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Fortuna Silver Mines, gold, Silver, Mexico

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Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to announce that step-out and infill drilling at the San Jose Mine has established continuity of high-grade mineralization in the upper levels of the Trinidad Footwall structures. The successful drill program was conducted from the second half of 2020 to date, representing 4,670 meters of step-out and infill drilling in 22 drill holes and targeted both resource upgrades and the potential to expand the resource outside of the current area of Mineral Reserves. Mineralization remains open in at least two directions, is adjacent to existing mine infrastructure, and as a result there is potential for inclusion of this material in near-term production.

 

David F. Volkert, Vice President of Exploration, commented, “In 2020, our exploration team at San Jose focused on re-evaluating their understanding of the structural and geological controls on mineralization at the Trinidad Deposit with the goal of identifying new near-mine exploration targets.” Mr. Volkert continued, “The interception of wide and high-grade mineralization in close proximity to current production areas at the mine reflects the structural complexity of the deposit and unveils discovery potential remaining at the San Jose Mine.”

 

Step-out drill highlights include:

 

SJOM-955: 699 g/t Ag and 3.57 g/t Au over an estimated true width of 4.1 meters

SJOM-1002: 1,931 g/t Ag and 6.76 g/t Au over an estimated true width of 5.4 meters

 

Infill drill highlights include:

 

SJOM-1014: 306 g/t Ag and 1.38 g/t Au over an estimated true width of 9.5 meters

SJOM-1016: 760 g/t Ag and 3.24 g/t Au over an estimated true width of 3.4 meters

SJOM-1017: 967 g/t Ag and 4.25 g/t Au over an estimated true width of 8.4 meters

SJOM-1020: 809 g/t Ag and 2.78 g/t Au over an estimated true width of 1.4 meters

SJOM-1021: 473 g/t Ag and 1.25 g/t Au over an estimated true width of 14.9 meters

 

A longitudinal section showing the location of the drill holes is available at the following link:

https://fortunasilver.com/site/assets/files/5716/20210329-trinidad-ls-233evx.pdf.

 

Full details of the 22 step-out and infill drill holes completed in the Trinidad Footwall structures are listed in the appendix section at the end of this news release.

 

The Brownfields exploration program budget for 2021 at the San Jose Mine is US$10.9 million, which includes 33,800 meters of diamond drilling and 1,770 meters of underground development for drilling access, platforms, and services. Underground exploration drilling will focus on the shallow and deep north and south extensions of the Trinidad vein system and the sub-parallel Victoria mineralized zone, while surface drilling will test two new targets to the south and north of the mine.

 

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 Global 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 at the ALS Global Laboratory in Vancouver, BC, Canada. The QA-QC program includes the blind insertion of certified reference standards and assay blanks at a frequency of approximately 1 per 20 normal samples as well as the inclusion of duplicate samples for verification of sampling and assay precision levels.

 

Qualified Person

 

David F. Volkert, Vice President of Exploration for Fortuna Silver Mines Inc., is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, being a member of the American Institute of Professional Geologists (CPG #10759) and the Association of Professional Engineers and Geoscientists of British Columbia (P. Geo. #191936). Mr. Volkert has reviewed and approved the scientific and technical information contained in this news release. Mr. Volkert has verified the data disclosed, and the sampling, analytical and test data underlying the information or opinions contained herein by reviewing geochemical and geological databases and reviewing diamond drill core. There were no limitations to the verification process.

 

About Fortuna Silver Mines Inc.

 

Fortuna Silver Mines Inc. is a Canadian precious metals mining company with operations in Peru, Mexico and Argentina. Sustainability is integral to all our operations and relationships. We produce silver and gold and generate shared value over the long-term for our shareholders and stakeholders through efficient production, environmental protection and social responsibility.

 

APPENDIX: San Jose Mine, Trinidad Footwall structures- intervals of interest

 

Drill Hole Easting Northing Azimuth
(°)
Dip
(°)
From To Interval ETW¹ Ag Au
(m) (m) (m) (m) (g/t) (g/t)
Step-out drill holes
SJOM-946 745123 1847411 270 39 NSI²
SJOM-955 745122 1847407 243 42 157.30 159.60 2.30 2.0 101 0.61
and         169.20 173.90 4.70 4.1 699 3.57
SJOM-958 745122 1847409 286 20 140.00 141.00 1.00 0.8 67 0.36
SJOM-962 745123 1847410 301 9 NSI²
SJOM-967 745123 1847410 287 30 124.40 126.00 1.60 0.8 60 0.33
SJOM-974A 745122 1847407 258 34 128.30 131.90 3.60 2.2 234 1.06
SJOM-981 745122 1847406 234 48 213.00 217.00 4.00 1.8 95 0.37
SJOM-990 745122 1847409 256 48 190.80 191.80 1.00 0.4 65 0.41
SJOM-990A3 745122 1847409 256 48 188.40 191.35 2.95 1.2 58 0.40
SJOM-1002 745122 1847406 246 11 85.20 87.30 2.10 2.0 118 0.63
and         90.00 94.20 4.20 3.9 79 0.53
and         105.35 111.15 5.80 5.4 1931 6.76
SJOM-1006A 745212 1847506 268 30 NSI²
SJOM-1008 745212 1847506 275 13 NSI²
SJOM-1026 745125 1847404 223 31 130.55 134.80 4.25 2.4 60 0.49
SJOM-1029 745124 1847404 232 36 129.36 132.35 2.99 1.7 176 1.00
Infill drill holes
SJOM-1011 745124 1847405 227 6 87.00 88.95 1.95 1.6 122 0.56
and         93.90 99.10 5.20 4.4 162 2.19
and         113.00 118.95 5.95 5.0 206 1.24
SJOM-1014 745123 1847406 246 -4 98.77 109.35 10.58 9.5 306 1.38
SJOM-1016 745123 1847406 257 -15 79.20 100.85 21.65 21.3 87 0.41
and         102.00 105.50 3.50 3.4 760 3.24
SJOM-1017 745122 1847406 259 4 87.80 105.40 17.60 15.8 113 0.56
and         106.71 116.12 9.41 8.4 967 4.25
SJOM-1020 745122 1847406 264 -28 78.35 79.84 1.49 1.4 809 2.78
and         78.35 82.58 4.23 4.0 298 1.07
SJOM-1021 745121 1847408 273 -12 111.67 127.97 16.30 14.9 473 1.25
SJOM-1022 745122 1847408 274 0 97.40 104.70 7.30 6.2 154 0.69
and         113.18 124.60 11.42 9.6 225 0.93
SJOM-1023 745125 1847403 217 7 112.45 124.11 11.66 8.6 125 0.76
Holes drilled prior to 2020 in area of interest
SJOM-406 745206 1847507 270 0 175.50 176.50 1.00 1.0 68 0.37
SJOM-413 745206 1847506 251 0 203.45 205.10 1.65 1.6 68 0.34
and         218.30 223.60 5.30 5.2 126 0.51
SJO-839 745185 1847258 295 -45 244.30 247.55 3.25 2.2 129 0.67
SJO-887 745191 1847255 304 -56 264.80 270.30 5.50 3.5 163 0.90
and         280.70 283.80 3.10 1.9 145 0.95
and         292.95 295.15 2.20 1.4 559 3.40
SJO-898 745191 1847255 311 -56 390.15 397.40 7.25 3.6 129 0.51
and         402.40 406.65 4.25 2.1 96 0.55
SJO-906 745137 1847246 299 -46 156.00 158.05 2.05 1.4 163 1.20
SJO-909 745135 1847246 320 -46 240.85 243.20 2.35 1.2 299 1.37
and         247.20 256.35 9.15 4.8 102 0.59
and         278.00 296.60 18.60 9.7 214 1.40
and         308.70 313.80 5.10 2.7 443 0.91

 

Notes:

  1. ETW= Estimated true width
    2. NSI = No significant intervals
    3. SJOM-990A drilled as a twin to SJOM-990 to a depth of 152 meters

 

Posted March 29, 2021

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