SEATTLE (Scrap Monster): Lundin Gold Inc. announced that it has started the near mine exploration program at Fruta del Norte mine in Ecuador. The program is expected to cost the company around $4 million.
According to company press release, the program will focus on targets within and around the existing operation. It will explore sectors in the continuities of the deposit and also along the extension of major structures. It includes over 6,000 metres of drilling from both underground and surface. In addition, it will also carry out new geophysical surveys, geological mapping, and geochemical sampling.
The new near mine exploration program will run in parallel to the ongoing regional exploration program and is in line with the company’s commitment to sustainably grow production and extend the life of the Fruta del Norte mine.
Ron Hochstein, President and CEO commented that he is excited to announce the start of the near mine exploration program. The drilling activities present a good chance to expand the mine apart from discovering satellite deposits close to its infrastructure. The primary objective of the program is to extend the current life of mine and generate significant additional value. The shareholders will be updated on the drill program, he added.