Business
Lundin Gold Reports All Time High Quarterly Production of 140,021 Ounces of Gold in First Quarter 2023
VANCOUVER, BC, April 5, 2023 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) ("Lundin Gold" or the "Company") is pleased to report an all-time
About this update from Lundin Gold Inc.
[{"type":"text","content":" VANCOUVER, BC, April 5, 2023 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (\"Lundin Gold\" or the \"Company\") is pleased to report an all-time high quarterly gold production of 140,021 ounces (\"oz\") from its Fruta del Norte gold mine (\"Fruta del Norte\") in southeast Ecuador in the first quarter 2023. Of the total quarterly gold production, 88,236 oz were produced as concentrate and 51,785 oz as doré. During the same quarter in 2022, the Company produced 121,665 oz of gold. Gold sales in the first quarter of 2023 totalled 134,691 oz versus 119,282 oz sold in the same period last year. In the first quarter of 2023, the mill processed 392,332 tonnes resulting in an average throughput rate of 4,359 tonnes per day at an average grade of 12.3 grams per tonne with recoveries of 90.6%. These results are in line with the variability incorporated within the Company's production guidance of 425,000 to 475,000 oz for 2023, as grades and gold production are expected to vary over the coming quarters. Ron Hochstein, President and CEO commented, \"2023 is off to a great start, and I'm extremely happy to announce that record gold production was achieved through an all-time high in recoveries and grade. I'm excited to continue building on the success of the first quarter and look forward to what the rest of the year has to offer.\" Production Results Q1 2023 Q1 2022 Ore processed (tonnes) 392,332 373,407 Average throughput (tonnes per day) 4,359 4,149 Average head grade (grams per tonne) 12.3 11.2 Recovery (%) 90.6 % 90.2 % Gold ounces produced 140,021 121,665 Concentrate 88,236 78,601 Doré 51,785 43,064 Gold ounces sold 134,691 119,282 First Quarter of 2023 Results Conference Call and Webcast Lundin Gold will publish its first quarter of 2023 results on Wednesday, May 10, 2023, after market close in North America. The Company will host a conference call and webcast to discuss its results on Thursday, May 11 at 7:00 a.m. PT, 10:00 a.m. ET, 4:00 p.m. CET. Conference call details and a link to the webcast will be published with the first quarter of 2023 results. Qualified Persons The technical information relating to Fruta del Norte contained in this News Release has been reviewed and approved by Ron Hochstein P. Eng, Lundin Gold's President and CEO who is a Qualified Person under National Instrument 43-10...