Fortuna Mining Corp. reports an updated Mineral Resource estimate for the Diamba Sud Gold Project in Senegal, showing a 53% increase in Indicated Mineral Resource to 724,000 gold ounces and a 93% increase in Inferred Mineral Resource to 285,000 gold ounces as of July 7, 2025. Preliminary Economic Analysis is targeted for Q4 2025. Exploration drilling continues at Southern Arc.
The Diamba Sud Gold Project contains an Indicated Mineral Resource of 724,000 ounces of gold and an Inferred Mineral Resource of 285,000 ounces of gold. The estimate is based on new drilling completed between July 2024 and July 2025, totaling 243 holes and 31,652 meters. The data collected improved geological interpretation and resource modeling for various areas, contributing to the expansion of Diamba Sud’s pipeline of emerging deposits.
Changes in the Mineral Resource estimate are due to infill drilling that supported the conversion of Inferred Resources to Indicated Resources and exploration drilling at Southern Arc and Moungoundi leading to the first-time estimation of Inferred Mineral Resources. A long-term gold price assumption of $2,600/oz and refined mining and processing costs contributed to updated pit shell optimization and cut-off grade determination.
The Mineral Resource at Diamba Sud includes seven deposits and incorporates data from 1,178 diamond and reverse circulation drill holes totaling 154,814 meters since 2019. Samples were collected at regular intervals, and quality control procedures were implemented. A block model was built for each deposit, and grade interpolation was performed using appropriate methods. Bulk density values were assigned based on water immersion measurements.
The Mineral Resource classification considered geological continuity, data density, data accuracy, and grade continuity. Indicated Mineral Resources rely on a drilling grid of approximately 25 meters, while Inferred Mineral Resources are based on a 50-meter grid. Resources are reported at incremental gold cut-off grades reflecting varying metallurgical recoveries, mining, processing, and general costs, with a gold price assumption of $2,600/oz.
Forward-looking statements in the news release cover Mineral Resource estimates, exploration plans, and business strategies. Risks include operational, economic, environmental, and geopolitical factors that could impact the Company’s operations. Caution is advised to U.S. investors, as Canadian standards on reserve and resource estimates differ from those of the Securities and Exchange Commission.
Fortuna Mining Corp. focuses on efficient production, environmental stewardship, and social responsibility in its precious metals mining operations in various countries. Investor relations contact information is provided for more details. The news release emphasizes the importance of understanding the risks associated with investing in mineral projects and the potential impact of various factors on the company’s performance.
Read more at GlobeNewswire: Fortuna Advances Diamba Sud Gold Project in Senegal with