Fortuna Mining Corp. reported that two new drill intercepts at its Diamba Sud gold project in Senegal have extended the known mineralization. Drill hole DSDD574 returned a 1.7 g/t gold intercept over a true width of 29.6 m and a 2.0 g/t intercept over 20.0 m, both located southwest of the current optimized pit shell. These results are part of a program that has already completed 9,619 m of reverse‑circulation and diamond drilling at the Southern Arc deposit.
The company said the new data will be incorporated into an updated resource estimate expected in the first quarter of 2026. The preliminary economic assessment for Diamba Sud, which is still in the PEA stage, projects a 72 % after‑tax internal rate of return and a $563 million net present value at a $2,750 gold price. The drill program is advancing with five rigs and is testing the deposit’s openness to the south, east, and at depth, positioning the project to add an estimated 150,000 ounces of gold annually by 2027 and support Fortuna’s mid‑term target of 500,000 ounces.
Fortuna’s financial performance in the third quarter of 2025 underpinned the company’s confidence in the project. Free cash flow rose to $73.4 million, up from $57.4 million in Q2 2025 and $30.4 million in Q3 2024, while liquidity remained near $600 million. The strong cash generation gives the company the flexibility to fund the Diamba Sud expansion and other growth initiatives, such as the ongoing development of its Séguéla mine in Côte d’Ivoire.
CEO Jorge Ganoza highlighted the significance of the new intercepts, noting that they “demonstrate the continued geological promise of Diamba Sud and reinforce our strategy to become a multi‑mine producer in West Africa.” He also acknowledged the challenges of operating in Senegal’s under‑developed mining sector but expressed confidence that robust planning and local partnerships will mitigate headwinds.
The drill results are a key step in de‑risking the project and moving toward a construction decision in mid‑2026. By extending mineralization beyond the current pit, Fortuna can increase its production profile, improve economies of scale, and enhance shareholder value through higher gold output and stronger project economics.
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