➡ Fortuna Mining has updated their mineral reserves for their main Seguell Mine in Cote d’Ivoire. The mine, which started last year, has increased its estimated gold resources to 677,000 ounces thanks to successful exploration programs. They plan to continue expanding and drilling in 2025 to replace used resources and grow reserves. The company’s leader, Jorge Ganoza, often discusses the different mining targets within Seguella that will be active in 2025.

Well, hello there, my friends. Chris Marcus here with you for Arcadia Economics and a quick update today as Fortuna Mining has updated their mineral reserves and mineral resources for their Seguell Mine in Cote d’Ivoire, which of course was brought online in June, actually May of last year, that has become their flagship project after their rock school deal back in 2021 and a year into production now and we do have an updated resource, so wanted to go through the highlights of that with you here. And we’ll start with Jorge Ganoza, who you see on the show often, especially on their calls that we host here, and he mentions, our exploration programs in 2024 have successfully grown our inferred resources to 677,000 gold ounces, including the contribution of four new mineral deposits.

These new resources come from a growing pipeline of deposits that are planned for further expansion and drilling in 2025 as they look to replace annual production depletion and expand reserves, and obviously he talks quite about a lot about the different mines and some of the different targets within Seguella that will be coming online in the 2025 in particular, and I’ll link to the last call that we did with him after we wrap up here, but let’s take a look through the highlights because we can see proven and probable mineral reserves are reported in containing 1 million ounces of gold, measured and indicated resources, exclusive of said mineral reserves are at 396,000 ounces of gold, and as I mentioned before in Jorge’s quote, inferred mineral resources at 677,000 ounces of gold, that’s 294,000 from Vadior, as well as 141,000 at the Sunbird deposit, which I know is one in particular they are quite excited about.

Also here they mentioned for 2024 Seguella going to come in at the upper range of their guidance of 126,000 to 138,000 ounces. Paul Weeden mentions, Kingfisher deposit has emerged as an important discovery which remains open along strike and at depth, and of course that is one of the newer deposits that they have found at their Seguella location. And one last note here is that they are continuing drilling, it is ongoing at Seguella, they are targeting extensions down dip and a long strike at both Kingfisher and Sunbird and upon the completion of that drilling they will be updating the Kingfisher and Sunbird inferred mineral resource estimate.

So congratulations to Ford Tuna, certainly a good year it has been for them and appreciate them being a part of the show and hope you found this one helpful just in staying posted on what is going on there. And again to hear that full call from the last earnings release with Jorge Ginoza, well that one’s coming your way right now. [tr:trw].

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