Canadian Mining Journal

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GOLD EXPLORATION NEWS High Grades Drilled at NICO Deposit

GREAT SLAVE LAKE, Northwest Territories FORTUNE MINERALS of London, Ont., is reporting more high-grade results fr...


GREAT SLAVE LAKE, Northwest Territories FORTUNE MINERALS of London, Ont., is reporting more high-grade results from the central part of the NICO deposit, 160 km northwest of Yellowknife. Highlights from the eight latest holes include 8.04 g/t Au, 0.26% Co and 0.18% Bi over 7.1 metres; 12.48 g/t Au and 0.16% Bi over 7.5 metres; 8.01 g/t Au, 0.12% Co and 0.43% Bi over 6 metres; and 3.36 g/t Au and 0.15% Co over 10.1 metres. Each of the four separate holes returned one-metre sections with grades of between 16.1 g/t and 29.9 g/t Au.

Results of recent drilling have extended the NICO deposit and encountered grades higher than the deposit average in a recent scoping study. The study indicated that the deposit could be mined profitably using both open pit and underground methods followed by conventional crushing, grinding and flotation to produce gold-cobalt and gold-bismuth concentrates.

Complete drilling results and more information about the NICO project are available at www.fortuneminerals.com.


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