Fortuna Mining reports 53% increase in Diamba Sud Gold Project resource.

Fortuna Mining Corp. has reported an updated Mineral Resource estimate for the Diamba Sud Gold Project in Senegal. The indicated mineral resource has increased by 53% to 724,000 gold ounces, while the inferred mineral resource has increased by 93% to 285,000 gold ounces. The company is currently conducting a preliminary economic analysis, which is expected to be completed in Q4 2025.

Fortuna Mining Corp. (NYSE: FSM) has announced an updated Mineral Resource estimate for its Diamba Sud Gold Project in Senegal. The update, effective as of July 7, 2025, reveals a significant enhancement to the project's scale and economic potential. The indicated mineral resource has increased by 53% to 724,000 gold ounces, while the inferred mineral resource has surged by 93% to 285,000 gold ounces. This substantial growth is attributed to 243 new drill holes totaling 31,652 meters completed between July 2024 and July 2025.

The updated estimate includes first-time Inferred Resource estimates for two new deposits: Southern Arc (194,000 ounces) and Moungoundi (31,000 ounces). These deposits, along with the existing resources, now form a diverse portfolio consisting of seven distinct zones. The resource growth stems from both effective infill drilling that upgraded existing resources and expansion drilling that delivered entirely new deposits. The quality of these resources appears robust, with consistent grades averaging 1.59 g/t gold for Indicated and 1.44 g/t for Inferred material. These grades are commercially viable in an open-pit mining scenario, especially considering the $2,600/oz gold price assumption used in the pit optimization.

The company is currently conducting a Preliminary Economic Analysis (PEA), with completion targeted for Q4 2025. The PEA will translate these geological resources into potential economic values by incorporating mining methods, processing recoveries, capital requirements, and operating costs. The methodical approach to resource estimation, with appropriate drilling density and robust QA/QC protocols, provides confidence in the reliability of these figures.

The Diamba Sud Gold Project is located in Senegal and is part of Fortuna Mining's portfolio of exploration and development projects. The project has the potential to significantly contribute to Fortuna's production and revenue growth. The updated Mineral Resource estimate represents a substantial enhancement to the project's scale and value proposition, setting the stage for future development and investment.

References:
[1] https://www.stocktitan.net/news/FSM/fortuna-advances-diamba-sud-gold-project-in-senegal-with-updated-gherzb2xzwbv.html