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Fortuna Silver Mines Inc.
Summary
| Project: | Caylloma Mine | |
|---|---|---|
| Deposit: | Caylloma Mine | |
| Location: | Peru | |
| Commodities: | Silver-Gold-Lead-Zinc | |
| Date: | 2/22/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 22-2-2018: Fortuna Silver Mines Inc. announces a Resource Estimation report for its Caylloma Mine deposit at the Caylloma Mine project. 2017 annual Resource and Reserve statement. Vancouver, February 22, 2018-- Fortuna Silver Mines, Inc. (NYSE: FSM) (TSX: | |
| Resources: | (Reserve, P+P): 1.603Mt @ 91g/t Ag, 0.23g/t Au, 2.25% Pb, 3.58% Zn at Caylloma | |
| CP/QP: | [Resources]: Eric Chapman (Internal) | |
| ABSTRACT: | Vancouver, February 22, 2018-- Fortuna Silver Mines, Inc. (NYSE: FSM) (TSX: FVI) is pleased to report updated Mineral Reserve and Mineral Resource estimates as of December 31, 2017 for the Caylloma Mine located in Peru, the San Jose Mine located in Mexico and the Lindero Project in Argentina. Jorge A. Ganoza, President and CEO, commented: “Our infill drill programs at San Jose and Caylloma mines were successful at replenishing reserves mined in 2017.” Mr. Ganoza continued, “In addition, the exploration programs over the last year at Caylloma have yielded a 92 percent increase in tonnes of Inferred Resources. This success underpins the potential for this mine to continue presenting opportunities to extend its life.” As of December 31, 2017, the Caylloma Mine has Proven and Probable Mineral Reserves of 1.6 Mt containing 4.7 Moz of silver and 12 koz of gold, in addition to Inferred Resources of 5.8 Mt containing 19.5 Moz of silver and 66 koz of gold. Year-over-year, Mineral Reserve tonnes remained unchanged while silver grade decreased 16 percent to 91 g/t, lead grade decreased 6 percent to 2.25%, and zinc grade increased 10 percent to 3.58%. Changes are primarily due to mining related depletion and the upgrading and conversion of Inferred Resources to Mineral Reserves due to a successful infill drill program focused on the Animas NE vein. Measured and Indicated Resources, exclusive of Mineral Reserves, decreased by 6 percent year-overyear to 1.9 Mt. | |
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