Name of the Project
Séguéla gold project.

Location
Worodougou region of the Woroba District, Côte d’Ivoire.

Project Owner/s
Fortuna Silver Mines.

Project Description
Séguéla has total mineral reserves of 12.06-million tonnes.

The project has a mine life of 8.6 years, during which it is expected to produce 1.03-million ounces of gold, with average gold production estimated at 120 000 oz/y.

The project involves the development of an openpit mining operation, targeting a series of openpit mines at the Antenna, Koula, Ancien, Agouti and Boulder deposits that will feed a central gold processing facility.

Conventional openpit mining methods will be used at Séguéla.

Drilling and blasting are planned for oxide and fresh mineralised material, followed by conventional truck-and-shovel operations within the pits for the movement of mineralised material and waste.

The processing plant will have a capacity of 1.25-million tonnes a year, increasing to 1.57-million tonnes a year in Year 3 through a series of optimisation and debottlenecking measures.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at a 5% discount rate and gold price of $1 600/oz, of $380-million and an internal rate of return of 49%, with a payback of 1.7 years.

Capital Expenditure
$173.5-million.

Planned Start/End Date
The project is expected to take 20 months to complete, with first gold expected by mid-2023.

Latest Developments
Bulk earthworks contractors have been mobilised and will break ground at the plant site in October, with the accommodation village expected to be completed in November.

Parallel to construction, Fortuna will continue with drilling programmes to test multiple remaining targets on the Séguéla property, where the exploration team has delivered gold discoveries at the Koula, Sunbird and Gabbro North prospects over the past 12 months.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Fortuna Silver Mines, email info@fortunasilver.com.