Fortuna Metals Ltd (ASX:FUN, OTC:FRTMF) has reported further high-grade rutile intersections from first-pass drilling at its Mkanda rutile and graphite project in Malawi, with results confirming widespread mineralisation across multiple large anomalies.
Assays from 40 drillholes and 180 shallow 0–2 metre composite samples have returned several strong intercepts, including 8m at 1.15% rutile, 10m at 0.89% rutile and 10m at 0.83% rutile, with many holes remaining open at depth.
Peak results from the shallow sampling include 1.74%, 1.53%, 1.40%, 1.37% and 1.35% rutile, with about 85% of samples grading above the project’s cut-off grade, indicating extensive mineralisation across the project area.
Large high-grade cores identified within broader rutile anomalies
Drilling has now defined high-grade rutile cores covering about 17.8 square kilometres, located within broader anomalies spanning roughly 37 square kilometres at Mkanda.
The program forms part of a wide reconnaissance campaign designed to identify zones of strongest mineralisation ahead of resource drilling.
Fortuna chief executive officer Tom Langley said the results demonstrate the scale of the emerging mineralised system.
“These drill results include exceptional rutile intersections and demonstrates large areas of high-grade rutile across multiple areas at our Mkanda project. These drilling results are the first reconnaissance drilling completed at Mkanda and with a further 485 drillholes to be selectively sent for analysis, there remains significant potential to further expand the rutile mineralisation discovered to date.
“The results on their own provide a strong basis for a large, inferred resource estimate in the second half of this year and with major drilling programs planned for 2026, we look forward to updating the market with a consistent flow of rutile, graphite and rare earths results throughout 2026.”
Fortuna has completed 675 drillholes across roughly 180 square kilometres of the Mkanda project on nominal 800m and 400m spacing, with further drilling planned to test the continuity of mineralisation between identified anomalies.
A further 485 full-hole assays and 321 shallow sample assays are still pending. The results will help determine which holes are prioritised for full analysis and assist with planning 200m by 200m resource drilling scheduled for Q2 2026.
The company expects the selective assaying approach to accelerate turnaround times and support a maiden inferred resource estimate in the second half of 2026.
Additional step-out, infill and deeper drilling programs are planned across 2026, while graphite assays from Mkanda are expected during Q2–Q3 2026, which the company believes could provide an additional economic component to the project.