Fortune Minerals (FORM-C) has released encouraging drill results from its Nico property, 160 km west of Yellowknife, N.W.T.
In the latest program, 13 holes were drilled in the cobalt-bismuth-rich and gold-rich subzones of the property’s Bowl zone, where, previously, a resource of 69.9 million tonnes grading 0.07% bismuth, 0.07% cobalt, 0.07% copper, 0.03% tungsten oxide and 0.53 gram gold per tonne had been calculated. Results from 11 new holes reported by Fortune revealed intersections of multiple zones of mineralization over core lengths of 3 to 96.9 metres.
Cobalt grades varied from a few hundredths of a percent to 0.64%; bismuth values were comparable; and several of the intersections contained copper and tungsten credits. Most of the intervals also contained gold values, ranging from 0.6 to 16.46 grams.
The best results came from hole 70, which intersected 96.9 metres grading 2.22 grams gold, 0.64% cobalt and 0.15% bismuth, including several higher-grade zones.
Other significant results include: hole 66, which intersected 60 metres of 0.59 gram gold, 0.17% cobalt, 0.4% bismuth and 0.05% tungsten oxide, and within which are three higher-grade intervals; and hole 65, which yielded 54.7 metres averaging 2.16 grams gold, 0.08% cobalt, 0.06% bismuth, 0.03% copper and 0.13% tungsten oxide, including four intervals with higher grades.
Fortune says the new holes have extended the width of the cobalt-bismuth subzone. In addition, several holes drilled on sections 24 and 25 West extended the gold subzone 200 metres to the west. Gold grades in those holes ranged from nil to 2.17 grams, and include cobalt and bismuth credits. Most of the intervals also contained copper and tungsten credits.
Currently, Fortune is drilling 1.3 km east of the known limits of the Bowl zone in an attempt to test for a continuation of mineralization in that direction. The company is also testing the Sue-Dianne deposit, 20 km north of the Nico property.
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