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Algemeen advies 27/01/2023 07:27
VANCOUVER, BC, Jan. 26, 2023 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) ("Lundin Gold" or the "Company") is pleased to announce initial drill results from the 2022 near-mine exploration program at its 100% owned Fruta del Norte ("FDN") gold mine in southeast Ecuador. Results from the drill program identified new mineralized zones to the south and at depth of FDN's currently defined Mineral Resources. Highlights and detailed results are shown below (not true width). View PDF version.

Highlights from holes drilled to the south of FDN:

Drillhole FDN2022-009 intersected 5.11 g/t Au over 30.3m from a depth of 267.7m, including;
9.79 g/t Au over 14.0m from 284.0m
Drillhole FDN2022-006 intersected 3.99 g/t Au over 4.8m from 181.7m, and 4.40 g/t Au over 8.1m from 213.9m
Highlights from holes drilled under the southern portion of the FDN mineral resource envelope:

Drillhole UGE-DD-22-008 intersected 4.11 g/t Au over 23.0m from 197.7m, including;
6.03 g/t Au over 10.0m from 202.7m
Drillhole UGE-DD-22-005 intersected 3.53 g/t Au over 44.9m from 134.8m, including;
5.25 g/t Au over 12.9m from 134.8m, and;
4.32 g/t Au over 15.0m from 164.7m
Ron Hochstein, President and CEO, commented, "These early drill results highlight the significant potential of the largely unexplored area surrounding the FDN mineral resource envelope. Results demonstrate the significant potential of the epithermal system beyond the known limits of the FDN deposit and support our belief that the near-mine program will enable expansion of current Mineral Resources. To advance this objective, we are increasing our near-mine exploration efforts with a minimum of 15,500 metres of drilling in 2023 compared to 8,600 metres drilled in 2022".

The near-mine exploration program was initiated in the third quarter of 2022, and focuses on expanding the FDN mineral resource envelope and testing several unexplored opportunities near the mine site. To date approximately 8,600 metres have been drilled across 16 holes, from surface and underground.

New Mineralized Zone Intercepted to the South of FDN's Mineral Resource Envelope

To the south of the current FDN mineral resource envelope, a surface drilling program continues to explore sectors along the two main controlling structures of the FDN deposit, the East and West faults. Along the southern extension of the East fault a new mineralized zone has been intercepted. Initial promising results suggest continuity of the epithermal system in this southern direction.

This surface drilling program completed nine drill holes in 2022 (see Figure 1), most of them located between 200 and 900 metres south of the FDN mineral resource envelope boundary. Assay results received to date are set out in Table 1. Results for several drill holes are pending.

Most of the drill holes intercepted wide hydrothermal alteration zones of similar characteristics to those found at the FDN deposit. This zone remains open at depth, along strike to the north and to the south, where a gold and epithermal pathfinder elements soil anomaly remains untested (see Figure 1). The 2023 program has already started, with one rig drilling on this new zone and a second rig to be added shortly.

Figure 1: Completed holes from the 2022 near-mine program and location of the new mineralized zone intercepted to the south of FDN

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