Fortuna Mining acquires Bambadji gold project in Senegal
The US$200 million deal expands Fortuna’s exploration footprint around its Diamba Sud Gold Project in one of West Africa’s key gold districts
Fortuna Mining has acquired the Bambadji advanced gold exploration project in Senegal from Barrick and IAMGOLD, expanding its exploration footprint around its feasibility-stage Diamba Sud Gold Project.
Located next to Diamba Sud, Bambadji covers about 60 kilometres of prospective strike along the Senegal-Mali Shear Zone, a major gold corridor that hosts several large-scale mines.
Fortuna said the acquisition gives it access to a large exploration area with several drill-defined targets and a substantial historical exploration database.
“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.
“The US$200 million consideration paid for the project reflects multiple prime drill-defined targets, the scale of the land package, the extensive historical exploration dataset, and the potential to materially expand Diamba Sud in one of the most prospective gold districts in West Africa, where quality ground is difficult to assemble,” said Jorge A. Ganoza, President and CEO of Fortuna.
The acquisition includes geochemical, geophysical and lithological data, as well as about 214,000 metres of historical auger, reverse circulation and diamond drilling.
Fortuna has also approved an initial US$8 million exploration budget for Bambadji for the remainder of 2026.
The programme includes 51,000 metres of reverse circulation and diamond drilling, with drilling expected to begin in the third quarter.
The company said the work will focus on testing existing targets and improving its understanding of the mineralisation across the project area.
