Fortune Bay expands Athona gold deposit in Saskatchewan

Fortune Bay (TSXV: FOR) has expanded the Athona gold deposit thanks to the results of phase one drilling. The deposit is part […]
The Aurora Borealis over the Goldfields property in northern Saskatchewan. Credit: Fortune Bay.

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The Aurora Borealis over the Goldfields property in northern Saskatchewan. Credit: Fortune Bay.

Fortune Bay (TSXV: FOR) has expanded the Athona gold deposit thanks to the results of phase one drilling. The deposit is part of the its 100%-owned, advanced Goldfields exploration project 15 km south of Uranium City, Sask.

Six diamond drill holes totaling 1,170 metres were drilled on a 50-metre spacing at the Athona South target. The assay results confirm that the mineralization extends to the south and remains open.

All six drill holes intersected mineralization at shallow depths, with highlights that included:

  • Hole A21-222: 1.04 g/t gold over 34.6 metres, including 16.7 g/t gold over 1 metre;
  • Hole A21-223: 1.22 g/t gold over 19 metres, including 8.18 g/t gold over 1 metre, and 7.8 g/t gold over 1 metre;
  • Hole A21-218: 3.8 g/t gold over 3 metres;
  • Hole A21-219: 1.09 g/t gold over 13 metres, and 1.12 g/t gold over 8 metres;
  • Hole A21-220: 1 g/t gold over 7 metres; and
  • Hole A21-221: 1.03 g/t gold over 10.9 metres.

The Goldfields project hosts the Box and Athona deposits, both of which Fortune Bay says can be mined using open pit techniques. The combined indicated resource includes 975,000 oz. of gold in 22.6 million tonnes averaging 1.34 g/t. Inferred resources contain 176,000 oz. of gold in 6 million tonnes averaging 0.92 g/t gold. The property produced 64,000 oz. of gold between 1939 and 1942.

Technical reports are available at www.FortuneBayCorp.com.

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