Fortune Bay Intersects Near-surface Elevated Radioactivity In Multiple Drill Holes At The Murmac Uranium Project
HALIFAX, NS August 23, 2022 – Fortune Bay Corp. (TSXV:FOR, FWB:5QN, OTCQX: FTBYF) (“Fortune Bay” or the “Company”) is pleased to announce initial drilling results from its maiden exploration drilling program on the 100% owned Murmac Uranium Project (“Murmac” or the “Project”), located in northern Saskatchewan (see Figures 1 and 2).
The drilling program, which tested regional targets across the Project, identified elevated radioactivity in multiple drill holes within favorable geological settings for high-grade, unconformity-related basement-hosted deposits typical of the Athabasca Basin.
Results included near-surface intersections of elevated radioactivity (measured in counts per second or “cps”), between 20 and 150 metres below surface, within prospective graphitic units associated with favourable structure and hydrothermal alteration.
Highlights included:
- 460 cps from 81.2 to 82.7 m (approximately 63 m below surface), including 1,100 cps from 82.0 to 82.3 m in drill hole M22-002.
- 551 cps from 101.9 to 102.5 m (approximately 72 m below surface), including 1,100 cps from 102.2 to 102.3 m in drill hole M22-012.
- 334 cps from 24.7 to 31.6 m (approximately 20 m below surface), including 718 cps from 30.7 to 31.4 m, with 1,000 cps from 30.8 to 30.9 m and 1,000 cps from 31.2 to 31.3 m in drill hole M22-013.
- 443 cps from 36.6 to 39.9 m (approximately 38 m below surface), including 817 cps from 38.5 to 38.8 m, with 1,100 cps from 38.6 to 38.7 m in drill hole M22-014.
- 750 cps from 158.1 to 158.3 m (approximately 148 m below surface), including 1,150 cps from 158.2 to 158.3 m in drill hole M22-015.
