Vancouver, April 12, 2023 – Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) reportsproduction results for the first quarter of 2023 from its four operating mines in Latin America and West Africa.
Production highlights
Gold and silver production are on-track to achieve 2023 annual guidance
Gold production of 60,092 ounces; 10 percent decrease over Q1 2022
Silver production of 1,586,378 ounces; 5 percent decrease over Q1 2022
Zinc and lead production of 13.1 million pounds and 9.5 million pounds; 21 and 4 percent increase over Q1 2022, respectively
Gold equivalent1 production of 94,110 ounces
The Séguéla Mine is on-track to initiate gold production in May 2023
Gold production of 60,092 ounces was mainly driven by contributions of 25,258 ounces from the Lindero Mine and 26,437 ounces from the Yaramoko Mine. The lower year-over-year gold production is primarily due to a decrease in head grades at both mines albeit in line with the mining sequence and Mineral Reserves. Silver production of 1,586,378 ounces is similar to the comparable period in 2022 with marginally lower tonnage and head grades milled at the San Jose and Caylloma mines.
Fortuna reiterates its 2023 annual production guidance range of 6.3 to 6.9 million ounces of silver and 282 to 320 thousand ounces of gold or between 412,000 and 463,000 gold equivalent ounces2, including lead and zinc by-products (refer to Fortuna news release dated January 17, 2023).
Notes:
Au Eq includes gold, silver, lead and zinc and is calculated using the following metal prices: $1,893/oz Au, $22.52/oz Ag, $2,256/t Pb and $3,197/t Zn or Au:Ag = 1:84.04, Au:Pb = 1:0.84, Au:Zn = 1:0.59
Au Eq includes gold, silver, lead and zinc and is calculated using the following metal prices: $1,700/oz Au, $21/oz Ag, $2,000/t Pb and $3,200/t Zn or Au:Ag = 1:81.00, Au:Pb = 1:0.85, Au:Zn = 1:0.53
First Quarter 2023 Consolidated Operating Highlights
see & read more on
https://fortunasilver.com/investors/news/fortuna-reports-production-of-94-110-gold-equivalent-ounces-for-the-first-quarter-of-2023/ |
