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Lundin Gold Receives Exploration Permit for High Priority Barbasco Target

Mining News - Published on Tue, 15 Sep 2020

Image Source: Lundin Gold Barbasco Target
Lundin Gold Inc announced that it has received the exploration permit for the Emperador concession, which includes the highly prospective, drill ready Barbasco target. With the receipt of the permit, the Company is now planning a 6,000 metre drill program at Barbasco for mid to late fourth quarter of this year. Prior to the start of drilling, community socialization and implementation of COVID-19 protocols is required. Lundin Gold's President and CEO Ron Hochstein said "Our exploration strategy is focused on our highly prospective land package and receipt of this permit means we can finally drill known targets starting with Barbasco. Our strategy is to systematically explore the Basin as we believe that the geological conditions that led to the formation of Fruta del Norte could also exist elsewhere within this structure."

Barbasco is located approximately seven kilometres south of the Company's Fruta del Norte gold mine in Ecuador, within the 16 km long geological structure known as the Suarez Pull-Apart Basin. The Target is 3.8 km in length and has a similar structural location and orientation within the Basin to Fruta del Norte. Similar to the surface expression of Fruta del Norte, it is defined by soil and rock samples anomalous in the epithermal pathfinder elements arsenic and antimony, illite and marcasite alteration and a ZTEM (resistivity) geophysical survey. Small scale epithermal gold-silver stockwork veins in the Target area have assayed up to 10.4 grams per tonne gold. Barbasco's surface consists of Basin conglomerates and late Fruta del Norte andesite. The drill program will test for mineralization buried below these surface indications in a geological setting very similar to that of Fruta del Norte.

The Emperador concession is 100% owned by Lundin Gold.

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Posted By : Yogender Pancholi on Tue, 15 Sep 2020
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