Positive results from ongoing 2024 exploration program indicates Bonza Sur continues to grow and the potential to extend FDN at depth


FDN long section showing underground exploration drilling results (Credit: CNW Group/Lundin Gold Inc.)

Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) (“Lundin Gold” or the “Company”) is pleased to announce initial results from its ongoing 2024 near-mine exploration and conversion programs at its 100% owned Fruta del Norte (“FDN”) gold mine in southeast Ecuador. 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. Furthermore, 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.  Highlights from the near-mine and conversion programs are outlined below.

Near-Mine Exploration Highlights (not true widths):


Drill hole BLP-2024-101 (at Bonza Sur) intersected 32.31 grams per tonne (“g/t”) of gold (“Au”) over 14.50m from 74.0 m, including:442.16 g/t Au over 1.0 m
Drill hole UGE-DD-24-089 (at FDN Depth) intersected 8.62 g/t Au over 19.9 m from 97.7 m and 12.04 g/t Au over 11.8 m from 264.90 m including:21.4 g/t Au over 5.9 m
Drill hole UGE-E-24-094 (at FDN East) intersected 76.95 g/t Au over 5.0 m from 156.1 m, including:349 g/t Au over 1.1 m
Drill hole FDNE-2023-064 (at FDN East) intersected 12.35 g/t Au over 6.4 m from 823.0 m, including:29.37 g/t Au over 2.6. m
Conversion Drilling Highlights (not true widths):

Drill hole FDN-C24-084 intersected 14.61 g/t Au over 63.6 m from 103.4 m, including:28.48 g/t Au over 29.9 m
Drill hole FDN-C24-083 intersected 10.04 g/t Au over 61.8 m from 14.9 m, including:16.72 g/t Au over 24.8 m
Drill hole FDN-C24-086 intersected 14.84 g/t Au over 28.6 m from 160.6 m, including:30.97 g/t Au over 6.0 m
Ron Hochstein, President and CEO, commented, “I am pleased to announce initial results from Lundin Gold’s 2024 near-mine exploration and conversion drilling programs. The intercepts continue to enhance our confidence in the exploration potential of the district with a growing pipeline of discoveries around FDN supporting our ability for future resource growth. Our conversion program has also successfully defined zones of high-grade mineralization within the FDN deposit that we expect will lead to continued conversion of Mineral Resources to Reserves. Ten rigs, three underground and seven on surface, are currently turning on our conversion and exploration programs and a minimum of 65,000 metres of drilling are planned in 2024 representing the largest drilling program ever conducted on the land package that hosts FDN”.


The 2024 near-mine drilling program will focus on three main objectives: extending the FDN deposit at depth and to the south, advancing the delineation of Bonza Sur and exploring for new near-mine discoveries, including at FDN East (see Figures 1, 2 and 3). During the first quarter of 2024 surface drilling was focussed on Bonza Sur and the new FDN East discovery. Drilling at FDN South and other targets will be completed later in the year.

Initial drill results continue to confirm the potential for possible future resource upside. A total of 12,313 metres across twenty-six holes, from surface and underground, have been completed in 2024. Assay results are presented in Tables 1 and 3 at the end of this release. Results are still pending for some drill holes.

Source: Company Press Release