Fortune Bay Intersects Elevated Radioactivity in Maiden Drill Program at the Strike Uranium Project
HALIFAX, NS June 28, 2022
Fortune Bay Corp. is pleased to announce initial drill results for its 100% owned Strike Uranium Project, located in northern Saskatchewan. A total of nine drill holes were completed comprising 2,064 metres. Results included shallow intersections of elevated radioactivity, between 35 and 95 metres below surface, within favorable geological settings for high-grade, basement hosted deposits typical of the Athabasca Basin.
- Elevated radioactivity of over 300 counts per second was intersected in four of the nine drill holes completed. The elevated radioactivity was associated with prospective graphitic faults and favorable hydrothermal alteration:
- Drill hole S22-013 intersected an average of 840 cps from 145.5 to 145.8 metres , including 1,800 cps from 145.7 to 145.8 metres.
- Drill hole S22-005 intersected an average of 365 cps from 82.1 to 84.1 metres, including 1,300 cps from 82.3 to 82.4 metres.
- Drill hole S22-006 intersected an average of 390 cps from 106.9 to 107.5 metres, including 500 cps from 107.0 to 107.1 metres.
- Drill hole S22-010 intersected 300 cps from 53.8 to 53.9 metres and 330 cps from 55.0 to 55.1 metres. These shallow intersections conform with a new discovery of radioactive showings on surface with radioactivity of up to 5,000 cps. An average of 340 cps was also intersected from 135.1 to 135.4 metres.
- Drill hole S22-013 and S22-010 are located approximately 1.1 kilometres apart along the same graphitic unit, defining a trend for follow-up. Nearby historical surface grab samples include HY080 1.51% U3O8, Stancliff 0.19% U3O8, and Hacker Atompower 0.13% U3O8.