Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to announce that the processing plant performance test was successfully completed at its Séguéla Mine in Côte d´Ivoire in August. The processing plant achieved designated performance criteria over the test period of 168 hours, which ultimately brings to conclusion the engineering, procurement, and construction contract with Lycopodium. During the performance test, the processing plant demonstrated the following notable design parameters at average head grades greater than 4.5 grams per tonne:
- Crushing circuit throughput exceeding 190 tonnes per hour averaging >75% availability;
- Milling circuit throughput exceeding 156 dry tonnes per hour averaging >94% availability;
- Mill grind size (P80) less than 75 micron;
- Elution strips once daily;
- Tails solution losses as low as 0.011 parts per million; and
- Gold recoveries between 85 to 95%.
Jorge A. Ganoza, President and CEO, commented: “The completion of the performance test closes the successful construction and commissioning phase of the Séguéla Mine. Completing this project on time and on budget during globally challenging times has been a great achievement, and we now look forward to realizing the full value of the project.”
Séguéla poured first gold on May 24, 2023 (refer to Fortuna news release dated May 25, 2023) and has since ramped up production to current levels, which are exceeding nameplate capacity. During the month of August, mill throughput averaged 172 tonnes per hour, exceeding nameplate capacity by 14 percent.
Since first gold pour, Séguéla has produced a total of 21,716 ounces of gold in doré.
Gold in doré produced:
|
Month |
Production (oz) |
|
|
May 24 - June |
4,023 |
|
|
July |
6,008 |
|
|
August |
11,685 |
|
|
|
||
Fortuna is working on updating Séguéla's life of mine plan to include the Sunbird mineral deposit, where infill drilling was completed mid-year. The Company reiterates Séguéla´s 2023 annual production guidance of 60,000 to 75,000 ounces of gold (refer to Fortuna news release dated January 17, 2023).
Qualified Person
Eric Chapman, Senior Vice President of Technical Services of Fortuna, is a Professional Geoscientist registered with Engineers and Geoscientists British Columbia (Registration Number 36328) and a Qualified Person as defined by National Instrument 43-101- Standards of Disclosure for Mineral Projects. Mr. Chapman has reviewed and approved the scientific and technical information contained in this news release and has verified the underlying data.
About Fortuna Silver Mines Inc.
Fortuna Silver Mines Inc. is a Canadian precious metals mining company with five operating mines in Argentina, Burkina Faso, Côte d'Ivoire, Mexico, and Peru. Sustainability is integral to all our operations and relationships. We produce gold and silver and generate shared value over the long-term for our stakeholders through efficient production, environmental protection, and social responsibility. For more information, please visit our website.
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