Fortuna intersects 88 g/t Au over 3.5m at the Séguéla Mine and provides exploration update
NEWS RELEASE
Fortuna intersects 88 g/t Au over 3.5m at the Séguéla Mine
and provides exploration update
Vancouver, December 12, 2023: Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to provide
an update on its exploration programs at the Séguéla Mine in Côte d’Ivoire, the recently acquired Diamba
Sud Gold Project in Senegal, and the San Jose Mine in Mexico.
Exploration program highlights
Badior prospect, Séguéla Mine, Côte d’Ivoire:
SGRD1683: 17.3 g/t Au over an estimated true width of 6.3 meters from 67 meters, including
49.5 g/t Au over an estimated true width of 1.4 meters from 67 meters
SGRC1682: 16.7 g/t Au over an estimated true width of 5.6 meters from 65 meters, including
121.0 g/t Au over an estimated true width of 0.7 meters from 70 meters, and
13.0 g/t Au over an estimated true width of 2.1 meters from 83 meters
SGRD1689: 10.7 g/t Au over an estimated true width of 2.1 meters from 159 meters, including
29.6 g/t Au over an estimated true width of 0.7 meters from 161 meters
Ancien deposit, Séguéla Mine, Côte d’Ivoire:
SGRD1657: 27.1 g/t Au over an estimated true width of 7.7 meters from 239 meters, including
138.5 g/t Au over an estimated true width of 1.4 meters from 241 meters
SGRC1661: 14.8 g/t Au over an estimated true width of 2.1 meters from 339 meters, and
22.9 g/t Au over an estimated true width of 15.4 meters from 347 meters, including
88.0 g/t Au over an estimated true width of 3.5 meters from 357 meters
SGRD1663: 6.0 g/t Au over an estimated true width of 19.6 meters from 346 meters, including
13.0 g/t Au over an estimated true width of 1.4 meters from 352meters, and
16.4 g/t Au over an estimated true width of 1.4 meters from 358 meters, and
36.4 g/t Au over an estimated true width of 1.4 meters from 362 meters
SGRD1664: 2.2 g/t Au over an estimated true width of 15.4 meters from 361 meters, including
11.3 g/t Au over an estimated true width of 0.7 meters from 368 meters, and
10.2 g/t Au over an estimated true width of 0.7 meters from 370 meters
Sunbird deposit, Séguéla Mine, Côte d’Ivoire:
SGRD1695: 5.0 g/t Au over an estimated true width of 14.7 meters from 341 meters, including
27.7 g/t Au over an estimated true width of 2.1 meters from 347 meters
SGRC1698: 4.9 g/t Au over an estimated true width of 8.4 meters from 200 meters
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SGRD1696: 4.9 g/t Au over an estimated true width of 3.5 meters from 235 meters, including
16.9 g/t Au over an estimated true width of 0.7 meters from 236 meters, and
6.2 g/t Au over an estimated true width of 1.4 meters from 263 meters
Paul Weedon, Senior Vice President of Exploration at Fortuna, commented, “ With the successful
commissioning and ramp-up of the Séguéla Mine, the exploration focus has been directed towards the
regional potential, featuring the emerging Badior prospect. Recent results include drill hole SGRC 1683
intersecting 17.3 g/t Au over an estimated true width of 6.3 meters. In addition, the exploration teams are
building the foundation for potential long term underground mining at the Ancien and Sunbird deposits,
encouraged by results such as drill hole SGRD1661 intersecting 22.9 g/t Au over an estimated true width
of 15.4 meters at Ancien.”
Diamba Sud Gold Project, Senegal:
DSR503: 7.5 g/t Au over an estimated true width of 16.2 meters from 75 meters
DSDD129: 9.9 g/t Au over an estimated true width of 11.7 meters from 12 meters
DSR491: 3.9 g/t Au over an estimated true width of 26.1 meters from 66 meters, and
5.8 g/t Au over an estimated true width of 13.5 meters from 104 meters
DSR490: 3.1 g/t Au over an estimated true width of 29.7 meters from 7 meters
DSR506: 3.0 g/t Au over an estimated true width of 23.4 meters from 36 meters, and
6.7 g/t Au over an estimated true width of 8.1 meters from 71 meters
DSDD131: 9.1 g/t Au over an estimated true width of 5.6 meters from 96.4 meters
Mr. Weedon continued, “Exploration drilling at the recently acquired Diamba Sud Gold Project has
returned very encouraging results from the initial confirmatory drilling at Area A, with results such as drill
hole DSR490 intersecting 3.1 g/t Au over an estimated true width of 29.7 meters from 7 meters, while
hole DSR487 highlights the potential to increase the overall footprint of the Area A prospect with an
interval of 2.3 g/t Au over an interval of 15.3 meters, extending beyond the historic mine design limit. With
the team on the ground operating well after the conclusion of the Diamba Sud acquisition, I am very happy
with the progress as we look forward to advancing the project in 2024.”
Yessi vein, San Jose Mine, Mexico:
SJOM-1357: 204 g/t Ag Eq over an estimated true width of 7.1 meters from 167.30 meters
SJOM-1366A: 153 g/t Ag Eq over an estimated true width of 1.5 meters from 573.45 meters, and
258 g/t Ag Eq over an estimated true width of 1.0 meters from 636.40 meters
SJO-1417: 858 g/t Ag Eq over an estimated true width of 0.5 meters from 579.55 meters
SJOM-1418: 185 g/t Ag Eq over an estimated true width of 0.8 meters from 406.00 meters
SJOM-1428: 545 g/t Ag Eq over an estimated true width of 17.0 meters from 342.75 meters
SJO-1430: 1,431 g/t Ag Eq over an estimated true width of 1.1 meters from 593.50 meters, and
250 g/t Ag Eq over an estimated true width of 4.0 meters from 668.85 meters
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SJO-1431: 195 g/t Ag Eq over an estimated true width of 5.2 meters from 601.30 meters
Mr. Weedon also highlighted the continuing work at the San Jose Mine where drilling to define the recently
discovered Yessi vein has provided further insights into the regional structural controls with encouraging
results, including 1,431 g/t Ag Eq over an estimated true width of 1.1 meters and a further 250 g/t Ag Eq
over an estimated true width of 4 meters from SJO-1430, and 545 g/t Ag Eq over an estimated true width
of 17.0 meters from SJOM-1428. “The structural complexity of the Yessi vein helps validat e the wider
regional structural understanding and highlight s opportunities for additional near -mine exploration
targets.”
Séguéla Mine, Côte d’Ivoire
Drilling for increased geologic confidence and understanding of key high -grade controls at the Badior
prospect was recently concluded, with 8 holes drilled totalling 1,691 meters (refer to Figure 1). Drilling has
broadly outlined a gently northerly plunging high-grade lode which remains open at depth, with drill hole
SGRD1689 intersecting 10.7 g/t Au over 2.1 meters from 159 meters downhole. The interpreted northerly
plunge is unusual for mineralization at Séguéla which ty pically demonstrates a shallow to moderate
southerly plunge, and which may represent a new or antithetic structural control. Further work is planned
for 2024.
Figure 1: Badior long-section showing select recent results (looking west)
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At Ancien, 9 holes for a total of 3,258 meters were completed (refer to Figure 2). This short program was
designed to improve the understanding of the structural controls on the high-grade lodes hosting multiple
intervals such as those intersected in drill holes SGRD1661 and SGRD 1663. This increased geological
confidence and understanding will help support an evaluation of the underground mining potential at
Ancien, where the deposit remains open at depth. Further work is planned for 2024.
Figure 2: Ancien long-section showing select recent results (looking west)
At Sunbird, a comprehensive infill drilling program consisting of 47 holes totaling 11,075 meters, was
completed in August 2023 (refer to Fortuna news release dated August 8, 2023 ). The infill drilling was
followed by a program to continue testing the extent of mineralization. Results were received for 8 holes
totalling 2,100 meters completed in the southern section of the deposit (refer to Figure 3). This short
program was designed to improve the understanding of the structural controls projected a further
200 meters down-plunge from the last drilling sections with encouraging results including SGRD1695
intersecting 5.0 g/t Au over an estimated true width of 14.7 meters from 341 meters downhole. This
increased geological confidence and understanding will help support an evaluation of the underground
mining potential at Sunbird, where the deposit remains open at depth. Further work is planned for 2024.
Refer to Appendix 1 for full details of the Séguéla drill holes and assay results.
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Figure 3: Sunbird long-section showing select recent results (looking west)
Diamba Sud Gold Project, Senegal
At Diamba Sud, a 10,945-meter, three-drill rig drilling program started on October 8, 2023, with 34 holes
completed for 4,976 total meters drilled to date. The objectives of the program are as follows:
• Selected confirmatory drilling of Area A, Area D, and Karakara to improve resource confidence
• Drilling to test for extensions to the existing historic resource in support of project development
and advancing further studies in 2024
• Advancing prospective areas such as Gamba Gamba North, Southern Arc, Western Splay,
Area A North, and others
• Improved understanding of key geological controls including controlling structures, favorable
lithologies, alteration and secondary enrichment zones
The Area A prospect is structurally complex with interpreted supergene mineralization overlaying primary
mineralization preferentially hosted in a broad sedimentary package , which has been intersected by
steeper mineralized structures and folding. Mineralization remains open along strike and at depth, as
demonstrated by drill hole DSR490 intersecting 1.3 g/t Au over an estimated true width of 7.2 meters from
176 meters, and an additional 1.0 g/t Au over an estimated true width of 18.9 meters from 188 meters,
extending mineralization beyond the historic pit design (refer to Figures 4 - 6).
This program will continue for the remainder of 2023 with additional drilling programs, including regional
exploration and target generation budgeted for 2024.
Refer to Appendix 2 for full details of the Diamba Sud Gold Project drill holes and assay results.
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Figure 4: Diamba Sud Gold Project location plan
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Figure 5: Area A drilling location plan
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Figure 6: Area A cross section A - A’; refer to Figure 5 for location
Figure 7: Area A cross section B - B’; refer to Figure 5 for location
San Jose Mine, Mexico
Drilling of the recently discovered Yessi vein (refer to Fortuna news release filed on SEDAR+ on
September 5, 2023) has continued with the objective of defining the structural relationship between the
Yessi vein and the various systems at the San Jose Mine with 13 additional holes completed for a total of
7,444 meters.