Fortuna Metals Uncovers Large High-Grade Rutile Anomalies at Malawi Mkanda Project

Exploration Breakthrough at Mkanda and Kampini

Fortuna Metals Limited (ASX, FUN) has announced outstanding results from its Phase 1 soil sampling program across the Mkanda and Kampini rutile projects in Malawi. The reconnaissance soil sampling has delineated multiple high-tenor rutile anomalies spanning approximately 52 square kilometres at Mkanda, with grades reaching as high as 2.32% rutile. These results are particularly significant given their spatial extent, with some anomalies exceeding 2.4 kilometres in strike and width, drawing a strong parallel to Sovereign Metals’ Kasiya discovery; the world’s largest rutile deposit.

Drilling Progress and Next Steps

To date, Fortuna has completed 309 hand auger drillholes at Mkanda and 28 at Kampini, targeting shallow depths of around 8 to 10 metres. Assay results from these drillholes are expected starting mid-December 2025, with further results anticipated throughout the first quarter of 2026. Recognising the limitations of shallow drilling due to perched water tables, Fortuna plans to deploy Aircore drilling in the dry season (April/May 2026) to reach the saprock boundary at depths of 20 to 30 metres. This deeper drilling is critical to accurately estimate the resource size and improve project economics.

Geological Context and Infrastructure Advantage

The Mkanda and Kampini projects cover a combined area of 658 square kilometres, situated immediately south of Sovereign Metals’ Kasiya project. Both projects share the same weathered gneiss geological formation known to host rutile and graphite mineralisation. Fortuna’s CEO, Tom Langley, highlighted the similarity to Kasiya’s residual placer rutile deposit, which formed through tropical weathering processes concentrating heavy minerals in place. The projects benefit from excellent infrastructure, being only 20 kilometres from Malawi’s capital Lilongwe, close to rail access, power lines, and abundant fresh water, positioning them well for future development.

Outlook and Market Implications

Fortuna Metals is advancing rapidly with its exploration programs, aiming to define a maiden rutile resource by the second half of 2026. Given the scale and grade of the anomalies identified, the Mkanda project has the potential to become a significant new source of rutile, a critical mineral used in pigments and titanium metal production. The company’s methodical approach, including systematic soil sampling, hand auger drilling, and planned Aircore drilling, reflects a disciplined strategy to unlock value in a promising African mineral province.