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  • Lindero Mine, Argentina

    First gold pour in October 2020

OPERATING HIGHLIGHTS

 

20201

2021E2

Ore placed on pad (Mt)

1.6

6.7

Gold production (koz)

13.4

90 - 110

AISC3,4 (US$/oz Au)

-

$1,010 - $1,190

Notes

Commodity
Gold
Ownership
100%
Operation
18,750
tonnes per day
Claim block area
3,500
hectares
Deposit type
Gold porphyry
system
Mining method
Open pit

Mineral Reserves and Resources

  Contained Metal
Property Classification Tonnes
(000)
Au
(g/t)
Cu
(%)
 
Au
(koz)
Mineral Reserves - Proven and Probable
Lindero Mine, Argentina Proven 26,718 0.72 0.11  
622
  Probable 55,940 0.57 0.11  
1,027
  Proven + Probable 82,660 0.62 0.11  
1,649
Mineral Resources - Measured and Indicated
Lindero Mine, Argentina Measured 2,520 0.55 0.13  
45
  Indicated 33,070 0.46 0.10  
487
  Measured + Indicated 35,590 0.46 0.11  
532
Mineral Resources - Inferred
Lindero Mine, Argentina Inferred 30,368 0.42 0.11  
412
  • Notes:
    • Mineral Reserves and Mineral Resources are as defined by the 2014 CIM Definition Standards for Mineral Resources and Mineral Reserves
    • Mineral Resources are exclusive of Mineral Reserves
    • Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability
    • Factors that could materially affect the reported Mineral Resources or Mineral Reserves include; changes in metal price and exchange rate assumptions; changes in local interpretations of mineralization; changes to assumed metallurgical recoveries, mining dilution and recovery; and assumptions as to the continued ability to access the site, retain mineral and surface rights titles, maintain environmental and other regulatory permits, and maintain the social license to operate
    • Lindero Mineral Resources and Reserves are estimated as of June 30, 2020 and reported as of December 31, 2020 taking into account production-related depletion for the period through December 31, 2020
    • Mineral Reserves for the Lindero Mine are reported based on open pit mining within a designed pit shell based on variable gold cut-off grades and gold recoveries by metallurgical type. Met type 1 cut-off 0.27 g/t Au, recovery 75.4%; Met type 2 cut-off 0.26 g/t Au, recovery 78.2%; Met type 3 cut-off 0.26 g/t Au, recovery 78.5%; and Met type 4 cut-off 0.27 g/t Au, recovery 68.5%. Mining recovery is estimated to average 100% and mining dilution 0% having been accounted for during block regularization to 10m x 10m x 8m size. The cut-off grades and pit designs are considered appropriate for long term gold prices of US$1,600/oz, estimated mining costs of US$1.11 per tonne of material, total processing and process G&A costs of US$6.21 per tonne of ore, and refinery costs net of pay factor of US$6.50 per ounce gold. Lindero Mineral Reserves are restricted to a maximum heap leach capacity of 84.2 Mt. Reported Proven Reserves include 2.6 Mt averaging 0.55 g/t Au of stockpiled material. Lindero Mineral Resources are reported within the same conceptual pit shell above a 0.2 g/t Au cut-off grade based on the same parameters used for Mineral Reserves and a 15% upside in metal prices.
    • Eric Chapman, P. Geo. (APEGBC #36328) is the Qualified Person for resources and Amri Sinuhaji (APEGBC #48305) is the Qualified Person for reserves, both being employees of Fortuna Silver Mines Inc.
    • Totals may not add due to rounding procedures

       

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