JAS and ALL
I am sure everyone is aware the Hawkeye property is immediately
adjacent to Fortune Minerals. Here is copy of a very interesting
release from Fortune to-day.
Attention Business Editors:
FORTUNE MINERALS ANNOUNCES FLOTATION TEST RESULTS ON ORES FROM THE
BOWL ZONE
LONDON, Ont., March 24 /CNW/ - Fortune Minerals Limited (CDN:FORM) is
pleased to report preliminary results of metallurgical testing of ores from
the Bowl Zone on the NICO Project located near the Snare Hydro-Electric
Complex, 160 km northwest of Yellowknife, NWT. Fortune recently announced a
Global drill indicated resource for the Bowl Zone on the NICO claims totalling
69.9 million tonnes, including a high grade resource of 41.6 million tonnes,
grading 0.834 grams of gold per tonne, 0.102% cobalt, 0.106% bismuth, 0.045%
copper, and 0.034% tungsten oxide. The Bowl Zone consists of several closely
stacked, gently dipping lenses amenable to low-cost open pit mining methods
and is fully open in all directions. The deposit is also located close to
power, winter and all-weather roads and a navigable inland water system
interconnected to rail roads and tide water.
Fortune has contracted Lakefield Research in order to conduct flotation,
cleaner flotation, gravity, cyanidation and hydrometallurgical tests on
composite drill intersections of different ore types from the Bowl Zone. The
head assays and percent recoveries of each ore metal in an 18 minute rougher
flotation concentrate are as follows:
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ORE TYPE HEAD ASSAYS AND % RECOVERY IN 18 min ROUGHER
FLOTATION CONCENTRATE
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COPPER COBALT BISMUTH GOLD TUNGSTEN
Cu % Co % Bi % Au g/t OXIDE WO(3) %
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Hole 4 (TYPICAL
Co-Bi ORE) 0.011 0.19 0.15 0.20 0.025
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% RECOVERY
18 MIN Ro CON 85.5 90.2 84.2 86.5 -
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Hole 9 less than
(Cu-W-RICH ORE) 0.51 0.02 0.013 0.12 0.112
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% RECOVERY 18 MIN
Ro CON 98.8 - 87.0 75.9 -
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Hole 13
(Co-Bi-RICH ORE) 0.006 0.24 0.23 0.05 0.040
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% RECOVERY 18 MIN
Ro CON 75.2 88.9 85.4 94.9 -
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Hole 14
(Au-RICH ORE) 0.028 0.06 0.027 5.15 0.015
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% RECOVERY 18 MIN
Ro CON 94.9 74.5 89.7 85.8 -
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Hole 30 (TYPICAL
Co-Au-Bi ORE) 0.021 0.11 0.024 1.03 0.006
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% RECOVERY 18 MIN
Ro CON 96.4 82.8 91.5 87.2 -
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Results of preliminary tests indicate that recoveries of all metals,
except tungsten are high using simple bulk flotation procedures. Bismuth
recoveries range between 84.2 and 91.5% in all composite drill hole
intersections. Copper and cobalt recoveries are high, up to 98.8% and 90.2%,
respectively when these metals are present in high concentrations in their
respective head grades. Recoveries are lower (74.5 to 96.4%) when the head
assays are correspondingly lower in each respective ore type and may be in
part attributed to analytical error with low head grade concentrations. Gold
recoveries are also high, particularly 85.8% in hole 14 where the head assay
grade is 5.15 grams per tonne and confirms particulate gold affinity with
sulphide minerals. Gravity separation tests will be carried out in order to
improve particulate gold recoveries and to recover tungsten, which is present
as an oxide mineral.
Cleaner flotation and hydrometallurgical tests are in progress in order
to improve the metal grades in concentrates and determine if the metals can be
separated chemically on site.
Fortune is pleased to report that re-assays of cobalt from hole 13 using
a different, quadruple acid digestion assay technique has resulted in
consistently higher cobalt grades, averaging 7.2% greater. Samples used to
calculate the Bowl Zone drill indicated resource estimates are now being
re-analysed using this new technique and the results will be reported when
received.
Specific gravity tests carried out by Lakefield Research on the various
drill hole composites indicate a tonnage-weighted average of 3.25 g/cm(3).
This is 3.17% greater than the 3.15 g/cm(3) used in the resource estimates and
indicates that the resources can be similarly increased by this percentage.
FORTUNE MINERALS LIMITED
Robin Goad, President.
Comments please!!
John
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