Fortuna Silver Mines Inc. (NYSE:FSM, TSX:FVI) updated mineral resource and reserve estimates for the Caylloma Mine located in Peru and for the San Jose Mine in Mexico.
As quoted in the press release:
Highlights of Reserve and Resource Update
- Combined Inferred Resources for Caylloma and San Jose increased to 10.9 Mt containing an estimated 46.8 Moz silver and 273.4 koz gold, reflecting year-over-year increases of 38.5 % in contained silver ounces and 26.6 % in contained gold ounces.
Fortuna’s Vice President of Exploration, Thomas Vehrs, said:
Exploration at the Caylloma Mine in Peru has been successful in significantly expanding the Inferred Mineral Resources. This expansion will directly lead to replacement of the reserves being depleted through production as development workings are extended into the Inferred Resource areas.