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    Lundin Gold’s Fruta del Norte porphyry corridor: scale and mine planning notes

    July 23, 2026|

    Reviewed by Joe Ashwell

    Lundin Gold’s Fruta del Norte porphyry corridor: scale and mine planning notes

    First reported on MINING.com

    30 Second Briefing

    Lundin Gold has identified two additional porphyry systems, Sandia Northeast and Sandia Southeast, taking the total number of porphyry centres near its Fruta del Norte mine in Ecuador to seven and extending a roughly 5 km mineralised corridor beside the existing high-grade epithermal operation. The Sandia discovery, first outlined in 2025, now has an interpreted footprint of about 1.6 km by 700 metres and 1 km deep, with Jefferies suggesting it could host 500 million to one billion tonnes and remains open to the north, east and at depth. A maiden resource for Sandia is targeted for early 2027, with analysts suggesting a large bulk-tonnage operation here could potentially double Fruta del Norte’s current 475,000–525,000 oz/y gold output within about five years.

    Technical Brief

    • Jefferies pegs Sandia’s maiden resource potential at roughly 500 million–1 billion tonnes, contingent on modelling.
    • Analysts emphasise cut-off grade selection and continuity as key determinants of the eventual tonnage and grade.
    • Deposit remains open to the north, east and at depth, implying further step-out drilling campaigns.
    • Sandia is copper–gold porphyry, providing metal diversification alongside Fruta del Norte’s high-grade epithermal gold orebody.
    • Lundin Gold controls a 55,000-hectare exploration land package around Fruta del Norte, supporting district-scale targeting.
    • Fruta del Norte is currently forecast to produce 475,000–525,000 oz of gold annually at high margins.
    • Jefferies links exploration success directly to Lundin Gold’s long-term valuation, beyond near-term mine cash flows.
    • If scale is confirmed, Sandia could underpin a bulk-tonnage operation, materially extending district mine life and throughput.

    Our Take

    The move from five to seven identified porphyry centres at Fruta del Norte, combined with the 5km mineralised corridor, aligns with earlier coverage of Lundin Gold’s use of agile geoscience and Fleet Space’s ExoSphere platform, suggesting that the current discoveries are the payoff from a more data‑dense targeting strategy rather than incremental step‑outs.

    Jefferies’ 500Mt–1Bt conceptual range for Sandia’s maiden resource potential would, if even partially realised, reposition Fruta del Norte in our gold‑copper database from a single high‑grade underground mine to a district‑scale system with optionality more comparable to large Andean porphyry camps in Chile and Peru.

    With Cobre Panama’s 2023 shutdown still constraining regional copper supply, the emergence of a sizeable copper‑bearing system beside Fruta del Norte in Ecuador gives Lundin Gold leverage in future offtake or streaming negotiations, building on the by‑product silver monetisation already reported in our recent coverage.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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