28 Mar 2023resource reserve update● Neutral
Technical report covering both the Lindero mine and the adjacent Arizaro project in Salta, Argentina, effective 31 December 2022 - the first to treat Arizaro alongside the operating mine.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
27 Mar 2023resource reserve update● Neutral
Updated technical report on the Yaramoko gold mine, effective 31 December 2022, a year after the first one filed under Fortuna ownership.
13 Mar 2023drilling result▲ GoodMajor
Infill drilling at Sunbird found high grade in ground the model had called low grade inside the planned pit - 10.6 grams of gold a tonne over 21.7 metres true width, 14.9 grams over 14 metres - and extension holes north of the pit shell returned 12.0 grams over 5.6 metres. The aim is to convert Sunbird into reserves and lengthen Séguéla's 1.1 million ounce, nine-year mine plan.
27 Jan 2023drilling progress report● Neutral
An update on reserve and resource work at Yaramoko in Burkina Faso after a year of grade-control and step-out drilling and a rebuild of the estimation method, following the 2022 technical report that first described the 55 Zone open pit.
7 June 2022drilling result▲ GoodMajor
Expansion drilling kept growing Sunbird beyond the March resource envelope, with 18.3 grams of gold a tonne over 11.9 metres true width, 28.2 grams over 3.5 metres and 12.6 grams over 7.7 metres, and visible gold in a hole 100 metres further down-plunge. The deposit is still open.
30 Mar 2022resource reserve update● Neutral
First technical report on the Yaramoko gold mine in Burkina Faso under Fortuna ownership, effective 31 December 2021, replacing Roxgold's 2017 report and describing the planned open pit at the 55 Zone.
18 Mar 2022resource reserve update● Neutral
Filed Roxgold's Séguéla feasibility study technical report, effective 19 April 2021 - the study underlying the mine Fortuna decided to build in September 2021, now filed under its own name after the takeover.
15 Mar 2022drilling result▲ GoodMajor
A first resource for Sunbird put 3.4 million tonnes at 3.16 grams of gold a tonne for 350,000 inferred ounces - found after the decision to build Séguéla was already taken, and not yet counted in the mine plan. Fortuna said it would not materially change the project's existing resource or its construction plan, and the deposit remains open along strike and at depth.
26 Jan 2022drilling result▲ GoodMajor
Sunbird kept delivering ahead of a first resource estimate - 20.2 grams of gold a tonne over 18.2 metres true width and 13.4 grams over 18.9 metres - with coarse visible gold in core and a high-grade core traced over more than 250 metres of strike, still open along strike and at depth. Séguéla was already under construction as a 3,750 tonne a day mine for first gold in mid-2023.
9 Dec 2021drilling result▲ GoodMajor
Twelve rigs turning across the portfolio: 17.5 grams of gold a tonne over 6.3 metres true width at the Sunbird prospect at Séguéla, 0.6 grams of gold with 0.18% copper over 68 metres from surface next to the Arizaro project in Argentina, and, nearly 900 metres below surface at Caylloma, 93 grams of silver with 4.83% lead and 7.81% zinc over 20.48 metres true width in one of the deepest holes yet drilled there, still open at depth.
7 Sept 2021drilling result▲ GoodMajor
First drill results from the West African ground two months after closing Roxgold, and they were strong: 17.2 grams of gold a tonne over 30 metres at Sunbird and 28.8 grams over 7 metres at Koula, both at Séguéla in Côte d'Ivoire, and 17.9 grams over 5.4 metres at Galgouli on the Boussoura project in Burkina Faso.
29 Mar 2021resource reserve update▼ BadMajor
Reserves and resources at all three mines fell at the end of 2020: combined proven and probable reserves at Caylloma and San Jose came to 5.3 million tonnes holding 28.8 million ounces of silver and 170,000 ounces of gold, both down 23% year on year, with inferred resources of 28.5 million ounces of silver. Management attributed it to mining depletion plus the suspension of the 2020 exploration programs under Covid restrictions, and promised a US$16 million brownfields budget and over 53,000 metres of drilling now that Lindero's capital spending was finished.
28 Mar 2019resource reserve update● Neutral
Technical report on the San Jose silver-gold mine in Oaxaca, Mexico, effective 22 February 2019.
28 Mar 2019resource reserve update● Neutral
Technical report on the Caylloma silver-lead-zinc mine in Peru, effective 8 March 2019, filed the same day as the San Jose report.
6 Sept 2018drilling progress report▲ Good
Infill drilling at Lindero to firm up the first year's ore met or beat the block model in 44 of 61 holes, and found gold in a diorite porphyry in the centre of the deposit previously mapped as barren. Fortuna said it would rework the mine plan but that the resource estimate would not change materially. Commercial production was still planned for late in the third quarter of 2019 at about 137,000 ounces in the first full year.
7 Nov 2017resource reserve update● Neutral
The technical report on the Lindero property, effective 31 October 2017, filed behind September's construction decision.
11 Oct 2017drilling progress report▲ Good
Further drilling on the Animas NE vein at Caylloma kept supporting a high-grade shoot still open in two directions - 235 grams of silver a tonne with 6.51% lead and 6.50% zinc over 6.6 metres true width, 160 grams with 4.98% lead and 7.19% zinc over 5.7 metres. The update also covered early-stage work in Argentina and Serbia, some of it through equity stakes and option agreements with Prospero Silver in Mexico and Medgold Resources in Serbia.
18 May 2017drilling progress report▲ Good
Nineteen step-out holes below the current workings on the Animas NE vein at the Caylloma silver mine in Peru confirmed high-grade silver, lead and zinc continuing at depth - 566 grams of silver a tonne with 2.1% lead and 2.7% zinc over 3.6 metres true width, 220 grams with 16.8% lead over 5.2 metres - across 400 metres of strike and 250 metres down dip beyond the estimated resource. The vein is still open at depth and to the north-east.