#Gold #Stocks News
Alert; Fortune Bay (TSXV: $FOR.V) Begins Phase One Drilling at Goldfields
Project; @fortunebaycorp
HALIFAX, NS March 18,
2021 – (Investorideas.com
Newswire) Fortune Bay Corp. (TSXV: FOR, Frankfurt: 5QN) (“Fortune Bay” or the “Company”) is pleased to
announce that the Phase 1 drilling program has commenced at its 100% owned
Goldfields Project (“Goldfields” or the “Project”) located in northern
Saskatchewan. The Company plans to complete approximately 5,000 metres in 15
holes.
Read this news, featuring FOR in full at https://www.investorideas.com/CO/FOR/news/2021/03181Goldfields-Project.asp
A diamond drill rig has been mobilized to site and
drilling is currently underway at the Athona South target. Planned drilling at
Athona South is expected to include confirmatory drilling to verify the 1930’s
historical results, infill drilling to establish continuity with mineralization
to the north, and step-out drilling to the south.
The Phase 1 drilling program also includes planned
step-out drilling at the Box deposit’s Zone A and B where high priority targets
have been identified. An approximate 50 metre drill spacing has been planned
for the Phase 1 program at Box and Athona designed to commence expanding the
historical mineral resources beyond the current drilling coverage.
Dale Verran, CEO for Fortune Bay, commented, “We
are pleased to have started drilling approximately two weeks after being
awarded a drilling permit. The mobilization to site was completed as planned
and made efficient and cost-effective by access along the seasonal Lake
Athabasca ice road. We now look forward to the results from our planned drill
holes at Athona and Box, which will importantly include the receipt of gold
assays in the coming weeks.”
The location of the drill targets at the Athona and
Box gold deposits, and further drill target details, are provided in the
Company’s news release dated February 26, 2021.
Dale Verran, P.Geo., Chief Executive Officer of the
Company and Qualified Person as defined by NI 43-101 has reviewed and approved
the contents of this news release.
Further information
on Fortune Bay and its assets can be found on the Company’s website at www.fortunebaycorp.com or by contacting us as info@fortunebaycorp.com or by telephone at 902-334-1919.
On behalf of Fortune Bay Corp.
”Dale Verran”
Chief Executive Officer
902-334-1919
Cautionary Statement Regarding Forward-Looking
Information
Information set forth in this news release contains
forward-looking statements that are based on assumptions as of the date of this
news release. These statements reflect management's current estimates, beliefs,
intentions and expectations. They are not guarantees of future performance.
Fortune Bay Corp. (“Fortune Bay” or the “Company”) cautions that all
forward-looking statements are inherently uncertain, and that actual
performance may be affected by a number of material factors, many of which are
beyond Fortune Bay's control. Such factors include, among other things: risks
and uncertainties relating to metal prices, changes in planned work resulting
from weather, COVID-19 restrictions, logistical, technical or other factors,
the possibility that results of work will not fulfill expectations and realize
the perceived potential of Fortune Bay's mineral properties, uncertainties
involved in the interpretation of drilling results and other tests, the
possibility that required permits may not be obtained in a timely manner or at
all, risk of accidents, equipment breakdowns or other unanticipated
difficulties or interruptions, the possibility of cost overruns or
unanticipated expenses in work programs, the risk of environmental
contamination or damage resulting from the exploration operations, the need to
comply with environmental and governmental regulations and the lack of
availability of necessary capital, which may not be available to Fortune Bay,
acceptable to it or at all. Fortune Bay is subject to the specific risks
inherent in the mining business as well as general economic and business
conditions. Accordingly, actual and future events, conditions and results may
differ materially from the estimates, beliefs, intentions and expectations
expressed or implied in the forward-looking information. Except as required
under applicable securities legislation, Fortune Bay undertakes no obligation
to publicly update or revise forward-looking information. Fortune Bay does not
intend, and does not assume any obligation, to update these forward-looking
statements, except as required under applicable securities legislation. For
more information on Fortune Bay, readers should refer to Fortune Bay's website
at www.fortunebaycorp.com.
Fortune Bay Corp.
(TSXV: FOR) is a featured Mining stock on Investorideas.com
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