Fortuna intersects 90.9 g/t Au over 1.8 meters at Barana Prospect, Séguéla Mine, Côte d´Ivoire
Fortuna intersects 90.9 g/t Au over 1.8 meters at Barana Prospect,
Séguéla Mine, Côte d´Ivoire
Vancouver, August 8, 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 Yaramoko Mine in Burkina
Faso, and the Baborigame Project in Mexico.
Paul Weedon, Senior Vice President of Exploration at Fortuna, commented, “Infill drilling at the Sunbird
Deposit to upgrade geologic confidence has concluded, with the next phase of estimation, optimization,
and design having commenced as part of reserve development and expected life -of-mine extension for
the Séguéla Mine. With this underway, the focus has returned to generating new anomalies and testing
prospects, with positive near surface results at Barana emphasising the regional pot ential; such as drill
hole SGRD1647 intersecting 90.9 g/t Au over an estimated true width of 1.8 meters.”
Mr. Weedon continued, “Recent drilling of Zone 55 at the Yaramoko Mine has identified high grade
mineralization extending at least 130 meters beyond the current resource envelope to the west ,
confirmed by recent mine development in the area, with intervals such as 32.8 g/t Au over an estimated
true width of 3.1 meters in drill hole YRM-23-GCDD-203.”
Mr. Weedon concluded, “In addition to the encouraging results from West Africa, first pass drilling to test
geological concepts at our Baborigame Project in Mexico was successful in testing several vein arrays,
intersecting multiple mineralized zones such as 2.7 g/t Au and 155 g/t Ag over an estimated true width of
4.04 meters in drill hole BAB-22-004.”
Séguéla Mine, Cote d’Ivoire
Sunbird Deposit drilling highlights:
• SGRD1586: 12.7 g/t Au over an estimated true width of 18.9 meters from 147 meters
• SGRD1580: 22.2 g/t Au over an estimated true width of 2.1 meters from 115 meters and
7.5 g/t Au over an estimated true width of 23.8 meters from 128 meters
• SGRD1615: 16.2 g/t Au over an estimated true width of 8.4 meters from 270 meters
• SGRD1585: 28.7 g/t Au over an estimated true width of 2.8 meters from 151 meters
• SGRD1599: 4.7 g/t Au over an estimated true width of 13.3 meters from 81 meters
• SGRD1281: 10.7 g/t Au over an estimated true width of 5.6 meters from 199 meters (re-entered hole)
Infill drilling for increased geologic confidence at the Sunbird Deposit was recently completed , with
47 holes drilled totalling 11,075 meters of a n expanded 15,126 meter program , increased from
9,500 meters due to continued positive results. Drilling has intersected high grade mineralization close to
the margins of the pit optimization limit. Drill hole SGRD1580 intersected several zones of mineralization
including 22.2 g/t Au over a true width of 2.1 meters and 7.5 g/t Au over a true width of 23.8 meters while
a re-entered drill hole, SGRD1281, intersected 10.7 g/t Au over a true width of 5.6 meters on the margin
of the current pit optimization shell ( Figure 1). Results will be incorporated into an updated Mineral
Resource and Mineral Reserve estimate prior to pit optimization and design of a revised Séguéla life-of-
NEWS RELEASE
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mine planned for release in the fourth quarter of 2023.
Further drilling to test the depth potential of the southerly plunging high grade shoots is planned for the
second half of 2023. Refer to Appendix 1 for f ull results of all holes drilled in this phase of the Sunbird
exploration program.
Figure 1: Sunbird Deposit long-section showing select recent drilling results (looking west)
Barana and Badior drilling highlights:
• SGRD1647: 90.9 g/t Au over an estimated true width of 1.8 meters from 43 meters (Barana)
• SGRD1634: 1.4 g/t Au over an estimated true width of 8.1 meters from 77 meters (Barana)
• SGRD1641: 2.4 g/t Au over an estimated true width of 5.4 meters from 67 meters (Barana)
• SGRD1623: 4.9 g/t Au over an estimated true width of 12.6 meters from 110 meters (Badior)
At the Barana and Badior prospects (Figure 2), 30 holes totaling 3,907 meters were drilled (Figure 3) with
the objective of testing the strike extent and continuity of mineralization identified in the first scout
drilling program (refer to Fortuna news release dated December 5, 2022). In addition, the drilling program
was designed to provide greater understanding of the key structures associated with mineralization
controls as well as grade distribution along the principal structures.
Further drilling is planned for later in 2023. Refer to Appendix 1 for full results received for all drill holes
drilled in this phase of the Barana and Badior drilling program.
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Figure 2: Séguéla Mine location plan highlighting key exploration prospects
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Figure 3: Barana and Badior plan showing recent drilling results
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Yaramoko Mine, Burkina Faso
A successful drilling program of 29 holes for a total of 7,011 meters was completed at the Yaramoko Mine,
testing the strike and vertical extent of high grade extensions to the Zone 55 mineralization to the west,
and limited strike extent testing to the lower east levels of the underground operation. Based on the
positive exploration results, management expects to provide an updated Mineral Resource and Mineral
Reserve estimate for the Yaramoko Mine before the end of the year.
Zone 55 drilling highlights:
• YRM-22-GCDD-184: 9.6 g/t Au over an estimated true width of 5.5 meters from 254.10 meters
• YRM-23-GCDD-203: 32.8 g/t Au over an estimated true width of 3.1 meters from 287.90 meters
• YRM-23-GCDD-205: 13.2 g/t Au over an estimated true width of 4.6 meters from 302.28 meters
• YRM-23-GCDD-224: 8.9 g/t Au over an estimated true width of 8.2 meters from 120.95 meters
• YRM-23-GCDD-227: 8.8 g/t Au over an estimated true width of 8.6 meters from 140.10 meters
Drilling to the west has intersected new high grade mineralization beyond the boundary of the
2022 Mineral Resource (refer to Fortuna news release dated March 21, 2023 ), with recent mine
development extending approximately 130 meters beyond the previous design (Figure 4). Drilling will
continue to test the depth potential in the second half of 2023 , which remains open and where the
deepest intersection returned 10.6 g/t Au over a true width of 2.3 meters in drill hole GCDD-207.
Figure 4: Zone 55 long-section showing recent drilling results
Step-out drilling to the east and at depth has also continued to identify the Zone 55 mineralized structure
beyond the limits of the 2022 Mineral Resource boundary, with encouraging results including drill hole
GCDD-224 returning 8.9 g/t Au over a true wid th of 8.2 meters at (Figure 4). Drilling will continue in the
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second half of 2023. Refer to Appendix 2 for full results of all holes drilled in this phase of the Yaramoko
exploration program.
Baborigame Project, Mexico
A program of 14 diamond drill holes over two phases totaling 3,902 meters was conducted between late
2022 and 2023 as part of a “proof of concept” evaluation of the Baborigame Project. Baborigame is located
within the central Sierra Madre Occidental , a major mountain range system of the North American
Cordillera, in southwestern Chihuahua, Mexico.
Baborigame drilling highlights:
• BAB-22-004: 2.7 g/t Au and 155 g/t Ag over an estimated true width of 4.04 meters from
192.00 meters
• BAB-23-010: 3.3 g/t Au and 538 g/t Ag over an estimated true width of 1.20 meters from
191.00 meters
• BAB-23-009: 2.4 g/t Au and 314 g/t Ag over an estimated true width of 2.04 meters from
188.15 meters
Exploration drilling focused on testing key structural zones at productive geologic horizons beneath high-
level epithermal expressions observed at surface (Figure 5), 10 of the 14 drill holes returned positive
exploration results and warrant further work. Further drilling is scheduled for the second half of
2023 targeting the western extension of Cebollas West and the undrilled Los Pinos structure where
surface rock sampling returned up to 10 g/t Au and 369 g/t Ag. Refer to Appendix 3 for full results of all
holes drilled in this phase of the Baborigame exploration program.
Figure 5: Baborigame plan view of drill testing at Los Pinos and the western extension of the Cebollas
West zone; refer to Figure 6 and Figure 7 for cross-sections 1 and 2
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Figure 6. Cross-section 1 of drill testing at Los Pinos and the western extension of the Cebollas West zone
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Figure 7. Cross-section 2 of drill testing at Los Pinos and the western extension of the Cebollas West zone