FSM Reports Results of Golconda Drill Program
August 09 2012 - 4:20PM
Marketwired Canada
Fortunate Sun Mining Company Ltd. (TSX VENTURE:FSM) (the "Company") has received
the results of the recent drill program conducted at the company's Golconda
project. The results listed in the table below highlight those results from the
731 meters of diamond core drilling completed in 9 holes of HQ diameter
drilling. These holes were designed to serve as due diligence drilling to
confirm historical intercepts as well as test various depths of the Golconda
gold epithermal vein system.
The Golconda vein was targeted and intercepted by a total of six of the nine
holes drilled (GO12-03 thru GO12-08). All six drill holes are located at various
positions along approximately 70 meters of strike length and tested the vein to
a vertical depth of approximately 75 meters. Core obtained from these six drill
holes confirms the Golconda vein to be a low-sulfidation epithermal high-grade
auriferous quartz fissure vein with approximate true widths of quartz pyrite
veining ranging from 1.20 to 2.00 meters hosted within a moderately
metamorphosed biotite gneiss. The Golconda vein strikes at 100-110 degrees with
dip ranging from 54 degrees to 68 degrees to the southwest. Mineralization is
found to be constrained to the margins and vein material with little to absent
mineralization within the adjacent wall rocks or other minor zones demonstrating
silicification and pyrite mineralization.
Two of the due diligence holes (GO12-01 & GO12-02) did not confirm results
reported by Great Western Gold Corp. in 1995. However, additional initial
drilling tested and intersected several mineralized quartz vein sections along
the Golconda vein.
Drill hole GO12-09 intercepted a 1.10 meter intercept of what is interpreted as
the Western "Splay" vein. This intercept was a milky quartz vein with hematite
present but did not yield economic grades of mineralization.
The Golconda vein carries locally very high gold and silver values and low base
metal values indicating it may be exposed at a relatively high level, leaving
significant vertical depth for higher grade precious metals values to continue.
Additionally, probable continuations of the vein lie to the west (the San
Lorenzo vein), and to the east show similar widths and allow for a possible
greater than 2 km strike length overall potential for additional high-grade
ore-shoots to occur. To date, the Golconda vein and property continues to retain
the potential to host additional high-grade and high-grade ore-shoots and has
only locally been prospected and drill tested. "As an initial, modest and very
localized drill campaign at Golconda we are encouraged by our results and
continue to process our newly acquired drill hole information to further
understand this structurally complex property"states Kristian Whitehead, VP
Exploration.
Drill Hole GO12-01
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From (m) To (m) Interval (m) Gold (g/t) Silver (g/t)
No Significant Intercepts
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Drill Hole GO12-02
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From (m) To (m) Interval (m) Gold (g/t) Silver (g/t)
No Significant Intercepts
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Drill Hole GO12-03
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From (m) To (m) Interval (m) Gold (g/t) Silver (g/t)
32.4 33.9 1.5 5.19 8.3
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Drill Hole GO12-04
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From (m) To (m) Interval (m) Gold (g/t) Silver (g/t)
24.7 26.7 2.0 0.55 4.8
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Drill Hole GO12-05
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From (m) To (m) Interval (m) Gold (g/t) Silver (g/t)
47.2 49.0 1.8 0.37 1.0
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Drill Hole GO12-06
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From (m) To (m) Interval (m) Gold (g/t) Silver (g/t)
54.2 56.6 2.4 0.19 0.7
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Drill Hole GO12-07
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From (m) To (m) Interval (m) Gold (g/t) Silver (g/t)
24.4 26.1 1.7 0.14 1.0
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Drill Hole GO12-08
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From (m) To (m) Interval (m) Gold (g/t) Silver (g/t)
40.6 44.5 3.9 1.03 1.9
Including
41.8 43.0 1.2 2.95 5.9
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Drill Hole GO12-09
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From (m) To (m) Interval (m) Gold (g/t) Silver (g/t)
8.5 9.8 1.3 0.21 0.3
On behalf of the Board of Directors
Reg Advocaat, President and CEO
This news release may contain forward looking statements including but not
limited to, information regarding geological interpretations, resources,
potential timing and content of exploration programs, production schedules and
projections, receipt of permits, company financings etc. Forward looking
statements refer to events and conditions which have not yet taken place and
therefore involve inherent risks and uncertainties. Actual results may differ
materially from those anticipated in these statements. Fortunate Sun relies on
litigation protection for forward looking statements.
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