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Fortuna Silver Mines Inc.
Summary
| Project: | Caylloma Mine | |
|---|---|---|
| Deposit: | Caylloma Mine | |
| Location: | Peru | |
| Commodities: | Silver-Gold-Lead-Zinc | |
| Date: | 2/27/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 27-2-2017: Fortuna Silver Mines Inc. announces a Resource Estimation report for its Caylloma Mine deposit at the Caylloma Mine project. Updated ore reserve and mineral resource at Caylloma. Fortuna Silver Mines, Inc. (NYSE: FSM) (TSX: FVI) is pleased to r | |
| Resources: | (Reserve, P+P): 1.596Mt @ 109g/t Ag, 0.28g/t Au, 2.39% Pb, 3.24% Zn at project | |
| CP/QP: | [Resources]: Eric Chapman (Internal) | |
| ABSTRACT: | Fortuna Silver Mines, Inc. (NYSE: FSM) (TSX: FVI) is pleased to report updated Mineral Reserve and Mineral Resource estimates as of December 31, 2016 for the Caylloma Mine located in Arequipa, Peru and for the San Jose Mine located in Oaxaca, Mexico. The combined year-end reserves and resources include the recently acquired Lindero gold Project located in Salta, Argentina. Jorge A. Ganoza, President and CEO, commented: “Our combined Proven and Probable Reserves have been positively impacted by the acquisition of Lindero and the successful infill drill program conducted at San Jose.” Mr. Ganoza continued, “Fortuna is well positioned for growth with combined reserves containing 45.8 million ounces of silver and 2 million ounces of gold.” As of December 31, 2016, the Caylloma Mine has Proven and Probable Mineral Reserves of 1.6 Mt containing 5.6 Moz of silver and 14 koz of gold, in addition to Inferred Resources of 3.0 Mt containing 12.3 Moz of silver and 66 koz of gold. Brownfields exploration program budget for 2017 at the Caylloma Mine is US$3.9 million, which includes 22,000 meters of diamond drilling. Drilling will focus on testing extensions of the principal Animas vein both northeast and southwest from current underground operations. Exploration drilling is in progress on extensions of ore-shoots immediately beneath current operations. An infill drilling program of 12,600 meters for the upgrading of Inferred Resources into Measured or Indicated Resources is being presently conducted at the Caylloma Mine. The budget of the infill drill program for 2017 is US$1.2 million. | |
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