06:16 AM EST, 02/19/2025 (MT Newswires) -- Lundin Gold ( LUGDF ) late on Tuesday reported updated estimates of mineral reserves and mineral resources as of Dec. 31, 2024, for the Fruta del Norte gold mine in Ecuador, which are the highest ever published based on contained gold ounces.

Inferred resources increased by 59% to 2.36 million ounces of contained gold from 13.95 metric tonnes with an average grade of 5.27 grams per tonne net of conversion of 0.65 million ounces to measured and indicated.

FDN South was the lead contributor to the growth in inferred resources, increasing contained ounces from 0.73 million ounces in 2023 to 2.09 million ounces from 12.35 Mt with an average grade of 5.25 g/t.

Measured and indicated mineral resources rose to 7.06 million ounces of contained gold from 30.62 Mt with an average grade of 7.17 g/t.

Proven and probable mineral reserves grew to 5.54 million ounces of contained gold from 22.06 Mt with an average grade of 7.81 g/t, after 2024 mining depletion of 0.54 million ounces.