Canadian mining company Fortuna Silver Mines Inc., operator of the first surface gold mine in the province of Salta, in Argentina, has announced robust gold production figures for the first quarter of 2024, stemming from its five operational mines located across West Africa and Latin America. Gold and silver production for the quarter stood at 89,678 ounces and 1.1 million ounces, respectively, amounting to 112,543 gold equivalent ounces, inclusive of lead and zinc by-products.
By Panorama Minero
In Argentina, the Lindero gold mine, developed through subsidiary Mansfield Minera in Salta, demonstrated consistent performance in line with annual production targets. During this period, 2 million tonnes of ore were extracted, with a striping ratio of 0.54:1. Of this, 1.55 million tonnes of ore were deposited onto the leach pad, boasting an average gold grade of 0.60 g/t, equivalent to approximately 29,670 ounces of gold.
Gold production at Lindero during this quarter amounted to 23,262 ounces, inclusive of 20,423 ounces in doré bars, 2,814 ounces of gold contained in fine carbon, and 25 ounces integrated into copper concentrate. Although representing a 21% decrease compared to the previous quarter, this decline is attributable to the lower ore grade deposited on the leach pad and a reduction in the inventory of gold-rich carbon. "It is important to note that gold production remains in accordance with the mining sequence and Mineral Reserves estimates," they reported.
Meanwhile, progress on the $41 million leach pad expansion project has reached approximately 35% completion as of March 31, 2024. The construction phase, initiated in January 2024, has achieved an 18% milestone, with on-site contractors actively engaged in earthworks and the establishment of the impulsion line. Knight Piésold consultants have been awarded the procurement and construction management (PCM) service, with project offices operational since the third quarter of 2023.
Procurement stands at an 92% completion, with critical path items already on-site. Essential materials such as geomembrane and geosynthetic clay liner are in route, and the fabrication of pumps for the new impulsion line remains on schedule. Anticipated activities for the upcoming quarter include liner installation and major mechanical works, with a project completion date set for the fourth quarter of 2024. Ore placement operations are slated to commence by the end of 2024, aligning seamlessly with the stacking plan for the year.
