Thursday, January 15, 2009

Fortuna Silver Mines FVI.v, Continuum Resourvces CNU.v update. GDX, SLV, HUI, XAU, CDNX.

Continuum Resources CNU.v is back from near death experience at 0.05CAD and hopefully acquisition by Fortuna Silver FVI.v will be done soon. Excellent grades and recovery from San Jose.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 15, 2009) - Fortuna Silver Mines Inc. (TSX VENTURE:FVI - News; BVLAC:FVI) is pleased to report positive metallurgical test results for the San Jose silver-gold project located in Oaxaca, Mexico. A program of comprehensive metallurgical testing conducted by Metcon Research, of Tucson Arizona, has been in progress since October 2008. Main open flotation circuit or batch flotation tests have been concluded on multiple samples for two types of sulfides mineralization in the Trinidad area, which hosts the San Jose resource. Highlights of the open circuit test results include:
- Open circuit flotation tests using water from a potential water source for the project returned recoveries of 88% for both silver and gold.
- Open circuit flotation tests produced high grade commercial concentrates with 99 g/t gold and 12,306 g/t silver.
- Regrind of rougher concentrate increases concentrate grades to 135 g/t gold and 17,130 g/t silver.
- The above mentioned results were obtained with a standard grind size of 80% passing 74 microns. Additional tests are being carried out at coarser grind sizes of 105 and 149 microns.
- It is estimated that closed circuit flotation tests will improve metal recovery. Final results are scheduled for mid February.
Mr. Jorge Ganoza, CEO of the Company, commented, "We are extremely pleased with metallurgical results to date. It is clear that we can produce a high grade silver-gold concentrate for sale using standard grind and flotation processes and technology. We plan to have a final flow sheet design along with equipment selection by the end of first quarter."
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