(Image via Fortune Bay Corp.)
Fresh off the news that gold prices touched a record-breaking $2,000 an ounce (USD) 0n Tuesday, gold-focused exploration, and development company
Fortune Bay Corp. (TSX-V: FOR) revealed its plans for the second half of 2020, focused on advancing the Goldfields Project located in northern Saskatchewan.
The agenda includes: Mineral resource modelling and estimation before the end of Q1 2021, as well as resource expansion and exploration drill planning, along with project development review and planning to identify opportunities, risks and any potential data gaps in preparation for a future updated pre-feasibility study.
The review will aim to identify focus areas for project optimization, that are envisaged to include various trade-off studies, and the development of a project development work plan and schedule for 2021.
“We are pleased to commence the process of advancing the Goldfields Project. We have a unique opportunity to build value at Goldfields through further exploration and development work during an exciting time in the gold market. The Company is well poised to execute on its work plans with a strong technical team supported by management and our experienced Board.” - Fortune Bay Corp. Chief Executive Officer, Dale Verran.
To find out more about this project and FOR’s plans, click
here.
The company’s most advanced asset, the Goldfields Project in Saskatchewan is situated approximately 13 kilometres from Uranium City. A historical Pre-Feasibility Study was completed in October 2011 in accordance with NI 43-101.
Its Box and Athona gold deposits, located two kilometres apart, possess estimated gold recoveries of 91% and 89% respectively, processed at a shared mill facility with a capacity of 5,000 tonnes per day.