Fortuna logs high-grade gold in Senegal, extends depth
Diamba Sud is among the key development assets that Fortuna is counting on to lift annual output.
Fortuna Mining's drilling at its Diamba Sud project in Senegal has yielded high-grade gold results, extending the depth of the mine's mineral reserve. In the Southern Arc zone, two holes cut significant gold grades at depth. Hole DSR1149 reached 228 meters, cutting 3.9 grams gold per tonne, while Hole DSDD699 reached 96 meters, extracting 6.8 grams gold per tonne.
The Diamba Sud project is a key development asset for Fortuna, aiming to boost annual output to 500,000 gold-equivalent ounces by 2028 from a forecast of 305,000 ounces in 2023. The company's exploration team has completed 196 reverse circulation and diamond drilling holes covering 36,592 meters in the Southern Arc area, identifying further depth and strike extensions.
Fortuna plans to incorporate these results into mineral resource and reserve reporting at year-end and has scheduled further step-out drilling for 2027. The project's feasibility study suggests a net present value of $1 billion, a 60% internal rate of return, and a one-year payback period, representing 18% of Fortuna's net asset value.
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