Make Kitco Your Homepage

Fortuna reports decline in silver and gold reserves, resources up

Kitco News

Editor note Get all the essential market news and expert opinions in one place with our daily newsletter. Receive a comprehensive recap of the day's top stories directly to your inbox. Sign up here!

(Kitco News) - Fortuna Silver Mines (NYSE: FSM) (TSX: FVI) today announced updated mineral reserve and mineral resource estimates for its four operating mines and its development Séguéla gold project as of December 31, 2022.

According to a company statement, its combined proven and probable mineral reserves are reported containing 2.8 Moz Au and 20.1 Moz Ag, representing a year-over-year decrease of 14% and 22%, respectively.

Combined measured and indicated resources exclusive of mineral reserves are reported containing 1.1 Moz Au and 10.5 Moz Ag, representing a year-over-year increase of 32% in gold and no change in silver.

Combined inferred mineral resources are reported containing 1.4 Moz Au and 26.5 Moz Ag reflecting a year-over-year increase of 39% and 1%, respectively.

The company also reported maiden inferred mineral resources for the Arizaro project in Argentina, located 3.2 kilometers southeast of the Lindero mine, containing 280 koz Au.

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.  

MMG restarts operations at the Dugald River zinc mine in Australia

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.