Major Drilling Campaign Delivers Strong Progress
The drilling campaign progress at Fortuna Metals continues to accelerate, with the exploration team having completed 208 hand auger drill holes with an average depth of 8.5 metres across the Mkanda Project area. The drilling program focuses on areas within 11km of existing rail infrastructure, providing exceptional logistics advantages for future development.
Key Drilling Statistics:
| Metric | Achievement |
|---|---|
| Total drill holes completed | 208 |
| Average drill depth | 8.5 metres |
| Project area coverage | 658km² |
| Distance to rail (northern boundary) | 11km |
| Distance to capital city Lilongwe | 20km |
The company expects soil sample assays in late November 2025, followed by hand auger assay results from mid-December 2025. Advanced XRD and QEMSCAN mineralogy analysis is underway at ALS Perth to determine rutile content in heavy mineral concentrates.
CEO Commentary:
"I am extremely pleased with the in-country team in Malawi who continue to complete the planned exploration drilling programs diligently and safely. The hand auger drilling is proving to be a low cost and quick drilling method that allows us to test large areas that will help demonstrate the widespread rutile potential within our 658km² Mkanda and Kampini projects." – Tom Langley, CEO
Understanding Rutile: The Critical Mineral Driving Value
Rutile is a naturally occurring titanium dioxide mineral that serves as the primary feedstock for titanium metal production and high-grade titanium dioxide pigments. Unlike traditional placer deposits formed by water transport, Fortuna's projects target residual placer or eluvial deposits where rutile concentrates in-place through weathering processes.
Why Rutile Matters to Investors:
- Essential for aerospace, defence, and medical applications requiring lightweight, corrosion-resistant materials
- Growing demand from renewable energy infrastructure and advanced manufacturing
- Limited global supply sources, with Malawi emerging as a major new province
- Higher-grade deposits like those at nearby Kasiya command premium valuations
The enrichment process occurs through tropical weathering that depletes mobile minerals from the top 5-10 metres, concentrating heavy minerals including rutile through significant volume loss. This weathering process during the Tertiary period created economic mineralisation by removing physically and chemically mobile minerals whilst leaving heavy minerals concentrated in place.
Strategic Infrastructure Advantages Drive Project Economics
Fortuna's Malawi projects benefit from exceptional infrastructure positioning that significantly enhances development potential. Furthermore, the drilling campaign progress at Fortuna Metals has been strategically focused on areas with optimal access to existing infrastructure networks.
Infrastructure Proximity Table:
| Infrastructure | Distance | Advantage |
|---|---|---|
| Rail access | 11-25km | Low transport costs to ports |
| Capital city Lilongwe | 20km | Access to services and workforce |
| High-capacity power lines | 15km | Reliable energy supply |
| Fresh water sources | On-site | Essential for processing operations |
The company plans to establish a low-cost in-country laboratory for initial sample preparation, including heavy mineral separation, magnetic separation, and XRF analysis. This approach will accelerate results turnaround whilst reducing exploration costs.
Proven Geological Province with World-Class Potential
Fortuna's projects cover the majority of the 70km strike extent of the same Lilongwe Plain weathered gneiss that hosts Sovereign Metals' Kasiya deposit – the world's largest rutile and second-largest flake graphite resource. However, the drilling campaign progress at Fortuna Metals demonstrates systematic coverage across this extensive geological target.
Kasiya Resource Benchmark:
- 1,200Mt @ 1.0% TiOâ‚‚ and 1.5% TGC (total resource)
- 609Mt @ 0.9% TiOâ‚‚ and 1.1% TGC (at 0.7% cut-off)
- Established using 400m drill spacing for inferred resource estimation
Fortuna's dual drilling strategy employs both 800m reconnaissance spacing and 400m infill drilling in promising areas, matching the density requirements for resource estimation established at Kasiya. The 400m drill spacing meets the required density for inferred resource estimation, providing a clear pathway to resource definition.
Upcoming Catalysts Position Company for Discovery
The exploration program accelerates through year-end with multiple value catalysts approaching. In addition, the drilling campaign progress at Fortuna Metals has created a robust pipeline of upcoming results and analysis.
Near-term Milestones:
- Late November 2025: First soil sample assay results
- Mid-December 2025: Initial hand auger drill assay results
- Late Q4 2025: XRD and QEMSCAN rutile content analysis
- Q1 2026: Comprehensive assay results from 2025 drilling program
- April-May 2026: Aircore drilling program to test deeper saprock boundary
The transition to Aircore drilling represents a critical next phase, enabling penetration past the perched water table to the 20-30 metre saprock boundary where Kasiya demonstrates its highest-grade mineralisation. The hand auger drilling averages 8.5m depth due to the perched water table, where sample quality declines once drilling reaches the water table.
Investment Thesis: Positioned for Major Rutile Discovery
Fortuna Metals presents compelling investment potential through its strategic position in Malawi's emerging rutile province. The company holds extensive tenure over the same geological setting that hosts the world's largest rutile deposit, with superior infrastructure access and a systematic exploration approach designed to unlock resource potential.
Key Investment Drivers:
| Factor | Advantage |
|---|---|
| Geological Potential | Same host rocks as world's largest rutile deposit |
| Scale Advantage | 70km of prospective strike length |
| Infrastructure | 11km to rail, 20km to capital city |
| Exploration Method | Proven low-cost hand auger approach |
| Management Team | In-country expertise with strong safety record |
The company's low-cost exploration methodology allows extensive testing across large areas, maximising discovery potential whilst maintaining capital efficiency. Furthermore, the proximity to proven infrastructure reduces potential development costs and timeline risks associated with remote mining projects.
Technical Approach Validates Resource Potential
Fortuna's systematic exploration approach targets the same weathered gneiss formation that hosts Sovereign Metals' world-class Kasiya deposit. The high-grade rutile deposit at Kasiya is classified as a residual placer or eluvial heavy mineral deposit, where enrichment occurs through in-place weathering rather than high-energy transport processes typical of traditional placers.
The enrichment mechanism involves tropical weathering that depletes mobile minerals from the upper 5-10 metres of the geological profile. This process causes significant volume loss whilst concurrently concentrating heavy minerals including rutile. Consequently, the Aircore drilling program planned for April-May 2026 will be essential for testing mineralisation at the critical saprock boundary depth where Kasiya shows optimal grade continuity.
What Makes the Drilling Campaign So Significant?
The current drilling campaign progress at Fortuna Metals represents more than just routine exploration – it marks a systematic approach to unlocking one of the world's most promising rutile territories. The 208 completed drill holes provide comprehensive coverage across the Mkanda Project area, with each hole averaging 8.5 metres depth to maximise data collection within cost constraints.
Moreover, the hand auger drilling methodology has proven particularly effective in Malawi's geological conditions. The approach allows rapid testing of large areas whilst maintaining sample quality above the perched water table. This methodology enables cost-effective reconnaissance whilst building a robust database for future resource estimation.
Why Smart Investors Are Watching Fortuna Metals
Fortuna Metals has positioned itself as the key exploration play in Malawi's world-class rutile province, with 658km² of prime territory, systematic drilling progress, and imminent catalyst events. The combination of proven geology, exceptional infrastructure, and experienced management creates a compelling opportunity for investors seeking exposure to critical minerals discovery.
With assay results expected from late November 2025 and a clear progression to deeper Aircore drilling in 2026, Fortuna represents a strategic opportunity to gain exposure to potential rutile discovery in one of the world's most promising mineral provinces. The company's holdings extend along the majority of the 70km strike length of the same geological formation that hosts the world's largest rutile deposit, providing significant exploration upside potential.
Key Takeaway:
Fortuna Metals controls the majority of prospective geology extending 70km south from the world's largest rutile deposit, with 208 drill holes completed and critical assay results expected within weeks. The company's strategic position in Malawi's emerging mineral province, combined with superior infrastructure access and proven exploration methodology, positions it for potential major discovery in this under-explored territory.
The systematic drilling campaign continues through year-end with multiple catalyst events approaching. Fortuna's dual strategy of reconnaissance and infill drilling, combined with the planned transition to Aircore drilling in 2026, provides a clear pathway to resource definition in this world-class rutile province.
Could Fortuna Metals Be Your Next Strategic Investment Opportunity?
With 208 drill holes completed across world-class rutile territory and critical assay results expected from late November, Fortuna Metals presents a compelling opportunity for investors seeking exposure to Malawi's emerging mineral province. The company's systematic exploration approach across 658km² of prime geology, combined with exceptional infrastructure access just 11km from rail and 20km from Lilongwe, positions it strategically within the same geological formation that hosts the world's largest rutile deposit. To explore how Fortuna's comprehensive drilling campaign and upcoming catalyst events could fit into your investment portfolio, discover more about the company and its Malawi projects here.
