Fortuna reports solid production of 110,820 gold equivalent ounces for the third quarter of 2024

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 ounces1; 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 months2024

Guidance2024 (Moz)

Lindero, Argentina

24,345

20,933

70,481

93 - 105

-

-

-

-

Yaramoko, Burkina Faso

28,006

34,036

86,630

105 - 119

-

-

-

-

Séguéla, Côte d'Ivoire

34,998

31,498

102,537

126 - 138

-

-

-

-

San Jose, Mexico

3,771

8,205

13,573

19 - 23

510,741

1,372,530

1,954,028

3.1 - 3.6

Caylloma, Peru

131

149

424

-

305,446

308,221

927,304

0.9 - 1.1

Total

91,251

94,821

273,645

343 - 385

816,187

1,680,751

2,881,332

4.0, 4.7

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 = 1:81.82, Au:Pb = 1:0.90, Au:Zn = 1:0.72

West Africa Region

Séguéla Mine, Côte d'Ivoire: On-track to meet upper end of annual guidance

 

Q3 2024

Q2 2024

Tonnes milled

418,390

318,457