Fruta del Norte mine produces 94,250 oz in first full quarter

13.10.2020, 21:16 - eeppo

Lundin Gold’s (TSX: LUG) Fruta del Norte gold mine in Ecuador produced 94,250 ounces of gold during the third quarter of 2020, which was the mine’s first full quarter of operations.

Approximately 66,790 ounces were produced as a concentrate and 27,460 ounces as doré.

During the quarter, the mill processed approximately 324,000 tonnes at an average throughput rate of 3,340 tonnes per day. The average grade of ore milled for the quarter was 10.4 grams per tonne, and average recovery was 86.8%.

The underground mine, which produced its first gold in November 2019 and achieved commercial production in February 2020, was suspended over a three-month period earlier this year due to the covid-19 pandemic.

In July, Lundin resumed operations at Fruta del Norte and set its production guidance at 150,000 to 170,000 ounces for the second half of 2020.

Together with production achieved prior to the onset of the temporary suspension, total gold output for the year is estimated to be between 200,000 and 220,000 ounces.

Over a 13-year mine life, the operation is expected to produce an average of 325,000 ounces of gold annually at an AISC of $621 per ounce.