“These results demonstrate the exceptional value we have added through our conversion drilling program. Importantly, there are still 1.7 million ounces of inferred resources at FDN, which we believe will play a significant role in continuing to replace production in the future,” Lundin Gold CEO Ron Hochstein said in a news release.
Proven and probable reserves for Fruta del Norte are reported at 18 million tonnes with an average grade of 8.68 g/t containing 5 million ounces of gold. With this update, Lundin has effectively replaced all reserves mined (1.38 million ounces) from the beginning of operations in late 2019 while adding additional reserves (1.58 million ounces).
The new estimate includes reserves in the proven category, which demonstrates greater confidence in the updated reserves. The conversion drilling program have contributed to an improved understanding of the geological and grade continuity at FDN, allowing…
