10 untested anomalies within the property
boundaries."
The structural interpretation was designed to illustrate the structural
framework of the region and aid in the definition of target areas for
further exploration. The structures interpreted on the high level images of
the Crucero project include regional faulting as well as local and detail
foliations, shear zones, faults, and, subordinately, dykes, veins, joints,
and fold axial traces.
The Company plans to complete detailed field examination to establish the
relative timing and relationship between the individual structures, their
kinematics, and relationship to gold mineralization. The Company will also
be conducting detailed geologic field mapping to confirm and trace visible
sulphide-bearing structures through the Crucero project area. In addition to
the existing resource at the A-1 Zone, visible mineralization is already
identified in the A-5 and A-9 Zones.
As a typical example of orogenic gold mineralization, the known exploration
anomalies at Crucero are believed to be structurally controlled. In addition
to the previously identified exploration targets, a series of other areas of
fault complexity have been defined within the SRK study. These other areas
include an echelon fault system at Lake Chinchalamani, in the Limbani
monzonite, at the border between Aricoma granite and Ananea Group
sedimentary rocks, and within the Aricoma granite. These areas will also be
subjects of future exploration program.
The structural study was undertaken by Dr. Julia Kramer Bernhard who was
supervised by Dr. James Siddorn, P.Geo. Both Dr. Kramer Bernhard and Dr.
Siddorn are appropriately experienced SRK structural geologists who are
independent of Lupaka Gold. They have reviewed and approved the scientific
and technical information contained in this news release and have verified
the underlying the information or opinions contained in this news release.
Crucero Metallurgical Studies' Update
The Company confirms that the current campaign of standard metallurgical
test work procedures is on schedule and, consistent with previous
disclosure, will be completed by the end of June. The data is substantially
complete and is being analyzed for conclusions as well as outlining
recommendations for follow-on work.
About the Company
Lupaka Gold is a well-financed, Peru-focused gold explorer with geographic
diversification and balance through its asset-based resource projects spread
across northern, central and southern Peru.
Lupaka Gold's flagship project is the Crucero Gold Project, its 5,500
hectare gold property is located in the northern part of Puno, a southern
region of Peru. The Company holds a 100% interest through Minera Pacacorral
S.A.C. in the Crucero Gold Project, containing an indicated resource of
1,017,999 gold ounces at 1.01 g/t and an inferred resource of 1,190,526 gold
ounces at 1.00 g/t. Since commencing active exploration in April 2010, the
Company has reported annual NI 43-101 compliant gold resource estimate
increases for the Crucero Gold Project from 2011 to 2013 (see the Company's
most recent technical report on www.sedar.com).
As a result of the Company's recent acquisition of Andean American, Lupaka
Gold's assets also include the 100% owned Invicta Gold Project in the
central Lima region of Peru, which has near-term underground gold, silver
and copper development potential. Lupaka Gold also owns a 17% stake in
Southern Legacy Minerals Inc., owner of the AntaKori copper-gold deposit
located in the northern Cajamarca region of Peru.
Forward-Looking Information
This news release contains "forward-looking statements" and "forward-looking
information" within the meaning of applicable securities regulations in
Canada and the United States (collectively, "forward-looking information").
The forward-looking information contained in this news release is made as of
the date of this news release. Except as required under applicable
securities legislation, the Company does not intend, and does not assume any
obligation, to update this forward-looking information. Forward-looking
information includes, but is not limited to, statements with respect to
mineral resource estimates, future upgrading of mineral resources, that the
structural geological interpretation report will help create future
exploration targets, and related outcomes. Often, but not always,
forward-looking information can be identified by the use of words such as
"plans", "expects, "is expected", "budget", "scheduled", "estimates",
forecasts", "intends", "anticipates", or "believes", or the negatives
thereof or variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might", or "will" be
taken, occur or be achieved.
The forward-looking information contained in this news release is based on
certain assumptions that the Company believes are reasonable, including,
with respect to mineral resource estimates, the key assumptions and
parameters on which such estimates are based, that the current price of and
demand for gold will be sustained or will improve, that general business and
economic conditions will not change in a material adverse manner, that
financing will be available if and when needed on reasonable terms, that
supplies, equipment, personnel, permits and local community approvals
required to conduct the Company's planned exploration and development
activities will be available on reasonable terms, that results of
exploration activities will be consistent with management's expectations and
that the Company will not experience any material accident, labour dispute,
or failure of equipment.
However, forward-looking information involves known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different from
any future results, performance or achievements expressed or implied by the
forward-looking information. Such factors include, among others, risk that
actual results of exploration activities will be different than anticipated,
that cost of labour, equipment or materials will increase more than
expected, that the future price of gold will decline, that the Canadian
dollar will strengthen against the U.S. dollar, that mineral resources are
not as estimated, unexpected variations in mineral resources, grade or
recovery rates, risk of accidents, labour disputes and other risks generally
associated with mineral exploration and unanticipated delays in obtaining or
failure to obtain community, governmental or regulatory approvals or
financing. Although the Company has attempted to identify important factors
that could cause actual actions, events or results to differ materially from
those described in forward-looking information, there may be other factors
that cause actions, events or results to not be as anticipated, estimated or
intended. There can be no assurance that forward-looking information will
prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Readers are cautioned
not to place undue reliance on forward-looking information due to the
inherent uncertainty thereof.
Lupaka Gold Corp.
David Matousek
Investor Relations
+1 (604) 681-5900
www.lupakagold.com
(END) Dow Jones Newswires
June 13, 2013 07:30 ET (11:30 GMT)
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