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Wednesday, October 28, 2009
Gold Juniors: Fortress Intercepts 100.8 Metres Grading 2.58 g/t Gold Including 41.0 m Grading 5.57 g/t Gold at the Tamara Prospect FST.v, LUN.to, GDX
Posted by andre at 1:50 PM
Lukas Lundin continues his quest for Gold in Far Eastern Russia with Kinross Gold and GazpromBank as his partners.
"Lukas Lundin and gold above 1000 USD/oz is a powerful combination even if it is in Russia. Kinross Gold is a partner with GazpromBank on Russian side, Kinross operates Kupol Gold mine in Russia, so they must know all the tricks to stay afloat there. Discount for juniors and Russia will be gone with fresh investors' rush for gold, deposit hopefully will stay and grow."
"VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 28, 2009) - Fortress Minerals Corp. ("Fortress") (TSX VENTURE:FST - News) is pleased to announce final results from the 2009 trenching program at the Svetloye Project, Russia. Trench PDTR-T7 from the Tamara prospect encountered 100.8 metres (from 39.2 to 140.0 metres) grading 2.58 grams per tonne (g/t) gold including 41.0 metres (from 58.0 to 99.0 metres) grading 5.57 g/t gold. All trench samples at the Svetloye project are channel samples collected by rock sawing a channel 5 centimetres in width continuously throughout the trench wall providing a consistent sample similar to a horizontal drill hole. Please see attached maps.
The 2009 Svetloye trenching program was designed to provide increased continuity of sample data for resource definition within ore zones previously defined (see Press Release dated April 23, 2009), and to provide guidance to the 2009 and 2010 drill programs at Svetloye. Trenching was completed at five of the target areas identified at the Svetloye Project with encouraging results. See the attached table for a complete list of the 2009 trench results.
The Svetloye Project consists of nine prospects that occur over a linear distance of eight kilometres. Prior to the 2009 drilling and trenching programs, the total inferred resources at Svetloye, including the Elena, Amy and Tamara prospects was estimated at 20.1 million tonnes grading 2.21 g/t gold containing 1.428 million ounces of gold (see Press Release dated April 23, 2009).
Gold is associated with extensive zones of vuggy silica, quartz-alunite and quartz-dickite-kaolinite alteration. This style of mineralization is common to Pierina, Veladero and other high sulphidation epithermal deposits. Fortress owns a 100% interest in the Svetloye Project.
The Company plans to mobilize fuel and equipment to Svetloye over the winter months for next year's program. In the meantime the Company will concentrate its exploration efforts on the Malmyzh copper-gold and Limonite copper-molybdenum properties. These properties, which are accessible by road from Khabarovsk, can be drilled during the winter months (see Press Release dated October 19, 2009).
James C. Ashleman, Chief Geologist, P. Geo., and a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical information contained in this news release. A rigorous quality control program has been instituted involving insertion of certified standards and duplicate sampling. Samples are crushed and split on site with final sample preparation at the Irgiredmet Laboratory of Irkutsk, Russia (accredited by the State Committee of the Russian Federation for Standardization and Metrology "Gosstandart" of Russia). Assaying by fire assay is performed by the Irgiredmet Laboratory.
To view the maps accompanying this press release please click on the following link: http://us.lrd.yahoo.com/_ylt=Age9WgnWHBUFoowvfcmuf7mtcq9_;_ylu=X3oDMTE2OWh2ZWsxBHBvcwMxBHNlYwNuZXdzQXJ0Qm9keQRzbGsDaHR0cG1lZGlhM21h/SIG=11ibsacmt/**http%3A//media3.marketwire.com/docs/FST1028.pdf
ON BEHALF OF THE BOARD
Lukas H. Lundin, President and CEO"
The 2009 Svetloye trenching program was designed to provide increased continuity of sample data for resource definition within ore zones previously defined (see Press Release dated April 23, 2009), and to provide guidance to the 2009 and 2010 drill programs at Svetloye. Trenching was completed at five of the target areas identified at the Svetloye Project with encouraging results. See the attached table for a complete list of the 2009 trench results.
The Svetloye Project consists of nine prospects that occur over a linear distance of eight kilometres. Prior to the 2009 drilling and trenching programs, the total inferred resources at Svetloye, including the Elena, Amy and Tamara prospects was estimated at 20.1 million tonnes grading 2.21 g/t gold containing 1.428 million ounces of gold (see Press Release dated April 23, 2009).
Gold is associated with extensive zones of vuggy silica, quartz-alunite and quartz-dickite-kaolinite alteration. This style of mineralization is common to Pierina, Veladero and other high sulphidation epithermal deposits. Fortress owns a 100% interest in the Svetloye Project.
The Company plans to mobilize fuel and equipment to Svetloye over the winter months for next year's program. In the meantime the Company will concentrate its exploration efforts on the Malmyzh copper-gold and Limonite copper-molybdenum properties. These properties, which are accessible by road from Khabarovsk, can be drilled during the winter months (see Press Release dated October 19, 2009).
James C. Ashleman, Chief Geologist, P. Geo., and a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical information contained in this news release. A rigorous quality control program has been instituted involving insertion of certified standards and duplicate sampling. Samples are crushed and split on site with final sample preparation at the Irgiredmet Laboratory of Irkutsk, Russia (accredited by the State Committee of the Russian Federation for Standardization and Metrology "Gosstandart" of Russia). Assaying by fire assay is performed by the Irgiredmet Laboratory.
To view the maps accompanying this press release please click on the following link: http://us.lrd.yahoo.com/_ylt=Age9WgnWHBUFoowvfcmuf7mtcq9_;_ylu=X3oDMTE2OWh2ZWsxBHBvcwMxBHNlYwNuZXdzQXJ0Qm9keQRzbGsDaHR0cG1lZGlhM21h/SIG=11ibsacmt/**http%3A//media3.marketwire.com/docs/FST1028.pdf
ON BEHALF OF THE BOARD
Lukas H. Lundin, President and CEO"
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