Fortuna boosts gold projects in Senegal with US$200 million deal

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Workers work on a site of the Tongon gold mine operated by South African company on October 24, 2011 in Tongon, northern Ivory Coast.Fortuna has been reshaping its West African portfolio toward Senegal and Ivory Coast after selling its Yaramoko mine in Burkina Faso. Photo by AFP PHOTO/ISSOUF SANOGO

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Bambadji is adjacent to the company’s Diamba Sud project, giving Fortuna about 60 kilometres of potentially gold-bearing ground.

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“Bambadji represents a rare opportunity to consolidate a large-scale, highly prospective exploration land package immediately adjacent to our feasibility-stage Diamba Sud Gold Project,” Fortuna chief executive Jorge Ganoza said in a statement.

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Fortuna plans to spend US$8 million on exploration at Bambadji through the end of 2026 and expects to start drilling in the third quarter, according to the statement.

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Vancouver-based Fortuna has been reshaping its West African portfolio toward Senegal and Ivory Coast after selling its Yaramoko mine in Burkina Faso for about US$130 million last year.

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