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The latest announcement is out from Frontier Resources Limited ( (AU:FUN) ).
Fortuna Metals has reported further strong drilling results from its Mkanda rutile and graphite project in Malawi, expanding the mapped footprint of rutile mineralisation from 37 square kilometres to 53 square kilometres, including a higher-grade core of 28 square kilometres. New high-grade zones, including a central prospect extending about five kilometres by one kilometre and extensions at the Mbale prospect, reinforce the scale of near-surface rutile, with peak grades above 2.5% and most shallow samples exceeding the company’s cutoff grade.
The company has completed 675 drill holes on broad spacing and is accelerating its work program with 650 additional hand auger holes and more than 5,000 metres of aircore drilling set to start in the current quarter to test depth and refine targets. Assay results from a large backlog of holes will feed into a maiden inferred resource estimate planned for the second half of 2026, while upcoming graphite assays are expected to enhance the project’s economic appeal and strategic positioning in the critical minerals sector.
More about Frontier Resources Limited
Fortuna Metals Limited is an Australian Securities Exchange-listed explorer focused on rutile and graphite resources at its Mkanda Project in Malawi, Africa. The company is targeting large-scale, near-surface mineralisation with an emphasis on defining high-grade zones that could support a globally significant critical minerals resource for industrial and battery-related markets.
YTD Price Performance: 9.76%
Average Trading Volume: 461,270
Technical Sentiment Signal: Sell
Current Market Cap: A$25.51M
Find detailed analytics on FUN stock on TipRanks’ Stock Analysis page.