TSX:  LMC  $2.68  Gold:  $1269.43/oz
TSX-V: LMC $2.68  Gold: $1269.43/oz

Santa Luz Project

  • Overview
  • Technical Report
  • Feasibility Study
  • 3D Animation
  • Image Gallery
  • Reserves and Resources


Santa Luz is a fully constructed open pit mine and processing plant, which originally commenced production mid-2013 but was placed on care and maintenance in 2014 to focus on optimizing gold recoveries. Subsequently, continuous pilot plant test work was conducted and has confirmed overall gold recoveries of 84% are achievable on a simplified flow sheet. A Feasibility Study was completed in October 2017 by Brio Gold which estimated annual gold production of 100,000 ounces over the mine’s anticipated 10-year mine life, with gold production of 150,000 ounces in the first year.

2017 Feasibility Study Results Summary

  2017 Open Pit Feasibility Study Results 2017 Underground PEA Results
Annual Expected Gold Production 100 koz 62 koz
Estimated Mine life 10 years 9 years
Average Gold Recoveries 84% 84%
Initial Capital Costs* US$82M US$74M
Average Cash Costs* US$776 per oz US$738 per oz
Average AISC* US$812 per oz US$778 per oz
After-tax NPV (5%)* US$208M US$103M

*Based on a Brazilian Real to US Dollar exchange rate of 3.5:1 and a gold price of $1,300 per ounce.

3D Animation

3D Animation

Mineral Resources (December 31, 2017)

Classification Tonnes (kt) Gold grade (g/t) Gold ounces (koz)
Measured 29,900 1.40 1,343
Indicated 9,700 1.96 611
Total Measured and Indicated 39,600 1.53 1,954
Inferred 7,300 2.08 489

See Notes to Mineral Reserves and Resources here

Proven and Probable Mineral Reserves (December 31, 2017)

Classification Tonnes (kt) Gold grade (g/t) Gold ounces (koz)
Proven 25,000 1.43 1,153
Probable 3,200 1.03 106
Total Proven and Probable 28,200 1.39 1,259

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