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."
Q4 2021 FY 2021 Q4 2020 FY 20201
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