Lundin Gold Reports Fourth Quarter and Full Year 2025 Results
Lundin Gold’s District Expansion Accelerates as FDNS Drills Bonanza Grades to Back Massive Reserve Growth
The February 18, 2026, news release reports high-grade drilling results from the Fruta del Norte South (FDNS) and FDN East targets in Ecuador. The standout result is hole UGE-S-25-384, which returned 91.32 g/t gold over 20.65 metres. This result comes from the FDNS exploration program, aimed at expanding the deposit's footprint. Additionally, conversion drilling at FDNS returned intervals of 98.06 g/t Au over 5.8m and 92.37 g/t Au over 4.55m. At FDN East, drilling expanded the mineralized trend toward the Sandia porphyry target, with intercepts including 42.41 g/t Au over 2.1m. The company confirmed that 17 rigs are currently active for the 133,000-metre 2026 program.
This news has a material positive impact as it provides immediate geological validation for the "Record Mineral Reserves" announced just 24 hours prior (Feb 17, 2026). The bonanza-grade intercepts (91.3 g/t over 20m) at FDNS suggest that the inaugural reserve of 0.54 Moz at FDNS may be conservative. - Resource Conversion: The conversion results (e.g., 98.06 g/t over 5.8m) provide high confidence that Inferred resources will successfully upgrade to Proven and Probable categories. - District Growth: The expansion at FDN East confirms the theory that Fruta del Norte is not an isolated deposit but part of a multi-kilometre mineralized trend. - Operational Continuity: These results support the 2026 target of increasing throughput to 5,500 tonnes per day (tpd) by ensuring a high-grade feed pipeline.
Lundin Gold owns 100% of the Fruta del Norte (FDN) gold mine in southeast Ecuador. FDN is one of the highest-grade operating gold mines in the world. The company has successfully evolved from a developer to a debt-free, high-yield producer. Key satellite deposits include FDNS, FDN East, and Bonza Sur, while the Sandia and Trancaloma targets highlight copper-gold porphyry potential.