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Drilling by Fortuna Mining (TSX: FVI, NYSE: FSM) has returned board mineralized gold intervals from the Kabewest prospect at its recently acquired Bambadji project in Senegal. The stock rose.
Highlights included hole FBRC0008 which returned a grade of 1.9 grams of gold per tonne over an estimated width of 64 metres from a 19-metre downhole depth, including 16.3 grams of gold per tonne over an estimated width of 1.5 metres from 24 metres downhole.
“These results provide strong support for our geological interpretation and show clear similarities to the breccia-hosted mineralization at Diamba Sud,” said Paul Weedon, Fortuna’s senior vice-president of exploration.
Bambadji is adjacent to Fortuna’s Diamba Sud property, giving the Vancouver-based company control of about 60 kilometres of potentially gold-bearing ground.
Company shares lifted 2.75% to C$12.73 apiece Monday afternoon in Toronto.
Further highlights
Other drill highlights include hole FBDD0008, which returned an interval grading 3.2 grams of gold per tonne over an estimated true width of 24 metres from the surface. Included in this interval was an 11.3 grams of gold per tonne hit over a true width of 1.5 metres from 8 metre downhole, and 12.2 grams of gold per tonne over an estimated true width of 0.7 metres from 30 metres.
“With approximately 70% of assays received, the results to date continue to build confidence in the interpreted controls on mineralization and in Bambadji’s potential to expand Diamba Sud,” Weedon added.
Once complete, Fortuna wants to incorporate the assay dataset to support a planned initial inferred mineral resource estimate for Kabewest. The estimate is planned to be published in Q1 of 2027.
Broader program
These are the first results from the initial Kabewest program, which consisted of a total of 10,524 metres drilled. Fortuna says the work is the first phase of a broader $8 million (C$5.72 million) 51,000-meter drilling program planned across the Bambadji project through the end of 2026.
With the initial campaign at Kabewest now complete, the six drill rigs have been relocated to the Wari and Latifa prospects.
Fortuna also says work is also progressing to refine targets for the 2027 field season. Using geochemical and geophysical data, the company has identified three mineralized trends. Historical drilling along these trends is generally shallow and widely spaced, leaving several multi-kilometre gaps for the company to fill.