VANCOUVER, - Fortuna Silver Mines Inc. (Toronto:FVI.TO) (Toronto:FVI.TO) is pleased to announce production figures for the first quarter of 2011
from the Caylloma Mine located in Arequipa, Peru. Fortuna's production
guidance for 2011 is 2.4 million ounces of silver, 7,530 ounces of
gold, 25.2 million pounds of zinc, 16.6 million pounds of lead and
760,000 pounds of copper.
First Quarter Highlights
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Silver production of 437,123 ounces; 8.9% decrease over Q1 2010
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Lead production of 5,045,582 pounds; 14.8% decrease over Q1 2010
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Zinc production of 5,744,798 pounds; 16.4% decrease over Q1 2010
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Cash cost per silver ounce, net of by-product credits, estimate of
negative US$4.52
The drop in silver production for the quarter is explained by lower mill
throughput, related to power outages as a result of unusual winter
conditions, and to two percentage points lower than expected
metallurgical recoveries associated with sourcing approximately 20% of
production from mixed sulfide-oxide ore from level six of Animas vein.
Management does not anticipate climatic conditions to continue
affecting production into the second quarter.
Caylloma Mine Operating Highlights:
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Q1 - 2011
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Q4 - 2010
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Q1 - 2010
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Processed ore (t)
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104,937
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112,257
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101,503
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Average tonnes milled per day
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1,206
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1,261
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1,167
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Silver*
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Grade (g/t)
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157.56
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159.51
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167.23
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Recovery (%)
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82
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84
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88
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Production (oz)
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437,123
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481,802
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479,821
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Lead
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Grade (g/t)
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2.36
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2.37
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2.87
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Recovery (%)
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92
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91
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92
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Production (lbs)
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5,045,582
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5,337,762
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5,920,140
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Zinc
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Grade (g/t)
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2.87
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2.87
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3.44
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Recovery (%)
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87
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87
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89
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Production (lbs)
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5,744,798
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6,158,210
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6,868,811
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