Lundin Gold (TSX: LUG; US-OTC: LUGDF) aims to fold the Fruta del Norte South (FDNS) and FDN East zones into the Fruta del Norte mine plan in its next reserve and resource update targeted for the first quarter, outgoing CEO Ron Hochstein said.
Amendments to existing permits are to accommodate mining the new zones rather than requiring new approvals because the targets sit inside the operating footprint, the executive said last month during the Mining Forum Americas.
“We’ve got the engineering well underway and, when we do our reserve and resource update in Q1, FDNS will be part of the new mine plan,” Hochstein told The Northern Miner’s Western Editor, Henry Lazenby.
Drilling has also outlined what the company describes as a 5 km copper-gold porphyry corridor 1.5 km east of the mine at Eva, Sandia and Castillo, with broad intervals around 0.5% copper-equivalent from surface to 800–900 metres depth. Five rigs are turning on the helicopter-supported program and Hochstein said success could be “transformative” given its closeness to existing infrastructure.
Hochstein will make way for Jamie Beck as CEO on Nov. 7 after a decade that saw Fruta del Norte become one of the world’s lowest-cost gold operations.
Watch the full interview below:
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