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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

Comment by geolithon Apr 20, 2022 4:00pm
110 Views
Post# 34617822

RE:RE:RE:RE:News

RE:RE:RE:RE:NewsAnd back in the early, or even pre-Nico days the property had been staked as the Bico (bismuth cobalt) on the basis of a very narrow (<2m) quartz-rick structure that cross-cut a very short distance in what is now part of the planned pit.  Noranda had placed a number of drill holes into it, not recognizing the potential outside of the small structure.

So, the point is the Peanut drill results are positive even if they are small.  Basically, they are identical to what started Fortune Minerals here.  These are very good.  Maybe not an orebody in and of itself, it speaks of potential.

The real big news is that the geophysical modeling said Fortune should drill across the fault at this location.  They did, and they got some serious encouragement.  Again, maybe this will not be an orebody, but the point is it says they know how to find more.
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