A 13-hole drilling program by Fortune Minerals (FT-T) at the Nico polymetallic deposit in the western Northwest Territories has succeeded in expanding the known mineralization in the deposit’s West Pit area.
The new drilling tested areas near the surface above known mineralization, and along the strike of the mineralization to the west. Some infill holes were also part of the program.
All the drill holes intersected cobalt-bismuth mineralization, including a 14.4-metre intersection in hole 03-277 that graded 0.24% cobalt and 0.11% bismuth, and two intersections in hole 03-284, one a 17.8-metre intersection that averaged 0.17% cobalt and 0.39% bismuth and the other a 9.7-metre intersection that ran 0.39% cobalt and 0.12% bismuth.
Previous drilling in the West Pit area had not revealed much gold mineralization, which Fortune is relying on to provide high-grade “core” resources in the Nico deposit. However, hole 03-269 intersected an 8.7-metre core length that graded 0.36% cobalt and 1.1 grams gold per tonne.
Metallurgical testing on Nico samples is under way and geotechnical, hydrogeological, and environmental baseline studies are in progress. Fortune expects to start a full feasibility study once it has the results of the metallurgical testing and new resource estimates from this field season’s drilling.
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