San José Mine

Fortuna intersects 1kg Ag Eq over an estimated true width of 8.1m at the Yessi vein, San Jose Mine, Mexico

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Tuesday, April 16, 2024

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In addition, wide intervals such as the 179 g/t Ag Eq over an estimated true width of 17.5 meters in SJO-1455A highlight the potential for broad zones of mineralization”.

Key Points:

In addition, wide intervals such as the 179 g/t Ag Eq over an estimated true width of 17.5 meters in SJO-1455A highlight the potential for broad zones of mineralization”.
Yessi vein drilling highlights include:
1,327 g/t Ag Eq over an estimated true width of 3.0 meters from 604.85 meters, including
179 g/t Ag Eq over an estimated true width of 17.5 meters from 460.10 meters, including
1,036 g/t Ag Eq over an estimated true width of 8.1 meters from 463.30 meters, including
Ag Eq is calculated using a factor of 80:1.
Additional drilling with three drill rigs will continue to test the depth, strike and infill of the current Yessi vein extent.
One half of the core is submitted to the internal laboratory located at the San Jose Mine.

Fortuna reports updated Mineral Reserves and Mineral Resources

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Thursday, February 15, 2024

Mineral Resources were reported within a $1,800/oz gold price pit shell and at a cut-off grade of 0.5 g/t Au.

Key Points:

Mineral Resources were reported within a $1,800/oz gold price pit shell and at a cut-off grade of 0.5 g/t Au.
NI 43-101, defined below, reporting requirements do not allow for "Inferred Mineral Resources" to be added to other Mineral Resource categories and must be reported separately.
A qualified person has not done sufficient work to classify the historical estimates as current Mineral Resources or current Mineral Reserves and Fortuna is not treating the historical estimate as current Mineral Resources.
As of December 31, 2023, the Yaramoko Mine has Proven and Probable Mineral Reserves of 0.9 Mt containing 219 koz Au, in addition to Measured and Indicated Resources, exclusive of Mineral Reserves, of 0.5 Mt containing 43 koz Au, and Inferred Resources of 0.16 Mt containing 18 koz Au.

Fortuna reports record 2023 production of 452 koz Au Eq and 2024 annual guidance of 457 to 497 koz Au Eq

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Thursday, January 18, 2024

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The increase is due primarily to the reallocation of fixed mining costs from capex to opex and lower processed ore.

Key Points:

The increase is due primarily to the reallocation of fixed mining costs from capex to opex and lower processed ore.
Capital investments are estimated at $64.0 million, including $51.5 million in capital projects, and $12.5 million in capitalized stripping costs.
Major sustaining capital investments include:
The Company expects a 2024 cash cost between $850 and $950 per ounce of gold, mostly in line with 2023.
The increase is mainly explained by lower volume and higher cash cost, partially offset by no capital expenditures in 2024.

Fortuna receives positive decision from Mexican Court which reinstates the San Jose Mine environmental impact authorization

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Monday, October 30, 2023

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VANCOUVER, British Columbia, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) reports that the Mexican Federal Administrative Court (the “Court”) has ruled in favour of Minera Cuzcatlan, Fortuna’s Mexican subsidiary, and re-instated the 12-year environmental impact authorization (“EIA”) for the San Jose Mine.

Key Points:

VANCOUVER, British Columbia, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) reports that the Mexican Federal Administrative Court (the “Court”) has ruled in favour of Minera Cuzcatlan, Fortuna’s Mexican subsidiary, and re-instated the 12-year environmental impact authorization (“EIA”) for the San Jose Mine.
Minera Cuzcatlan subsequently initiated legal proceedings in the Court to contest and revoke the annulment of the EIA and obtained a permanent injunction to protect its operations pending the decision of the Court.
The San Jose Mine is in full compliance with all material environmental laws and continues to operate under the terms of the EIA.
The decision of the Court is subject to appeal by SEMARNAT, and if appealed, the permanent injunction that the Company already has will remain in effect.

Fortuna intersects 1,299 g/t Ag Eq over a true width of 9.9 meters at the San Jose Mine, Mexico

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Tuesday, September 5, 2023

The resulting 200-meter extension returned intervals of up to 90 meters of brecciation, alteration, and zones of mineralization (refer to Figure 1).

Key Points:

The resulting 200-meter extension returned intervals of up to 90 meters of brecciation, alteration, and zones of mineralization (refer to Figure 1).
These holes support the interpretation of the Yessi vein, which represents the easternmost limit of mineralization intersected at San Jose to date and which does not have any surface expression, highlighting the regional prospectivity.
Further work is planned to better understand the relationship between the Yessi vein and the broader mineralized system at the San Jose Mine.
Additional drilling is currently underway to define the strike extent and geometry of the Yessi vein.

Fortuna confirms illegal blockade lifted and operations at the San Jose Mine have resumed

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Thursday, May 11, 2023

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VANCOUVER, British Columbia, May 11, 2023 (GLOBE NEWSWIRE) -- Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to report that the illegal blockade at its San Jose Mine in Mexico has been lifted.

Key Points:

VANCOUVER, British Columbia, May 11, 2023 (GLOBE NEWSWIRE) -- Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to report that the illegal blockade at its San Jose Mine in Mexico has been lifted.
Compañía Minera Cuzcatlán and union workers have reached an agreement to resume operations at the mine and processing plant which recommenced on May 10 at 7:00 p.m. local time.
For over a decade, the San Jose Mine has been the single largest employer in the region of Valles Centrales and provides direct quality employment to over 1,200 people.

Fortuna reports an illegal blockade at the San Jose Mine, Mexico

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Tuesday, May 2, 2023

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As a result, operations at the mine have been temporarily halted.

Key Points:

As a result, operations at the mine have been temporarily halted.
The illegal blockade arose after this group of workers did not agree with the estimated amount the Company is to distribute among the workforce as part of the worker's profit sharing entitlement.
The blockaders demand the Company increases profit sharing participation beyond what is stipulated by law.
For over a decade, the San Jose Mine has been the single largest employer in the region of Valles Centrales and provides direct quality employment to over 1,200 people.

Fortuna reports production of 94,110 gold equivalent ounces for the first quarter of 2023

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Wednesday, April 12, 2023

Gold production in the quarter was 25,258 ounces, comprised of 24,776 ounces of doré and an estimated 482 ounces of gold contained in fine carbon.

Key Points:

Gold production in the quarter was 25,258 ounces, comprised of 24,776 ounces of doré and an estimated 482 ounces of gold contained in fine carbon.
During the first quarter of 2023, mine production was 1.6 million tonnes of mineralized material with a stripping ratio of 1.07:1.
In the first quarter of 2023, the San Jose Mine produced 1.3 million ounces of silver and 8,231 ounces of gold, slightly lower when compared to the equivalent period in 2022.
The Caylloma Mine produced 283,066 ounces of silver in the first quarter of 2023.

Fortuna successful in obtaining permanent injunction for San Jose Mine EIA, Mexico

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Tuesday, March 14, 2023

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SEMARNAT is re-assessing the 12-year extension to the EIA for the San Jose Mine that it granted to Minera Cuzcatlan in December 2021 (refer to Fortuna news releases dated December 20, 2021 , January 5 and January 25, 2023 ).

Key Points:

SEMARNAT is re-assessing the 12-year extension to the EIA for the San Jose Mine that it granted to Minera Cuzcatlan in December 2021 (refer to Fortuna news releases dated December 20, 2021 , January 5 and January 25, 2023 ).
The grant of the permanent injunction in favor of Minera Cuzcatlan allows the San Jose Mine to continue to operate under the terms of the 12-year EIA until the Court has ruled on the revocation of the EIA.
Minera Cuzcatlan is in full compliance with all material environmental laws and continues to operate under the terms of the EIA.
The San Jose Mine is the single largest employer in the region of Valles Centrales and provides direct employment to over 1,200 people.

Fortuna provides update on San Jose’s Environmental Impact Authorization

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Wednesday, January 25, 2023

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SEMARNAT is re-assessing the 12-year extension to the EIA for the San Jose Mine that it granted to Minera Cuzcatlan in December 2021 (refer to Fortuna news releases dated December 20, 2021 and January 5, 2023).

Key Points:

SEMARNAT is re-assessing the 12-year extension to the EIA for the San Jose Mine that it granted to Minera Cuzcatlan in December 2021 (refer to Fortuna news releases dated December 20, 2021 and January 5, 2023).
The Court has admitted the Legal Proceedings, and as a first step has granted a provisional injunction in favor of Minera Cuzcatlan.
Minera Cuzcatlan is in full compliance with all material environmental laws and continues to operate under the terms of the EIA.
The mine is the single largest employer in the region of Valles Centrales and provides direct employment to over 1,200 people.