Fortune Nickel and Gold identifies drill targets at Gowan near Timmins
Fortune Nickel and Gold Inc, a wholly owned subsidiary of Here To Serve Holding Corp., has completed the ground induced polarization (IP) and total magnetic survey on its 100% owned Gowan Project ("Project") in the prolific Timmins Mining Camp. The Project is located at the core of the Abitibi Greenstone Belt, which contains some of the world's largest deposits of gold, copper, zinc, nickel, and platinum-group metals.
The ground IP survey has identified two significant conductor anomalies. The first zone (Anomaly A) is potentially a copper-zinc volcanogenic massive sulphides (VMS) target at the southeast portion of the property, and a second zone (Anomaly B) consists of Crawford-style nickel-copper sulphides within the ultramafic rocks. The Project is unique in that the geology can host porphyry related gold deposits in addition to nickel and VMS deposits. Refer to Figure 1.
The most coherent conductor (Anomaly A) at the southern end of the survey line has a dimension of about 350m x 130m and characterized by high chargeability anomaly that is flanked on the south and north by zones of resistivity low and a resistivity high. The conductor zone appears to be near-surface, trends northeast and open along the strike. This area would be a priority target due to favorable geological setting associated with a regional splay fault, volcanic sediment contact on an anticline, as well as proximity to Falconbridge historic hole (G15-03) located about 200m south of Anomaly A which reported mineral occurrences of copper and zinc in drilling.
The second conductor (Anomaly B) has a weak chargeability response that increased at depth. This anomaly correlates well with a moderate to high magnetics and a modest resistivity high that lies between two narrow resistivity low zones. Refer to Figures 2-4. The moderate to strong magnetic anomaly, which is indicative of underlying ultramafic rocks was detected across all three survey lines that extends about 400m from west to east, and on same trend with the high-grade historic RC hole FH-68 with 3.5% Ni and 1.25% Cu on a near surface basal till sample. Fortune plans to immediately drill the priority targets after the approval of the drilling permits from the Ministry of Energy, Northern Development and Mines.
Paul Riss, Fortune's President, commented, "We are extremely pleased with the result of the survey in outlining the concentration of sulphides, silica alteration, and magnetic response of the rocks at our Project. The correlation to historic mineral occurrences has expanded our knowledge base on the geology and mineralization in the area. We are now in an excellent position to optimize our drill hole planning and as well as the execution of future field programs."
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