Gold Production From The Fruta Del Norte Gold Mine

VANCOUVER - Lundin Gold Inc. reported gold production of 107,915 ounces (oz) this quarter, from its Fruta del Norte gold mine in southeast Ecuador, resulting in total gold production of 428,514 oz for the year, exceeding the 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 dore. During the same quarter in 2020, the Company produced 96,830 oz of gold. 

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, said, "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."