Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) is pleased to report results from infill drilling designed to test open mineralization at depth and upgrade Inferred Mineral Resources below the current life-of-mine (“LOM”) pit design of the gold porphyry deposit at the Lindero Mine in Argentina.
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Corp. → report → Argentina
The results confirm that gold mineralization extends significantly below the current reserve pit design.
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mineralization → confirm → design
Eric Chapman, Senior Vice President of Technical Services, commented, “The 2026 infill drilling program returned multiple intersections with gold grades consistent with or higher than the corresponding grades estimated in the block model.”
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program → comment → model
Mr. Chapman added, “We are incorporating the drill results into an updated block model and pit design, targeted for completion by year-end.
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We → add → end
This work will support a revised LOM plan and an updated Mineral Reserve estimate for Lindero, incorporating both the upgraded gold mineralization and existing Indicated Mineral Resources currently located below the pit.”
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work → support → pit
Mr. Chapman concluded, “This zone remains open at depth.”
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zone → conclude → depth
Note: Gold mineralization at Lindero is circular in nature and associated with a porphyry intrusive; therefore, a specific azimuth or dip cannot be defined for reporting estimated true widths.
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azimuth → note → widths
The 2026 drill program consisted of 31 diamond drilling (“DD”) holes, totalling 8,534 meters, having been extended from the initially planned 6,000-meter program due to the success from the initial holes.
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program → consist → holes
The program was designed with two objectives, firstly to upgrade Inferred Mineral Resources below the current LOM pit design in the south portion of the Lindero Deposit, where higher gold grade mineralization was identified at depth.
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mineralization → design → depth
The upgrade drilling successfully encountered higher than expected gold mineralization in several holes, such as, LDH-259 that intersected 0.85 g/t Au over 236 meters from surface, including 94 meters averaging 0.66 g/t Au below the current pit design (refer to Figure 1) and LDH-272 that intersected 0.96 g/t Au over 350 meters from surface, including 98 meters averaging 0.91 g/t Au below the pit design (refer to Figure 2).
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that → encounter → Figure
An updated Mineral Resource and Mineral Reserve estimate will be prepared for inclusion in the year-end consolidated report, planned for release in the first quarter of 2027.
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estimate → update → 2027
Gold mineralization at the Lindero Deposit forms a circular body approximately 600 meters in diameter and extends vertically more than 300 meters below the current topographic surface.
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mineralization → form → surface
The distribution of gold mineralization shows a strong relationship to lithology, stockwork veinlets, and alteration assemblages.
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distribution → show → lithology
Higher gold grades of more than 1 g/t Au, characterized by native, free-milling gold, are commonly associated with sigmoidal quartz, quartz-magnetite-sulfide, biotite-magnetite-chalcopyrite, magnetite-chalcopyrite, and quartz-limonite–hematite stockworks that are strongly associated with K-feldspar alteration.
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that → characterize → alteration
This association is most common in the southern and eastern portions of the deposit, where the highest gold grades occur.
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grades → occur → deposit
Where one or more stockwork types are absent or fracturing is less intense, mineralization tends to be weaker and gold grades lower at approximately 0.4 g/t Au.
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mineralization → tend → Au
All drilling data completed by the Company utilized the following procedures and methodologies.
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data → complete → procedures
All drilling was carried out under the supervision of the Company’s personnel.
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drilling → carry → personnel
All DD holes started with HQ sized diameter, before reducing to NQ diameter diamond drill bits on intersecting fresh rock.
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holes → start → rock
The core was logged, marked up for sampling using standard lengths of two meters or to a geological boundary.
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core → log → boundary
Samples were then cut into equal halves using a diamond saw.
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Samples → cut → saw
One half of the core was left in the original core box and stored in a secure location at the Company core yard at the project site.
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half → leave → site
The other half was sampled, catalogued, and placed into sealed bags and securely stored at the site until shipment.
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half → sample → shipment
All DD samples were transported by commercial transport to ALS Patagonia S.A. preparation laboratory in Mendoza, Argentina.
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samples → transport → Mendoza
Sample pulps prepared by ALS Patagonia were then transported via commercial courier to ALS’s facility in Lima, Peru.
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pulps → prepare → Lima
Routine gold analysis using a 30-gram charge and fire assay with an atomic absorption finish was completed for all samples at ALS’s Lima laboratory plus ME-ICP61, analysis of 34 elements four acid ICP-AES.
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analysis → use → AES
Samples returning assays >10 ppm Au were reanalysed using a 30-gram charge and fire assay with a gravimetric finish.
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Samples → return → finish
Quality control procedures included the systematic insertion of blanks, duplicates and sample standards into the sample stream.
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procedures → include → stream
In addition, ALS inserted their own quality control samples.
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ALS → insert → samples
Eric Chapman, Senior Vice President, Technical Services for Fortuna Mining Corp., is a Professional Geoscientist registered with Engineers and Geoscientists British Columbia (Registration No. 36328).
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Chapman → register → Engineers
Mr. Chapman has reviewed and approved the scientific and technical information contained in this news release.
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Chapman → review → release
Mr. Chapman has verified the data disclosed, including the sampling, analytical and test data underlying the information or opinions contained herein by reviewing geochemical and geological databases and reviewing diamond drill core.
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Chapman → verify → core
Fortuna Mining Corp. is a Canadian precious metals mining company with three operating mines in Argentina, Côte d’Ivoire, and Peru, and the feasibility-stage Diamba Sud Gold Project in Senegal.
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Corp. → operate → Senegal
Our exploration portfolio spans our operating jurisdictions as well as Guinea and Guyana.
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portfolio → span → Guinea
We produce gold and silver while creating long-term shared value through efficient production, environmental stewardship, and social responsibility.
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We → produce → production
This news release contains forward-looking statements which constitute “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 (collectively, “Forward-looking Statements”).
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which → contain → 1995
All statements included herein, other than statements of historical fact, are Forward-looking Statements and are subject to a variety of known and unknown risks and uncertainties which could cause actual events or results to differ materially from those reflected in the Forward-looking Statements.
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events → include → Statements
The Forward-looking Statements in this news release include, without limitation, statements regarding exploration at the Lindero Mine, including the plans to incorporate the drill results into an updated block model and pit design, targeted by the end of 2026 which are intended to support a revised life of mine plan and an updated Mineral Reserve estimate for the Lindero Mine; statements that an updated Mineral Resource and Mineral Reserve estimate is intended to be prepared for inclusion in the year-end consolidated report, planned for release in the first quarter of 2027; statements that the zone drilled remains open at depth; statements about the Company’s business strategies, plans and outlook; the Company’s plans for its mines and mineral properties; changes in general economic conditions and financial markets; the impact of inflationary pressures on the Company’s business and operations; the future results of exploration activities; expectations with respect to metal grade estimates and the impact of any variations relative to metals grades experienced; assumed and future metal prices; the merit of the Company’s mines and mineral properties; and the future financial or operating performance of the Company.
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zone → look → Company
Often, but not always, these Forward-looking Statements can be identified by the use of words such as “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “proposed”, “used”, “detailed”, “has been”, “gain”, “planned”, “reflecting”, “will”, “anticipated”, “estimated”, “containing”, “remaining”, “to be”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.
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events → look → variations
Forward-looking Statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by the Forward-looking Statements.
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results → involve → Statements
…and 10 more, not listed.
The Aporia
