Lundin Gold Reports Record Mineral Reserves Growth at FDN
Exciting Updates from Lundin Gold at Fruta del Norte Mine
Lundin Gold Inc., a prominent player in the mining industry, recently announced noteworthy updates regarding its mineral reserves and resources at the Fruta del Norte (FDN) gold mine. The highlighted figures reveal a remarkable increase in contained gold ounces, a significant achievement for the company.
Record High Estimates at FDN
In an impressive turn of events, Lundin Gold reported that the estimates for 2024 represent the highest figures ever recorded at Fruta del Norte. This includes marked growth in both measured and indicated mineral resources, coupled with a robust increase in inferred resources. This surge is attributed to targeted exploration and conversion drilling performed in the near-mine area.
Inferred Resources Rise Dramatically
The company stated that inferred resources have soared by a staggering 59%, escalating to approximately 2.36 million ounces of contained gold. This notable increase was primarily driven by contributions from the FDNS sector, demonstrating the efficacy of Lundin Gold's exploration efforts. The increase is underscored by an average grade of 5.27 grams per tonne (g/t), showcasing the high quality of the mineralisation.
Measured and Indicated Resources Update
Additionally, the measured and indicated resources saw a significant boost, now totaling around 7.06 million ounces with an average grade of 7.17 g/t. This reflects Lundin Gold’s commitment to developing resources that contribute to the long-term sustainability of the FDN mine.
Proven and Probable Reserves Growth
Lundin Gold reported a simultaneous increase in proven and probable mineral reserves to approximately 5.54 million ounces, characterized by an average grade of 7.81 g/t. This increase is particularly noteworthy as it occurred despite mining depletion factors, highlighting the effectiveness of the company's resource management strategies.
Future Explorations and Drilling Plans
Ron Hochstein, President and CEO of Lundin Gold, expressed enthusiasm over the findings and the company's future in exploration. With plans lined up for conversion drilling in 2025, the company is optimistic about further enhancing its inferred resources. Hochstein emphasized that the exploration success at FDNS will play a pivotal role in developing more gold resources.
Long-term Visibility for Lundin Gold
Lundin Gold’s approach is not merely about immediate gains; the company is looking ahead towards long-term sustainability. Aligning its exploration and development efforts with international best practices, Lundin Gold aims to continue delivering substantial value to its shareholders while being dedicated to responsible mining operations.
A Commitment to Community and Environment
Incorporating sustainable practices is central to Lundin Gold’s operational philosophy. The company is resolute in offering economic and social benefits to the communities surrounding its operations while minimizing the potential environmental impact. This balance seeks to ensure the longevity of both its operations and the livelihood of local communities.
Conclusion: A Bright Future Ahead
Lundin Gold Inc. is steadily marking its territory as a significant entity in the mining sector. With continuous advancements in resource estimation at Fruta del Norte, it sets a precedent for growth and innovation within the mining industry.
Frequently Asked Questions
What recent updates did Lundin Gold announce?
Lundin Gold revealed record high estimates of mineral reserves and resources, including a significant increase in inferred resources.
How much have the inferred resources increased?
Inferred resources increased by 59%, reaching approximately 2.36 million ounces of contained gold.
What is the average grade of the measured and indicated resources?
The average grade of the measured and indicated resources is approximately 7.17 grams per tonne (g/t).
What is the status of Lundin Gold's proven and probable reserves?
The proven and probable mineral reserves stand at about 5.54 million ounces with an average grade of 7.81 g/t.
What are the future plans for Lundin Gold regarding exploration?
Lundin Gold plans to continue its conversion drilling in 2025 and is optimistic about further enhancing its resources.
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