Fortune Minerals Ltd T.FT

come again?

[uudamann]

https://stockhouse.com/news/press-releases/2021/03/17/fortune-minerals-announces-five-high-priority-drill-targets-east-of-nico

Fortune Minerals Announces Five High Priority Drill Targets East of NICO Deposit From Modelling Geophysics | 2021-03-17 | Press Releases | Stockhouse The east end of the NICO Deposit is currently defined by a fence of holes drilled in 1997 before the ore controls were well understood. Most of these holes were terminated short of the rock-type that hosts the known NICO Deposit. A fault has also been identified in this area that has likely ... stockhouse.com

 

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (“ Fortune ” or the “ Company ”) ( www.fortuneminerals.com ) is pleased to report that Aurora Geosciences Ltd. (“ Aurora ”) has completed three-dimensional (“ 3-D ”) modelling and interpretation of the data from last fall’s induced polarization (“ I.P .”) and ground magnetometer surveys carried out east of the NICO Cobalt-Gold-Bismuth-Copper Deposit (“ NICO Deposit ”) in Canada’s Northwest Territories. The geophysical interpretations were reconciled with the geology and previous drill-hole information, identifying five high priority targets for follow-up drilling this summer. The NICO Deposit and Fortune’s nearby Sue-Dianne Copper-Silver-Gold satellite deposit are Iron-Oxide-Copper-Gold-type (“ IOCG ”) deposits that have world class global analogues, including Olympic Dam in South Australia, the Carajas District deposits in Brazil and Candelaria deposits in Chile. Both, the NICO Deposit and the Sue-Dianne Deposit are open for potential expansion, and like other IOCG deposits globally, are associated with coincident strong magnetic, gravity, magnetotelluric, I.P. and radiometric geophysical anomalies.

 

Why would anybody buy the Revenue Silver mine when you have this in your back pocket?

[geolith]

Think very hard on this Uuda. Why would someone with a great deposit (in permitting at the time) acquire a different advanced project in a a different jurisdiction? Like Avalon moving back to lithium in Ontario, or Norzinc grabing New Brunswick assets, or Tyhee investing in New Mexico. Isn't it odd how every advanced junior in permitting seems to acquire or refocus on assets outside of the NWT

[uudamann]

Even if the IOCG was and remains a statistical long shot, FT had the resources for years to bring this forward. Any early drill successes would have driven the shares to the moon, giving FT access to almost unlimited funding to complete comprehensive drilling. It likely would have taken in the order of 10 years to examine the extensive land claims FT owns in a comprehensive manner. The IOCG

[geolith]

And yet history has shown that ALL developing juniors, some with the largest heavy rare earth deposit in North America, some with one of the richest silver zinc Mines, or the largest gold reserves in the NWT, or a new and advancing IOCG deposit, have left the jurisdiction during permitting. The question isn't why did Fortune look to Colorado, but why did EVERY junior in the permitting process

[AbuBaba]

You seem to know the anwer. Care to spill the beans?

[Jim1712]

This post has been removed in accordance with Community Policy

[red]

Yes We have put them behind us. On processing we have a couple of choices?  .....existing facility modified which means we have a proceesing partner....or new but also with a possible partner who may be in to recycling ? at moment seems to me going on our own processing is waning. But not impossible eother. we need news on processing to complete the road map of development 

[uudamann]

Your point is well taken Geolith. But I beg to differ. Management's recruitment of the Australian Olympic dam (AOD) as news release condiment strikes me as superficial, dare I say cavalier, in the presence of rather skeletal drill information. The Australian IOCG is not any rich mine. It is a monster. I think, fairly assessed, management's handling of this comparative under the

[geolith]

technically, there are many similarities between Nico and the Olymlic Dam deposit. This has been pointed out by many independent geologists and presented in numerous peer reviewed journals. Fortune recognized this very early on.

[uudamann]

You are correct Geolith about the geology and its previous assessments. We can hope there is strategy by FT management that is more about protecting the asset from potentail hostile intents until such time it can move forward.