Fortune Minerals’ drilling program at its NICO Critical Minerals Project in the Northwest Territories of Canada has identified a potential east strike extension of the NICO Deposit.
Drilling was carried out at the end of 2021 in order to test four prospects that had been identified in earlier geophysical surveys and a 1997 drill program. The recent drilling also confirmed continuity of cobalt-gold-bismuth and local copper mineralization in the Peanut Lake Zone, located 800 metres southeast of the deposit.
The NICO Deposit contains minerals reserves totaling 33.1 million metric tonnes comprising of 37.3 million kilograms of cobalt, 1.1 million troy ounces of gold, 46.3 million kg of bismuth, and 12.3 million kg of copper.
The NICO Project is a planned open pit and underground mine, mill and concentrator in the Northwest Territories, and a planned hydrometallurgical refinery in Alberta’s Industrial Heartland, northeast of Edmonton, to process metal concentrates into value-added products.
Fortune Mineral also owns the satellite Sue-Dianne copper-silver-gold deposit located 25 km north of the NICO Deposit, which is a potential future source of incremental mill feed to extend the life of the planned NICO mill and concentrator.
Source: Fortune Minerals