Name of the Project
Séguéla gold project.

Location
Worodougou region of the Woroba District, Côte d’Ivoire.

Project Owner/s
Fortuna Silver Mines.

Project Description
Séguéla has total mineral reserves of 12.06-million tonnes.

The project has a mine life of 8.6 years, during which it is expected to produce 1.03-million ounces of gold, with average gold production estimated at 120 000 oz/y.

The project involves the development of an openpit mining operation, targeting a series of openpit mines at the Antenna, Koula, Ancien, Agouti and Boulder deposits that will feed a central gold processing facility.

Conventional openpit mining methods will be used at Séguéla.

Drilling and blasting are planned for oxide and fresh mineralised material, followed by conventional truck-and-shovel operations in the pits for the movement of mineralised material and waste.

The processing plant will have a capacity of 1.25-million tonnes a year, increasing to 1.57-million tonnes a year in Year 3 through a series of optimisation and debottlenecking measures.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at a 5% discount rate and gold price of $1 600/oz, of $380-million and an internal rate of return of 49%, with a payback of 1.7 years.

Capital Expenditure
$173.5-million.

Planned Start/End Date
The project is expected to take 20 months to complete, with first gold expected by mid-2023.

Latest Developments
Fortuna Silver Mines has announced a maiden inferred mineral resource estimate of 350 000 oz at 3.16 g/t gold at the Sunbird discovery at its Séguéla project.

The Sunbird discovery remains open along strike and at depth, providing excellent potential for additional growth, based on the ongoing expansion drilling programme under way.

The inferred resource will not materially change the existing mineral resource estimate at Séguéla or impact on its construction plan, Fortuna has noted.

The Sunbird deposit is about 1.5 km to the south-east of the Antenna deposit at Séguéla.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Fortuna Silver Mines, email info@fortunasilver.com.