06:32 AM EST, 12/04/2024 (MT Newswires) -- Lundin Gold ( LUGDF ) late on Tuesday released drilling results from Bonza Sur, near its Fruta del Norte gold mine in Ecuador, that confirmed the "significant" size of the mineral deposit.

Drilling has extended the deposit's length by 800 meters to about 2.6 kilometers and widened it to 150 meters, the company said.

Bonza Sur remains open for further discovery in all directions and at depth. Highlights of the results include 2.35 grams per tonne (g/t) gold over 100.3 meters from 333.2 meters, 1.54 g/t gold over 123.5 meters from 72.9 meters, and 1.43 g/t gold over 115.6 meters from 47.4 meters.

The company plans to release an initial mineral resource at Bonza Sur by mid-year 2025.

"The significant and rapid advance of Bonza Sur from an early-stage exploration target to a mineral deposit is an exciting time for Lundin Gold ( LUGDF )," said Lundin Gold President and CEO Ron Hochstein. "Our drilling program continues to highlight the meaningful potential of this new discovery."