VANCOUVER, British Columbia, Oct. 10, 2024 (GLOBE NEWSWIRE) — Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) reports production results for the third quarter of 2024 from its five operating mines in West Africa and Latin America.
Q3 2024 Production highlights
- Gold equivalent production of 110,820 ounces;1; compared to 128,671 oz Au Eq in Q3 20232 and 116,570 oz Au Eq in Q2 20243
- Gold production of 91,251 ounces; compared to 94,821 oz Au in Q3 20232 and 92,716 oz Au in Q2 20243
- Silver production of 816,187 ounces; compared to 1,680,751 oz Ag in Q3 20232 and 990,574 oz Ag in Q2 20243
- Zinc and lead production of 12.8 million and 10.0 million pounds; compared to 14.0 million and 10.3 million pounds in Q3 20232, respectively
- Lindero leach pad expansion is the largest capital project of the Company in 2024. As of the end of September, the $41.7 million capital investment was approximately 76 percent complete and on budget. First ore to the new leach pad is planned for later this month
Consolidated gold and silver production for the nine months of 2024 totaled 273,645 ounces and 2.9 million ounces, respectively, or 339,933 ounces of gold equivalent1, including lead and zinc by-products. Fortuna reiterates its 2024 annual production guidance range of between 457 and 497 thousand ounces of gold equivalent ounces4, including lead and zinc by-products (refer to Fortuna news release dated January 18, 2024).
Q3 2024 Consolidated Gold and Silver Production
| Gold Production (oz) | Silver Production (oz) | ||||||||
| Q3 2024 | Q3 2023 | 9 months 2024 | Guidance 2024 (koz) | Q3 2024 | Q3 2023 | 9 months 2024 | Guidance 2024 (Moz) | ||
| Lindero, Argentina | 24,345 | 20,933 | 70,481 | 93 – 105 | – | – | – | – | |
Notes:
- Au Eq includes gold, silver, lead, and zinc and is calculated using the following metal prices: $2,490/oz Au, $29.4/oz Ag, $2,040/t Pb, and $2,782/t Zn or Au:Ag = 1:84.78, Au:Pb = 1:1.22, Au:Zn = 1:0.90
- Refer to Fortuna news release: October 5, 2023, “Séguéla drives Fortuna to record gold equivalent production of 128,671 ounces in the third quarter 2023“
- Refer to Fortuna news release: July 9, 2024, “Fortuna reports solid production of 116,570 gold equivalent ounces for the second quarter of 2024“
- Au Eq includes gold, silver, lead, and zinc and is calculated using the following metal prices: $1,800/oz Au, $22/oz Ag, $2,000/t Pb, and $2,500/t Zn or Au:Ag =
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