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Fortuna Metals Ltd (ASX:FUN)

ALERT: Price-sensitive ASX Announcement for FUN
Current share price for FUN : $0.100 -0.01 (-9.09%)+
Announcement
Release
6 Jul 2026 8:21AM
Price at Release
$0.110
Full Release
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Summary
Fortuna Metals Ltd has commenced a 5,000-meter aircore drilling program at its Mkanda Project in Malawi, targeting high-grade areas to increase the resource potential at depth. The program aims to release a maiden inferred resource estimate in July 2026. The project has already seen the completion of 648 hand auger drill holes, contributing to future resource estimates. The Mkanda and Kampini Projects, covering 658 km², are located near Sovereign Metals Limited's world-class Kasiya rutile project. The drilling programs for 2026 are focused on expanding and increasing resource confidence. The company's efforts are part of a broader strategy to become a key player in the development of titanium, graphite, and rare earth resources in the region.
Key Points
  • 5,000m aircore drilling program commenced at high-grade areas.
  • Maiden Inferred Resource Estimate anticipated release in July.
  • 648 hand auger drill holes completed for future resource estimates.
  • 10,713m drilled across Mkanda project to an average depth of 8m.
  • Mkanda and Kampini Projects cover 658 km² in Malawi.
  • Proximity to Sovereign Metals' Kasiya rutile project.
  • Drilling programs aim to increase resource potential and confidence.
  • Focus on rutile, graphite, and rare earth mineralization.
  • Mkanda project demonstrates potential for large-scale resource expansion.
  • Strategic development of titanium, graphite, and rare earth resources.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.