Fortune Bay Commences 2022 Field Programs on its Uranium and Gold Projects in Saskatchewan
HALIFAX, NS January 24, 2022 – Fortune Bay Corp. (TSXV:FOR, FWB:5QN) (“Fortune Bay” or the “Company”) is pleased to announce that Phase 2 exploration drilling has commenced on its Goldfields Gold Project, and a ground gravity survey has begun on its Strike Uranium Project. Both Projects are located in northern Saskatchewan, within 25 kilometres of Uranium City where the Company has an established operational base (see Figure 1). Goldfields Project – Phase 2 Exploration Drilling
- Drilling has commenced to test gold exploration targets within the hinge zone of the Goldfields Syncline, between the Box and Athona gold deposits, with the objective of making a new discovery.
- An estimated 2,000 metres of diamond drilling is planned to test up to six targets which have been identified from geological and geophysical datasets (see Figure 2), with additional resource expansion drilling at the Box deposit contingent on final assay results from Phase 1 drilling completed during 2021.
- A ground gravity survey has commenced over the northern portion of the Project area (approximately 2,600 hectares) to cover the 15 kilometre length extent of the prioritized electromagnetic (“EM”) conductors.
- Ground gravity results will be utilized to detect favorable clay alteration zones along the EM conductors to further prioritize targets for drilling.
- Maiden exploration drilling is planned to commence in mid Q2 2022 and continue into the summer months.