NYSE- and TSX-listed precious metals miner Fortuna Silver Mines produced 100% more gold, year-on-year, from its four operating mines in the Americas and West Africa during the second half of the year with a total of 62 171 oz. 

Silver production of 1.65-million ounces was 13% lower, year-on-year; while gold equivalent production totalled 96 712 oz. 

Silver and gold production in the first half of the year totalled 3.32-million ounces and 128 971 oz, respectively. 

As such, all Fortuna’s mines are on target to achieve their yearly guidance for silver of between 6.2-million ounces and 6.9-million ounces; and between 244 000 oz and 280 000 oz of gold. 

The miner’s gold production was buoyed by contributions of 29 016 oz from the Argentina-based Lindero mine – up 49% year-on-year; while the Burkina Faso-based Yaramoko mine contributed 24 553 oz. 

The decline in silver production was primarily the result of a 9% decrease in head grade at the Mexico-based San Jose mine, but was nonetheless in line with the mineral reserve average grade for the second quarter. 

Fortuna's by-product base metal production, comprising lead and zinc by-products, amounted to 7.6-million pounds of lead and 10.9-million pounds of zinc. 

LATIN AMERICA 

In Latin America, Fortuna reports that absenteeism as a result of the Covid-19 pandemic experienced at the beginning of the year has been significantly mitigated by strong production at all three operating mines in the second quarter. 

The Lindero mine is focussed on capturing higher productivity opportunities in all processes and has been successful at achieving important reductions in key consumables during the second quarter; while silver production at the San Jose and Peru-based Caylloma mines is in line to achieve the upper range of yearly guidance. 

Lindero’s higher gold production is a result of an increase in performance of the three-stage crushing and stacking circuits, which delivered 99% of the 1.5-million tons of ore placed on the pad in the quarter, compared to 46%, or 700 000 t, of the 1.47-million tonnes placed in the comparative 2021 period. 

This mine’s production was 2.2-million tons of mineralised material with a strip ratio of 1:1. In the second quarter of 2022, a total of 1.5-million tonnes of ore were placed on the leach pad, averaging 0.74 g/t of gold and containing 35 784 oz of gold.  

As part of the continuous measures to improve productivity at Lindero, Fortuna’s management has implemented various high impact enhancement initiatives to capture efficiencies at both the processing plant and the mining operation, some of which were implemented during the second quarter. 

These initiatives include the enhancement of cyanide recovery at the SART plant to significantly reduce fresh make-up cyanide consumption; lowering the consumption of sulfuric acid at the sulfidisation, acidification, recycling and thickening plant, while maintaining its efficiency rate and copper balance. They also include enhancing the mining strategy by implementing additional temporary ramps to significantly decrease trucking distance, improve truck productivity, and ultimately reduce trucking hours and total fleet diesel consumption. 

Lindera also experienced a positive reconciliation for ore sent to the leach pad during the second quarter, with grades sampled at the plant being 17% higher than estimated from the reserve model. 

The San Jose mine, on track to achieve yearly guidance, produced 1.38-million ounces of silver and 8 295 oz of gold in the second quarter. 

However, measured against the second quarter of 2021, San Jose’s silver and gold production was 15% and 19% lower, respectively. The decreases are a result of a combination of 7% lower mill throughput, and lower average head grades of 9% for silver and 13% for gold. 

Silver and gold production from San Jose in the first half of the year totalled 2.74-million ounces and 16 534 oz, respectively. 

The San Jose team has successfully implemented long hole stoping in select areas of the mine this year, with the aim to improve production capacity and reduce total mining cost a tonne. 

In addition, a new underground shotcrete plant was commissioned in the second quarter which is expected to reduce overall mining cycle times and support costs. 

The Caylloma mine, on target to meet the upper range of yearly guidance, produced 267 559 oz of silver in the second quarter; while silver production for the first half of the year totalled 579 498 oz. 

Zinc and lead production from Caylloma in the second quarter totalled 10.9-million pounds and 7.6-million pounds, respectively – in line to meet the upper range of guidance. 

Zinc and lead production at this mine during the first half of the year totalled 21.71-million pounds and 16.77-million pounds, respectively. 

AFRICA 

In West Africa, Fortuna’s Yaramoko mine is on track to meet its yearly guidance range; while the Côte d’Ivoire-based Séguéla gold project is progressing on time and on budget with the overall project progress reported at 64% complete as of June 30. 

Yaramoko mine produced 24 553 oz of gold in the second quarter, with an average gold head grade of 5.42 g/t. Gold production at this mine in the first half of the year totalled 52 788 oz. 

Meanwhile, major equipment packages for Séguéla have started to arrive at site and first gold pour is projected for mid-2023; while the miner is preparing for the start of operations there, as well as establishing a regional office to service both Séguéla and the Yaramoko mine.