(Kitco News) - Lundin Gold (TSX: LUG) today reported significant drill intercepts from its conversion drilling program at its 100% owned Fruta del Norte gold mine in southeast Ecuador.
According to a news release, numerous drill holes returned high grade intercepts - including 12.57 g/t of gold over 101.30 metres (FDN22-229) and 10.76 g/t of gold over 163.20 metres (FDN21-112) - associated with a hydrothermal alteration zone with veins, veinlets and minor breccias or stockwork zones hosted by a volcanic rock domain.
The company said that these results confirm that the mineralized zone extends a further 300 metres past the current Fruta del Norte mineral reserve boundary, confirming wide, consistent nature of mineralization throughout the southern sector and have also generated new targets outside of the resource envelope for further work as part of the company's near mine program.
President and CEO Ron Hochstein, commented, "I am pleased to announce these exciting drill results, which have confirmed the continuity of mineralization along the southern extension of our current inferred resources and will support the completion of a mineral reserve and resource update and subsequent 43-101 report, anticipated to be released in the first quarter of 2023. Additionally, several of these results suggest that Fruta del Norte remains open at depth and underlines the significant potential for resource growth through the near mine exploration program."
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.
