Fortuna Mining Boosts Senegal Gold Resources by 53% Before Q4 2025 Economic Study
Fortuna Mining (NYSE: FSM; TSX: FVI) has significantly increased the mineral resource estimate at its Diamba Sud gold project in Senegal as it prepares a preliminary economic assessment (PEA) scheduled for completion in the fourth quarter of 2025.
The updated estimate now stands at 724,000 ounces of gold in indicated resources, a 53% increase from the year-end 2024 figure. Inferred resources have also surged 93% to 285,000 ounces.
The Diamba Sud resource spans seven deposits — Area A, Area D, Karakara, Western Splay, Kassassoko, Southern Arc, and Moungoundi.
The latest update includes:
31,000 metres of drilling (243 holes) completed between July 2024 and July 2025.
First-ever resource estimates for the Southern Arc (194,000 ounces) and Moungoundi (31,000 ounces) deposits.
In total, the resource calculation incorporates 1,178 diamond and reverse circulation drill holes completed since 2019.
Exploration and Development Plans
Fortuna plans additional drilling in Q4 2025 to further expand the resource base. The PEA for Diamba Sud is already underway and is also expected to be completed in the fourth quarter.
The company’s intensified focus on Senegal follows its recent decision to withdraw from Burkina Faso over jurisdictional risks. Fortuna’s largest West African asset remains the Séguéla mine in Côte d’Ivoire, which began production two years ago. Fortuna acquired Diamba Sud in 2023 to strengthen its regional footprint.
Market Reaction
Following the announcement, Fortuna’s shares rose 7.3% to C$9.46 by midday Tuesday, giving the company a market capitalization of C$2.93 billion (US$2.13 billion).
