Northwire Canada EditionWednesday, November 11, 2026
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Gold 4,030.20 −2.0% Silver 51.23 −2.8% Copper 6.27 −1.2% Oil 86.04 −0.9% Palladium 1,024.00 +0.2% NVX 0.910 +0.0% MSR 0.435 +0.0% ELE 22.85 −4.0% ALS 53.01 −2.2% APM 5.13 −6.6% AVL 5.46 −5.4% NG 8.84 −9.0% ATY 0.220 −2.2% CN 0.125 −10.7% PMET 3.22 −4.2% ITH 1.99 −11.6% VMET 12.33 −6.9% ABX 56.41 −5.6% PUR 0.370 +8.8% SCY 0.085 +6.2% AUMN 0.300 +7.1% Gold 4,030.20 −2.0% Silver 51.23 −2.8% Copper 6.27 −1.2% Oil 86.04 −0.9% Palladium 1,024.00 +0.2% NVX 0.910 +0.0% MSR 0.435 +0.0% ELE 22.85 −4.0% ALS 53.01 −2.2% APM 5.13 −6.6% AVL 5.46 −5.4% NG 8.84 −9.0% ATY 0.220 −2.2% CN 0.125 −10.7% PMET 3.22 −4.2% ITH 1.99 −11.6% VMET 12.33 −6.9% ABX 56.41 −5.6% PUR 0.370 +8.8% SCY 0.085 +6.2% AUMN 0.300 +7.1%
Resource Estimate

Fortuna Mining's Diamba Sud at 1.25 Moz Au indicated

By The Northwire Desk — AI Analysis Feb 19, 2026 · 14:46 FVI · 14.36 Fortuna Mining Corp.
FVI · Price

Executive Summary

  • Fortuna Mining Corp. released an updated mineral resource estimate for its Diamba Sud gold project in Senegal, effective January 16, 2026.
  • The update reflects a 73% increase in Indicated Mineral Resources, totaling 1.25 million ounces of gold, driven by infill and expansion drilling as well as an updated gold price assumption.
  • The company is advancing a feasibility study for the project, targeting completion by the end of Q2 2026 to support a potential construction decision in mid-2026.

Key Details

  • Indicated Mineral Resources: 26.0 million tonnes at an average grade of 1.50 g/t Au, containing 1,254,000 ounces of gold.
  • Inferred Mineral Resources: 2.1 million tonnes at an average grade of 1.13 g/t Au, containing 77,000 ounces of gold.
  • Southern Arc Deposit: First-time estimation of indicated resources for this deposit, comprising 6.0 million tonnes at 1.91 g/t Au, containing 367,000 ounces of gold; identified as the largest gold deposit discovered to date at Diamba Sud.
  • Resource Growth Drivers:
    • Infill drilling at Area A, Area D, Karakara, Southern Arc, Moungoundi, and Western Splay converted inferred resources to indicated resources, increasing confidence.
    • Expansion drilling at Southern Arc and Moungoundi resulted in increased mineral resources for these specific deposits.
    • Updated gold price assumption of $3,300 USD per ounce applied in the estimation process.
  • Exploration Status: Continued exploration drilling at Southern Arc, Moungoundi, and new targets has intersected mineralization beyond current resource envelopes, indicating further growth potential. Drilling is planned to continue throughout 2026.
  • Feasibility Study: Progressing toward completion by the end of Q2 2026 to support a potential construction decision targeted for mid-2026.
  • Qualified Person: Eric Chapman, Senior Vice-President, Technical Services, reviewed and approved the scientific and technical information.

Notable Quotes

  • "This updated mineral resource estimate represents a significant advancement for the Diamba Sud gold project, highlighted by a 73-per-cent increase in indicated gold ounces with 94 per cent of total gold ounces now in the indicated category. This update provides a strong foundation for the feasibility study we plan to publish by midyear 2026 and materially advances the project toward a final investment decision." — Jorge A. Ganoza, President and CEO
  • "Diamba Sud, together with the expansion of the Seguela mine, currently under study, is central to our strategy to grow Fortuna into a company capable of producing more than 500,000 ounces of gold annually from long-life assets." — Jorge A. Ganoza, President and CEO
Read the original news release →

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M&A / Property