Fortuna Metals Strengthens Marketing and Drilling at Mkanda Rutile Project

Marketing Expertise Added at a Critical Juncture

Fortuna Metals Limited (ASX:FUN) has bolstered its technical and commercial team with the appointment of Ian Hind, a mineral sands marketing specialist with over 20 years’ experience. Hind’s background includes senior marketing roles at Iluka Resources, Kimberley Mineral Sands, and Strandline Resources, giving Fortuna a seasoned hand to develop and execute its marketing strategy for the Mkanda and Kampini projects in Malawi.

CEO Tom Langley emphasised the timing of the hire, describing it as pivotal as Fortuna moves towards a maiden resource estimate and metallurgical testwork results expected in the coming months. Hind’s expertise in offtake negotiations and logistics, including vessel chartering and warehousing, is seen as essential to positioning the company for commercial success.

Drilling Accelerates Resource Definition Efforts

Following a substantial 675-hole reconnaissance drill campaign in late 2025, Fortuna has commenced hand auger infill drilling on a tighter 200 x 200m grid targeting high-grade rutile cores that now extend over 28km² within a broader 53km² anomaly area. This latest phase aims to refine the resource footprint ahead of aircore drilling planned to start mid-June, which will test rutile mineralisation down to approximately 20 metres, reaching the saprock boundary and potentially unlocking significant depth extensions.

This drilling strategy is critical to understanding the full resource potential and improving project economics by targeting free-dig mineralisation zones. The hand auger results have revealed encouraging grades up to 2.5% rutile, with the deposit’s geometry and mineralisation style showing strong parallels to the nearby world-class Kasiya rutile deposit operated by Sovereign Metals Limited (ASX:SVM), just 20km north. Mkanda’s geological setting on the Lilongwe Plain weathered gneiss mirrors that of Kasiya, which hosts the world’s second largest flake graphite and a major rutile deposit.

Fortuna’s ongoing drilling programs build on the recent expansion of the rutile footprint from 37km² to 53km², with a high-grade core of 28km² now firmly delineated, as detailed in the company’s April update. The hand auger and aircore drilling campaigns planned for 2026 are designed to underpin a maiden resource estimate and support feasibility studies, with graphite assays also expected to contribute to the project’s economic profile given the significant by-product potential.

Strategic Location and Infrastructure Advantages

The Mkanda and Kampini projects cover 658km² in Malawi’s central region, benefiting from proximity to key infrastructure including the capital Lilongwe (20km away), rail access to the Nacala corridor (25km), and high-capacity power lines (15km). This logistical setup is a notable advantage for future development and processing operations, especially given the company’s plans to establish a low-cost in-country laboratory to accelerate sample preparation and assay turnaround.

Fortuna’s multi-commodity focus includes rare earths and graphite alongside rutile, reflecting the strategic importance of these minerals. The nearby Kasiya project has recently yielded strategic heavy rare earth recoveries, underscoring the potential value uplift from these co-products. This aligns with global trends where titanium and critical minerals are increasingly sought after for advanced manufacturing and emerging technologies.

Rutile’s Growing Role in Advanced Technologies

Rutile, the highest-grade natural titanium feedstock, commands prices around US$1,100 to US$1,700 per tonne and is critical for titanium metal and pigment production. Its lightweight strength and durability make it increasingly vital in robotics and industrial automation, sectors expected to drive demand growth. Market forecasts project the titanium metal market to nearly double from US$30 billion in 2025 to US$54 billion by 2034, at a compound annual growth rate of 6.5%.

Fortuna’s efforts to define and develop its rutile resources come at a time when traditional rutile deposits are depleting, and supply is tightening globally. The company’s strategy to combine resource growth with metallurgical testing and marketing expertise aims to position the Mkanda and Kampini projects as competitive suppliers in this evolving market.

CEO Tom Langley’s attendance at the London 121 Conference in May further signals Fortuna’s intent to engage with global investors and potential offtake partners as it advances these critical milestones.