- On Monday, Lundin Gold announced its updated mineral reserves and resources estimate as at December 31, 2022 for the Fruta del Norte gold mine in Ecuador.
According to a press release, updated proven and probable reserves for FDN are reported at 18.0 Mt with an average grade of 8.68 g/t containing 5.0 Moz of gold, an increase of approximately 4.2% from the 2016 estimate. Importantly, Lundin noted that expansion of proven and probable reserves into the southern portion of the deposit underlines the significant potential for further reserve replacement from additional drilling in this sector.
“A total of 9.3 Mt with an average grade of 12.09 g/t containing 3.6 Moz of gold are now categorized as measured resources as a result of an improved understanding of the deposit geology. The company reported no estimates of measured resources in the 2016 estimate,” it said.