For Fortune Nickel and Gold, this acquisition complements its Gowan nickel project, located northeast of Timmins
“Drilling assessment reports from the Ministry of Northern Development and Mines has highlighted the presence of serpentinite-altered dunite-peridotite rocks with variable thickness (up to 118 ft) of fine disseminations of pentlandite-millerite-pyrite-magnetite, with grades ranging from 0.10 up to 0.30% Ni,” Fortune said in a media statement. “There has been no significant exploration on the property in the last 50+ years. The property has enormous blue-sky potential for nickel, base-metal and gold opportunities with multiple, near-surface, drill-ready targets.”
In the miner’s view, this acquisition complements and supplements its Gowan nickel project, which is located about 13 miles northeast of Timmins, Ontario.
“As a result of our attentiveness to the actions of the federal reserve and their growing balance sheet of corporate high-yield debt and the threat of inflation in these uncertain times, we believe the best way to protect shareholder value from a falling dollar is to buy gold properties,” Paul Riss, Fortune’s CEO, said in the press release.
