Fortuna Reports Silver and Gold Production Increases for Q3

Fortuna Silver Mines Inc. (TSX:FVI,NYSE:FSM) announced Q3 production results from its two underground Latin American mines, commenting that they put out 1.8 million ounces of silver and 9,751 ounces of gold. They also produced some base metals as by-products.

Specific production figures are as follows:

• Silver production of 1,803,827 ounces; 63 % increase over Q3 2013
• Gold production of 9,751 ounces; 116 % increase over Q3 2013
• Lead production of 4,213,192 pounds; 11 % decrease over Q3 2013
• Zinc production of 7,148,465 pounds; 11 % increase over Q3 2013

Jorge A. Ganoza, president and CEO of Fortuna, commented:

It is with great satisfaction that we see how our teams continue to capture opportunities to improve on our cost performance and annual production guidance. This operating performance translates directly to our bottom line results. We continue moving forward with our plans to expand the San Jose mine to three thousand tonnes per day capacity by mid-2016. With the San Jose expansion, Fortuna will be targeting a consolidated annual production rate of approximately nine million ounces of silver and fifty thousand ounces of gold. So far this year, we have been benefitting from the right commodity mix at our Caylloma mine. We have mitigated the impact of twenty-two percent lower silver prices for the year by gearing the mine towards base metal zones. Zinc production is up twenty-five percent against budget at a time when zinc prices are up twenty-three percent against our budget and twenty-two percent for the year.

Click here to read the full Fortuna Silver Mines Inc. (TSX:FVI,NYSE:FSM) press release.