San Jose Mine, Mexico

Our largest silver producer


Our San Jose Mine in the Taviche Mining District, Oaxaca, Mexico, produces silver and gold. The underground mine is operated by Compañia Minera Cuzcatlan S.A. de C.V., a Mexican subsidiary 100% owned by Fortuna. It is a low sulfidation epithermal vein deposit and based on reserves reported as of December 31 2023, the operation has a one-year mine life.

The San Jose Mine was commissioned in July 2011 and began commercial production in September 2011 at 1,000 tonnes per day. With strategic investment over many years, we increased the mill’s capacity to 3,000 tonnes per day by mid-2016. In 2023, the mine produced 4.7 million ounces of silver and 28,559 ounces of gold.

We recognize the role our San Jose Mine plays to support sustainable development in our areas of influence around the mine. In 2023, we employed 1,095 direct employees and contractors.

San Jose Mine Video


Silver, gold





tonnes milled in 2023

Claim block area



Deposit type

Low sulphidation epithermal vein deposit

Mining method

Underground cut-and-fill

Operating highlights 202312024E1
Tonnes milled (000)930900
Average milled (tpd)2,6432,466
Silver production (Moz)4.73.1 – 3.6
Gold production (koz)28.619 – 23
AISC2,3,4 (US$/oz Ag Eq)19.4022.80 – 24.00


Our San Jose Mine is located in the Taviche Mining District in central Oaxaca, southern Mexico (Latitude 16° 41’ 40” N, Longitude: 96° 42’ 00” W). Mining occurs year-round.

Many of our workers and suppliers come from the nearest city, Oaxaca, a 47-kilometre drive to the north, and the nearby communities of San Jose del Progreso and Ocotlán de Morelos. Oaxaca is the nearest international airport, and the mine is less than one kilometre from Federal Highway 175, the major highway between Oaxaca and Puerto Angel on the Pacific coast.

Geology and mineralization

The San Jose deposit is a low sulfidation epithermal vein system characterized by mineralized multiphase quartz-carbonate-sulphide veins, hydrothermal breccias and stockwork veining. The mineralized system is hosted in a sequence of Tertiary andesitic volcanic and volcaniclastic rocks.

Mineral reserves

0.7 million tonnes

averaging 156 g/t Ag and 0.98 g/t Au containing 3.7 Moz Ag and 23 koz Au

Refer to Mineral Reserves and Resources table below for full disclosure

Brownfields exploration

The Brownfields exploration program budget for 2024 at San Jose is $4.9 million, which includes 13,900 meters of diamond drilling, focused on testing and extending the Yessi vein as well as exploring additional targets within the mine area.

Mineral reserves and resources

Mineral Reserves – Proven and Probable    Contained Metal 
PropertyClassificationTonnes (000)Ag (g/t)Au (g/t)Ag (Moz)Au (koz)
Mineral Reserves – Proven and Probable
San Jose, Mexico
 Proven + Probable7331560.983.723
Mineral Resources – Measured and Indicated
San Jose, Mexico
 Measured + Indicated1,0461471.115.037
Mineral Resources – Inferred
 San Jose, MexicoInferred1,0291471.044.935

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