Fortune Minerals announces successful completion of NICO geophysical program and identification of IOCG targets

12 November 2020

Fortune Minerals Limited is pleased to report that Aurora Geosciences Ltd. (“Aurora”) has completed the previously announced induced polarization (“I.P.”) and ground magnetometer geophysical surveys along the projected east extension of the NICO Gold-Cobalt-Bismuth-Copper Deposit (“NICO Deposit”) in Canada’s Northwest Territories. The surveys were successful in outlining several large areas of coincident chargeability and magnetic high response with low electrical resistivity indicative of near-surface magnetic and conductive sources. Fortune has retained Aurora to complete a more detailed interpretation of the survey results with three-dimensional (“3-D”) modelling of the combined anomalies based on the property geology and the Company’s historical geophysical and LiDar databases. The report deliverables will include recommendations for drill testing of the identified anomalies with specified collar locations and targeting information.