Lupaka Gold Corp.

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  Suite 220 – 800 West Pender Street
Vancouver, BC
Canada V6C 2V6
Tel No.: (604) 681-5900
Fax No.: (604) 637-8794
Web Site: www.lupakagold.com
E-mail: info@lupakagold.com
Contact Person: Gordon Ellis
Position: Chairman

Company Data

Traded Market: TSX-V
Traded Symbol: LPK
Outstanding Shares: approx. 115.4 million
52 Week High: $ 0.29
52 Week Low: $ 0.125
Present Price: Click Here








Lupaka Gold Corp. is a Peru-focused gold explorer and developer with geographic diversification and balance through its interest in asset-based resource projects spread across three regions of Peru.

The Company's portfolio of gold projects has grown to include:

  • Invicta Gold Project: near-term production and cash flow potential; underground mine, capitalizing on former owners' adit and tunnel-work development
  • Crucero Gold Project: open pit; new discovery with a growing resource base; promising exploration potential
  • Josnitoro Gold Project: early-stage exploration greenfield property with promising exploration potential

Projects in Hand

(1) Invicta Gold Project, Huaura Province, Northwest Peru

The Company's 100-per-cent-owned Invicta gold project is a well-developed, polymetallic gold-copper underground deposit located approximately 120 kilometres by road north of Lima. Lupaka has all of the necessary development, infrastructure and mine upgrade contracts in place, and Management expects to commence production in 2017.

Invicta's resource estimates at a 1.30 g/t gold equivalent cut-off:

  • Measured resource estimate: 131,000 tonnes grading 6.65 g/t gold equivalent for 28,000 contained ounces ("ozs") of gold, from: 18,000 ozs Au grading at 4.29 g/t, 133,000 ozs Ag grading at 31.71 g/t, 2,119k lbs Cu grading at 0.73%, 1,110k lbs Pb grading at 0.39% and 1,105k lbs of Zn grading at 0.38%.
  • Indicated resource estimate: 8,513,000 tonnes grading 3.43 g/t gold equivalent for 939,000 contained ozs of gold, from: 573,000 ozs Au grading at 2.09 g/t, 4,285,000 ozs Ag grading at 15.65 g/t, 79,048k lbs Cu grading at 0.42%, 45,171k lbs Pb grading at 0.24% and 53,482k lbs of Zn grading at 0.21%.
  • Inferred resource estimate: 2,534,000 tonnes grading 2.90 g/t gold equivalent for 236,000 contained ozs of gold.
  • Detailed mine plan for six years production prepared by SVS Engineering. Average gold equivalent grade of 8.67 grams per tonne over plan period.
  • Financing is in place to provide US$7,000,000 for start-up of production in late 2017.

Invicta's approved EIA allows for mine production of 1,000 tpd, although the current mining plan is limited to 400 tpd.

Upside Exploration Potential

  • Numerous identified zones (outside of the Atenea Vein) contain an additional 238,000 AuEq in the Measured and Indicated categories
  • The targeted (Atenea) resource could potentially increase as existing development provides access to high-grade intercepts and new underground drill sites
  • Based on the presence of gold and copper within the under-explored quartz-sulfide vein zones, Management and its geological advisors (SRK Peru) believe that the Invicta Gold Project has good potential for expansion of the current resource base
  • Outlier drill holes to the west and north indicate the existence of similar Au grade to that found in the Atenea Vein

(2) Crucero Gold Project, Carabaya Province, Southern Peru

The Company holds a 100% interest in the Crucero Gold Project located in southern Peru. The Crucero Gold Project encompasses 11 identified anomalies within 5,500 hectares of mineral concessions, is an advanced gold exploration project located in the Orogenic Gold Belt of the Eastern Andean Cordillera. Crucero is a recent gold discovery in a newly emerging Peruvian gold district. The city of Juliaca is about 150 km from the Project site, approximately four hours by existing road. Town of Crucero is 45 km from project site. The Project has good existing infrastructure; there is a road to the site and water is available on the property. Electric transmission lines pass within 8 km of the site. The Company has built up good local community relations.

The Project has significant exploration upside as current resource based on only one of 11 identified anomalies.


  • 100% owned
  • Updated resource estimate 2013. Pit constrained economics applied
    • Crucero has an Indicated mineral resource estimate of 1,003,041 ozs Au contained in 30,919,873 tonnes at 1.02 g/t gold (capped) and an Inferred mineral resource estimate of 1,027,806 ozs Au contained in 31,201,648 tonnes at 1.03 g/t gold (capped), at a cut-off grade of 0.4 g/t.
  • Resource estimate contained on the A-1 zone only, with additional anomalies targeted for follow-up
  • Orogenic gold deposit; strong structural control on mineralization
  • Property at an elevation of 4,300 metres
  • Metallurgical optimization test work: 2013 results confirmed gold recovery >80%
  • Accessible by road, access to water, electric transmission lines within 8 km of site

(3) Josnitoro Gold Project, Southern Peru

The Company holds an option to earn a 65% interest on the Josnitoro Gold Project from Hochschild Mining PLC. The Project is located approximately 600 kilometres by road southeast of Lima in the Department of Apurimac, southern Peru, within which lies the Las Bambas mine (MMG Limited) and the Constancia mine (HudBay Minerals). Historical work on the disseminated gold zones includes over 170 shallow drill holes and extensive surface trenching, as well as artisanal mining.


  • Classic copper-gold porphyry setting
  • Central copper skarn is continuous for over four kilometers east-west and has three active small mines extracting 200 to 300 tonnes per day. Grades being transported to processing plants approximate 2.5% copper, 0.5 ounces gold and 14 ounces silver.
  • Disseminated gold outer halos to NW and SE report 3 to 5 grams in trench samples.
  • Gold hosted in quartzite and sandstones
  • Copper skarn mineralization is related to the calcareous formation and associated with the diorite intrusion, which presents the typical garnet-wollastonite-barite-sericite-magnetite-specularite assemblage, with economic Cu-Zn-Pb sulfides contents and important premium in Au


Management and Directors

Gordon Ellis, P.Eng., MBA, CDir, Chairman, Director and Chief Executive Officer

Mr. Ellis has been involved with the mining industry and resource development for over 40 years. He is a former owner/manager of a geophysical exploration consulting firm and has held senior management and director roles with a number of publicly-traded mining exploration and development companies. The last two companies for which he was chairman were acquired by much larger firms in 2003 and 2010.

Darryl F. Jones, CPA, CA, Chief Financial Officer

Mr. Jones is a Chartered Accountant and most recently served as CFO of Corriente Resources (sold to CRCC-Tongguan in May 2010 for C$680 million).

Julio Castañeda, President of Lupaka's Peru Operations

Mr. Castañeda is a geologist with more than 29 years of experience in exploration and exploration management, and is a member in good standing of the Australian Institute of Geoscientists. He is the former Regional Manager for Golden Minerals in Peru and Mexico, and has held senior positions with Barrick Gold and Hochschild Mining.

Brian King, CPA (CGA), Controller

Mr. King has over 15 years of experience as a controller in the junior mining space. Most recently he was Controller with Corriente Resources.

Kathy Scales, Corporate Secretary

Ms. Scales has worked for several public companies in the capacity of corporate secretary and was with Gold Group Mining prior to her current role.

Eric H. Edwards, MBA, Director

Norman Keevil III, P.Eng., Director

Stephen Silbernagel, Director

Lucio Pareja, Director

Luquman Shaheen, P.Eng., Director

Please refer to Lupaka's website www.lupakagold.com for complete biographies.

News Update

On January 22, 2018, Lupaka Gold Corp. has provided an update on operational advancements associated with the Invicta gold development project. Lupaka to start development at Invicta in February.

On August 23, 2017, Lupaka Gold Corp. announced the elimination of the Invicta Gold Project production royalty. The payout and the filing of the royalty termination documents have resulted in the elimination of all existing charges against the Invicta mining concessions. With the anticipated near-term start of production, the elimination of the Invicta royalty reduces related future cash flow drain during operations.


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