Fortuna Silver ups gold production 93% in Q1, silver output down 13%
(Kitco News) - Fortuna Silver Mines (TSX: FVI) today reported that in Q1 2022, the company produced 66,800 ounces of gold, up 93% over Q1 2021, while silver production of 1,670,128 ounces was 13% lower than a year ago.
The company said it delivered a strong operating performance in the first quarter of 2022 with all mines on target to achieve annual guidance for silver and gold.
Fortuna added that gold production of 66,800 ounces, an increase of 93% year-over-year, was driven by contributions of 30,068 ounces from the Lindero mine and 28,235 ounces from the Yaramoko mine, acquired on July 2021.
The company’s silver production of 1.6 million ounces, a 13% decrease over Q1 2021, was primarily driven by a 14% decrease in head grade at the San Jose mine, which is in line with the mineral reserve average grade.
By-product base metal production amounted to 9.1 million pounds of lead (Q1 2021: 8.2 million pounds) and 10.8 million pounds of zinc (Q1 2021: 12 million pounds).
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Fortuna reiterates its annual production guidance range of 6.2 to 6.9 million ounces of silver and between 244 to 280 thousand ounces of gold or between 369,000 to 420,000 ounces gold equivalent in 2022, including lead and zinc by products.
Fortuna Silver Mines is a Canadian precious metals mining company with four operating mines in Argentina, Burkina Faso, Mexico and Peru, and a fifth mine under construction in Côte d'Ivoire.