# FUN: Aircore Drilling Completed

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/fun-aircore-drilling-completed--b7f25938-9d10-45b9-87ff-0f262ace5259

Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03141946

Publisher: asx

Original announcement: 2026-09-21T22:21:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: 2026-09-21T23:02:17.477Z

Atlas analysis updated: 2026-09-21T23:02:17.477Z

- Company: Fortuna Metals

- Ticker: FUN

- Exchange: ASX

- Region: Malawi

- Primary commodity: Titanium

- Secondary commodities: Graphite, Rare earths

- Document categories: Drill results, Metallurgy

- Extracted: 2026-09-21 23:02:18 UTC

Narrative sentiment: 0.60 · Bullish

## Minestarters Atlas summary

Fortuna Metals has completed a 7,618m aircore drilling program at the Mkanda Project in Malawi, aimed at increasing resource potential at depth. Priority assay results are expected in November, and the company is also progressing with metallurgical testing and mineralogy reviews for rutile, graphite, and rare earths.

Reasoning: The completion of the aircore program is a significant milestone that provides a catalyst for resource expansion, though actual grade results are not yet available.

- Positive factor: completion of 7,618m aircore program

- Positive factor: potential to increase resource depth beyond 8m

- Positive factor: confirmed presence of monazite and xenotime

- Negative factor: assay results pending until November

Facts used in scoring: 2

## Classification and evidence

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: The release mentions QEMSCAN detailed mineralogy review and priority samples being expedited for analysis.

Evidence · text

> QEMSCAN detailed mineralogy review of 86 samples being sent to South Africa

**Mill Route**

Polarity: neutral

Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\).

Why it applies: the document describes a flotation route \("flotation"\)

**Gravity Route**

Polarity: neutral

Definition: Gravity separation forms a material part of the flowsheet.

Why it applies: the document describes a gravity route \("gravity"\)

**Single Domain Only**

Polarity: negative

Definition: Testing limited to one composite or domain — representativeness not established.

Why it applies: only one composite was tested

## Extracted facts

Stored fact records: 2. Some facts used in scoring do not have a stored record.

## Drill Results (1)

### Fact 1

[Link to this fact](https://atlas-staging.minestarters.com/news/fun-aircore-drilling-completed--b7f25938-9d10-45b9-87ff-0f262ace5259#fact-drill-facts-0)

Mkanda · titanium

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Mkanda
- Commodity: titanium
- Region: malawi
- Reported Region: malawi
- Ticker: FUN

#### Geometry

- Intercept: 7618 m

#### Classification

- Program: resource
- Sample Type: drill

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-21T00:00:00.000Z

Reasoning: Completion of a significant drilling program provides a catalyst for resource expansion.

- Positive factor: program completion

- Negative factor: results pending

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

## Metallurgical Results (1)

### Fact 1

[Link to this fact](https://atlas-staging.minestarters.com/news/fun-aircore-drilling-completed--b7f25938-9d10-45b9-87ff-0f262ace5259#fact-metallurgical-facts-1)

titanium

Historical result

Needs review: historical\_restatement

#### Identity

- Commodity: titanium
- Region: malawi
- Reported Region: Malawi
- Ticker: FUN

#### Test Work

- Sample: Mkanda Rutile Specifications \(historical bulk sample\)

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2026-07-26T00:00:00.000Z

#### Dates

- Event date: 2026-09-21T00:00:00.000Z

Reasoning: High-purity rutile concentrate reported from previous bulk sample work.

- Positive factor: high grade

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.