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Fortuna Silver Mines Inc.
Summary
| Project: | San Jose Mine | |
|---|---|---|
| Deposit: | San Jose Mine | |
| Location: | Mexico | |
| Commodities: | Silver-Gold | |
| 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 San Jose Mine deposit at the San Jose Mine project. Updated mineral resource and ore reserve at San Jose . Fortuna Silver Mines, Inc. (NYSE: FSM) (TSX: FVI) is pleased to | |
| Resources: | (Reserve, P+P): 5.021Mt @ 249g/t Ag, 1.72g/t Au for 45.8Moz Ag, 293koz Au contained 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 San Jose Mine has Proven and Probable Mineral Reserves of 5.0 Mt containing 40.2 Moz of silver and 278 koz of gold, in addition to Inferred Resources of 3.1 Mt containing a further 25.1 Moz of silver and 165 koz of gold. Brownfields exploration program budget for 2017 at the San Jose Mine is US$7.0 million, which includes 31,000 meters of diamond drilling and 600 meters of underground development for drilling to define future resources. Exploration drilling is in progress at the Trinidad Central zone and on the sub-parallel Ocotlan vein. -4- An infill drilling program of 10,200 meters for the upgrading of Inferred Resources into Measured or Indicated Resources is underway at the San Jose Mine. The budget of the infill drill program for 2017 is US$10.2 million. | |
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