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Fortuna Silver Mines Inc.

Publié le 07 janvier 2009

in-fill drilling results continue to confirm high-grade mineralization at San Jose Project, Mexico

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Mots clés associés :   Canada | Fortuna | G Mexico | K Street |
Suite 840 - 355 Burrard Str.
Vancouver, BC Canada, V6C 2G8
Piso 17 Av. Pardo Y Aliaga 640
San Isidro, Lima - Peru
Lima Exchange: FVI
Tel: 604.484.4085
Fax: 604.484.4029
Tel: 511.616.6060
San Isidro, Lima - Peru
Fortuna's in-fill drilling results continue to confirm high-grade mineralization at San Jose Project, Mexico

January 7, 2009: Fortuna Silver Mines Inc. (TSX-V: FVI / Lima Exchange: FVI) is pleased to announce additional results from the in-fill drill program on the Trinidad Zone of the San Jose silver-gold deposit located in Oaxaca, Mexico. Highlights from the 33 new holes include:

SJO-166 17.5 meters assaying 2.8 g/t Au and 285 g/t Ag
SJO-175 6.6 meters averaging 11.1 g/t Au and 534 g/t Ag
SJO-187 5.2 meters averaging 6.8 g/t Au and 628 g/t Ag
and 21.4 meters averaging 6.0 g/t Au and 453 g/t Ag
SJO-193 30.6 meters averaging 1.3 g/t Au and 113 g/t Ag
and 12.7 meters averaging 6.0 g/t Au and 973 g/t Ag
SJO-194 16.1 meters averaging 2.7 g/t Au and 316 g/t Ag
SJO-205 16.6 meters averaging 2.4 g/t Au and 303 g/t Ag

The 33,000 meter in-fill drill program was initiated in June of 2008 and is designed to convert a significant portion of the resources in the upper 250 meters of the deposit to the Indicated category. Initial drill results from the program have been previously announced in September, October and November of 2008 (see Fortuna news releases dated September 25, 2008, October 28, 2008 and November 27, 2008). The in-fill drill program is projected to be completed by mid-January 2009 and has been designed following recommendations by AMEC E&C Services Inc. indicating that a drill spacing of 31 meters will be required for classification of the resources to the Indicated category.

The San Jose Project is being explored and developed under a joint venture between Fortuna (76%) and Continuum Resources Ltd (24%). In August 2008, Fortuna and Continuum announced an agreement whereby Fortuna will acquire all of the issued and outstanding securities of Continuum (see Fortuna's news release dated August 14, 2008). As a result of the acquisition, Fortuna will own a 100% interest in the San Jose Project.

Assay results from the 33 drill holes in the Trinidad Zone are summarized below. Length-weighted assay averages have been calculated for the mineralized intervals using a lower cut-off of 100 g/t Ag-equivalent. Updated longitudinal sections showing the location of the drill hole intercepts for each of the major veins and an updated drill hole location map are available on Fortuna's website at the following links: Bonanza Vein Longitudinal Section, Trinidad Vein Longitudinal Section, Trinidad Drill Hole Location Map.

Hole_Id From
Est. True
Thickness (m)
Ag Eq
SJO-166 210.15 213.75 3.60 2.5 8.11 548 961
And 229.15 246.60 17.45 12.2 2.78 285 427
And 282.75 297.10 14.35 9.0 1.88 284 380
SJO-172 264.20 271.65 7.45 6.1 4.35 264 486
And 297.90 304.50 6.60   1.92 303 401
And 307.45 314.75 7.30 5.4 1.93 447 545
SJO-175 138.70 145.25 6.55 4.9 11.06 534 1098
SJO-187 184.90 190.10 5.20 3.7 6.82 628 976
And 204.15 225.55 21.40 15.5 5.96 453 758
SJO-188 181.60 191.75 10.15 8.3 0.67 94 129
SJO-189 201.50 203.40 1.90 1.3 2.34 525 644
SJO-190 195.20 202.15 6.95 5.9 0.99 87 137
And 205.55 207.45 1.90   3.63 336 521
And 267.05 272.60 5.55 4.2 1.61 316 399
SJO-191 260.80 264.60 3.80 2.6 2.73 386 525
And 350.30 354.90 4.60 3.5 1.06 137 191
SJO-193 242.45 273.00 30.55 23.0 1.34 113 181
And 284.80 294.75 9.95   1.34 135 204
And 314.70 327.40 12.70 8.0 5.99 973 1279
SJO-194 290.25 306.35 16.10 12.0 2.74 316 456
SJO-195 183.85 188.10 4.25 3.8 2.05 99 204
SJO-196 191.65 193.10 1.45 1.1 1.00 84 135
SJO-197 216.40 218.40 2.00 1.5 0.92 68 115
SJO-198 142.45 143.15 0.70 0.5 0.89 194 239
And 174.55 176.70 2.15 1.5 0.43 115 137
SJO-199 203.35 207.90 4.55 2.9 1.51 191 267
SJO-200 335.70 338.20 2.50 1.8 0.53 88 116
SJO-201 191.05 196.95 5.90 4.1 4.25 719 935
And 213.10 237.20 24.10 17.0 0.68 140 174
SJO-202 295.95 311.35 15.40 11.6 1.91 173 270
And 339.75 341.85 2.10   1.22 326 388
And 344.25 349.35 5.10 3.2 4.54 714 946
SJO-203 179.20 194.55 15.35 11.6 0.96 228 277
SJO-204 166.65 167.50 0.85 0.6 0.54 97 125
SJO-205 235.90 252.50 16.60 11.3 2.36 303 424
And 254.10 260.70 6.60 5.0 0.76 201 240
SJO-206 225.65 226.90 1.25 0.7 4.07 960 1168
SJO-207 193.05 196.40 3.35 2.3 3.93 451 651
And 199.90 203.15 3.25   2.60 403 536
And 228.40 238.00 9.60 7.2 2.00 403 505
SJO-208 238.20 245.95 7.75 5.6 1.09 191 247
And 250.05 260.05 10.00 7.8 0.82 151 193
SJO-209 304.95 306.50 1.55 1.0 0.94 137 185
SJO-210 291.90 299.70 7.80 5.8 2.81 442 585
SJO-211 210.75 212.50 1.75 1.2 1.40 142 213
And 218.40 219.40 1.00 0.7 0.81 184 225
SJO-212 254.20 258.40 4.20 2.8 1.31 210 277
And 266.40 268.40 2.00 1.5 0.39 112 132
SJO-213 349.70 350.90 1.20 0.9 2.18 512 623
SJO-214 349.05 354.50 5.45 3.6 2.36 419 539
SJO-215 244.25 247.25 3.00 2.1 1.95 385 485
SJO-216 218.75 220.15 1.40   2.35 461 581
And 231.10 232.75 1.65 1.1 5.05 1015 1273
And 240.35 244.10 3.75 2.6 0.59 126 156
SJO-218 342.50 343.70 1.20 0.8 3.02 612 766
*Silver equivalency estimates were derived using a silver-to-gold ratio of 51:1. Metallurgical recoveries and net smelter returns are assumed to be 100% for purposes of estimating silver equivalency.


The San Jose deposit is a low sulfidation epithermal system located within the Taviche Mining District in southern Oaxaca and is characterized by mineralized multiphase quartz-carbonate-sulfide veins, hydrothermal breccias and stockwork veining within a sequence of Tertiary andesitic volcanic and volcaniclastic rocks. The Fortuna-Continuum joint venture controls mining concessions covering approximately 56,000 hectares in the Taviche Mining District. Exploration is being carried out on a number of target areas within the concession area to define new drill targets. Underground development of the access ramp to the Trinidad Zone was initiated in the 4th quarter of 2007. The Company is advancing with engineering studies for the development of the San Jose deposit including preliminary mine design work, metallurgical testing, tailings dam design work and hydrological investigations. An Environmental Impact Study is in-progress and the Community Relations Department is engaging local communities through project presentations, site visits and sustainable development and education programs.

Quality Assurance & Quality Control

Following detailed geological and geotechnical logging, drill core samples are split on-site by diamond saw. One half of the core is submitted to the ALS Chemex sample preparation facility in Guadalajara, Mexico. The remaining half core is retained on-site for verification and reference purposes. Following preparation, sample pulps are sent to ALS Chemex in Vancouver where they are assayed for gold and silver by standard fire assay methods using a gravimetric finish. Multi-element analyses are also completed for each sample by ICP methods. The QA-QC program at San Jose includes the blind insertion of certified reference standards for silver and gold at a frequency of approximately 1 per 15 normal samples and the insertion of assay blanks at a frequency of approximately 1 per 15 normal samples. All sample results reported in this news release correspond to HQ- or NQ-diameter core.

Qualified Person

Mr. Miroslav Kalinaj, P. Geo., is the Company's Qualified Person as defined by National Instrument 43 101 and is responsible for the accuracy of the technical information in this news release.

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 Project in Mexico. The Company is selectively pursuing additional acquisition opportunities. For more information, please visit our website at www.fortunasilver.com.

The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release.


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

Symbol: TSX-V: FVI / Lima Exchange: FVI

Investor Relations:
Lima office: Carlos Baca - Tel: 51.1.616.6060
Vancouver office: Erin Ostrom - Tel: 604.484.4085

View News Release in PDF Format:
171 KB in size, approx. 33 seconds to download at 56.6Kbps
Corporate Office
Suite 830-355 Burrard Street
Vancouver, BC
Canada V6C 2G8
Tel: 604-484-4085
Fax: 604-484-4029

Share Transfer Agent
Pacific Corporate Trust
510 Burrard Street, 2nd floor
Vancouver, BC
Canada, V6C 3B9
Données et statistiques pour les pays mentionnés : Canada | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous

Fortuna Silver Mines Inc.

ISIN : CA3499151080
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Fortuna Silver est une société de production minière d'argent basée au Canada.

Fortuna Silver est productrice d'argent, de cuivre, d'or, de plomb et de zinc au Mexique et au Perou.

Ses principaux projets en production sont CAYLLOMA au Perou et SAN JOSE PROJECT au Mexique et ses principaux projets en exploration sont MARIO PERU au Perou et TLACOLULA au Mexique.

Fortuna Silver est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 603,6 millions CA$ (482,6 millions US$, 422,8 millions €).

La valeur de son action a atteint son plus bas niveau récent le 15 septembre 2000 à 0,14 CA$, et son plus haut niveau récent le 04 novembre 2016 à 9,99 CA$.

Fortuna Silver possède 158 850 000 actions en circulation.

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d Share Capital and Voting Rights for Lundin Mining
9,41 CA$-3,59%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
0,22 CA$+0,00%Trend Power :
Q A April 2017 Quarterly Report
0,24 AU$-2,04%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
6,80 US$-2,86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
1,44 CA$-4,64%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
46,69 US$-0,13%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
8,66 CA$-0,35%Trend Power :
2nd Quarter Report
0,02 AU$+0,00%Trend Power :