Silver mining company completes expansion project
South America-based silver producer Fortuna Silver Mines has completed a 1 800 t/d mill expansion on time and within budget at its fully owned silver and copper San Jose mine, in Mexico.
San Jose is located in the Taviche mining district in the southern portion of the state of Oaxaca, about 47 km south of the City of Oaxaca.
The mine’s expansion project, which saw capital expenditure of $9-million, has now put the company on schedule to meet its yearly production guidance of 4.5-million ounces of silver and 23 600 oz of gold or 5.9-million silver-equivalent ounces.
“Once again, our project team did an exceptional job in delivering the construction and commissioning of the mill expansion on time and on budget,” Fortuna Silver president and CEO Jorge Ganoza says.
He adds that the processing plant’s milling capacity has been increased by 57%, from 1 150 t/d to 1 800 t/d.
“Moving forward, our focus at San Jose is to incorporate the high-grade Trinidad North discovery into our production plans by the first quarter of 2015.”
The 64 400 ha land package holds considerable potential for the discovery of new gold- and silver-bearing deposits in the general vicinity of the San Jose mine.
At the mine’s Trinidad North discovery, exploration drilling continues to intercept consistent grades and thicknesses, with about 736 g/t silver and 4.8 g/t gold over an estimated true width of 19.3 m.
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