VANCOUVER, BC, Jan. 10, 2022 /CNW/ - Lundin Gold Inc.
(TSX: LUG) (Nasdaq Stockholm: LUG) ("Lundin Gold" or the
"Company") is pleased to report fourth quarter 2021 gold
production of 107,915 ounces ("oz") from its Fruta del Norte gold
mine ("Fruta del Norte") in southeast Ecuador, resulting in total gold production of
428,514 oz for the year, exceeding the Company's 2021 guidance of
380,000 to 420,000 oz. Of the total quarterly gold production,
75,299 oz were produced as a concentrate and 32,616 oz as doré.
During the same quarter in 2020, the Company produced 96,830 oz of
gold. view PDF version
In the fourth quarter of 2021, the mill processed approximately
379,166 tonnes at an average throughput rate of 4,121 tonnes per
day ("tpd"), the average grade of ore milled was 9.9 grams per
tonne, and average recovery was 89.7%. Recoveries have improved
every quarter during 2021.
Ron Hochstein, President and CEO
commented, "I am extremely happy with our production of over
428,000 oz of gold in 2021, Fruta del Norte's first full year of
operations. This achievement would not have been possible without
our team's hard work at Fruta del Norte that resulted in
improving recoveries and completing the plant expansion on time and
on budget to increase the average plant throughput from 3,500 tpd
to 4,200 tpd. 2021 was a successful year for Lundin Gold, and I look forward to another
strong year in 2022."
Production Results
|
Q4
2021
|
FY
2021
|
Q4
2020
|
FY
20201
|
Ore processed
(tonnes)
|
379,166
|
1,415,634
|
337,146
|
905,780
|
Average throughput
(tonnes per day)
|
4,121
|
3,878
|
3,665
|
3,355
|
Average head grade
(grams per tonne)
|
9.9
|
10.6
|
10.1
|
9.5
|
Recovery
(%)
|
89.7%
|
88.6%
|
88.6%
|
85.9%
|
Gold ounces
produced
|
107,915
|
428,514
|
96,830
|
242,400
|
Concentrate
|
75,299
|
289,499
|
56,900
|
161,300
|
Doré
|
32,616
|
139,015
|
39,930
|
81,100
|
Year End 2021 Results Conference Call and Webcast
Lundin Gold will publish its year
end 2021 results on Wednesday, February 23,
2022, after market close in North
America. The Company will host a conference call and webcast
to discuss its results on Thursday, February
24 at 8:00 a.m. PT,
11:00 a.m. ET, 5:00 p.m. CET. Conference call details and a link
to the webcast will be published with the year end 2021
results.
Qualified Persons
The technical information relating to Fruta del Norte contained
in this News Release has been reviewed and approved by Ron Hochstein P. Eng, Lundin Gold's President and CEO who is a
Qualified Person under National Instrument 43-101.
About Lundin Gold
Lundin Gold, headquartered in
Vancouver, Canada, owns the Fruta
del Norte gold mine in southeast Ecuador. Fruta del Norte is among the
highest-grade operating gold mines in the world.
The Company's board and management team have extensive expertise
in mine operations and are dedicated to operating Fruta del Norte
responsibly. The Company operates with transparency and in
accordance with international best practices. Lundin Gold is committed to delivering value to
its shareholders, while simultaneously providing economic and
social benefits to impacted communities, fostering a healthy and
safe workplace and minimizing the environmental impact. The Company
believes that the value created through the development of Fruta
del Norte will benefit its shareholders, the Government and the
citizens of Ecuador.
Additional Information
The information in this release is subject to the disclosure
requirements of Lundin Gold under
the EU Market Abuse Regulation. This information was publicly
communicated on January 10, 2022 at
2:00 p.m. Pacific Time through the
contact persons set out below.
__________________________
|
1 FY
2020 is the entire year's production, including the pre-commercial
production period from January 1 to February 28. Also note
that the operations at Fruta del Norte were suspended during Q2
2020 due to the COVID-19 pandemic.
|
SOURCE Lundin Gold Inc.