Fortuna Silver Mines Inc said on Monday that third quarter silver production rose 42 percent, boosted by new output from the San Jose mine in Mexico.

Fortuna produced 673,137 ounces of silver in the quarter, while gold production more than doubled to 1,623 ounces. The company said it is on track to produce 2.4 million ounces of silver and 7,530 ounces of gold this year.

Output from San Jose, which started commercial production in September, is expected to rise over the next two years as the project is expanded.

Vancouver-based Fortuna said that it is also currently studying the possibility of expanding production at its flagship Caylloma mine in Peru.