Fortuna completes Chesser Resources acquisition

Canadian producer Fortuna Silver Mines confirmed 20 September it had met completion of its takeover of Chesser Resources, which it said will boost its presence in a key region, West Africa.

The deal was first announced on 8 May. Following completion of the transaction, Chesser now is a wholly-owned subsidiary of Fortuna.

Among Fortuna’s new additions in the region: the preliminary economic assessment-stage Diamba Sud gold project in Senegal, a new and emerging gold discovery in the region.

“Chesser holds tenements in Senegal covering approximately 872 km2 of prospective ground located close to, and sharing similar geological features with nearby tier one gold mines. Diamba Sud is comprised of four open pittable high grade gold deposits, along with numerous anomalies yet to be tested. Fortuna will prioritize exploration to expand the mineral resource at Diamba Sud before advancing the project to the development stage,” the miner said.

President and CEO Jorge Ganoza called Senegal a “mining friendly and highly prospective jurisdiction” and said it was looking forward to its growth with the inclusion of Diamba Sud.

“We look forward to integrating [it] into our global portfolio, focusing on exploration to unlock value, and partnering with the local communities and stakeholders as we continue to advance the project,” he added.

Fortuna Silver Mines has five operating mines in Argentina, Burkina Faso, Côte d’Ivoire, Mexico, and Peru.

Source: Fortuna SIlver Mines

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