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An update from Lundin Gold ( (TSE:LUG) ) is now available.
Lundin Gold has reported strong results from near-mine porphyry exploration around its Fruta del Norte gold mine in Ecuador, highlighted by the Sandia target delivering its highest-grade intercept to date, including 322.3 metres grading 1.08% copper equivalent. The company has now delineated several large, shallow copper-gold porphyry systems at Sandia, Trancaloma, Trancaloma West, and Castillo, significantly expanding their footprints and confirming robust mineralization continuity.
The newly confirmed Chontas discovery, located 7 kilometres south of Fruta del Norte and Trancaloma, establishes a fifth porphyry centre and extends the mineralized corridor from 5 kilometres to at least 10 kilometres. Management says these results underscore the scale and emerging district potential of the copper-gold belt adjacent to Fruta del Norte, with multiple drill rigs active as Lundin Gold works to define a large porphyry district that could enhance the mine’s long-term growth profile.
More about Lundin Gold
Lundin Gold Inc. is a Canadian mining company focused on the exploration, development, and operation of gold and copper-gold deposits, principally in southeast Ecuador. Its flagship asset is the 100%-owned Fruta del Norte underground gold mine, around which the company is advancing a broader copper-gold porphyry district with multiple near-mine targets.
See more insights into LUG stock on TipRanks’ Stock Analysis page.