Fortuna Mining Corp (0QYM) has agreed an earn‑in with Qstone Inc to take up to a 70% stake in the Quartzstone Project, a 29,600‑hectare gold land package in the greenstone belt of north‑central Guyana, about 120 km west of Georgetown and 35 km northwest of G Mining’s Oko West project.
Under the deal Fortuna paid a non‑refundable US$5 million option premium on signing. It can earn an initial 51% by completing 60,000 metres of drilling within four years while paying licence fees and funding project expenditures; upon exercise it will form a joint venture with Qstone. Fortuna can then earn a further 19% (to 70% aggregate) by solely funding a feasibility study within three years of exercising the first option. The concession carries state royalties and a 4.5% NSR held by a prior owner, which may be repurchased at a price to be agreed.
Fortuna has budgeted an initial exploration programme of approximately US$5.5 million, including airborne magnetics, infill geochemistry, auger work and a planned 5,000‑metre diamond drill campaign to test historical targets along a 26 km shear zone. Historical work comprises 183 diamond holes (23,190m) with multiple high‑grade near‑surface intercepts.
“We are excited to establish a presence in the Guyana Shield, a highly prospective region with a strong history of gold discoveries,” Jorge A. Ganoza, President and CEO, said.
Fortuna’s Senior VP, Exploration, Paul Weedon, visited the project in June and verified historical assay certificates and independent core sampling, reporting no limitations to the verification.
