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Gold/Mining/Energy : Fortune Minerals Limited (TSE - FT)
FT 8.140+0.2%Jan 15 4:00 PM EST
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To: Richnorth who wrote (481)10/29/2000 8:08:05 AM
From: Dave R. Webb  Read Replies (1) of 612
 
Richnorth

This is getting to be too predictable. Predictable in that you and I are the only posters, with Farmboy saying something nasty every once and a while.

Also, too predictable in that Fortune continues to put out good numbers. The latest drilling targeted by their consultants have resulted in:

1) near-surface expansion of the deposit in order to reduce waste rock stripping,
2) lateral expansion of the gold-rich, central core of the deposit along the projection of dip, and
3) verification of the continuity and evenness of grade in order to minimize internal dilution.

The most recent drill hole results include high-grade intersections of .43% cobalt and 1g/t gold over a 10.6m true width in hole –249, .24% cobalt and .29% bismuth over a 23.4m true width in hole –250, and .23% cobalt and 3.6g/t gold over a 15.9m true width in hole –252.

These are really nice-looking drillholes. We're told that they're infill holes, or near to previous holes that had fairly good results, so it is not entirely unexpected. It should give Fortune's consultants some numbers to work with. Hopefully in a few months we'll see some grade and tonnage numbers for a minable resource, that will include some estimates on:

various tonnes and grades
strip ratios
extraction / dilution
recovery

Things are progressing well.

Dave
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