Fortuna Mining Corp. announced it has executed a binding Heads of Agreement (HOA) with DeSoto Resources Limited, an Australian-listed gold exploration company, to establish an exploration alliance and joint venture. This partnership will focus on the highly prospective Siguiri Basin in Guinea, marking a strategic expansion of Fortuna's West African presence.
Paul Weedon, Senior Vice President of Exploration at Fortuna, stated that Guinea’s Siguiri Basin has demonstrated potential to host multi-million-ounce gold deposits and has a long mining history. This agreement provides Fortuna with an excellent entry into the region alongside an experienced team with a proven track record of discovery.
The exploration alliance aims to leverage DeSoto's expertise in West African exploration, including their founders' credit for the discovery of Predictive Discovery’s 5.4-million-ounce Bankan Gold Project. This strategic move diversifies Fortuna's exploration portfolio and positions it for potential new gold discoveries in a promising jurisdiction.
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