(Kitco News) – Fortuna Silver Mines (NYSE: FSM) (TSX: FVI) announced Wednesday that its Board has made a decision to proceed with the construction of an open pit mine at the Séguéla gold project in Côte d’Ivoire.
The company said it is ready to immediately commence construction with long lead items procured, and development teams established on the ground.
The Séguéla gold project in Côte d’Ivoire consists of the resource-defined, near-surface Antenna, Koula, Agouti, Boulder, and Ancien orogenic lode-style deposits.
A May 2021 Feasibility Study demonstrated that Séguéla is a robust project capable of potentially delivering over 100,000 ounces of gold per year over eight years.
President and CEO Jorge A. Ganoza commented, “With a nine year mine life in reserves, 130,000 ounces of annual gold production in the initial six years, and compelling economics, Séguéla is planned to become our fifth operating mine with first gold by mid-2023.”
The anticipated construction schedule is approximately 20 months, with ramp-up to name plate capacity expected in the third quarter of 2023, the company said.
Fortuna Silver Mines is a Canadian precious metals mining company with four operating mines in Argentina, Burkina Faso, Mexico and Peru, and an advanced development project in Côte d’Ivoire.