- Lundin Gold Inc. (TSX: LUG) released additional results from its Fruta del Norte gold mine in southeast Ecuador
- Drilling in Q2 2023 returned high grade results, while the near-mine program advanced the Bonza Sur and Fruta del Norte South targets yielded encouraging drilling intercepts confirming their significant prospectivity.
- Lundin Gold has been advancing its conversion program at Fruta del Norte, with the objective of converting mineral resources to mineral reserves
- Lundin Gold Inc. opened trading at C$16.73 per share
Lundin Gold Inc. (TSX: LUG) released additional results from its Fruta del Norte gold mine in southeast Ecuador.
Drilling in Q2 2023 returned high grade results, while the near-mine program advanced the Bonza Sur and Fruta del Norte South targets yielded encouraging drilling intercepts confirming their significant prospectivity.
Underground conversion highlights
- Drill hole FDN-C23-016 intersected 10.19 g/t gold (Au) over 23.3 metres from 9.0 metres and 7.58 g/t Au over 21.5 metres from 191.5 metres
- Drill hole FDN-C23-021 intersected 12.48 g/t Au over 15.6 metres from 7.0 metres and 20.08 g/t Au over 12.8 metres from 31.7 metres
- Drill hole FDN-C23-025 intersected 22.95 g/t Au over 16.4 metres from 10.2 metres, including:
- 77.18 g/t Au over 1.9 metres
- Drill hole FDN-C23-028 intersected 11.33 g/t Au over 35.0 metres from 69.0 metres, including:
- 76.04 g/t Au over 4.0 metres
Near-mine surface exploration highlights
- Drill hole FDNS-2023-024 (at FDNS) intersected 11.54 g/t Au over 7.1 metres from 412.4 metres, including:
- 76.5 g/t Au over 1.0 metre
- Drillhole BLP-2023-025 (at Bonza Sur) intersected 7.59 g/t Au over 5.1 metres from 212.9 metres, including:
- 12.43 g/t Au over 2.1 metres
- Drillhole BLP-2023-026 (at Bonza Sur) intersected 4.53 g/t Au over 8.8 metres from 264.7 metres, including:
- 7.36 g/t Au over 2.0 metres from 264.7 metres
- 7.13 g/t Au over 2.0 metres from 271.5 metres
Lundin Gold has been advancing its conversion program at Fruta del Norte, with the objective of converting mineral resources to mineral reserves. The near-mine program focuses on exploring sectors located along trend of the Fruta del Norte deposit and within extensions of its major controlling structures.
The company’s president and CEO, Ron Hochstein explained in a news release that the conversion program has successfully defined zones of high-grade mineralization within the Fruta del Norte deposit that the team expects will continue converting resources to reserves.
“Results from the near-mine program confirm the continuity and expansion potential of recent discoveries, Bonza Sur and Fruta del Norte South, and improve our understanding of their mineralization geometry. Nine rigs are currently turning on our conversion and exploration programs and a minimum of 43,000 metres of drilling are planned in 2023. This represents the largest drill program in the district since 2007,” Hochstein said in a statement.
The near-mine exploration program has also discovered new targets of interest through a detailed geological interpretation of exploration data and additional surface work. A drill program was initiated in the second quarter and aims to test the high potential targets near the Fruta del Norte deposit.
Lundin Gold is a Canadian mining company focused on its Fruta del Norte gold operation and developing its portfolio of mineral concessions in Ecuador. One of the earliest major gold mines operating in Ecuador, the government had stated on record that it expects four major mining projects to start production by 2025.
Lundin Gold Inc. opened trading at C$16.73 per share.
Join the discussion: Find out what everybody’s saying about this stock on the Lundin Gold Bullboard, and check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.