Resource Estimate For Wind Mountain Received
VANCOUVER, BC - Fortune River Resource Corp. reported that it has received a NI 43-101 compliant Technical Report for the Wind Mountain Au-Ag deposit in Nevada's Walker Lane gold trend which estimates the total Measured plus Indicated Resource for the project as 33.7 million tons above a cutoff grade of 0.0075 opt Au, with an average grade of 0.012 opt gold, containing 406,000 ounces of gold. The report also estimates an Inferred Resource of 9.8 million tons above a cutoff grade of 0.0075 opt Au, with an average grade of 0.009 opt gold, containing 92,000 ounces of gold. The report further states, "the inferred resource is enveloped by over 74 million tons of material averaging 0.006 opt Au (444,000 ounces gold) that is not regarded as potentially economic at this time, but may become so in the future."
The report recommends a next-phase budget of approximately US$500,000 to undertake several areas of study that could lead to significantly increasing the size and quality of the resource, including: deep exploration of "feeder" structures, expansion of known near surface oxide resources, both laterally and at shallow depth, and evaluation of potential for processing gold-bearing material on existing heap-leach piles and mine dumps. Part of this program will begin during January 2008 as the Company initiates drilling of three deep reverse-circulation holes (approximately 1,200m total) to test specific "feeder" structures.
Wind Mountain is being acquired via an earn-in agreement with Agnico-Eagle (USA) Limited, a subsidiary of Agnico-Eagle Mines Ltd and is one of Fortune River's five low-sulfidation gold/silver properties being explored in the highly prospective Walker Lane gold trend in northwestern Nevada.
The company's address is Suite 1100, 1199 West Hastings Street, Vancouver, BC V6E 3T5, (604) 684-9384, fax: (604) 688-4670.