Such uncertainties and factors include, among others, the worldwide economic and social impact of COVID-19, the duration and extent of COVID-19, changes in general economic conditions and financial markets; the re-imposition of government restrictions on business related to COVID-19; any positive cases of COVID-19 at the Project site or in the area which may cause a reduction or suspension in operations and activities and which may ultimately affect and delay the modified construction and production timeline; changes in prices for silver and other metals; the amount of contained ounces of gold from ore placed on the leach pad; the timing of commercial production; technological and operational hazards in Fortuna’s mining and mine development activities; risks inherent in mineral exploration; uncertainties inherent in the estimation of mineral reserves, mineral resources, and metal recoveries; changes to current estimates of mineral reserves and resources; changes to production estimates; governmental and other approvals; changes in government, 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.
Lindero has been designed as an 18,750 tonnes per day owner operated open pit mine with a pit life of 13 years based on current Mineral Reserves. Silver and gold production for the first nine months of 2020 totaled 4.5 million ounces of silver and 27,710 ounces of gold. Accordingly, investors should not place undue reliance on Forward-looking Statements. In September 2017, the commencement of construction at Lindero was officially launched (refer to Fortuna news releases dated September 21, 2017 and December 21, 2017).
CLICK HERE TO TURN ON NOTIFICATIONS. The QA-QC program includes the blind insertion of certified reference standards and assay blanks at a frequency of approximately 1 per 20 normal samples as well as the submission of duplicate samples for verification of sampling and assay precision levels by an ISO 9001:2000 certified umpire laboratory. The earthquake occurred … 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. Fortuna has filed on www.sedar.com a report in accordance with NI 62-103, and a copy of the report may be obtained by contacting Sally Whittall, Fortuna’s Corporate Secretary, at +1.604.484.4085. At the beginning of the second quarter of 2020, the Company withdrew its production and cost guidance for 2020 until further notice, due to the uncertainties related to the impact caused by COVID-19 constraints on the Company’s business and operations (refer to Fortuna news release dated April 2, 2020). 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. We invite you to follow Lindero’s progress by viewing the Lindero Mine’s photo gallery on our website. Notes:1. Made In NYC | The Company is advancing Lindero’s ramp up phase as per the plan outlined in Fortuna news release dated May 8, 2020. “The real goal was to replace the old, rundown billboard with something bright and fresh that will grab attention from the highway,” said Noah Collins. Gold production for the first nine months of 2020 totaled 2,282 ounces. We produce silver and gold and generate shared value over the long-term for our shareholders and stakeholders through efficient production, environmental protection and social responsibility. Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations; however, the SEC's disclosure standards currently in effect under Industry Guide 7 normally only permit issuers to report mineralization that does not constitute "reserves" by such standards as in-place tonnage and grade without reference to unit measures. Accordingly, information concerning mineral deposits set forth in this news release may not be comparable with information made public by companies that report in accordance with U.S. standards. The Company produced 2.1 million ounces of silver and 12,791 ounces of gold, plus base metal by-products. The lower average head grade is due to COVID-19 related restrictions which delayed the start of mining activities and limited the access to high-grade ore from the pit and resulted in the shortfall being sourced from the medium grade stockpile. Under Canadian rules, estimated "inferred mineral resources" may not form the basis of feasibility or pre-feasibility studies except in rare cases. Fortuna has filed on www.sedar.com a report in accordance with NI 62-103, and a copy of the report may be obtained by contacting Sally Whittall, Fortuna’s Corporate Secretary, at +1.604.484.4085. © 2020 Insider Inc. and finanzen.net GmbH (Imprint). Lead and zinc production was 6,702,053 pounds and 10,313,225 pounds with average head grades for lead and zinc of 3.15% and 4.93%, respectively.
Forward-looking Statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to the management of the worldwide economic and social impact of COVID-19, that the duration and extent of COVID-19 is minimized and not long-term, the expected trends in mineral prices and currency exchange rates; 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; 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 construction, activities and operations at Lindero, there will be no changes in laws or regulations which may affect 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. The table below details material movements from the pit as estimated from the grade control model versus the Mineral Reserve block model for the third quarter of 2020. 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. You should also understand that "inferred mineral resources" have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. The Fortuna Veterans building was built in the early 1930s and is owned by Humboldt County. For more information, please visit our website at www.fortunasilver.com. Mr. Sinuhaji has reviewed and approved the scientific and technical information contained in this news release and has verified the underlying data. Lead and zinc production was impacted in the quarter by a voluntary suspension of operations in July 2020 to disinfect and sanitize the mine site (refer to Fortuna news release dated July 28, 2020) and was partially offset by higher grades encountered in production stopes. 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. Management considers the result to be very encouraging when considering the variation in data density between the models.
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