Fortuna Mining Corp provided updated Mineral Reserves and Resources estimates, showing overall increases
From GlobeNewswire: 2025-03-12 05:00:00
Fortuna Mining Corp. provides updated Mineral Reserve and Mineral Resource estimates for its mines in West Africa and the Americas, with Gold equivalent ounces calculated at $1,880/oz for Au, $23/oz for Ag, $2,000/t for Pb, and $2,700/t for Zn. Primary drivers for changes include infill drilling and production-related depletion, resulting in a net increase in Mineral Resources and a decrease in Mineral Reserves.
Highlights of the Mineral Reserve and Mineral Resource update include a 29% increase in Inferred Mineral Resources containing 2.2 M gold equivalent ounces (GEOs) and a 36% increase in Measured and Indicated Resources exclusive of Mineral Reserves containing 1.5 M GEOs. Consolidated Proven and Probable Mineral Reserves are reported to contain 2.7 M gold GEOs, representing an 11% decrease year-over-year due to production-related depletion and upgrades from resources.
The Séguéla Mine in Côte d’Ivoire successfully replenished mined reserves in 2024, with Mineral Reserve gold ounces remaining relatively unchanged and a gold grade increase of 11% to 3.38 g/t Au. Inferred Resources increased by 121%, mainly due to the addition of the Kingfisher deposit. Séguéla Mine has Proven and Probable Mineral Reserves of 9.8 Mt containing 1.1 Moz Au, along with Indicated and Inferred Resources.
Yaramoko Mine in Burkina Faso saw a 27% decrease in Mineral Reserve tonnes year-over-year but maintained a gold grade of 7.49 g/t Au. Proven and Probable Mineral Reserves stand at 0.6 Mt containing 151,000 oz Au, with Measured and Indicated Resources of 0.3 Mt containing 42,000 oz Au, and Inferred Resources of 0.1 Mt containing 26,000 oz Au. The changes were due to depletion through mining and successful replenishment programs.
Lindero Mine in Argentina experienced minimal changes to Mineral Reserves despite year-over-year mining depletion, with Proven and Probable Mineral Reserves of 69.2 Mt containing 1.2 Moz Au. Measured and Indicated Resources remained unchanged, with Inferred Resources increasing by 20%. The Arizaro Gold Project in Argentina reported a 34% increase in Inferred Mineral Resources compared to last year.
The Caylloma Mine in Peru reported a 7% increase in Mineral Reserve tonnes, with Proven and Probable Reserves containing 307,000 GEOs. Inferred Resources decreased by 16% due to an increase in cut-off values used for reporting, with silver grades increasing by 7%. The San Jose Mine in Mexico increased Measured and Indicated Resource GEOs by 17%, with Inferred Resources GEOs increasing by 12%, despite being placed on care and maintenance in December 2024.
The Diamba Sud Gold Project in Senegal contains an Indicated Resource of 7.8 Mt at an average gold grade of 1.90 g/t containing 473,000 oz Au and an Inferred Resource of 3.1 Mt at 1.47 g/t containing 148,000 oz Au. The estimate is based on extensive drilling from October 2023 to July 2024, with plans for further exploration in 2025.
Read more at GlobeNewswire: Fortuna reports updated Mineral Reserves and Mineral