Fortuna Mining (FSM) Boosts Diamba Sud Resources by 53% Ahead of Q4 Preliminary Economic Assessment

Fortuna Mining Corp. (NYSE:FSM) is one of the best Canadian gold stocks to buy according to hedge funds. On August 5, the company reported an updated mineral resource estimate for the Diamba Sud Gold Project in Senegal as of July 7, 2025.

In the update, indicated mineral resources were 14.2 million tons grading 1.59 g/t gold, containing 724,000 ounces. This is a 53% increase from the previous resource estimate at the end of 2024. Meanwhile, the inferred mineral resources were 6.2 million tons grading 1.44 g/t gold, containing 285,000 ounces. This reflects a 93% increase in inferred ounces since the last estimate.

The update includes first-time resource estimates for the Southern Arc (194,000 oz Au) and Moungoundi (31,000 oz Au) deposits, totaling 225,000 oz Au across seven deposits. The company stated that the updated figures are based on drilling from July 2024 to July 2025, comprising 243 diamond and reverse circulation drill holes totaling 31,652 meters.

Fortuna Mining stated that it is actively working on a Preliminary Economic Assessment (PEA) for Diamba Sud, with completion targeted for the fourth quarter of 2025. The Diamba Sud property covers about 5,340 hectares within the highly prospective Kenieba-Koudougou Inlier of eastern Senegal, a region that hosts several world-class gold mines.

Fortuna Mining Corp. (NYSE:FSM) is a Canadian mining company. It acquires, develops, and operates gold and silver properties across Latin America and West Africa, primarily through the Lindero gold mine in Argentina, the Séguéla gold mine in Côte d’Ivoire, and the San Jose silver-gold mine in Mexico. Its main products are gold bullion and silver concentrate, extracted from open-pit and underground mining operations.

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Disclosure: None. This article is originally published at Insider Monkey.