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Fortuna Silver Mines Inc.
Summary
| Project: | Lindero | |
|---|---|---|
| Deposit: | Lindero | |
| Location: | Argentina | |
| Commodities: | Gold | |
| Date: | 2/27/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 27-2-2017: Fortuna Silver Mines Inc. announces a Resource Estimation report for its Lindero deposit at the Lindero project. Annual statement of mineral resources and ore reserves. Fortuna Silver Mines, Inc. (NYSE: FSM) (TSX: FVI) is pleased to report upda | |
| Resources: | (Reserve, P+P): 82.533Mt @ 0.63g/t Au for 1.684Moz Au contained | |
| 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.” The Lindero Project has Proven and Probable Mineral Reserves of 82.5 Mt containing 1.7 Moz of gold, in addition to Inferred Resources of 46.5 Mt containing 0.6 Moz of gold as detailed in the 2016 Feasibility Study. Fortuna continues to conduct tradeoff metallurgical tests and detailed engineering revisions to optimize the 2016 Feasibility Study to assist a construction decision in the third quarter of 2017. Initial results for the various components of the optimization are expected to be released in March 2017. The 2017 Brownfields exploration budget at Lindero is US$450,000 which includes investigating the economic potential of the Arizaro gold-copper porphyry target that lies within the concession block. The work program includes surface mapping, re-logging of approximately 8,000 meters of core and preliminary metallurgical tests. | |
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