Fortuna Metals (ASX:FUN) announced a maiden Inferred Mineral Resource Estimate for its Mkanda project in Malawi. The discovery establishes the site as a top-six global rutile deposit.
The resource totals 298 million tonnes at 0.87% rutile and 1.19% total graphitic carbon (TGC). This includes a high-grade core of 159 million tonnes at 0.98% rutile. The estimate also contains 3.55 million tonnes of graphite.
The resource remains open for expansion. Deeper drilling is currently underway to explore further potential.