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Fortress Minerals Limited ( (SG:OAJ) ) has issued an announcement.
Fortress Mining has released a 2026 update to the Mineral Resource Estimate for its Bukit Besi Iron Project, prepared by independent consultancy Snowden Optiro in accordance with SGX Catalist Rules and the JORC Code. The report confirms the consultant’s independence, details extensive drilling completed since 2013, and outlines the geology, domaining and estimation methods applied across the West, Valley and East deposits.
The updated model uses ordinary kriging on tightly constrained domains, supported by substantial QAQC work, density testing and reconciliation against production, with drill spacing as close as 20m by 20m in key areas. While some historical concerns remain around RC sampling and downhole surveys, the open-pit nature of the operation and ongoing improvements in sampling and workflows are seen as mitigating factors, supporting the robustness of the resource model for mine planning and stakeholder confidence.
More about Fortress Minerals Limited
Fortress Mining Sdn. Bhd., part of Fortress Minerals’ group, operates in the iron ore mining industry with a focus on the Bukit Besi Iron Project in Malaysia. The company targets magnetite and hematite skarn mineralisation hosted near granite-sediment contacts, producing iron ore for regional steel and raw materials markets.
Average Trading Volume: 69,687
Technical Sentiment Signal: Buy
Current Market Cap: S$130.8M
See more insights into OAJ stock on TipRanks’ Stock Analysis page.