Fortuna targets deeper Lindero pit after gold hits

AI desk brief

Fortuna Mining is drilling below the planned bottom of its Lindero open pit in Argentina, with hole LDH-272 returning 350m at 0.96 g/t Au from surface, including 98m at 0.91 g/t below the pit design. A second hole, LDH-259, cut 236m at 0.85 g/t from surface, including 94m at 0.66 g/t below the pit design, both above the mine’s existing reserve grade of 0.54 g/t and potentially supportive of a revised pit and reserve estimate.

National Bank says Lindero accounts for 32% of its 2026 production forecast for Fortuna and 28% of NAV. Fortuna plans to update its geological model, pit design and reserve/resource estimate in Q1 next year; the mine had 1.1Moz of proven and probable reserves at end-2025 and guidance remains 92,000-102,000oz this year after nine-month output of 68,398oz.