Fortuna Mining Corp. reported a 15% year‑over‑year increase in consolidated mineral reserves, rising from 9.75 million tonnes to 16.36 million tonnes after accounting for production‑related depletion. The growth reflects a 34% expansion of underground reserves at the flagship Séguéla mine in Côte d’Ivoire, where proven and probable reserves climbed to 16.36 Mt and added 73,000 ounces of gold.
At Séguéla, the company’s underground reserves grew by 34%, with proven and probable tonnage increasing from 9.75 Mt to 16.36 Mt. The gold grade for these reserves fell modestly from 3.38 g/t to 3.01 g/t, indicating a slight dilution in grade but a substantial increase in overall resource size. The addition of 73,000 ounces of gold underscores the mine’s continued contribution to Fortuna’s production pipeline.
The Sunbird deposit saw a 55% rise in inferred resources, with tonnage increasing from 6.77 Mt to 9.99 Mt and gold content adding 261,000 ounces. This expansion was driven by 55 exploration drill holes totaling 29,442 m, and the inferred gold grade decreased by about 4%, reflecting a broader but still high‑grade resource base.
Management highlighted the strategic importance of these results. President and CEO Jorge A. Ganoza noted that the reserve growth supports the company’s focus on high‑margin assets and reinforces its position as it moves toward a construction decision for the Diamba Sud project by the end of Q2 2026. Senior VP of Exploration Paul Weeden emphasized that continued drilling at Sunbird confirms that high‑grade mineralization remains wide and open at depth, reinforcing the long‑term potential of the deposit.
The reserve and resource increases strengthen Fortuna’s future gold‑production pipeline and support its strategy of focused growth on high‑margin assets. With a strong balance sheet—$704 million in liquidity and $381 million in net cash—the company is well positioned to capitalize on these expanded resources while maintaining operational flexibility. The updates also signal continued progress on the Diamba Sud feasibility study, positioning Fortuna for further expansion beyond its existing operations.
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