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Fortune Minerals Ltd T.FT

Alternate Symbol(s):  FTMDF

Fortune Minerals Limited is a mining company. It is engaged in the exploration and development of mineral properties in Canada. It is focused on developing the NICO Cobalt-Gold-Bismuth-Copper Project in the Northwest Territories and Alberta that produces a bulk concentrate for shipment to a refinery that it plans to construct in southern Canada. It also owns the satellite Sue-Dianne copper-silver-gold deposit located 25 kilometers (km) north of the NICO Deposit and is a potential future source of incremental mill feed to extend the life of the NICO mill and concentrator. It also maintains the right to repurchase the Arctos anthracite coal deposits in northwest British Columbia. It also has a 100% interest in these 116 hectares of property south of Great Slave Lake with copper, silver, gold, lead and zinc showings. It has a 1% net smelter royalty covering 78 hectares of land positioned in a former silver mining district, located south of the Eldorado mining district at Great Bear Lake.


TSX:FT - Post by User

Post by geolithon Aug 27, 2021 2:24pm
301 Views
Post# 33776577

refinery

refineryThere is arsenic in all of the gold mines in the NWT.  In some circumstances, gold is moleculary bound with the arsenopyrite, as at Giant, in in parts of the Con Mine.  Most of the gold ores developed in the NWT left the arsenopyrite as is, a relatively stable mineral that can be disposed of safely.  Con autoclaved some of their ores, which left an insoluble iron arsenate, similar to many modern operations around the world.  Giant started with the old technology of roasting the arsenopyrite, driving off a soluble and toxic arsenic trioxide which is the legacy left behind.

Most northerns can't distinguish between the various forms arsenic is found in, prefering to declare all of it bad.  Here lies the problem Nico faced.  Yes, Nico ores are quite enriched in arsenic, however they had proposed separating and concentrating the arsenic (and cobalt)-rich ores and then treating them with the modern autocaving technology that leaves a registerable non-hazardous waste product.  Couldn't sell it to people, including the "well" qualified reguators.  They heard the word arsenic and ran.  No way, not in the NWT.

Almost all modern refineries deal with contaminents, be they radioactive materials commonly found in REE deposits, to thallium and mercury found in base metal mines, and yes, arsenic found in gold mines.  There wouold be virtually no modern batteries without these refineries, and the NWT is missing the boat again by delaying acceptance of this.

However, other locations will accept these high-paying, environmentally sound modern jobs, and if one need go to Alberta, Saskatchewan, or Norway for this, so be it.  There are options. 
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