Ecuador-focused Lundin Gold has received an exploration permit for the Emperador concession, which includes the drill-ready Barbasco target, where the company plans to start a drill programme in the fourth quarter.
The Barbasco target is 3.8 km in length and has a similar structural location and orientation within the Suarez Pull-Apart basin to the company’s existing Fruta del Norte gold mine.
The 6 000 m drill programme at Barbasco is planned for mid- to late fourth quarter.
"Our strategy is to systematically explore the basin as we believe that the geological conditions that led to the formation of Fruta del Norte could also exist elsewhere within this structure,” comments president and CEO Ron Hochstein.
The Emperador concession is 100% owned by Lundin.