Friday, 9th May 2008 (533 views)

The first drill hole of a new campaign at the Wind Mountain project in the western American state of Nevada has returned a "thick gold intercept", the company developing the site has said.

Fortune River Resource said the hole, designated WM08018, returned an overall interval of 102.1 metres with an average grade of 0.69 g/t gold at a depth of 187 metres below the surface.

Higher-grade sections within this return were graded at 1.5 g/t gold over 7.6 metres and 1.1 g/t gold over 4.6 metres.

The company said the mineralisation encountered "appears to be essentially flat-lying", meaning the intercepts are "nearly true thickness".

Drilling is ongoing at the site, it added, with two further holes located approximately 60 metres to the north and south of the previously drilled WM08016 hole also intercepting mineralisation of "significant thickness".

Additional work will target the new zone to extend its strike length along the Wind Mountain fault, which has been traced along the surface to a distance of over 3,400 metres.

A 2007 NI 43-101 compliant mineral estimate for Wind Mountain put its gold resources at 33.7 million tonnes with an average grade of 0.41 g/t gold for a total of 406,000 ounces of the precious metal.

Fortune River Resource is based in Vancouver, Canada.

 

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