Lundin Gold grows reserves to 5.5 million oz. gold

Lundin Gold (TSX: LUG) up to date its estimates of reserves and resources for its Fruta del Norte (FDN) gold mine in Ecuador.

Lundin Gold (TSX: LUG) up to date its estimates of reserves and resources for its Fruta del Norte (FDN) gold mine in Ecuador. Proven and possibly reserves comprise 4.5 million oz.. Of gold in 21.7 million tonnes of ore with a median grade of seven.89 g/t gold.

The measured and indicated resources incorporate 7.0 million oz.. In 23.Five million tonnes averaging 9.24 g/t gold.

“With this updated estimate, Lundin Gold has grown FDN’s mineral reserves since operations started in 2019, including approximately 2.6 million oz.. Earlier than mining depletion,” said Lundin Gold president and CEO Ron Hochstein. “Our 2023 conversion drilling application has enabled us to develop our measured and indicated assets, and the near-mine software has also supplied additions to our inferred sources. Based on deliberate conversion and exploration packages for 2024, I am very excited for the capacity to add more ounces over the coming 12 months.”

Much of the motive the M+I resources grew became due to reclassifying inferred fabric to indicated in regions at once past the present day reserve boundary. The new indicated regions include extensions to the north, at intensity, and to the south of the FDN deposit. A overall of 350,000 oz. Of gold was added to the inferred fabric as a result of conversion and near-mine drilling completed in 2023.

The inferred useful resource consists of 1.5 million ounces. Of gold in eight.Zero million tonnes with a grade of 5.77 g/t gold.

Lundin Gold produced 281,273 ounces. From the Fruta del Norte mine in 2023. The all-in sustaining fee in step with ounce of gold offered turned into US$860.

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