Fuerte Metals Begins 40,000 m Drilling Program at the Coffee Gold Project

The most recent news (March 30, 2026) announces the commencement of a massive 40,000-meter drilling program at the Coffee Gold Project in Yukon. This follows a string of significant milestones: a "Game Changer" Preliminary Economic Assessment (PEA) in February 2026 and the awarding of a C$77M road construction contract in early March. The drilling is specifically designed for resource conversion (Inferred to Indicated) to support a Feasibility Study (FS) expected by late 2026. The program targets high-grade zones like Supremo Extension (1.72 g/t Au Inferred) to bolster the mine plan for a construction decision in early 2027.

The news is Routine - Positive. While the scale of the 40,000m program is significant, it is a logical and expected follow-up to the PEA released in February. - De-risking: Converting 0.8 Moz of Inferred resources is critical for the Feasibility Study. The current M&I base of 3.0 Moz is solid, but the Supremo Extension's higher grades could significantly improve early-year cash flows if converted. - Execution Momentum: Starting the drill program on schedule, combined with the recently awarded Northern Access Route (NAR) contract, signals that management is meeting its aggressive timelines. - Economic Sensitivity: The PEA (Feb 2026) showed an NPV5% of US$2.3B at consensus prices. This drilling is the primary mechanism to turn those "paper" economics into a bankable Feasibility Study.

Fuerte Metals is focused on the Coffee Gold Project in Yukon, Canada, acquired in 2025. - Flagship: Coffee Gold Project is a high-grade, open-pit, heap-leach project. - Resources: 3.0 Moz M&I (1.15 g/t) and 0.8 Moz Inferred (1.17 g/t). - Economics: PEA (2026) suggests 249,000 oz/year production for the first 5 years at an AISC of US$1,274/oz. - Secondary Assets: Cristina (Mexico) and Placeton (Chile) provide exploration upside but are currently secondary to Coffee.