Fortune Minerals Limited is pleased to announce the completion of Phase 2 of underground test mining at its now wholly-owned (see Fortune news release of August 9, 2007) NICO cobalt-gold-bismuth deposit in the Northwest Territories. This second $10
million program of underground test mining in two years (see Fortune news release of March 29, 2007) was conducted to assess the mining conditions and continuity of grade in the gold-rich, higher-grade, lower parts of the deposit, approximately 200 metres beneath the surface and 45 metres beneath the 2006 Phase 1 underground workings. Approximately 75 tonnes of the ore that was mined during Phase 2 will be flown from the property this week to supplement 200 tonnes of ore already collected during Phase 1. These ores will then be shipped to SGS Lakefield Research Limited (SGS) in Lakefield, Ontario where they will be blended to represent the average grades of underground and open pit ores from the planned mine. The blended ore will be used in a six-month long, large-scale, pilot plant test beginning in October. Test results will be available as different parts of the program (crushing, grinding and flotation/bismuth processing/cobalt processing/gold processing) are completed.

The 2007 program began in March with dewatering of the 2006 underground workings followed by deepening and extending the ramp an additional 325 metres to a depth of 200 metres below surface where 300 metres of lateral development work was conducted to intersect the lower ore zone. Also, an “Alimak” raise was driven to surface to provide ventilation for the underground part of the mine and an emergency access. Approximately 3,600 tonnes of ore was mined from the lower ore zone during the 2007 program as well as approximately 33,000
tonnes of waste rock, which will be used for construction and road aggregate.

Additional environmental surveys are also underway at the proposed mine site as well as the access and powerline corridors. Both the 2006 and 2007
underground test mining programs were carried out by KeTe Whii - Procon, a joint-venture between Procon Mining and Tunnelling of Burnaby, British
Columbia and the Tlicho, Yellowknife and Lutsel K’e Dene First Nations.

Find More Other News : Company, Energy, Exploration, Mine Trade & Market, Mineral Exploration, Mining Top News