Fortuna Silver Mines acquired the Bambadji gold exploration project in Senegal for $200 million in cash. The company purchased the asset from subsidiaries of Barrick Gold and IAMGOLD.
The deal adds 190 square kilometers of land adjacent to Fortuna’s existing Diamba Sud Gold Project. This consolidation creates a 60-kilometer continuous stretch along the Senegal-Mali Shear Zone.
The acquisition includes a historical dataset containing approximately 214,000 meters of prior drilling. Fortuna authorized an $8 million exploration budget for the remainder of 2026. Drilling is scheduled to begin in the third quarter to evaluate eight priority targets.