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Fortuna Metals Ltd (ASX:FUN)

ALERT: Price-sensitive ASX Announcement for FUN
Current share price for FUN : $0.093 -0.012 (-11.43%)+
Announcement
Release
15 Jul 2026 9:32AM
Price at Release
$0.105
Full Release
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Summary
Fortuna Metals Ltd has announced a significant milestone with the maiden Mineral Resource Estimate (MRE) for its Mkanda rutile and graphite project in Malawi. This project, marked by 298 million tonnes at 0.87% rutile and 1.19% Total Graphitic Carbon (TGC) at a 0.7% cut-off, positions Mkanda among the top 6 global rutile deposits. The resource is characterized by easily accessible material, promising further growth with ongoing drilling initiatives. The Mkanda project not only highlights a substantial graphite by-product but also potential zircon and monazite mineralisation. Fortuna Metals is actively advancing this project through various feasibility and pilot assessments, with a focus on developing a high-quality rutile product that boasts 96.6% TiOâ‚‚.
Key Points
  • Fortuna Metals Ltd announced a maiden Mineral Resource Estimate (MRE) for the Mkanda rutile and graphite project.
  • The resource is considered globally significant, comprising 298 million tonnes at 0.87% rutile and 1.19% Total Graphitic Carbon (TGC), with a cut-off of 0.7%.
  • A higher grade component includes 159 million tonnes at 0.98% rutile and 1.11% TGC with a 0.8% cut-off.
  • Mkanda is ranked among the top 6 globally for contained rutile deposits.
  • The mineralisation is hosted in soft, easily extractable weathered materials.
  • There is potential for further resource growth as current drilling and assessments continue.
  • Significant by-products include graphite, with an initial estimate of 3.55 million tonnes of contained graphite at 1.19% TGC.
  • The project also shows potential for zircon and monazite mineralisation.
  • Fortuna Metals is engaged in multiple workstreams including feasibility studies and pilot plant assessments.
  • The high-quality rutile product confirmed contains 96.6% TiO2.
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.