FABER LAKE, Northwest Territories There is good news from continued drilling at FORTUNE MINERALS' NICO deposit 160 km northwest of Yellowknife. The deposit is being tested for its copper and bismuth content as well as gold. High-grade results from the West Pit area include 3.21 g/t Au and 0.89% Co over 1 metre, 2.93% Co and 0.28% Bi over 0.87 metre, 1.4% Bi and 0.11% Co over 4 metres, 0.92% and 0.16% Bi over 2.54 metres, 0.4% Co and 0.44% Bi over 5 metres, and 0.43% Co and 0.44% Bi over 4 metres. Large, lower grade intersections were also drilled.
The scoping study for the NICO project envisions development of an underground mine and adjacent East and West pits. Underground resources are estimated to be 7.0 million tonnes grading 2.58 g/t Au, 0.16% Co and 0.22% Bi. Resources available in the pits are about 9.3 million tonnes at 0.35 g/t Au, 0.11% Co and 0.12% Bi. Ore would be milled conventionally on site to produce gold-cobalt and gold-bismuth flotation concentrates.
Fortune Minerals is also investigating the Mount Klappan anthracite coal project in northwestern British Columbia. Complete information on both projects is available at www.fortuneminerals.com.