Fruta del Norte

Lundin Gold Inc.




2019 / 01 / 18




0.9% NSR

The Fruta del Norte gold project is located in southeast Ecuador about 139 kilometres east-northeast of the City of Loja. The majority of the project area lies in the highlands south of the Zamora River and east of the Nangaritza River in the Condor mountain region. The Fruta del Norte (FDN) deposit is an intermediate-sulphidation epithermal gold-silver deposit measuring approximately 1,670 metres along strike, 700 metres down dip and between 150 metres and 300 metres wide. The structure that hosts the FDN deposit is a Jurassic aged structural zone termed the Suárez pull-apart basin.

Historical work carried out by prior owners including Aurelian Resources Inc., and Kinross Gold Corporation, enabled Lundin Gold to move quickly towards a Feasibility Study and ultimately a production decision after acquiring FDN in late 2014. Over the next five years, Lundin Gold advanced the project to mine construction, reaching first gold production in November 2019. Commercial production was achieved in February 2020.

Lundin Gold has completed several drill programs since 2015. Mapping, geochemical sampling and permitting required for future drilling continues at multiple epithermal gold-silver targets to be explored inside and outside of the Suárez basin structure.

In 2024, Lundin Gold announced updated Mineral Reserves for the Fruta del Norte mine. As of December 31, 2023, current Proven and Probable Mineral Reserves contain 5.5 Moz of gold in 21.7 Mt at a grade of 7.9 g/t (4.0 and 5.3 g/t cut-off grade based on mining method).

Recent Activity

    April 2024

    Positive near-mine drilling intercepts were achieved at Bonza Sur and in extensions at depth of the FDN deposit, while a new high-grade discovery has been made to the east of FDN. Further, the conversion drilling program advanced within the north sector of the FDN deposit and returned wide, high-grade intercepts in areas adjacent to where operations are currently taking place. These positive results for both the near-mine and conversion drilling programs support the continued organic growth potential at FDN.

    December 2023

    Lundin Gold anticipates that production at Fruta del Norte will increase to 5,000 tpd by the end of 2024. A planned 56,000 m program will focus on exploring the highly prospective land at and near the mine.

    November 2023

    A total of 11,233 m of underground drilling from 79 drill holes was completed as part of the 2023 conversion program at Fruta del Norte. The results are being incorporated into the geologic model and will be included in an updated resource estimate, expected to be completed in Q1 2024.

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