Fortuna Intercepts 854 g/t Ag and 5.0 g/t Au Over 3.3 m in Trinidad North Step-Out Drilling at the San Jose Mine, Mexico
14 Juillet 2014 - 1:00PM
Marketwired Canada
Fortuna Silver Mines Inc. (NYSE:FSM) (TSX:FVI) (BVLAC:FVI) (FRANKFURT:F4S.F) is
pleased to announce results for additional step-out drilling of the Trinidad
North discovery located contiguous with the San Jose Mine in Oaxaca, Mexico.
Results are included for eleven drill holes completed from April through June of
2014, confirming that the high-grade silver-gold mineralization remains open
along strike to the north and to depth.
Highlights of Step-out Drilling
SJOM-369
-- 1,029 g/t Ag and 5.94 g/t Au (1,385 g/t Ag Eq) over ETW(i) of 3.3 m
SJOM-378
-- 467 g/t Ag and 1.93 g/t Au (583 g/t Ag Eq) over ETW of 4.9 m
SJOM-386
-- 399 g/t Ag and 2.15 g/t Au (528 g/t Ag Eq) over ETW of 13.0 m
SJOM-390
-- 636 g/t Ag and 2.93 g/t Au (812 g/t Ag Eq) over ETW of 4.0 m
SJOM-395
-- 854 g/t Ag and 4.97 g/t Au (1,152 g/t Ag Eq) over ETW of 3.3 m
(i) ETW = Estimated True Width
Dr. Thomas I. Vehrs, Vice President of Exploration, commented: "The results of
the step-out drilling at Trinidad North continue to support the presence of a
strong and well developed mineralized system. The mineralization is hosted in
hydrothermal boiling breccias, crackle breccias and stockwork vein zones
characteristic of a very productive and extensive epithermal system. With the
results of each new drill hole, we are refining our interpretations of the
geology and the mineralization, and growing increasingly confident of the
exploration upside of the system. The crosscut at the 1300 meter level is being
advanced a further 300 meters to the north to allow for the development of
additional drill stations and exploration of the strike extension of the
mineralized system."
The Trinidad North discovery was announced in February of 2013 (see Fortuna news
release of February 4, 2013) and a maiden resource for the Trinidad North zone
was announced in October of 2013. At a 70 g/t Ag Eq cutoff, Inferred Resources
at Trinidad North as of the July 4, 2013 data cutoff date were estimated at 1.9
Mt averaging 269 g/t Ag and 1.67 g/t Au, containing 16.3 Moz Ag and 100.8 koz
Au. Resource estimates at higher cutoff grades were also presented and the
reader is referred to the October 17, 2013 news release for additional
information. Step-out drilling of the Trinidad North discovery was initiated in
late September of 2013 with initial results being reported in Fortuna news
releases dated November 25, 2013, January 21, 2014, March 10, 2014 and April 29,
2014. An updated resource estimate with a data cutoff date of June 30, 2014 is
currently in preparation.
Assay Results for Principal Mineralized Intervals - Trinidad North Step-out Drilling
----------------------------------------------------------------------------
Ag
From To Int ETW(i) Ag Au Pb Zn Cu Eq(ii)
Hole_Id (m) (m) (m) (m) (g/t) (g/t) (ppm) (ppm) (ppm) (g/t)
----------------------------------------------------------------------------
SJOM-369 330.85 338.50 7.65 4.3 187 1.03 1201 2283 136 248
------------------------------------------------------------------
355.30 361.00 5.70 3.3 1029 5.94 2482 4437 184 1385
------------------------------------------------------------------
376.70 379.50 2.80 1.7 182 2.18 5074 13559 920 313
----------------------------------------------------------------------------
SJOM-372 249.25 252.25 3.00 2.3 139 0.68 47 90 13 180
------------------------------------------------------------------
275.50 280.60 5.10 4.0 125 0.74 84 161 19 169
------------------------------------------------------------------
311.00 313.30 2.30 1.8 187 0.60 1149 2501 49 223
----------------------------------------------------------------------------
SJOM-373 248.45 252.00 3.55 2.8 536 3.61 370 762 59 753
----------------------------------------------------------------------------
SJOM-377 232.70 235.50 2.80 2.3 127 0.53 452 1018 25 159
----------------------------------------------------------------------------
SJOM-378 312.35 322.00 9.65 5.1 168 1.01 152 297 22 229
------------------------------------------------------------------
378.80 382.40 3.60 1.8 296 1.61 331 592 17 393
------------------------------------------------------------------
391.15 398.30 7.15 4.9 467 1.93 2815 4200 124 583
----------------------------------------------------------------------------
SJOM-381 207.90 209.70 1.80 1.5 197 1.04 588 985 19 260
------------------------------------------------------------------
232.50 236.00 3.50 3.0 160 0.89 755 1835 97 214
----------------------------------------------------------------------------
SJOM-383 205.30 206.50 1.20 1.0 254 1.37 10 82 13 336
------------------------------------------------------------------
227.60 234.00 6.40 4.7 188 0.81 39 76 10 236
------------------------------------------------------------------
272.55 275.50 2.95 2.5 219 0.82 1012 2330 15 269
----------------------------------------------------------------------------
SJOM-386 321.45 348.50 27.05 13.0 399 2.15 332 598 27 528
------------------------------------------------------------------
358.50 366.50 8.00 4.0 271 1.56 323 717 31 365
------------------------------------------------------------------
380.00 382.60 2.60 1.3 160 0.71 576 1033 18 202
----------------------------------------------------------------------------
SJOM-390 397.70 410.15 12.45 6.3 128 0.65 302 605 76 167
------------------------------------------------------------------
413.85 421.90 8.05 4.0 636 2.93 739 1891 110 812
----------------------------------------------------------------------------
SJOM-394A 248.00 255.00 7.00 4.0 123 1.00 72 198 29 183
----------------------------------------------------------------------------
SJOM-395 414.70 420.95 6.25 3.3 854 4.97 4412 10610 190 1152
----------------------------------------------------------------------------
(i) ETW = Estimated True Width
(ii) Ag Eq values estimated at Au:Ag ratio of 60 based on metal prices of
US$1200/oz Au and US$20.00/oz Ag and metallurgical recoveries of 89 % for
both Au and Ag; Averages calculated at cutoff of 70 g/t Ag Eq
----------------------------------------------------------------------------
Longitudinal sections showing the location of the step-out drill hole results
relative to the Trinidad North maiden resource area are available at the
following link: http://www.fortunasilver.com/s/san_jose.asp?ReportID=664325.
San Jose Mine
The San Jose mine and processing plant were successfully expanded to 2,000 tpd
in April 2014 (see Fortuna news release of April 14, 2014) and studies are
currently underway to assess the potential for a further expansion to 3,000 tpd.
Production for the first half of 2014 was 2,098,446 oz silver and 15,583 oz
gold, 10 percent and 8 percent above budget, respectively. Production guidance
for 2014 is for the processing of 683,000 tonnes of ore averaging 203 g/t Ag and
1.56 g/t Au, resulting in the estimated production of 4.0 million ounces of
silver and 30.4 thousand ounces of gold.
Quality Assurance & Quality Control
Following detailed geological and geotechnical logging, drill core samples are
split on-site by diamond sawing. One-half of the core is submitted to the ALS
Chemex Laboratory in Guadalajara, Mexico. The remaining half core is retained
on-site for verification and reference purposes. Following preparation, the
samples are assayed for gold and silver by standard fire assay methods and for
silver and base metals by ICP and atomic absorption methods utilizing aqua regia
digestion. The QA-QC program includes the blind insertion of certified reference
standards and assay blanks at a frequency of approximately 1 per 15 normal
samples as well as the inclusion of duplicate samples for verification of
sampling and assay precision levels.
Qualified Person
Thomas I. Vehrs, Ph.D., Vice President of Exploration is the Qualified Person
for Fortuna Silver Mines Inc. as defined by National Instrument 43-101. Dr.
Vehrs is a Founding Registered Member of the Society for Mining, Metallurgy, and
Exploration, Inc. (SME Registered Member Number 3323430RM) and is responsible
for ensuring that the information contained in this news release is an accurate
summary of the original reports and data provided to or developed by Fortuna
Silver Mines.
Fortuna Silver Mines Inc.
Fortuna is a growth-oriented, silver-, gold- and base metal-producer focused on
mining opportunities in Latin America. Our primary assets are the Caylloma
silver mine in southern Peru and the San Jose silver-gold mine in Mexico. The
Company is selectively pursuing exploration and development opportunities in the
Americas. For more information, please visit our website at
www.fortunasilver.com.
ON BEHALF OF THE BOARD
Jorge Ganoza
President, CEO and Director
Fortuna Silver Mines Inc.
Forward looking Statements
This news release contains forward-looking statements which constitute
"forward-looking information" within the meaning of applicable Canadian
securities legislation and "forward-looking statements" within the meaning of
the "safe harbor" provisions of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are statements that are not historical facts
and that are subject to a variety of risks and uncertainties which could cause
actual events or results to differ materially from those reflected in the
forward-looking statements. When used in this document, the words such as
"anticipates", "believes", "plans", "estimates", "expects", "forecasts",
"targets", "intends", "advance", "projects", "calculates" and similar
expressions are forward-looking statements.
The forward-looking statements are based on an assumed set of economic
conditions and courses of actions, including estimates of future production
levels, expectations regarding mine production costs, expected trends in mineral
prices and statements that describe Fortuna's future plans, objectives or goals.
There is a significant risk that actual results will vary, perhaps materially,
from results projected depending on such factors as changes in general economic
conditions and financial markets, changes in prices for silver and other metals,
technological and operational hazards in Fortuna's mining and mine development
activities, risks inherent in mineral exploration, uncertainties inherent in the
estimation of mineral reserves, mineral resources, and metal recoveries, the
timing and availability of financing, governmental and other approvals,
political unrest or instability in countries where Fortuna is active, labor
relations and other risk factors.
Although Fortuna has attempted to identify important factors that could cause
actual results to differ materially from those contained in forward-looking
statements or information, there may be other factors that cause results to be
materially different from those anticipated, described, estimated, assessed or
intended. There can be no assurance that any forward-looking statements or
information will prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements or information.
Accordingly, readers should not place undue reliance on forward-looking
statements or information.
FOR FURTHER INFORMATION PLEASE CONTACT:
Investor Relations:
Carlos Baca
Tel (Perú): +51.1.616.6060, ext. 0
Fortuna Silver Mines (TSX:FVI)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024
Fortuna Silver Mines (TSX:FVI)
Graphique Historique de l'Action
De Mai 2023 à Mai 2024
