Latest news with #FortunaMiningCorp
Hamilton Spectator
4 days ago
- Business
- Hamilton Spectator
Fortuna drills 8.6 g/t gold over 13.6 meters at Southern Arc prospect, Diamba Sud Project, Senegal
VANCOUVER, British Columbia, May 27, 2025 (GLOBE NEWSWIRE) — Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) is pleased to provide an update on its exploration programs at the Diamba Sud Gold Project in Senegal. Diamba Sud Gold Project exploration highlights Paul Weedon, Senior Vice President of Exploration, commented, 'Our exploration work at Diamba Sud continues to yield strong results, particularly from areas with limited historical drilling. Notably, recent drilling at the Southern Arc prospect has delivered some of our most compelling intercepts to date - highlighted by 8.6 g/t gold over an estimated true width of 13.6 meters in hole DSR906, and 9.3 g/t gold over 11.8 meters in hole DSDD404. These results further reinforce the project's potential for near-term resource growth.' Mr. Weedon concluded, 'Infill drilling at Area A, Area D, and Karakara has also returned highly encouraging results, including a standout intercept of 113.7 g/t gold over 6.4 meters estimated true width in hole DSDD385 at Area D. Meanwhile, regional target generation is progressing steadily, with systematic auger drilling identifying several promising gold-in-soil anomalies across the broader property.' Southern Arc Prospect Drilling highlights include: Exploration drilling at the Southern Arc prospect (Figure 1) successfully intersected multiple zones of mineralization. The program, comprising 38 reverse circulation (RC) and diamond core drill holes for a total of 4,210 meters, was designed to test and refine the geological model - focusing on lithological and structural interactions and their controls on mineralization. Mineralization at Southern Arc is hosted within an extensive hematite-altered tectonic breccia and occurs as stockworks or discrete veins - consistent with other prospects across the Diamba Sud Project. Figure 2 illustrates the relationship between the tectonic breccia, mineralization, and the overlying limestone units. Importantly, mineralization remains open at depth and along strike, with further drilling ongoing. Results from this program will be incorporated into the next Diamba Sud resource update. In addition, several nearby coincident geochemistry and geophysical anomalies further underscore the exploration potential of Southern Arc, including possible linkages to the adjacent Kassasoko deposit, located approximately one kilometre to the west. Figure 1: Diamba Sud Project location plan. Current deposits are highlighted in blue. Figure 2: Cross Section through Southern Arc prospect showing recent results. Oblique section line, view is looking north-east. Area A, Area D, and Karakara deposit infill drilling highlights include: An additional 33 drill holes for a total of 4,550 meters were completed at Area A, Area D, and Karakara (Figure 1), concluding a final round of infill drilling. This program was designed to achieve several key objectives: increasing resource confidence in targeted zones and confirming the geological controls on high-grade mineralization at depth. Notably, several drill holes intersected mineralization adjacent to - but outside - the currently proposed open pit boundaries, indicating potential for further resource growth. For example, hole DSDD399 at Area A returned 3.0 g/t gold over an estimated true width of 28.8 meters from a depth of 153 meters (Figure 3), while hole DSDD385 at Area D intersected 2.6 g/t gold over 40 meters estimated true width (Figure 4). These encouraging results will be incorporated into the forthcoming resource update for the Diamba Sud Project and underscore the potential for future resource expansion, particularly in Area A. Figure 3: Cross section through Area A deposit with results from DSDD399 - view looking east. Figure 4: Cross section through Area D deposit with results from DSDD385 - view looking east Moungoundi and Moungoundi North prospects Exploration drilling at the pre-resource stage Moungoundi prospect and its northern extension, Moungoundi North - located approximately 300 meters to the northeast - was successfully completed, with a total of 85 RC and diamond core drill holes drilled for 9,472 meters. The program significantly improved the understanding of this geologically and structurally complex area, characterized by intercalated tectonic breccias, carbonate metasediments, and granitic and dioritic intrusive units. Mineralization is typically associated with various vein arrays, preferentially hosted within the tectonic breccias. Results from this program will be incorporated into the next resource update for the Diamba Sud Project, contributing valuable insight into the broader mineral system. Western Splay deposit A total of 24 RC and diamond core drill holes, totalling 2,531 meters, were completed at the Western Splay deposit. The drill program was designed to test strike and dip extensions, perform select infill following the previous drilling campaign (refer to Fortuna news release dated: September 12, 2024 ), and the completion of the maiden resource estimate (refer to Fortuna news release dated: March 12, 2025 ). Geologically, Western Splay shares similarities with the adjacent Moungoundi prospect and comprises a series of tectonic breccias (previously classified as conglomerates), granitic and dioritic intrusive units, and metasediments. Mineralization is primarily associated with vein arrays preferentially hosted within the tectonic breccia units. This recent drilling campaign has strengthened confidence in the local geological interpretation and contributes to refining the broader geological and structural model at the project scale. Refer to Appendix 1 for full details of the drill holes and assay results for this drill program. Quality Assurance & Quality Control (QA - QC) All drilling data completed by the Company utilized the following procedures and methodologies. All drilling was carried out under the supervision of the Company's personnel. All reverse circulation (RC) drilling used a 5.25-inch face sampling pneumatic hammer with samples collected into 60-liter plastic bags. Samples were kept dry by maintaining enough air pressure to exclude groundwater inflow. If water ingress exceeded the air pressure, RC drilling was stopped, and drilling converted to diamond core tails. Once collected, RC samples were riffle split through a three-tier splitter to yield a 12.5 percent representative sample for submission to the analytical laboratory. The residual 87.5 percent samples were stored at the drill site until assay results were received and validated. Coarse reject samples for all mineralized samples corresponding to significant intervals are retained and stored on-site at the Company-controlled core yard. All diamond drilling (DD) drill holes started with HQ sized diameter, before reducing to NQ diameter diamond drill bits on intersecting fresh rock. The core was logged, marked up for sampling using standard lengths of one meter or to a geological boundary. Samples were then cut into equal halves using a diamond saw. One half of the core was left in the original core box and stored in a secure location at the Company core yard at the project site. The other half was sampled, catalogued, and placed into sealed bags and securely stored at the site until shipment. All RC and DD samples were transported to ALS's preparation laboratory in Kedougou, Senegal, before also being transported via commercial courier to ALS's facility in Ouagadougou, Burkina Faso. Routine gold analysis using a 50-gram charge and fire assay with an atomic absorption finish was completed for all samples. Quality control procedures included the systematic insertion of blanks, duplicates and sample standards into the sample stream. In addition, the ALS laboratory inserted its own quality control samples. Qualified Person Paul Weedon, Senior Vice President, Exploration for Fortuna Mining Corp., is a Qualified Person as defined by National Instrument 43-101 being a member of the Australian Institute of Geoscientists (Membership #6001). Mr. Weedon has reviewed and approved the scientific and technical information contained in this news release. Mr. Weedon has verified the data disclosed, including the sampling, analytical and test data underlying the information or opinions contained herein by reviewing geochemical and geological databases and reviewing diamond drill core. There were no limitations to the verification process. About Fortuna Mining Corp. Fortuna Mining Corp. is a Canadian precious metals mining company with three operating mines and exploration activities in Argentina, Côte d'Ivoire, Mexico and Peru, as well as the Diamba Sud Gold Project located in Senegal. Sustainability is integral to all our operations and relationships. We produce gold and silver and generate shared value over the long-term for our stakeholders through efficient production, environmental protection, and social responsibility. For more information, please visit . ON BEHALF OF THE BOARD Jorge A. Ganoza President, CEO, and Director Fortuna Mining Corp. Investor Relations: Carlos Baca | info@ | | X | LinkedIn | YouTube 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 (collectively, 'Forward-looking Statements'). All statements included herein, other than statements of historical fact, are Forward-looking Statements and are subject to a variety of known and unknown risks and uncertainties which could cause actual events or results to differ materially from those reflected in the Forward-looking Statements. The Forward-looking Statements in this news release include, without limitation, statements about the potential of the Diamba Sud Gold Project based on the exploration results at the Southern Arc, Moungoundi and Moungoundi North prospects, and from the Area A, Area D, Karakara and Western Splay deposits; statements relating to the potential to progress prospects at the Diamba Sud Gold Project; expectations that results from the drill programs will be able to be expand the current mineral resource at the Diamba Sud Gold Project and will be incorporated into a mineral resource update; statements regarding the exploration potential at the Southern Arc prospect including possible linkages to the Kassasoko deposit;mineral reserve and mineral resource estimates; expectations regarding additional drilling and exploration programs planned; the Company's business strategy, plans and outlook; the merit of the Company's mines and mineral properties; mineral resource and reserve estimates; timelines; the future financial or operating performance of the Company; expenditures; approvals and other matters. Often, but not always, these Forward-looking Statements can be identified by the use of words such as 'estimated', 'potential', 'open', 'future', 'assumed', 'projected', 'used', 'detailed', 'has been', 'gain', 'planned', 'reflecting', 'will', 'containing', 'remaining', 'to be', or statements that events, 'could' or 'should' occur or be achieved and similar expressions, including negative variations. Forward-looking Statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by the Forward-looking Statements. Such uncertainties and factors include, among others, changes in general economic conditions and financial markets; changes in prices for gold, silver, and other metals; the timing and success of the Company's proposed exploration programs; technological and operational hazards in Fortuna's mining and mine development activities; risks inherent in mineral exploration; fluctuations in prices for energy, labor, materials, supplies and services; fluctuations in currencies; uncertainties inherent in the estimation of mineral reserves, mineral resources, and metal recoveries; the Company's ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; governmental and other approvals; political unrest or instability in countries where Fortuna is active; labor relations issues; as well as those factors discussed under 'Risk Factors' in the Company's Annual Information Form for the financial year ended December 31, 2024. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward-looking Statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking Statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to expectations regarding the results from the exploration programs conducted at the Company's mineral properties including the Séguéla Mine; expected trends in mineral prices and currency exchange rates; the accuracy of the Company's information derived from its exploration programs at the Company's mineral properties; current mineral resource and reserve estimates; the presence and continuity of mineralization at the Company's properties; that the Company's activities will be in accordance with the Company's public statements and stated goals; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained; that there will be no significant disruptions affecting operations and such other assumptions as set out herein. Forward-looking Statements are made as of the date hereof and the Company disclaims any obligation to update any Forward-looking Statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that Forward-looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on Forward-looking Statements. Cautionary Note to United States Investors Concerning Estimates of Reserves and Resources Reserve and resource estimates included in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ('NI 43-101') and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for public disclosure by a Canadian company of scientific and technical information concerning mineral projects. Unless otherwise indicated, all mineral reserve and mineral resource estimates contained in the technical disclosure have been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards on Mineral Resources and Reserves. Canadian standards, including NI 43-101, differ significantly from the requirements of the Securities and Exchange Commission, and mineral reserve and resource information included in this news release may not be comparable to similar information disclosed by U.S. companies. Appendix 1 Notes: 1. EOH: End of hole 2. Depths and widths reported to nearest significant decimal place 3. NSI: No significant intercepts 4. ETW: Estimated true width 5. RC: reverse circulation drilling | DD: diamond drilling tail | RCD: reverse circulation drilling with diamond tail Photos accompanying this announcement are available at PDF available:
Hamilton Spectator
21-05-2025
- Business
- Hamilton Spectator
Fortuna publishes its 2024 Sustainability Report
VANCOUVER, British Columbia, May 21, 2025 (GLOBE NEWSWIRE) — Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) is pleased to announce the publication of its seventh annual Sustainability Report, highlighting key developments in 2024 related to governance, corporate strategy, risk management, and performance. The report also outlines Fortuna's commitments and progress on the environmental, social, and governance (ESG) factors most material to our business and stakeholders. Jorge A. Ganoza, President, and CEO, stated, 'Sustainability is not just a responsibility - it is a strategic imperative that underpins our success as an efficient business and a trusted partner to our investors and stakeholders in the countries where we operate, now and in the future. We take pride in our 2024 performance, while acknowledging that continuous improvement is essential in the areas that matter most.' Mr. Ganoza added, 'Our leadership team is fully committed to embedding sustainability—particularly the prioritization of health and safety—into every aspect of our decision-making, from daily operations to long-term strategic planning.' Julien Baudrand, Senior Vice President of Sustainability, commented, 'This report outlines Fortuna's progress in aligning with leading industry practices, including Critical Risk Management, the Global Industry Standard on Tailings Management (GISTM), and ISO 14001 and 45001 certifications. It also highlights our 2024 achievements, such as top-tier performance in health and safety, industry-leading greenhouse gas emissions intensity per ounce of gold produced, and no significant negative impacts on the environment or our host communities.' Mr. Baudrand concluded, 'Striving for sustainability excellence - by achieving zero harm, minimizing our environmental footprint, and meeting stakeholder expectations - strengthens our relationships with shareholders, lenders, local authorities, communities, and employees, while creating lasting value for Fortuna.' Key facts and figures from the 2024 Sustainability Report: Governance Workforce Health and Safety Community Relations Environment Human Capital, Human Rights, and Business Ethics The report also highlights the transformative projects that we are leading across our host countries in Latin America and West Africa, demonstrating how our initiatives create lasting social and environmental value that extends beyond financial performance. As part of our ongoing commitment to transparency and stakeholder engagement, we have introduced a new companion resource: the Sustainability Data Booklet. This document is aligned with the 2023 SASB Metals & Mining Standard, TCFD recommendations, and GRI Standards 2021, including the newly released GRI 14: Mining Sector Standard (2024). It is complemented by our Interactive Analyst Center , which offers downloadable, site-specific ESG data for enhanced accessibility and insight. Fortuna's 2024 Sustainability Report is available on our website: We welcome questions and feedback at: sustainability@ About Fortuna Mining Corp. Fortuna Mining Corp. is a Canadian precious metals mining company with three operating mines and exploration activities in Argentina, Côte d'Ivoire, Mexico, and Peru, as well as the Diamba Sud Gold Project located in Senegal. Sustainability is integral to all our operations and relationships. We produce gold and silver and generate shared value over the long-term for our stakeholders through efficient production, environmental protection, and social responsibility. For more information, please visit ON BEHALF OF THE BOARD Jorge A. Ganoza President, CEO, and Director Fortuna Mining Corp. Investor Relations: Carlos Baca | info@ | | X | LinkedIn | YouTube 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 (collectively, 'forward-looking statements'). All statements included herein, other than statements of historical fact, are forward-looking statements, including, without limitation, statements pertaining to the Company's sustainability plans, targets, strategies, and goals, such as working towards a zero harm workplace, implementing the Global Industry Standard for Tailings Management, and minimizing our environmental footprint. Often, but not always, these forward-looking statements can be identified by the use of words such as 'believe', 'expect', 'anticipate', 'contemplate', 'target', 'plan', 'goal', 'budget', 'aim', 'intent', 'estimate', 'may', 'should', 'could', 'future' and similar expressions, including negative variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by the forward-looking statements. Such risks, uncertainties, and factors include, among others, risks associated with climate change; risks associated with mining regime changes in the Company's operating jurisdictions, including those related to permitting and approvals, environmental and tailings management, labour, trade relations, and transportation, other factors including accidents, equipment breakdown, environmental risks; as well as those factors discussed under 'Description of the Business - Risk Factors' in the Company's Annual Information Form, a copy of which can be found on the Company's profile on the SEDAR+ website at . Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are based on the assumptions, beliefs, expectations, and opinions of management, including, but not limited to, continued availability of water and power resources at the Company's operations; financial and physical impacts of climate change and climate change initiatives on markets and the Company's operations; the availability and effectiveness of technologies needed to achieve the Company's sustainability goals and strategies; the accuracy of the Company's current mineral resource and reserve estimates; that the Company's activities will be in accordance with the Company's public statements and stated goals; and that there will be no material adverse change affecting the Company or its properties. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.
Yahoo
21-05-2025
- Business
- Yahoo
Fortuna publishes its 2024 Sustainability Report
VANCOUVER, British Columbia, May 21, 2025 (GLOBE NEWSWIRE) -- Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) is pleased to announce the publication of its seventh annual Sustainability Report, highlighting key developments in 2024 related to governance, corporate strategy, risk management, and performance. The report also outlines Fortuna's commitments and progress on the environmental, social, and governance (ESG) factors most material to our business and stakeholders. Jorge A. Ganoza, President, and CEO, stated, 'Sustainability is not just a responsibility - it is a strategic imperative that underpins our success as an efficient business and a trusted partner to our investors and stakeholders in the countries where we operate, now and in the future. We take pride in our 2024 performance, while acknowledging that continuous improvement is essential in the areas that matter most.' Mr. Ganoza added, 'Our leadership team is fully committed to embedding sustainability—particularly the prioritization of health and safety—into every aspect of our decision-making, from daily operations to long-term strategic planning.' Julien Baudrand, Senior Vice President of Sustainability, commented, 'This report outlines Fortuna's progress in aligning with leading industry practices, including Critical Risk Management, the Global Industry Standard on Tailings Management (GISTM), and ISO 14001 and 45001 certifications. It also highlights our 2024 achievements, such as top-tier performance in health and safety, industry-leading greenhouse gas emissions intensity per ounce of gold produced, and no significant negative impacts on the environment or our host communities.' Mr. Baudrand concluded, 'Striving for sustainability excellence - by achieving zero harm, minimizing our environmental footprint, and meeting stakeholder expectations - strengthens our relationships with shareholders, lenders, local authorities, communities, and employees, while creating lasting value for Fortuna.' Key facts and figures from the 2024 Sustainability Report: Governance 63 percent of our directors possess expertise in safety, sustainability, and ESG 30 percent of executive short-term incentive compensation is tied to ESG performance Enterprise Risk Management (ERM) incorporates sustainability-related factors Workforce Health and Safety Zero fatal incidents Lost Time Injury Frequency Rate (LTIFR): 0.48 Total Recordable Incident Frequency Rate (TRIFR): 1.36 93 percent of employees received training in Critical Risk Management (CRM) Community Relations Zero significant community grievances US$103 million contributed in government payments US$9.2 million allocated to community development programs and funds 41 percent of employees are from local communities Environment Zero significant environmental spills Zero non-compliances associated with water quality permits, standards, or regulations Carbon intensity: 0.38 tonnes of carbon dioxide equivalent emitted per gold equivalent ounce 14 percent of total energy consumption sourced from renewables Freshwater consumption intensity: 0.23 m3 per tonne of processed ore 58 percent of water is recycled or reused Human Capital, Human Rights, and Business Ethics Zero recorded cases of human rights violations Zero recorded incidents of corruption 5,099 full-time workers, including contractors 16 percent of the workforce are women The report also highlights the transformative projects that we are leading across our host countries in Latin America and West Africa, demonstrating how our initiatives create lasting social and environmental value that extends beyond financial performance. As part of our ongoing commitment to transparency and stakeholder engagement, we have introduced a new companion resource: the Sustainability Data Booklet. This document is aligned with the 2023 SASB Metals & Mining Standard, TCFD recommendations, and GRI Standards 2021, including the newly released GRI 14: Mining Sector Standard (2024). It is complemented by our Interactive Analyst Center, which offers downloadable, site-specific ESG data for enhanced accessibility and insight. Fortuna's 2024 Sustainability Report is available on our website: welcome questions and feedback at: sustainability@ About Fortuna Mining Corp. Fortuna Mining Corp. is a Canadian precious metals mining company with three operating mines and exploration activities in Argentina, Côte d'Ivoire, Mexico, and Peru, as well as the Diamba Sud Gold Project located in Senegal. Sustainability is integral to all our operations and relationships. We produce gold and silver and generate shared value over the long-term for our stakeholders through efficient production, environmental protection, and social responsibility. For more information, please visit ON BEHALF OF THE BOARD Jorge A. Ganoza President, CEO, and DirectorFortuna Mining Corp. Investor Relations: Carlos Baca | info@ | | X | LinkedIn | YouTubeThis 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 (collectively, 'forward-looking statements'). All statements included herein, other than statements of historical fact, are forward-looking statements, including, without limitation, statements pertaining to the Company's sustainability plans, targets, strategies, and goals, such as working towards a zero harm workplace, implementing the Global Industry Standard for Tailings Management, and minimizing our environmental footprint. Often, but not always, these forward-looking statements can be identified by the use of words such as 'believe', 'expect', 'anticipate', 'contemplate', 'target', 'plan', 'goal', 'budget', 'aim', 'intent', 'estimate', 'may', 'should', 'could', 'future' and similar expressions, including negative variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by the forward-looking statements. Such risks, uncertainties, and factors include, among others, risks associated with climate change; risks associated with mining regime changes in the Company's operating jurisdictions, including those related to permitting and approvals, environmental and tailings management, labour, trade relations, and transportation, other factors including accidents, equipment breakdown, environmental risks; as well as those factors discussed under 'Description of the Business - Risk Factors' in the Company's Annual Information Form, a copy of which can be found on the Company's profile on the SEDAR+ website at Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are based on the assumptions, beliefs, expectations, and opinions of management, including, but not limited to, continued availability of water and power resources at the Company's operations; financial and physical impacts of climate change and climate change initiatives on markets and the Company's operations; the availability and effectiveness of technologies needed to achieve the Company's sustainability goals and strategies; the accuracy of the Company's current mineral resource and reserve estimates; that the Company's activities will be in accordance with the Company's public statements and stated goals; and that there will be no material adverse change affecting the Company or its properties. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-04-2025
- Business
- Yahoo
Fortuna to release first quarter 2025 financial results on May 7, 2025; Conference call at 12 p.m. Eastern time on May 8, 2025
VANCOUVER, British Columbia, April 22, 2025 (GLOBE NEWSWIRE) -- Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) announces that it will release its financial statements and MD&A for the first quarter on Wednesday, May 7, 2025, after the market closes. A conference call to discuss the financial and operational results will be held on Thursday, May 8, 2025, at 9:00 a.m. Pacific time | 12:00 p.m. Eastern time. Hosting the call will be Jorge A. Ganoza, President and CEO, Luis D. Ganoza, Chief Financial Officer, Cesar Velasco, Chief Operating Officer - Latin America, and David Whittle, Chief Operating Officer - West Africa. Shareholders, analysts, media and interested investors are invited to listen to the live conference call by logging onto the webcast at: or over the phone by dialing in just prior to the starting time. Conference call details: Date: Thursday, May 8, 2025Time: 9:00 a.m. Pacific time | 12:00 p.m. Eastern time Dial in number (Toll Free): +1.888.506.0062Dial in number (International): +1.973.528.0011Access code: 794316 Replay number (Toll Free): +1.877.481.4010Replay number (International): +1.919.882.2331Replay passcode: 52367 Playback of the earnings call will be available until Thursday, May 22, 2025. Playback of the webcast will be available until Friday, May 8, 2026. In addition, a transcript of the call will be archived on the Company's website. About Fortuna Mining Corp. Fortuna Mining Corp. is a Canadian precious metals mining company with four operating mines and exploration activities in Argentina, Burkina Faso, Côte d'Ivoire, Mexico, and Peru, as well as the Diamba Sud Gold Project located in Senegal. Sustainability is integral to all our operations and relationships. We produce gold and silver and generate shared value over the long- term for our stakeholders through efficient production, environmental protection, and social responsibility. For more information, please visit our website. ON BEHALF OF THE BOARD Jorge A. Ganoza President, CEO, and DirectorFortuna Mining Corp. Investor Relations: Carlos Baca | info@ | | X | LinkedIn | YouTube PDF available: in to access your portfolio
Yahoo
10-04-2025
- Business
- Yahoo
Fortuna reports solid production of 103,459 gold equivalent ounces for the first quarter of 2025
VANCOUVER, British Columbia, April 10, 2025 (GLOBE NEWSWIRE) -- Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) reports production results for the first quarter of 2025 from its four operating mines in West Africa and Latin America. Q1 2025 highlights Gold production of 91,893 ounces; compared to 89,678 oz Au in Q1 20242 and 95,993 oz Au in Q4 20243 Gold equivalent production of 103,459 ounces1; compared to 112,543 Au Eq oz (GEOs) in Q1 20242 and 116,358 GEOs in Q4 20243 The Lindero leach pad expansion project was completed in Q1 and delivered to operations on time and within budget at a total cost of $51.8 million. The expansion provides sufficient capacity for an additional 10 years of production. Repurchased 916,900 common shares at an average price of $4.53 per share for a total of $4,155,539 Fortuna reiterates its 2025 annual production guidance range of 334,000 to 373,000 ounces of gold and 0.9 to 1.0 million ounces of silver or between 380,000 and 422,000 GEOs, including lead and zinc by-products (refer to Fortuna news release dated January 21, 2025). All amounts expressed in this news release are in US dollars unless otherwise stated. Q1 2025 Consolidated GEO production GEO Production Q1 2025 Q4 20244 2025 Annual Guidance3,5(000) Séguéla, Côte d'Ivoire 38,500 34,556 134 - 147 Yaramoko, Burkina Faso 33,073 27,177 107 - 121 Lindero, Argentina 20,320 23,262 93 - 105 San Jose, Mexico6 - 13,055 Caylloma, Peru 11,566 14,493 46 - 49 Total 103,459 112,543 380 - 422 Notes:1. GEO includes gold, silver, lead, and zinc and is calculated using the following metal prices: $2,885/oz Au, $31.77/oz Ag, $1,971/t Pb and $2,841/t Zn or Au:Ag = 1:90.82, Au:Pb = 1:1.46, Au:Zn = 1:1.022. Refer to Fortuna news release dated April 8, 2024, 'Fortuna reports strong gold equivalent production of 112,543 ounces in the first quarter of 2024'3. Refer to Fortuna news release dated January 21, 2025, 'Fortuna reports record production of 455,958 Au Eq ounces for 2024 and provides 2025 outlook.'4. GEO includes gold, silver, lead, and zinc and is calculated using the following metal prices: $2,087/oz Au, $23.43/oz Ag, $2,084/t Pb and $2,450/t Zn or Au:Ag = 1:89.08, Au:Pb = 1:1.00, Au:Zn = 1:0.855. GEO includes gold, silver, lead, and zinc and is calculated using the following metal prices: $2,500/oz Au, $30.0/oz Ag, $2,100/t Pb and $2,700/t Zn or Au:Ag = 1:83.30, Au:Pb = 1:1.19, Au:Zn = 1:0.936. The San Jose Mine was placed on care and maintenance on December 24, 2024 as the Company decided to enter a strategic process to divest of the non-core asset. Refer to news release dated March 12, 2025. West Africa Region Séguéla Mine, Côte d'Ivoire: Continued strong production Q1 2025 Q4 2024 Tonnes milled 444,004 430,117 Average tpd milled 4,933 4,727 Gold grade (g/t) 2.76 2.95 Gold recovery (%) 93.13 91.7 Gold production (oz)1 38,500 35,244 Note:1. Production includes doré only Mining Mine production totaled 477,333 tonnes of ore, averaging 2.53 g/t Au, containing an estimated 38,869 ounces of gold from the Antenna, Ancien, and Koula pits. Movement of waste during the quarter totaled 5,467,358 tonnes, for a strip ratio of 11.5:1. Mining continued to be focused on the Antenna, Koula, and Ancien Pits. Resource upgrade drilling continued successfully, as well as permitting and project study work at the Kingfisher, and the Sunbird underground deposits with the intention of integrating them into the life of mine plan later this year. Processing In the first quarter of 2025, Séguéla produced 38,500 ounces of gold at an average head grade of 2.76 g/t Au, a 9 percent increase and 6 percent decrease, respectively, compared to the fourth quarter in 2024. Recoveries increased compared to the previous quarter as operational performance improved following the rise in throughput achieved in previous quarters. Mill throughput averaged 216 t/hr for the quarter, 40 percent above name plate capacity. Yaramoko Mine, Burkina Faso: Maintaining targeted production Q1 2025 Q4 2024 Tonnes milled 134,692 102,105 Average tpd milled 1403 1,122 Gold grade (g/t) 7.81 9.18 Gold recovery (%) 97.43 98.16 Gold production1 (oz) 33,073 29,576 Note:1. Production includes doré only In the first quarter of 2025, 134,692 tonnes of ore were treated at an average head grade of 7.81 g/t Au, producing 33,073 ounces of gold. This represents a 15 percent decrease in grade, and a 12 percent increase in production, compared to the fourth quarter in 2024. Grades were lower due to planned changes in stope sequencing but were offset by higher tonnes milled due to increased production from underground mining activities. Mining commenced at the 109 Zone open pit with ore and waste movement exceeding planned quantities. A total of 143,771 tonnes were mined at an average grade of 7.06 g/t Au, of which 90,625 tonnes were mined averaging 8.67 g/t Au from 55 Zone, 21,695 tonnes averaging 8.99 g/t Au from QV Prime, and 31,452 tonnes of ore averaging 1.06 g/t Au from the 109 Zone open pit. Latin America Region Lindero Mine, Argentina: Leach pad expansion completed Q1 2025 Q4 2024 Ore placed on pad (t) 1,753,016 1,757,290 Gold grade (g/t) 0.55 0.60 Gold production1 (oz) 20,320 26,806 Note:1. Lindero production includes doré, gold-in-carbon, and gold in copper concentrate During the first quarter of 2025, 1.46 million tonnes of ore were mined, with a stripping ratio of 1.8:1 in line with the plan for the year. A total of 1.75 million tonnes of ore were placed on the leach pad averaging 0.55 g/t Au, containing an estimated 30,943 ounces of gold. Tonnes of ore placed on the leach pad was similar to the previous quarter. Lindero's gold production for the quarter was 20,320 ounces, comprised of 18,983 ounces in doré bars, 615 ounces contained in rich fine carbon, 39 ounces contained in copper precipitate, and 963 ounces contained in precipitated sludge. The 24 percent decrease in production compared to the previous quarter is explained by the 8 percent lower ore grade placed on the pad since December 2024 and timing in the leaching of gold from the pad. This is in line with the planned mining sequence and expected kinetics for the period. The leach pad expansion project was completed at the end of the first quarter, with minor close-out activities and demobilization now taking place. This expansion will serve the mine for the next decade. The 14.5 MWh photovoltaic plant project is approximately 76 percent complete, with earthworks and hydraulic works both finished. Installation of trackers, panels, and electric works are ongoing, and the project remains on schedule to be completed by the third quarter of 2025. Caylloma Mine, Peru: Continues to outperform Q1 2025 Q4 2024 Tonnes milled 136,659 139,761 Average tpd milled 1,553 1,553 Silver grade (g/t) 67 67 Silver recovery1 (%) 83.15 83.32 Silver production (oz) 242,993 249,238 Lead grade (%) 3.21 3.36 Lead recovery (%) 91.32 91.73 Lead production (lbs) 8,836,127 9,499,719 Zinc grade (%) 5.01 4.94 Zinc recovery (%) 91.32 91.14 Zinc production (lbs) 13,772,278 13,873,690 Note:1. Metallurgical recovery for silver is calculated based on silver content in lead concentrate In the first quarter of 2025, Caylloma produced 242,993 ounces of silver at an average head grade of 67 g/t Ag, achieving similar production to the previous quarter. Zinc and lead production was 13.8 and 8.8 million pounds, respectively, with average head grades of 5.01 % Zn and 3.21 % Pb, consistent production when compared to the preceding quarter, and is in line with the planned mining sequence for the period. Gold equivalent production for the first quarter totaled 11,566 ounces. Qualified Person Eric Chapman, Senior Vice President of Technical Services of Fortuna, is a Professional Geoscientist registered with Engineers and Geoscientists British Columbia (Registration Number 36328) and a Qualified Person as defined by National Instrument 43-101- Standards of Disclosure for Mineral Projects. Mr. Chapman has reviewed and approved the scientific and technical information contained in this news release and has verified the underlying data. About Fortuna Mining Corp. Fortuna Mining Corp. is a Canadian precious metals mining company with four operating mines and exploration activities in Argentina, Burkina Faso, Côte d'Ivoire, Mexico and Peru, as well as the Diamba Sud Gold Project located in Senegal. Sustainability is integral to all our operations and relationships. We produce gold and silver and generate shared value over the long-term for our stakeholders through efficient production, environmental protection, and social responsibility. For more information, please visit our website. ON BEHALF OF THE BOARD Jorge A. Ganoza President, CEO, and DirectorFortuna Mining Corp. Investor Relations:Carlos Baca | info@ | | X | LinkedIn | YouTube 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 (collectively, 'Forward-looking Statements'). All statements included herein, other than statements of historical fact, are Forward-looking Statements and are subject to a variety of known and unknown risks and uncertainties which could cause actual events or results to differ materially from those reflected in the Forward-looking Statements. The Forward-looking Statements in this news release may include, without limitation, statements about the Company's plans for its mines and mineral properties; changes in general economic conditions and financial markets; the impact of inflationary pressures on the Company's business and operations; statements reiterating the Company's 2025 annual production guidance and the likelihood of the Company meeting such annual production guidance; the Company's expectations regarding integrating the Kingfisher and Sunbird underground deposits into the Séguéla life of mine plan; the expected timing for the completion of the photovoltaic plant project at the Lindero Mine; statements that the leach pad expansion project will serve the Lindero Mine for the next decade; the Company's business strategy, plans and outlook; the merit of the Company's mines and mineral properties; the future financial or operating performance of the Company; the Company's ability to comply with contractual and permitting or other regulatory requirements; approvals and other matters. Often, but not always, these Forward-looking Statements can be identified by the use of words such as 'estimated', 'potential', 'open', 'future', 'assumed', 'projected', 'used', 'detailed', 'has been', 'gain', 'planned', 'reflecting', 'will', 'anticipated', 'estimated', 'containing', 'remaining', 'to be', or statements that events, 'could' or 'should' occur or be achieved and similar expressions, including negative variations. Forward-looking Statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by the Forward-looking Statements. Such uncertainties and factors include, among others, operational risks associated with mining and mineral processing; uncertainty relating to Mineral Resource and Mineral Reserve estimates; uncertainty relating to capital and operating costs, production schedules and economic returns; risks relating to the Company's ability to replace its Mineral Reserves; risks associated with mineral exploration and project development; uncertainty relating to the repatriation of funds as a result of currency controls; environmental matters including obtaining or renewing environmental permits and potential liability claims; uncertainty relating to nature and climate conditions; laws and regulations regarding the protection of the environment (including greenhouse gas emission reduction and other decarbonization requirements and the uncertainty surrounding the interpretation of omnibus Bill C-59 and the related amendments to the Competition Act (Canada) risks associated with political instability and changes to the regulations governing the Company's business operations; changes in national and local government legislation, taxation, controls, regulations and political or economic developments in countries in which the Company does or may carry on business; risks associated with war, hostilities or other conflicts, such as the Ukrainian – Russian conflict and the Israel – Hamas war, and the impacts such conflicts may have on global economic activity; risks relating to the termination of the Company's mining concessions in certain circumstances; developing and maintaining relationships with local communities and stakeholders; risks associated with losing control of public perception as a result of social media and other web-based applications; potential opposition to the Company's exploration, development and operational activities; risks related to the Company's ability to obtain adequate financing for planned exploration and development activities; property title matters; risks relating to the integration of businesses and assets acquired by the Company; impairments; risks associated with climate change legislation; reliance on key personnel; adequacy of insurance coverage; operational safety and security risks; legal proceedings and potential legal proceedings; uncertainties relating to general economic conditions; risks relating to a global pandemic, which could impact the Company's business, operations, financial condition and share price; competition; fluctuations in metal prices; risks associated with entering into commodity forward and option contracts for base metals production; fluctuations in currency exchange rates and interest rates; tax audits and reassessments; risks related to hedging; uncertainty relating to concentrate treatment charges and transportation costs; sufficiency of monies allotted by the Company for land reclamation; risks associated with dependence upon information technology systems, which are subject to disruption, damage, failure and risks with implementation and integration; risks associated with climate change legislation; labor relations issues; as well as those factors discussed under 'Risk Factors' in the Company's Annual Information Form. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward-looking Statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking Statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to the accuracy of the Company's current Mineral Resource and Mineral Reserve estimates; that the Company's activities will be conducted in accordance with the Company's public statements and stated goals; that there will be no material adverse change affecting the Company, its properties or its production estimates (which assume accuracy of projected head grade, mining rates, recovery timing, and recovery rate estimates and may be impacted by unscheduled maintenance, labor and contractor availability and other operating or technical difficulties); the duration and effect of global and local inflation; geo-political uncertainties on the Company's production, workforce, business, operations and financial condition; the expected trends in mineral prices, inflation and currency exchange rates; that all required approvals and permits will be obtained for the Company's business and operations on acceptable terms; that there will be no significant disruptions affecting the Company's operations and such other assumptions as set out herein. Forward-looking Statements are made as of the date hereof and the Company disclaims any obligation to update any Forward-looking Statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that these Forward-looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on Forward-looking Statements. Cautionary Note to United States Investors Concerning Estimates of Reserves and Resources Reserve and resource estimates included in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for public disclosure by a Canadian company of scientific and technical information concerning mineral projects. Unless otherwise indicated, all mineral reserve and mineral resource estimates contained in the technical disclosure have been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards on Mineral Resources and Reserves. Canadian standards, including NI 43-101, differ significantly from the requirements of the Securities and Exchange Commission, and mineral reserve and resource information included in this news release may not be comparable to similar information disclosed by U.S. companies. All dollar amounts in this news release are expressed in United States in to access your portfolio
