Mapping and sampling on Fortune Mineral’s (CDN) polymetallic NICO claim group northwest of Yellowknife, N.W.T., has yielded significant results.
Mapping traced the No. 1 zone for 300 metres along strike, and it remains open to the west where it is masked by overburden. Chip samples collected from this zone yielded values that included: 0.53% cobalt, 0.62% bismuth and 1.32 grams gold per tonne over 3 metres; 0.25% cobalt and 0.32% bismuth over 17 metres; and 0.19% cobalt, 0.03% bismuth and 0.35% copper over 5 metres. The No. 2 zone, situated 150 metres south of No. 1, was traced for 150 metres along strike. Results of chip sampling include: 1.74% cobalt, 0.75% bismuth, and 6.35 grams gold over 4 metres; plus 0.34% cobalt and 0.12% bismuth over 2 metres.
Two representative grab samples, collected from a 5-metre-wide zone discovered 100 metres north of the No. 1 zone, contained 1.1% and 0.65% cobalt, respectively. Numerous other cobalt and copper occurrences have been noted on the property.
The Geological Survey of Canada (GSC) released results of an airborne geophysical survey in part of the southern Great Bear Magmatic zone. The survey detected a large (greater-than-12-km) coincident magnetic and potassium anomaly centred over the NICO claims and near a previously detected gravity anomaly.
According to Sunil Gandhi, a scientist with the GSC, this is one of the strongest potassium anomalies ever detected by the GSC in more than 25 years of surveying. Gandhi says the low ratio of thorium over potassium indicates that the potassium enrichment was caused by extensive hydrothermal alteration. Both the GSC and Fortune have recognized intense potassium metasomatism and iron enrichment in rocks exposed on the NICO property. Gandhi believes the tectonic, geological and geophysical setting of the area around the NICO claims is similar to the Olympic Dam copper-uranium-gold deposit in Australia. “The potential for Olympic Dam-style mineralization, or a variant of it, is quite good,” Gandhi told The Northern Miner.
Be the first to comment on "Fortune encouraged at Yellowknife play"