Lundin Gold (TSX: LUG) has encountered substantial gold mineralization as part of a 2025 drill program that was centered on converting mineral resources into an initial mineral reserve estimate at Fruta Del Norte South. At the same time, exploration drilling has also encountered significant mineralization, confirming that the mineralized system is larger than previously modeled.
Highlights from the results include:
- FDN-C25-305: 491.62 g/t gold over 5.20 metres from a depth of 40.6 metres
- Including 2,286 g/t gold over 1.10 metre
- FDN-C25-259: 33.71 g/t gold over 6.3 metres from a depth of 38.9 metres
- FDN-C25-260: 41.46 g/t gold over 6.30 metres from a depth of 59.6 metres
- FDN-C25-261: 22.76 g/t gold over 10.50 metres from a depth of 80.0 metres
- Including 83.38 g/t gold over 1.95 metres
- FDN-C25-325: 55.78 g/t gold over 3.15 metres from a depth of 283.5 metres
- UGE-S-25-338: 23.23 g/t gold over 7.70 metres from a depth of 51.4 metres
- UGE-E-25-328: 14.10 g/t gold over 10.8 metres from a depth of 332.0 metres
Drilling under the conversion program is said to have confirmed gold mineralization while defining new zones within the main vein system. Drilling under the program had targeted existing inferred resources, with the program said to be sufficient to support the release of an initial reserve estimate in the first quarter of 2026.
Exploratory drilling meanwhile has seen Fruta Del Norte South expand the limits of the deposit, while confirming a larger mineralized system. Drill testing at Fruta Del Norte East meanwhile has identified an emerging epithermal vein-type deposit 100 metres to the east of current underground infrastructure at FDN. Multiple subparallel veins are said to extend 500 metres along the north-south direction while remaining open for expansion.
“At FDNS, the conversion program achieved the highest-grade intercept ever drilled, a major milestone as we advance toward an initial Mineral Reserve estimate early next year–less than two years since discovery. Exploration drilling also confirms that FDNS is a larger mineralized system and now, FDN East emerges as a new epithermal vein deposit near existing infrastructure, offering meaningful upside,” commented CEO Jamie Beck.
“Based on these successes as well as the results on the emerging porphyries, we expanded our 2025 drilling program to a minimum of 120,000 metres with 17 rigs, the largest program ever undertaken on the FDN land package.”
Lundin Gold last traded at $104.18 on the TSX.
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