Fortune Nickel and Gold, a wholly-owned subsidiary of Here To Serve Holding, announced that it has acquired strategic lands in Ontario, in the general area where Canada Nickel has discovered several significant deposits of nickel and other metals.
In detail, the company acquired 75 unpatented mining claims comprising 15 sq. km and located approximately 29 km northwest of Crawford township. According to Fortune, back in 1965, three holes were drilled on the property and significant anomalies of nickel and gold were intersected.
“Drilling assessment reports from the Ministry of Northern Development and Mines has highlighted the presence of serpentinite-altered dunite-peridotite rocks with variable thickness (up to 36 metres) of fine disseminations of pentlandite-millerite-pyrite-magnetite, with grades ranging from 0.10% up to 0.30% nickel,” Fortune said in a media statement. “There has been no significant exploration on the property in the last 50-plus years. The property has enormous blue-sky potential for nickel, base-metal and gold opportunities with multiple, near-surface, drill-ready targets.”
In the miner’s view, this acquisition complements and supplements its Gowan nickel project, which is located about 21 km northeast of Timmins, Ont.
“As a result of our attentiveness to the actions of the federal reserve and their growing balance sheet of corporate high-yield debt and the threat of inflation in these uncertain times, we believe the best way to protect shareholder value from a falling dollar is to buy gold properties,” Paul Riss, Fortune’s CEO, said in the press release.
This story first appeared on www.MINING.com.