SEATTLE (Scrap Monster): Lundin Gold Inc. reported total gold production of 428,514 ounces during entire year 2021, thus exceeding the previously announced guidance of 380,000 to 420,000 ounces.
According to company press release, it reported gold production of 107,915 ounces in the fourth quarter of the year from its Fruta del Norte gold mine in Ecuador. Out of the total quarterly gold production, concentrate production totalled 75,299 ounces, whereas 32,616 ounces were produced as dore. It must be noted that the quarterly gold production had totalled 96,830 ounces in Q4 2020.
During the fourth quarter, the mill processed around 379,166 tonnes of ore, at an average throughput rate of 4,121 tonnes per day. The average head grade of ore milled was 9.9 grams per tonne, slightly lower than 10.1 grams per tonne recorded in the same quarter a year before. The average recovery rate improved from 88.6% to 89.7% over the previous year. It must be noted that recoveries have shown improvement in every quarter during the previous year.
Ron Hochstein, President and CEO said that he is extremely happy with the company’s production of over 428,000 ounces of gold in 2021. He acknowledged the team’s hard work at Frute del Norte team for the achievement.