Welcome!

News Feed Item

Fortuna Drills 2.8 kg/t Ag and 14.5 g/t Au Over a True Thickness of 4.2 m at Trinidad North Discovery, San Jose Mine, Mexico

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/10/14 -- Fortuna Silver Mines Inc. (TSX:FVI)(NYSE:FSM)(BVLAC:FVI)(FRANKFURT:F4S) is pleased to announce new results for step-out drilling of the Trinidad North discovery located contiguous with the San Jose mine in Oaxaca, Mexico. Assay results are included for eight drill holes completed in January and February of 2014. The results continue to confirm the extension of the Trinidad North zone with high-grade silver-gold mineralization present over wide vein widths. The results reported herein lie within a 200 meter strike extension of the Trinidad system and generally outside of the limits of the existing Inferred Resources.

Highlights of Step-out Drilling:


--  SJOM-337 
    --  498 g/t Ag and 3.03 g/t Au (680 g/t Ag Eq) over estimated true width
        of 6.5 m 

--  SJOM-340 
    --  2,762 g/t Ag and 14.46 g/t Au (3,630 g/t Ag Eq) over estimated true
        width of 4.2 m 

--  SJOM-343 
    --  1,190 g/t Ag and 8.45 g/t Au (1,697 g/t Ag Eq) over estimated true
        width of 10.2 m 

--  SJOM-345 
    --  305 g/t Ag and 2.44 g/t Au ( 452 g/t Ag Eq) over estimated true
        width of 10.3 m 

--  SJOM-346 
    --  1,503 g/t Ag and 7.76 g/t Au (1,969 g/t Ag Eq) over estimated true
        width of 6.5 m and 
    --  600 g/t Ag and 4.20 g/t Au (852 g/t Ag Eq) over estimated true width
        of 18.8 m 

Dr. Thomas I. Vehrs, Vice President of Exploration, commented: "The results of the step-out drilling at Trinidad North confirm the continuation of a very robust mineralized system with mineralization being present in two sub-parallel vein systems (Bonanza Vein and Trinidad Vein) and commonly in the form of stockwork zones between the two structures. The mineralization is closely associated with hydrothermal breccias formed as a result of boiling of the epithermal system with the evidence of boiling persisting to the deepest holes drilled to-date (approximately 600 m below current surface). The mineralization remains open to the north and to depth as well as vertically above the 1200 meter level."

The Trinidad North discovery was announced in February of 2013 (see Fortuna news release of February 4, 2013) and a maiden resource for the Trinidad North zone was announced in October of 2013. At a 70 g/t Ag Eq cutoff, Inferred Resources at Trinidad North are estimated at 1.9 Mt averaging 269 g/t Ag and 1.67 g/t Au, containing 16.3 Moz Ag and 100.8 koz Au. Resource estimates at higher cutoff grades were also presented and the reader is referred to the October 17, 2013 news release for additional information. Step-out drilling of the Trinidad North discovery was initiated in late September of 2013 with initial results being reported in Fortuna news releases dated November 25, 2013 and January 21, 2014. Drilling is currently being carried out from two underground drill stations located at the 1300 meter level with preparations underway to advance the underground access a further 300 meters to the north to allow for further testing of the strike extension of the mineralized system.

Assay Results for Principal Mineralized Intervals - Trinidad North Extension


---------------------------------------------------------------------------
                                Est                                        
            From     To   Int Width     Ag    Au     Pb     Zn    Cu  Ag Eq
Hole_Id       (m)    (m)   (m)   (m)  (g/t) (g/t)  (ppm)  (ppm) (ppm)  (g/t)
---------------------------------------------------------------------------
          266.20 269.00  2.80   1.9    163  0.83 24,386 57,057 4,621    213
          -----------------------------------------------------------------
          272.00 278.00  6.00   4.0    121  0.71  2,926  4,415   155    164
SJOM-337  -----------------------------------------------------------------
          296.10 313.00 16.90  11.7    219  1.38    345    722    44    302
          -----------------------------------------------------------------
          314.90 324.35  9.45   6.5    498  3.03    984  1,684   123    680
---------------------------------------------------------------------------
          437.45 447.00  9.55   4.9    164  1.23    881  1,626   260    238
SJOM-338  -----------------------------------------------------------------
          455.85 457.10  1.25   0.7    328  3.05    973  2,570    84    511
---------------------------------------------------------------------------
          214.30 234.20 19.90  15.8    252  1.29    146    170    19    329
          -----------------------------------------------------------------
SJOM-339  261.00 264.90  3.90   3.1     96  0.57    142    187    12    131
          -----------------------------------------------------------------
          276.15 284.30  8.15   6.1    114  0.52    409  1,028    28    145
---------------------------------------------------------------------------
SJOM-340  265.70 273.00  7.30   4.2  2,762 14.46    777  1,463   285  3,630
          -----------------------------------------------------------------
Including 266.85 267.50  0.65   0.4 27,669   141  4,670  7,700 2,420 36,129
          -----------------------------------------------------------------
          300.00 306.25  6.25   3.6     85  0.40    590  1,637    57    109
---------------------------------------------------------------------------
SJOM-342  311.85 312.45  0.60   0.5    323  1.88     48     84    23    436
---------------------------------------------------------------------------
          231.05 232.00  0.95   0.7    100  0.96  2,750  6,610   675    158
          -----------------------------------------------------------------
SJOM-343  248.40 253.60  5.20   3.6    298  1.27    607  1,184    26    374
          -----------------------------------------------------------------
          272.00 286.95 14.95  10.2  1,190  8.45   1575  2,316   245  1,697
---------------------------------------------------------------------------
          365.85 370.00  4.15   2.3    171  0.93    618    968    54    227
          -----------------------------------------------------------------
SJOM-345  397.65 416.60 18.95  10.3    305  2.44  1,154  2,148   101    452
          -----------------------------------------------------------------
          423.00 430.95  7.95   4.3    102  0.61    703  1,730    67    139
---------------------------------------------------------------------------
          293.50 303.50 10.00   6.5  1,503  7.76  2,697  4,928   152  1,969
SJOM-346  -----------------------------------------------------------------
          340.50 368.00 27.50  18.8    600  4.20  1,429  2,699   288    852
---------------------------------------------------------------------------
(i) Ag Eq values calculated at Au:Ag ratio of 60 based on metal prices of  
US$1,200/oz Au and US$20.00/oz Ag and metallurgical recoveries of 89 % for 
both Au and Ag; Averages calculated at cutoff of 70 g/t Ag Eq              
---------------------------------------------------------------------------

Longitudinal sections for the Bonanza and Trinidad veins showing the location of the step-out drill hole results relative to the Trinidad North maiden resource area are available at the following link: http://www.fortunasilver.com/s/san_jose.asp?ReportID=630015

San Jose Mine

The San Jose mine and processing plant are successfully operating at 1,800 tpd with expansion to 2,000 tpd projected for the start of the second quarter of 2014. Production guidance for 2014 is for the processing of 683,000 tonnes of ore averaging 203 g/t Ag and 1.56 g/t Au, resulting in the estimated production of 4.0 million ounces of silver and 30.4 thousand ounces of gold.

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 the 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-gold 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 acquisition opportunities in the Americas. For more information, please visit our website at www.fortunasilver.com.

ON BEHALF OF THE BOARD

Jorge Ganoza, President, CEO and Director

Fortuna Silver Mines Inc.

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.

Contacts:
Fortuna Silver Mines Inc.
Investor Relations:
Carlos Baca
Tel (Peru): +51.1.616.6060, ext. 0
www.fortunasilver.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In his session at 18th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., will focus on real world deployments of DDoS mitigation strategies in every layer of the network. He will give an overview of methods to prevent these attacks and best practices on how to provide protection in complex cloud platforms. He will also outline what we have found in our experience managing and running thousands of Linux and Unix managed service platforms and what specifically c...
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
The demand for organizations to expand their infrastructure to multiple IT environments like the cloud, on-premise, mobile, bring your own device (BYOD) and the Internet of Things (IoT) continues to grow. As this hybrid infrastructure increases, the challenge to monitor the security of these systems increases in volume and complexity. In his session at 18th Cloud Expo, Stephen Coty, Chief Security Evangelist at Alert Logic, will show how properly configured and managed security architecture can...
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
Unless you don’t use the internet, don’t live in California, or haven’t been paying attention to the recent news… you should be aware that self-driving cars are on their way to becoming a reality. I have seen them – they are real. If you believe in the future reality of self-driving cars, then continue reading on. If you don’t believe in the future possibilities, then I am not sure what to do to convince you other than discuss the very real changes that will roll out with the consumer producti...
A critical component of any IoT project is the back-end systems that capture data from remote IoT devices and structure it in a way to answer useful questions. Traditional data warehouse and analytical systems are mature technologies that can be used to handle large data sets, but they are not well suited to many IoT-scale products and the need for real-time insights. At Fuze, we have developed a backend platform as part of our mobility-oriented cloud service that uses Big Data-based approache...
See storage differently! Storage performance problems have only gotten worse and harder to solve as applications have become largely virtualized and moved to a cloud-based infrastructure. Storage performance in a virtualized environment is not just about IOPS, it is about how well that potential performance is guaranteed to individual VMs for these apps as the number of VMs keep going up real time. In his session at 18th Cloud Expo, Dhiraj Sehgal, in product and marketing at Tintri, will discu...
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
SYS-CON Events announced today that Enzu, a leading provider of cloud hosting solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to foc...
Many private cloud projects were built to deliver self-service access to development and test resources. While those clouds delivered faster access to resources, they lacked visibility, control and security needed for production deployments. In their session at 18th Cloud Expo, Steve Anderson, Product Manager at BMC Software, and Rick Lefort, Principal Technical Marketing Consultant at BMC Software, will discuss how a cloud designed for production operations not only helps accelerate developer...
As the rapid adoption of containers continues, companies are finding that they lack the operational tools to understand the behavior of applications deployed in these containers, and how to identify issues in their application infrastructure. For example, how are multiple containers within an application impacting each other’s performance? If an application’s service is degraded, which container is to blame? In the case of an application outage, what was the root cause of the outage?
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...