Fortuna Silver Mines Inc. (TSX:FVI,NYSE:FSM) announced an updated mineral resource estimate for its Mexico-based San Jose mine. It includes an update on the Trinidad North discovery’s mineral resource; it is based on 41 further step-out and 12 infill drill holes.
Highlights of the update include:
- Measured and Indicated Resources total 5.8 Mt containing an estimated 42.3 Moz silver and 334 koz gold, reflecting increases of 42 percent in contained silver ounces and 29 percent in contained gold ounces relative to the July 4, 2013 resource estimate.
- Inferred Resources total 7.1 Mt containing an estimated 58.9 Moz silver and 401 koz gold, reflecting increases of 67 percent in contained silver ounces and 47 percent in contained gold ounces relative to the July 4, 2013 resource estimate.
Dr. Thomas Vehrs, vice president of exploration at Fortuna, commented:
Brownfields exploration drilling has been very successful in the past year at extending the Trinidad North mineralization a further 200 meters to the north. High-grade silver-gold mineralization at Trinidad North remains open to the north and to depth. Underground access and new drilling chambers are currently in preparation to allow for exploration of an additional 250 meter extension of the mineralized system with drilling projected to start from the new drill chambers in September of 2014.