VANCOUVER, BC, September 14, 2020 / PRNewswire / – Lundin Gold Inc. (“Lundin Gold” or “Company”) (TSX: LUG) (Nasdaq Stockholm: LUG) is pleased to announce that it has obtained the exploration permit for the Emperor Concession, which includes the very promising Barbasco target in a position to drill (“Barbasco” or “target”). Upon receipt of the permit, the Company is now making plans for a 6,000-meter drilling program in Barbasco until mid-Day Before drilling begins, network socialization and implementation of COVID-19 protocols are required. View PDF
Barbasco is located approximately seven kilometers (“km”) south of the Company’s Fruta del Norte (“Fruta del Norte”) gold mine in Ecuador, on the 16 km long geological path known as the Suarez Traction Basin (“pelvis”) (see Figure 1). The target is 3. 8 km long and has a similar location and structural orientation in the basin up to Fruta del Norte. Similar to the superficial expression of Fruta del Norte, it is explained through soil and rock samples in the arsenic and antimony explorer epithermal elements, alteration of ilite and marcasite, and geophysical survey ZTEM (resistivity). Small-scale gold and silver stockwork epthermal veins in the target domain tested up to 10. 4 grams consistent with a ton of gold. The surface of Barbasco is formed by clusters of the basin and andesita vencida of the Fruta del Norte. The drilling program will check the mineralization buried under these surface indications in a geological environment very similar to that of Fruta del Norte.
“Our exploration strategy is targeting our very promising terrain and obtaining this permit means that we can still drill known targets starting with Barbasco,” said Ron Hochstein, president and CEO of Lundin Gold. “Our strategy is systematically. ” We explored the basin because we think that the geological situations that led to the formation of Fruta del Norte may also exist elsewhere within this structure.