EXHIBIT 99.28
MATERIAL CHANGE REPORT
FORM 51-102F3
National Instrument 51-102
This is a Material Change Report Under Section 7.1 of National Instrument 51-102.
ITEM 1: NAME AND ADDRESS OF COMPANY
Fortuna Silver Mines Inc.
355 Burrard Street, Suite 840
Vancouver, BC V6C 2G8
ITEM 2: DATE OF MATERIAL CHANGE
April 12, 2010
ITEM 3: NEWS RELEASE
April 12, 2010, via CNW.
ITEM 4: SUMMARY OF MATERIAL CHANGE
The Company reports its production figures for first quarter 2010.
ITEM 5: FULL DESCRIPTION OF MATERIAL CHANGE
First Quarter Highlights
· | Record silver production of 479,821 ounces; 30% increase over Q1 2009 |
· | Zinc production of 6,868,811 pounds; 1% decrease over Q1 2009 |
· | Lead production of 5,920,140 pounds; 1.5% increase over Q1 2009 |
· | Copper production of 295,854 pounds; 213% increase over Q4 2009 |
Q1 2010 record silver production is due to to improved grades in production stopes with respect to the mine plan and contribution of development material from the new high grade discovery made in the upper levels of the Caylloma vein. Exploration drilling of this discovery is ongoing concurrent with stope preparation for production. The Company is prioritizing the definition of resources in this new area to incorporate them into the mine plan this year. This is the first full quarter of commercial operation for the copper circuit with a production of 295,854 pounds of Cu in concentrate.
Operating Highlights
Q1 - 2010 | Q4 – 2009 | Q1 - 2009 | |
Processed ore (t) | 101,503 | 97,989 | 91,449 |
Head grade | |||
Ag (g/t) | 167.23 | 165.05 | 147.81 |
Zn (%) | 3.44 | 3.42 | 3.83 |
Pb (%) | 2.87 | 3.14 | 3.11 |
Cu (%) | 0.25 | 0.24 | 0.23 |
Recovery(%) | |||
Ag (1) | 88 | 86 | 85 |
Zn | 89 | 89 | 90 |
Pb | 92 | 93 | 93 |
Cu | 53 | -- | -- |
Metal produced | |||
Ag (oz) (2) | 479,821 | 449,449 | 367,986 |
Zn (lb) | 6,868,811 | 6,597,229 | 6,948,967 |
Pb (lb) | 5,920,140 | 6,322,356 | 5,831,316 |
Cu (lb) | 295,854 | 94,227 | -- |
(1) Ag recovery in Pb and Cu concentrate
(2) Ag production in Pb and Cu concentrate
A NI 43 – 101 Technical Report dated August 11, 2009 on Reserves and Resources for the Caylloma Mine is available on the Company’s website at www.fortunasilver.com.
Qualified Person
Mr. Miroslav Kalinaj, P. Geo., is the Company’s Qualified Person as defined by National Instrument 43-101 and is responsible for the accuracy of the technical information in this material change report.
ITEM 6: RELIANCE OF SUBSECTION 7.1(2) of NATIONAL INSTRUMENT 51-102
Not applicable.
ITEM 7: OMITTED INFORMATION
Not applicable.
ITEM 8: EXECUTIVE OFFICER
Jorge Ganoza Durant, President & CEO
Telephone: 604-484-4085
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ITEM 9: DATE OF REPORT
April 12, 2010
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