- Write by:
-
Saturday, January 9, 2021 - 9:40:27 AM
-
593 Visit
-
Print
Mining News Pro - Fortune Nickel and Gold, a wholly-owned subsidiary of Here To Serve Holding, announced that it has acquired strategic lands in Ontario, in the general area where Canada Nickel has discovered several significant deposits of nickel and other metals.
In detail, the company acquired 75 unpatented mining claims comprising 3,750 acres and located approximately 18 miles northwest of Crawford Township. According to Fortune, back in 1965, three holes were drilled on the property and significant anomalies of nickel and gold were intersected.
“Drilling assessment reports from the Ministry of Northern Development and Mines has highlighted the presence of serpentinite-altered dunite-peridotite rocks with variable thickness (up to 118 ft) of fine disseminations of pentlandite-millerite-pyrite-magnetite, with grades ranging from 0.10 up to 0.30% Ni,” Fortune said in a media statement.
“There has been no significant exploration on the property in the last 50+ years. The property has enormous blue-sky potential for nickel, base-metal and gold opportunities with multiple, near-surface, drill-ready targets.”
In the miner’s view, this acquisition complements and supplements its Gowan nickel project, which is located about 13 miles northeast of Timmins, Ontario.
“As a result of our attentiveness to the actions of the federal reserve and their growing balance sheet of corporate high-yield debt and the threat of inflation in these uncertain times, we believe the best way to protect shareholder value from a falling dollar is to buy gold properties,” Paul Riss, Fortune’s CEO, said in the press release.
Short Link:
https://www.miningnews.ir/En/News/610000
Australia will spend A$566 million ($373 million) over the coming decade to map out resource deposits with a focus on ...
Indonesia’s nickel reserves are sufficient for expanded processing operations, an investment ministry official said on ...
Newmont Corp. has no plans to expedite a decision on its $2.5 billion Yanacocha Sulfides project, dashing the Peruvian ...
China’s central bank added 60,000 troy ounces of gold to its reserves in April, official data showed on Tuesday, ...
Gold rose after mixed signals from the US, where optimism is growing the economy is on target for a soft landing as the ...
Executives from Saudi Arabian mining company Manara Minerals are in Islamabad to continue talks about buying a stake in ...
Harmony Gold said on Thursday an employee working on planned rail maintenance had died at its Mponeng mine in South ...
Emerging North American gold producer Contango ORE is boosting its landhold in Alaska with the acquisition of Canada’s ...
Gold fell, with market watchers saying the previous day’s rally in response to Federal Reserve Chair Jerome Powell’s ...
No comments have been posted yet ...