Fortuna Silver Mines Inc. published its 2023 production results for the Séguéla mine in Côte d’Ivoire on 18 January 2024. The mine produced 2,445 tonnes of gold, exceeding annual production forecasts by 5%. This performance was achieved thanks to the increase in gold production in the fourth quarter (1,340 tonnes) following a 25% increase in mill throughput compared with the previous quarter and the high grade of 3.62 grams per tonne of gold from the Antenna pit.
“The reconciliation of tonnes, grade and ounces of gold mined for the fourth quarter at Antenna shows a positive correlation to the long-term reserve model, with 6% more tonnes of ore mined at 16% higher grades, which translates into 24% more ounces of gold mined compared to the model forecast,” according to the release issued by Fortuna.
Plant performance continued to improve as feed characteristics stabilised and initial bottlenecks were resolved. Recovery in the fourth quarter increased to 94.9%, ahead of the feasibility study assumptions. Plant productivity also continued to improve, with throughput of 186 t/h in the fourth quarter, a 20% increase on the nominal capacity of 154 t/h.
As a reminder, the inauguration ceremony for the Séguéla mine in Côte d’Ivoire took place on 15 September 2023.
Séguéla is Fortuna’s 5th mine and will be a flagship asset in our growing global portfolio. We are extremely proud to celebrate its inauguration with our friends and partners in Côte d’Ivoire. Séguéla poured its first gold ingot on 24 May 2023. At the end of August 2023, production stood at 21,716 ounces of gold. The Company expects to achieve its annual production forecasts for 2023 of between 60,000 and 75,000 ounces of gold.
Pierre Balma
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