Lundin Gold Inc. (TSX: LUG, (Nasdaq Stockholm: LUG, OTCQX: LUGDF), a leading gold producer, has announced exciting exploration results near its Fruta del Norte (FDN) gold mine in Ecuador. The findings include high-grade gold intercepts at the FDN South (FDNS) deposit, encouraging progress at FDN East, and the discovery of new copper-gold mineralization at the Trancaloma target.
Drilling at FDNS has yielded the highest-grade intercepts ever recorded at the deposit. Key highlights include drill hole UGE-S-24-212, which intersected 173.98 grams per tonne (g/t) of gold over 8.45 meters, including a section of 572.47 g/t Au over 2.50 meters. Another drill hole, UGE-S-24-213, intersected 77.31 g/t Au over 10.90 meters, including 394.78 g/t Au over 2.10 meters. These results point to significant potential for further resource expansion at FDNS.
Exploration at FDN East has also shown promise, with drill hole FDNE-2024-200 intersecting 3.15 g/t Au over 53.00 meters, including 7.13 g/t Au over 8.40 meters. This marks the widest mineralized interval at FDN East to date and confirms the continuity of gold mineralization in the area.
Meanwhile, initial drilling at the Trancaloma target has identified copper and gold mineralization, with drill hole BLP-2024-195 intersecting 0.25% Cu and 0.08 g/t Au over 407.75 meters, including 0.31% Cu and 0.10 g/t Au over 228.00 meters. Further exploration is planned to assess the significance of this discovery.
Lundin Gold’s President and CEO, Ron Hochstein, expressed his enthusiasm for the exploration program’s success. He stated that the results at FDNS further demonstrate the potential of this key deposit, while ongoing exploration at FDN East and early indications at Trancaloma are also encouraging.
The company’s near-mine exploration strategy focuses on extending the mine’s life by expanding mineral resources at FDN through new discoveries. In 2024, Lundin Gold completed an extensive drilling program of over 80,000 meters across 284 drill holes. The company plans to drill at least 80,000 meters in 2025, primarily targeting the FDNS and Bonza Sur deposits, as well as the Trancaloma target. Currently, 13 rigs are actively drilling.
Lundin Gold is committed to delivering value to its shareholders through operational excellence and growth, while also providing economic and social benefits to communities, fostering a safe workplace, and minimizing environmental impact. The company is focused on continued exploration to identify and develop new resource opportunities for long-term sustainability.
