Having announced significant assay results from its NICO claim group near Yellowknife, N.W.T., Fortune Minerals (CDN) is entertaining several joint-venture proposals.
Last fall, sampling from eight surface showings on the NICO claims returned up to 3.96% cobalt, 2.06% bismuth and 0.35% copper, as well as 6.35 grams gold per tonne. The surface showings are coincident with a large gravity anomaly and with large, airborne potassium, magnetic and uranium anomalies. (These were detected in a recent survey by the Geological Survey of Canada.) Fortune believes the geological setting and style of mineralization bear a resemblance to the 2-billion-tonne Olympic Dam copper-gold-silver-uranium deposit in Australia.
So far, Fortune has received four written offers from junior and senior companies interested in joint-venturing the NICO and nearby JBG claims. Negotiations are ongoing.
Fortune is also negotiating a deal on its 50%-owned Lac La Martre diamond project in the Northwest Territories, and several companies have expressed interest in Fortune’s wholly owned Nonacho Lake copper-silver-gold-fluorite property, also in the Territories.
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