The Lindero gold project has entered its “final stretch” of construction, with the Argentina-based mine project now 70% complete and preproduction mining under way.
The initial blasting on mineral reserves started earlier this month and the mine is planned to build stockpiles of reserves ahead of stacking on the leach pad by the fourth quarter.
First doré pour is planned in the first quarter of 2020, NYSE- and TSX-listed Fortuna Silver reported on Friday.
“The Lindero mineralised body presents us with important economic benefits that can be captured right from the start of mining. There is no pre-stripping required and high-grade gold mineral reserves will be accessed with a low strip ratio below one in the first year,” said president and CEO Jorge Ganoza.
At the end of August, Fortuna has spent a total of $240.8-million of the budgeted $298-million on the project.
An 8 MW power plant is being pre-commissioned and the medium voltage power distribution system is complete.
The project’s workforce to date is 2 350 people, 98% of whom are Argentinian nationals.
Lindero has been designed as an 18 750 t/d owner-operated openpit mine with a pit life of 13 years based on existing mineral reserves.
In its first full year of operation, Lindero is planned to produce between 145 000 oz to 160 000 oz of gold.
Fortuna's consolidated precious metals production is expected to increase in 2020 to between 7.5-million and 8.3-million ounces of silver and between 189 000 oz and 209 000 oz of gold, or between 293 000 oz and 324 000 oz of gold equivalent.