Fortuna Silver Mines Inc. confirmed that it has completed the previously announced acquisition of Chesser Resources Ltd. in an all-equity transaction that gives Chesser shareholders a 5.1% stake in Fortuna. The acquisition of Chesser expands Fortuna’s presence in West Africa to include 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 87,200 hectares of prospective ground located close to, and sharing similar geological features with nearby tier one gold mines. Diamba Sud is comprised of four open-pit mineable, high-grade gold deposits, along with numerous anomalies yet to be tested. Fortuna said it will prioritize exploration to expand the mineral resource at Diamba Sud before advancing the project to the development stage.
“Senegal is a mining friendly and highly prospective jurisdiction, and we are excited about the growth potential that Chesser’s Diamba Sud gold project provides,” said Jorge Ganoza, president and CEO of Fortuna. “We look forward to integrating Diamba Sud 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.”
Fortuna Silver Mines Inc. is a Canadian precious metals mining company with five operating mines in Argentina, Burkina Faso, Cote d’Ivoire, Mexico, and Peru.