NORTHWEST TERRITORIES – FORTUNE MINERALS of Toronto has completed the second phase of underground test mining at its NICO cobalt-gold-bismuth project 160 km northwest of Yellowknife. Fortune is the 100% owner of the project now that it has bought out 8% partner Candou Industries. About 75 tonnes of ore was mined from the gold-rich, higher-grade lower parts of the deposit.
These 75 tonnes of ore and the 200 tonnes collected in the first phase will be used in a six-month-long, large-scale pilot plant test beginning in October at SGS LAKEFIELD RESEARCH in Lakefield, Ont.
Fortune is also making preparations to move the Golden Giant mill, surface facilities, equipment and spare parts inventory from Hemlo, Ont., to the NICO site.
Highlights of the NICO bankable feasibility study are available at www.FortuneMinerals.com.