1. Fortuna reports promising exploration results from Diamba Sud in Senegal. 2. Diamba Sud has an after-tax NPV of US$563 million at US$2,750 gold. 3. Drilling shows high-grade gold intersections, supporting resource growth potential. 4. Feasibility study and construction decision targeted for Q2 2026. 5. Challenges remain due to preliminary nature of economic evaluation.
FAQ
Why Bullish?
The strong exploration results and high NPV indicate potential for substantial value growth. Historical examples show similar projects experiencing price surges following positive drill results.
How important is it?
The significant economic indicators and exploration findings indicate a likely future increase in FSM's stock price, attracting investor interest.
Why Long Term?
The projected growth from the Diamba Sud project will support long-term value as construction phases progress, similar to previous successful mining projects extending over several years.
Fortuna Mining Reports Significant Drilling Results from Diamba Sud Gold Project
VANCOUVER, British Columbia, Dec. 08, 2025 (GLOBE NEWSWIRE) -- Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) has announced promising exploration drilling results from the Southern Arc deposit at its Diamba Sud Gold Project in Senegal. This project, currently in the preliminary economic assessment (PEA) stage, showcases robust economic potential, evidenced by an estimated after-tax NPV5% of US$563 million and an impressive IRR of 72% at a gold price of US$2,750 per ounce.
Upcoming Feasibility Study and Construction Decision
The Diamba Sud Gold Project is advancing toward a feasibility study, with a construction decision targeted for the second quarter of 2026. Paul Weedon, Senior Vice President of Exploration at Fortuna, stated, “Southern Arc continues to deliver strong results with high-grade intersections from both infill and extension drilling.”
Highlighted results include drillhole DSDD555, which returned 6.8 g/t gold over an estimated true width of 35.5 meters. Notably, DSDD574 intersected 1.7 g/t gold over an estimated true width of 29.6 meters, along with a further 2.0 g/t over an estimated true width of 20.0 meters.
Ongoing Exploration and Drilling Highlights
Since the last exploration update on May 27, 2025, Fortuna has completed a total of 63 reverse-circulation and diamond drill holes, summing up to 9,619 meters at the Southern Arc site. The drilling program employs five drill rigs with key objectives including:
- Ongoing infill drilling to enhance resource confidence.
- Continued step-out drilling to the southwest, east, and south, where mineralization remains open.
Noteworthy drill results include:
- DSDD558: 1.8 g/t Au over 12.8m, including 22.1 g/t Au over 0.8m.
- DSDD562: 4.5 g/t Au over 5.6m, including 46.3 g/t Au over 1.6m.
- DSDD567: 4.6 g/t Au over 26.6m, including 18.3 g/t Au over 1.6m.
Mineralization and Resource Potential at Southern Arc
The mineralization observed at Southern Arc is characterized by variably developed fine stockwork vein arrays, showing a strong correlation with several geological features. The alteration processes encountered include extensive hematite development, consistent with mineralized systems in the wider Diamba Sud area.
Overall, the recent drilling results affirm the strong potential for continued resource growth at Diamba Sud, with Southern Arc remaining open to further exploration in all directions.
Quality Assurance & Quality Control Procedures
Fortuna Mining Corp. has established thorough quality assurance and quality control (QA-QC) measures throughout the drilling program. Notably, reverse-circulation drilling utilized a 5.25-inch face sampling pneumatic hammer, ensuring organized and dry sample collection.
All drilling activities were conducted under strict supervision, with industry-standard procedures in place for logging and sampling. The commitment to quality ensures that drill data is reliable and sets a strong foundation for future resource estimations and project developments.