Welcome To The Fortuna Silver Mines Hub On AGORACOM
Building the Foundations of a Leading Silver Miner
  • Demo Video
  • Private Messages
  • Edit My Profile
  • View/Edit Portfolio

AGORACOM News Flash

AGORACOM Small Cap Stock TV – July 23, 2014


Good afternoon to you all. Please find enclosed a summary of the breaking small-cap and micro-cap financial news we highlighted on our TV show.

Here's today's featured companies:

  • Virtutone Networks VFX.V),
  • BlackBerry (BB.T),
  • Fission Uranium (FCU.V),
  • Cayden Resources (CYD.V),
  • Rockhaven Resources (RK.V)
  • Pilot Gold (PLG.T)

Watch It Now!

Message: Fortuna closes transaction for the Taviche OesteConcession, and drills

Fall_walk_oct05_012
Rank: [?]
President
Points: [?]
55821
Rating: [?]
Votes: 294 Score: 3.9
  • Currently 3.9/5 Stars.
Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.

Fortuna closes transaction for the Taviche OesteConcession, and drills

posted on Feb 04, 13 07:40AM
427 g/t Ag and 2.77 g/t Au over 12.3 m on new extension zone at San Jose mine, Mexico

.

.

VANCOUVER, Feb. 4, 2013 /PRNewswire/ - Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) (BVL: FVI) (Frankfurt: F4S.F) is pleased to announce that the transaction to acquire the Taviche Oeste Concession (Fortuna news release January 24, 2013) has now closed. Fortuna has acquired a 55 percent interest in the property for a US$4 million cash payment and entered into an option agreement whereby upon announcement of a production decision, Fortuna may purchase the remaining 45 percent interest for a US$6 million payment. The Taviche Oeste concession is subject to NSR royalties totaling 2.5 percent.

San Jose Drilling Results

Fortuna is also pleased to report the results of exploration drilling carried out to test for extensions to depth and to the north of the Trinidad ore shoot at the San Jose Mine in Mexico.

Highlights:

  • SJO-261
    • 241 g/t Ag and 1.57 g/t Au (330 g/t Ag Eq) over estimated true width of 10.7 m, and
    • 1370 g/t Ag and 7.89 g/t Au (1817 g/t Ag Eq) over estimated true width of 2.4 m
  • SJO-266
    • 427 g/t Ag and 2.77 g/t Au (584 g/t Ag Eq) over estimated true width of 12.3 m, and
    • 532 g/t Ag and 3.44 g/t Au (727 g/t Ag Eq) over estimated true width of 2.4 m, and
    • 867 g/t Ag and 4.36 g/t Au (1114 g/t Ag Eq) over estimated true width of 1.8 m
  • SJO-268
    • 320 g/t Ag and 1.45 g/t Au (402 g/t Ag Eq) over estimated true width of 7.2 m

Dr. Thomas Vehrs, VP Exploration, commented: "The extension of the Trinidad ore shoot to the north and to depth beyond the limits of the currently defined mineral resources provides Fortuna with a significant opportunity for expansion of the mineral resources and reserves at the San Jose Mine. With the completion of our acquisition of the Taviche Oeste concession, Fortuna is now positioned to continue the exploration of the Trinidad deposit to the north and to further explore extensions of the mineralized system to the south."

Full assay results for the principal mineralized intervals in the fourteen drill holes completed in 2012 are appended to this news release. The drilling has successfully demonstrated the continuation of robust ore grade mineralization in the Trinidad ore shoot to depth and to the north with the mineralization remaining open in both directions. Exploration drilling is continuing in 2013 to further define the extensions of the Trinidad ore shoot and to allow for incorporation of the results into the 2013 resource/reserve and mine plan updates.

Quality Assurance & Quality Control

Following detailed geological and geotechnical logging, drill core samples are split on-site by diamond sawing. One half of the core is submitted to the ALS Chemex Laboratory in Guadalajara, Mexico. The remaining half core is retained on-site for verification and reference purposes. Following preparation, the samples are assayed for gold and silver by standard fire assay methods and for silver and base metals by ICP and atomic absorption methods utilizing aqua regia digestion. The QA-QC program includes the blind insertion of certified reference standards and assay blanks at a frequency of approximately 1 per 15 normal samples.

Qualified Person

Thomas I. Vehrs, Ph.D., Vice President of Exploration is a Qualified Person for Fortuna Silver Mines Inc. as defined by National Instrument 43-101. Dr. Vehrs is a Founding Registered Member of the Society for Mining, Metallurgy, and Exploration, Inc. (SME Registered Member Number 3323430RM) and is responsible for ensuring that the information contained in this news release is an accurate summary of the original reports and data provided to or developed by Fortuna Silver Mines.

Fortuna Silver Mines Inc.

Fortuna is a growth oriented, silver and base metal producer focused on mining opportunities in Latin America. Our primary assets are the Caylloma silver mine in southern Peru and the San Jose silver-gold mine in Mexico. The company is selectively pursuing additional acquisition opportunities. For more information, please visit our website at www.fortunasilver.com.

ON BEHALF OF THE BOARD

Jorge A. Ganoza
President, CEO and Director
Fortuna Silver Mines Inc.

Trading symbols: NYSE: FSM | TSX: FVI | BVL: FVI | Frankfurt: F4S.F

Forward-Looking Statements

This news release contains forward-looking statements which constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. When used in this document, the words such as "anticipates", "believes", "plans", "estimates", "expects", "forecasts", "targets", "intends", "advance", "projects", "calculates" and similar expressions are forward-looking statements.

The forward-looking statements are based on an assumed set of economic conditions and courses of actions, including estimates of future production levels, expectations regarding mine production costs, expected trends in mineral prices and statements that describe Fortuna's future plans, objectives or goals. There is a significant risk that actual results will vary, perhaps materially, from results projected depending on such factors as changes in general economic conditions and financial markets, changes in prices for silver and other metals, technological and operational hazards in Fortuna's mining and mine development activities, risks inherent in mineral exploration, uncertainties inherent in the estimation of mineral reserves, mineral resources, and metal recoveries, the timing and availability of financing, governmental and other approvals, political unrest or instability in countries where Fortuna is active, labor relations and other risk factors.

Although Fortuna has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

Assay Results for Principal Mineralized Intervals, Trinidad Ore Shoot Extension

Hole_Id From
(m)
To (m) Int
(m)
Est. True
Width
(m)
Ag (g/t) Au (g/t) Pb (ppm) Zn (ppm) Cu (ppm) Ag Eq (g/t)*
SJO-253 166.00 167.20 1.20 0.8 206 2.30 28 65 17 336
469.50 472.50 3.00 1.9 166 0.99 218 507 27 222
SJO-254 472.85 474.60 1.75 1.1 169 1.10 197 486 163 231
SJO-256 495.00 496.55 1.55 1.0 417 2.09 287 757 32 535
500.45 504.00 3.55 2.4 100 0.91 265 456 72 152
SJO-258 460.40 462.50 2.10 1.5 303 1.92 305 599 49 412
465.00 471.10 6.10 4.3 106 0.83 1910 3276 233 153
SJO-260 470.00 475.85 5.85 3.7 126 0.71 368 897 47 166
SJO-261 510.45 528.65 18.20 10.7 241 1.57 399 684 167 330
549.55 553.70 4.15 2.4 1370 7.89 6115 9136 448 1817
SJO-262 438.00 440.00 2.00 1.3 194 1.00 102 204 51 251
SJO-263 565.10 565.60 0.50 0.3 57 0.38 347 988 29 79
SJO-264 166.30 168.50 2.20 1.3 92 0.65 10 48 18 129
478.00 482.30 4.30 2.6 228 1.58 417 793 151 318
484.00 486.50 2.50 1.5 99 0.70 250 506 89 139
SJO-265 456.00 457.40 1.40 0.9 69 0.66 53 149 22 106
520.00 522.50 2.50 1.6 130 0.74 904 2002 66 172
SJO-266 469.80 489.00 19.20 12.3 427 2.77 410 813 78 584
494.00 497.80 3.80 2.4 532 3.44 1937 4098 259 727
513.50 516.30 2.80 1.8 867 4.36 1672 3835 124 1114**
SJO-267 528.00 529.50 1.50 1.1 101 0.77 67 170 34 145
592.00 593.23 1.23 0.9 102 0.98 372 1283 156 157
SJO-268 510.70 512.50 1.80 0.9 187 1.27 347 926 22 259
531.20 545.00 13.80 7.2 320 1.45 704 1410 145 402
557.30 563.00 5.70 3.0 58 0.85 725 999 190 106
SJO-270 485.40 485.60 0.20 0.1 344 2.31 337 713 38 475
*Ag Eq values calculated at Au:Ag ratio of 56.61 based on metal prices of US$1391.63/oz Au and US$25.14/oz Ag and metallurgical recoveries of 90 %
and 88 % respectively for Au and Ag
** Final interval in SJO-266 is within boundary of Taviche Oeste concession

SOURCE Fortuna Silver Mines Inc.

Source: PR Newswire (February 4, 2013 - 7:00 AM EST)

New Message

Please login to post a reply

AGORACOM Quick Tips

AGORACOM 100 - The Top 100 Small Caps ... Find Your Next Investment

President's D.D.

New feature: Hub Presidents can add important links here.