Lundin Gold reports 204.26 g/t gold over 3.05m at Bonza Sur

Lundin Gold Inc. TSELUG OTCMKTSLUGDF reported Thursday that Bonza Sur hole BLP-2026-553 cut 3.05 metres grading 204.26 grams per tonne gold at its Fruta del Norte property in Ecuador. Its Sept. 24 release called this the deposit's highest-grade interval yet and said a discovery farther south extended the known gold trend beyond eight kilometres.

Shares rose 0.6 per cent to C$91.59 at 4 p.m. EDT on Sept. 25 in Toronto, according to the TSELUG quote. The Sept. 24 close was C$91.04.

At the new Quebrada Dorada vein system, hole CHT-2026-495 returned 13.05 metres at 6.53 grams per tonne gold, the company reported. The system lies about two kilometres south of Bonza Sur. Lundin said the known gold mineralized trend remains open to the south.

The Bonza Sur interval began 140.25 metres downhole and included 0.60 metres grading more than 1,000 grams per tonne gold. Lundin said the reported lengths are drill-core intervals, not true widths, so the mineralized body's actual thickness remains to be established.

Bonza Sur has been traced over roughly two kilometres of strike by widely spaced holes, with mineralization reaching the surface. Recent drilling has focused on locating higher-grade zones within that broader system.

"Importantly, with FDNS underground development advancing to the south, we see the potential to ultimately access the northern portion of Bonza Sur from underground, adding another opportunity to our growing near-mine pipeline," Lundin Gold chief executive Jamie Beck said in the Sept. 24 release.

Another Bonza Sur hole cut 4.20 metres at 28.05 grams per tonne gold. Its included run was 2.30 metres at 50.44 grams per tonne.

Lundin said three rigs were working at Bonza Sur on Sept. 24, tightening drill spacing to test whether the higher-grade zones continue between holes.

A second Quebrada Dorada hole cut 3.15 metres at 20.15 grams per tonne gold. Two rigs were working there on Sept. 24 across a mineralized footprint extending about 2.7 kilometres north to south, while a geological section marked another hole's assays as pending.

Lundin's December 2025 guidance budgeted US$85 million for 133,000 metres of exploration drilling in 2026. The plan earmarked roughly 100,000 metres for near-mine targets and 25,000 metres for resource-conversion drilling intended to support updated estimates.

The producer held US$507 million in cash at June 30, according to its Aug. 6 quarterly results. It produced 238,736 ounces of gold in the first half of 2026 and said in August it was on track for its 475,000-to-525,000-ounce full-year guidance.

Lundin Gold's next scheduled investor event is Gold Forum Americas in Colorado Springs from Sept. 27 to 30.