Lundin Gold in search for new Fruta del Norte
(Kitco News) - Lundin Gold (TSX: LUG) announced today that its 9,000 metre regional exploration drill program has begun, with the first drill hole now in progress on the Barbasco target, located in southeast Ecuador.
The company said its regional exploration program will focus on two high priority targets, Barbasco and Puente-Princesa, to test for mineralization in a geological setting very similar to that of Fruta del Norte.
Barbasco is Lundin Gold's highest priority target and is found on the company's wholly owned Emperador concession, for which an exploration permit was received in September 2020. The target is located approximately 7 kilometres south of the Company's Fruta del Norte gold mine, on the eastern edge of the 16 km long Suarez Pull-Apart Basin structure.
President and CEO Ron Hochstein commented, "Our objective is to find another Fruta del Norte style deposit. We are very pleased to announce the commencement of drilling at Barbasco, our highest priority exploration target. The target's geochemistry, alteration and geology fits the Suarez basin exploration model that led to the discovery of Fruta del Norte in 2006 and has been refined since then. We look forward to keeping our shareholders updated on the drill program and expect initial assay results in the middle of 2021."
Lundin Gold, headquartered in Vancouver, Canada, owns the Fruta del Norte gold mine in southeast Ecuador. Fruta del Norte is among the highest-grade operating gold mines in the world.