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Fortuna Silver reports 411% gold production jump in third quarter

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(Kitco News) - Fortuna Silver Mines (NYSE: FSM) (TSX: FVI) today reported that its gold production in Q3 2021 increased 411% to 65,425 ounces compared to 12,791 ounces produced in Q3 2020.

The company's lead production of 8,245,289 pounds was 23% higher compared to Q3 2020, and zinc production of 12,436,276 pounds was 21% higher compared to Q3 2020.

However, Fortuna Silver reported that its Q3 2021 silver production of 1,711,881 ounces was 20% lower compared to Q3 2020 (2,127,746 ounces).

The company said that its Lindero mine in Argentina produced record 26,235 ounces of gold in Q3 2021, which was in line with guidance.

Fortuna added that quarterly performance at the company's San Jose mine in Mexico was "as expected", and that year-to-date production results aligned with guidance. The San Jose mine produced 1,436,658 ounces of silver and 8,910 ounces of gold in Q3 2021.

The company's Yaramoko mine in Burkina Faso produced 28,751 ounces of gold in Q3 2021 with an average gold head grade of 7.28 g/t, which was slightly below the plan for the quarter.

Importantly, the company said that its Caylloma mine in Peru "outperformed" in Q3 2021, with 12% increase in gold production, 23% increase in lead production and a 21% increase in zinc production compared with the third quarter of 2020.

Fortuna Silver Mines is a Canadian precious metals mining company with four operating mines in Argentina, Burkina Faso, Mexico and Peru, and an advanced development project in Côte d'Ivoire.

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