- TSX: FVI CA 5.65
- NYSE: FSM US 4.50
Silver, gold
100%
71,000 hectares
3,000 tpd underground operation
High-grade, low sulphidation epithermal vein deposit
Overhand cut-and-fill
2016 production: 6.1 million ounces of silver and 46,018 ounces of gold
The San Jose mine was commissioned in July 2011 and began commercial production in September 2011 at a rate of 1,000 tpd. In September of 2013, the mill was expanded from 1,150 tpd to 1,800 tpd and in April 2014, the mill was further expanded to 2,000 tpd without incurring in additional capital investments. Expansion of the mill from 2,000 tpd to 3,000 tpd was initiated in the first quarter of 2015 and successfully commissioned on time and under budget in July 2016.
San Jose is located in the Taviche Mining District (Latitude 16° 41’ 40” N, Longitude: 96° 42’ 00” W) in the southern portion of the state of Oaxaca, approximately 47 road kilometers (one hour drive) south of the city of Oaxaca. Access to the property is excellent and local infrastructure is good.
The San Jose deposit is a low sulfidation epithermal vein system characterized by mineralized multiphase quartz-carbonate-sulfide veins, hydrothermal breccias and stockwork veining. The mineralized system is hosted within a sequence of Tertiary andesitic volcanic and volcaniclastic rocks.
Silver Production
(Moz)
Gold Production
(koz)
Cash Cost
(US$/t)
AISC
(US$/oz Ag)
Notes:
Brownfields exploration program budget for 2017 at the San Jose Mine is $7.0 million, which includes 31,000 meters of diamond drilling and 600 meters of underground development for drilling to define future resources. Exploration drilling is in progress at the Trinidad Central zone and on the sub-parallel Ocotlan vein in the San Jose Mine.
| Hole ID | From (m) | To (m) | Interval (m) | ETW¹ (m) | Ag (g/t) | Au (g/t) | Ag Eq² (g/t) |
|---|---|---|---|---|---|---|---|
| SJOM-335 | 419.00 | 425.30 | 6.30 | 3.7 | 3,511 | 15.04 | 4,413 |
| SJOM-337 | 314.90 | 324.35 | 9.45 | 6.5 | 498 | 3.03 | 680 |
| SJOM-340 | 265.70 | 273.00 | 7.30 | 4.2 | 2,762 | 14.46 | 3,630 |
| SJOM-343 | 272.00 | 286.95 | 14.95 | 10.2 | 1,190 | 8.45 | 1,697 |
| SJOM-345 | 397.65 | 416.60 | 18.95 | 10.3 | 305 | 2.44 | 452 |
| SJOM-346 | 293.50 | 303.50 | 10.00 | 6.5 | 1,503 | 7.76 | 1,969 |
| 340.50 | 368.00 | 27.50 | 18.8 | 600 | 4.20 | 852 | |
| SJOM-349A | 320.00 | 330.20 | 10.20 | 4.5 | 929 | 4.87 | 1,221 |
| 367.00 | 375.45 | 8.45 | 4.1 | 1,808 | 13.21 | 2,601 | |
| SJOM-359 | 389.25 | 395.30 | 6.05 | 3.4 | 887 | 4.04 | 1,129 |
| SJOM-364 | 462.05 | 467.30 | 5.25 | 3.0 | 2,573 | 10.77 | 3,219 |
| SJOM-369 | 355.30 | 361.00 | 5.70 | 3.3 | 1,029 | 5.94 | 1,385 |
| SJOM-378 | 391.15 | 398.30 | 7.15 | 4.9 | 467 | 1.93 | 583 |
| SJOM-386 | 321.45 | 348.50 | 27.05 | 13.0 | 399 | 2.15 | 528 |
| SJOM-390 | 413.85 | 421.90 | 8.05 | 4.0 | 636 | 2.93 | 812 |
| SJOM-395 | 414.70 | 420.95 | 6.25 | 3.3 | 854 | 4.97 | 1,152 |
| SJOM-401 including | 339.95 | 374.90 | 34.95 | 18.0 | 426 | 2.62 | 583 |
| 343.05 | 352.00 | 8.95 | 4.6 | 1,282 | 8.11 | 1,768 |
Notes:
| Property | Classification | Tonnes (000) | Ag (g/t) | Au (g/t) | Contained Metal | |
|---|---|---|---|---|---|---|
| Ag (Moz) | Au (koz) | |||||
| San Jose Mine, Mexico | Proven | 64 | 186 | 1.51 | 0.4 | 3.1 |
| Probable | 4,957 | 250 | 1.73 | 39.8 | 275.3 | |
| Proven + Probable | 5,021 | 249 | 1.72 | 40.2 | 278.4 | |
| Property | Classification | Tonnes (000) | Ag (g/t) | Au (g/t) | Contained Metal | |
|---|---|---|---|---|---|---|
| Ag (Moz) | Au (koz) | |||||
| San Jose Mine, Mexico | Measured | 112 | 83 | 0.65 | 0.3 | 2.3 |
| Indicated | 734 | 77 | 0.61 | 1.8 | 14.4 | |
| Measured + Indicated | 846 | 78 | 0.61 | 2.1 | 16.7 | |
| Property | Classification | Tonnes (000) | Ag (g/t) | Au (g/t) | Contained Metal | |
|---|---|---|---|---|---|---|
| Ag (Moz) | Au (koz) | |||||
| San Jose Mine, Mexico | Inferred | 3,101 | 252 | 1.66 | 25.1 | 165.4 |
Notes:
