VANCOUVER,
Aug. 15, 2013 /PRNewswire/ -
Fortuna Silver Mines Inc. (NYSE: FSM | TSX: FVI | BVL: FVI |
Frankfurt: F4S.F) is pleased to
report results for twelve additional surface drill holes at the
Trinidad North high-grade silver-gold discovery at the San Jose Mine in Mexico. With the exception of drill hole
SJO-304, the reported drill holes are generally positioned to
define the approximate limits of the Trinidad North ore
shoot. The ore shoot remains open to depth and to the north
with drilling from underground stations projected to start in early
September.
Trinidad North Drilling Highlights:
Hole_Id |
From
(m) |
To
(m) |
Interval
(m) |
Est. True Width
(m) |
Ag
(g/t) |
Au
(g/t) |
Ag Eq
(g/t) |
SJO-299 |
526.00 |
534.00 |
8.00 |
4.7 |
178 |
1.26 |
245 |
SJO-303A |
462.95 |
470.20 |
7.25 |
5.5 |
258 |
1.45 |
335 |
SJO-304 |
543.40 |
560.95 |
17.55 |
10.4 |
326 |
2.06 |
436 |
580.00 |
593.80 |
13.80 |
8.2 |
487 |
4.00 |
700 |
SJO-308 |
503.55 |
511.10 |
7.55 |
4.3 |
226 |
1.28 |
294 |
SJO-315 |
445.85 |
451.00 |
5.15 |
3.3 |
399 |
2.10 |
511 |
SJO-321 |
533.75 |
537.75 |
4.00 |
1.5 |
850 |
4.48 |
1,089 |
Dr. Thomas I.
Vehrs, Vice President of Exploration, commented, "The latest
drill results continue to confirm the importance of the
Trinidad North discovery.
The Trinidad North ore shoot is located proximal to the area of
operations at San Jose allowing
for development of the zone in 2014 and initiation of production in
early 2015. Silver equivalent grades range from 200 g/t to
over 2,300 g/t over estimated true vein widths ranging from 2
meters to over 19 meters." Dr. Vehrs continued, "Underground
access is currently in development at the 1300 meter level to allow
for continued exploration of the ore shoot to the north and to
depths below 1,000 m amsl. The first underground drill
station is projected to be ready by the end of August with
underground drilling scheduled to begin in early September."
A summary of the assay results for the principal
mineralized intervals in the twelve drill holes is appended to this
news release. The reader is referred to the Fortuna Silver
news releases of February 4, 2013, April 22, 2013 and May 22, 2013
for the results of previously released drill holes from the
Trinidad North zone. Please see
the following link to the longitudinal sections for the location of
the Trinidad North drill results relative to the existing Mineral
Reserves and Mineral Resources of the San Jose Mine:
http://www.fortunasilver.com/i/maps/sanjose/Trinidad-deposit-longitudinal-sections_8AUG2013_14AUG13.pdf.
Quality Assurance & Quality
Control
Following detailed geological and geotechnical
logging, drill core samples are split on-site by diamond
sawing. One-half of the core is submitted to the ALS Chemex
Laboratory in Guadalajara,
Mexico. The remaining half core is retained on-site
for verification and reference purposes. Following
preparation, the samples are assayed for gold and silver by
standard fire assay methods and for silver and base metals by ICP
and atomic absorption methods utilizing aqua regia digestion.
The QA-QC program includes the blind insertion of certified
reference standards and assay blanks at a frequency of
approximately 1 per 15 normal samples as well as the inclusion of
duplicate samples for verification of sampling and assay precision
levels.
Qualified Person
Thomas I. Vehrs,
Ph.D., Vice President of Exploration, is a Qualified Person for
Fortuna Silver Mines Inc. as defined by National Instrument 43-101.
Dr. Vehrs is a Founding Registered Member of the Society for
Mining, Metallurgy, and Exploration, Inc. (SME Registered Member
Number 3323430RM) and is responsible
for ensuring that the information contained in this news release is
an accurate summary of the original reports and data provided to or
developed by Fortuna Silver Mines.
Fortuna Silver Mines Inc.
Fortuna is a growth oriented, silver and base
metal producer focused on mining opportunities in Latin America. Our primary assets are
the Caylloma silver mine in southern Peru and the San
Jose silver-gold mine in Mexico. The company is selectively
pursuing additional acquisition opportunities. For more
information, please visit our website at www.fortunasilver.com.
ON BEHALF OF THE BOARD
Jorge A. Ganoza
President, CEO and Director
Fortuna Silver Mines Inc.
Trading symbols: NYSE: FSM | TSX: FVI | BVL: FVI | Frankfurt: F4S.F
Forward-Looking Statements
This news release contains forward-looking statements which
constitute "forward-looking information" within the meaning of
applicable Canadian securities legislation and "forward-looking
statements" within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are statements that are not historical
facts and that are subject to a variety of risks and uncertainties
which could cause actual events or results to differ materially
from those reflected in the forward-looking statements. When
used in this document, the words such as "anticipates", "believes",
"plans", "estimates", "expects", "forecasts", "targets", "intends",
"advance", "projects", "calculates" and similar expressions are
forward-looking statements.
The forward-looking statements are based on an assumed set of
economic conditions and courses of actions, including estimates of
future production levels, expectations regarding mine production
costs, expected trends in mineral prices and statements that
describe Fortuna's future plans, objectives or goals. There is a
significant risk that actual results will vary, perhaps materially,
from results projected depending on such factors as changes in
general economic conditions and financial markets, changes in
prices for silver and other metals, technological and operational
hazards in Fortuna's mining and mine development activities,
risks inherent in mineral exploration, uncertainties inherent
in the estimation of mineral reserves, mineral resources, and metal
recoveries, the timing and availability of financing, governmental
and other approvals, political unrest or instability in countries
where Fortuna is active, labor relations and other risk
factors.
Although Fortuna has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking statements or information, there may
be other factors that cause results to be materially different from
those anticipated, described, estimated, assessed or intended.
There can be no assurance that any forward-looking statements or
information will prove to be accurate as actual results and future
events could differ materially from those anticipated in such
statements or information. Accordingly, readers should not place
undue reliance on forward-looking statements or
information.
Assay Results for Principal Mineralized Intervals at the
Trinidad North Discovery, Mexico:
Hole_Id |
From
(m) |
To (m) |
Int
(m) |
Est True
Width (m) |
Ag
(g/t) |
Au
(g/t) |
Pb
(ppm) |
Zn
(ppm) |
Cu
(ppm) |
Ag Eq
(g/t) |
SJO-299 |
513.00 |
514.00 |
1.00 |
0.6 |
620 |
4.17 |
542 |
860 |
73 |
843 |
526.00 |
534.00 |
8.00 |
4.7 |
178 |
1.26 |
738 |
1246 |
136 |
245 |
536.80 |
544.00 |
7.20 |
4.2 |
102 |
0.74 |
1703 |
3408 |
181 |
141 |
SJO-303A |
415.00 |
417.00 |
2.00 |
1.5 |
304 |
3.10 |
62 |
125 |
45 |
469 |
455.60 |
459.20 |
3.60 |
2.7 |
168 |
1.10 |
215 |
466 |
24 |
227 |
462.95 |
470.20 |
7.25 |
5.5 |
258 |
1.45 |
365 |
680 |
46 |
335 |
SJO-304 |
535.85 |
540.70 |
4.85 |
2.9 |
381 |
1.99 |
829 |
1872 |
127 |
487 |
543.40 |
560.95 |
17.55 |
10.4 |
326 |
2.06 |
510 |
1235 |
102 |
436 |
565.00 |
566.50 |
1.50 |
0.9 |
294 |
1.32 |
295 |
791 |
142 |
364 |
572.70 |
575.00 |
2.30 |
1.4 |
249 |
1.86 |
1823 |
4127 |
512 |
348 |
580.00 |
593.80 |
13.80 |
8.2 |
487 |
4.00 |
2121 |
3811 |
401 |
700 |
SJO-308 |
475.65 |
477.25 |
1.60 |
0.9 |
655 |
3.66 |
318 |
680 |
60 |
850 |
499.50 |
501.70 |
2.20 |
1.3 |
421 |
2.81 |
204 |
377 |
44 |
571 |
503.55 |
511.10 |
7.55 |
4.3 |
226 |
1.28 |
154 |
376 |
38 |
294 |
550.50 |
552.10 |
1.60 |
0.9 |
491 |
4.74 |
1946 |
4696 |
919 |
744 |
SJO-310 |
286.90 |
288.00 |
1.10 |
0.6 |
152 |
0.68 |
157 |
184 |
10 |
189 |
329.00 |
332.00 |
3.00 |
1.5 |
66 |
0.38 |
166 |
332 |
30 |
86 |
SJO-311 |
149.15 |
150.00 |
0.85 |
0.5 |
183 |
6.11 |
7 |
60 |
60 |
509 |
429.50 |
431.00 |
1.50 |
0.9 |
825 |
3.74 |
504 |
939 |
47 |
1025 |
SJO-313 |
351.00 |
351.50 |
0.50 |
0.3 |
187 |
0.89 |
109 |
342 |
33 |
234 |
353.00 |
356.75 |
3.75 |
2.4 |
341 |
1.73 |
312 |
635 |
35 |
433 |
SJO-315 |
445.85 |
451.00 |
5.15 |
3.3 |
399 |
2.10 |
327 |
567 |
46 |
511 |
SJO-316 |
347.30 |
351.00 |
3.70 |
1.4 |
325 |
1.63 |
232 |
262 |
19 |
412 |
357.00 |
361.00 |
4.00 |
1.5 |
149 |
0.89 |
175 |
466 |
20 |
196 |
415.50 |
417.55 |
2.05 |
0.8 |
602 |
3.19 |
1377 |
2263 |
59 |
772 |
435.50 |
437.00 |
1.50 |
0.6 |
204 |
1.08 |
397 |
969 |
21 |
262 |
445.90 |
452.20 |
6.30 |
2.4 |
88 |
0.51 |
213 |
465 |
23 |
115 |
SJO-320 |
No significant mineralized
intervals |
SJO-321 |
492.20 |
500.45 |
8.25 |
3.1 |
88 |
0.43 |
900 |
1596 |
104 |
111 |
502.10 |
508.80 |
6.70 |
2.5 |
130 |
0.68 |
792 |
1931 |
104 |
166 |
533.75 |
537.75 |
4.00 |
1.5 |
850 |
4.48 |
1076 |
2353 |
78 |
1089 |
SJO-325A |
568.10 |
569.60 |
1.50 |
0.7 |
137 |
0.74 |
761 |
1593 |
61 |
176 |
573.70 |
575.55 |
1.85 |
0.9 |
181 |
0.78 |
884 |
2368 |
34 |
223 |
606.05 |
607.00 |
0.95 |
0.4 |
111 |
1.48 |
13870 |
27820 |
1373 |
190 |
*Ag Eq values calculated at Au:Ag ratio of 53.37 based on metal
prices as of December 31, 2012
(Au: US$ 1,572.19; Ag:
US$29.46), metallurgical recoveries
of 89% for both Au and Ag, and a lower cutoff of 70 g/t Ag
Eq.
SOURCE Fortuna Silver Mines Inc.