Fortuna intersects 0.96 g/t gold over 350 meters at the Lindero Mine, Argentina
Fortuna’s Lindero infill drilling confirms a deep extension, though cost creep and production misses challenge management’s execution credibility.
Fortuna Mining Corp. (FVI) reported infill drilling results from its Lindero Mine in Argentina, highlighting an intersection of 0.96 g/t gold over 350 meters. The 2026 program consisted of 31 diamond drilling holes totaling 8,534 meters, designed to upgrade Inferred Mineral Resources and obtain metallurgical samples.
Key intersections included LDH-272, which returned 0.96 g/t Au over 350m, and LDH-261, which returned 1.05 g/t Au over 143m, including high-grade intervals up to 5.52 g/t Au over 2m. Mineralization extends significantly below the current life-of-mine (LOM) pit design, with specific zones like LDH-259 and LDH-272 intersecting 94m and 98m respectively below the pit limit.
The company plans to incorporate these results into an updated block model and pit design by year-end 2026, supporting a revised LOM plan and an updated Mineral Reserve estimate for Lindero in Q1 2027. Management noted the zone remains open at depth and that assay results are consistent with or higher than the block model estimates.
Fortuna Mining Corp. (FVI) reported that infill drilling at the Lindero mine confirmed the continuity of mineralization below the current pit shell, an expected exploration update that extends the potential mine life. The results do not alter the near-term production profile or cost structure, and the company notes that the market has already priced in the need for Lindero reserve extensions given the mine's aging status and prior cost issues.
The primary focus for investors remains the execution of the Seguela expansion and the Diamba Sud Final Investment Decision (FID), both of which are more material to the company's 500,000 oz/year growth target.
Fortuna Mining Corp. is a producing gold and silver company with operations in Argentina (Lindero), Peru (Caylloma), Côte d'Ivoire (Seguela), and Senegal (Diamba Sud). The company is pursuing a growth strategy targeting over 500,000 ounces of annual gold equivalent production by 2028, driven by the Seguela plant expansion and the development of Diamba Sud. Assets are located in diverse jurisdictions, with Senegal and Côte d'Ivoire representing the core growth pipeline. The company also holds an earn-in interest in the Quartzstone project in Guyana.