FST tsx.x heading into breakout territory drilling to start shortly
Fortress Minerals finds 130 m of 7.12 gpt Au in Elena
2006-01-04 10:17 ET - News Release
Mr. Ron Hochstein reports
FORTRESS REPORTS ADDITIONAL EXTENSIVE HIGH GRADE GOLD TRENCH RESULTS FROM SVETLOYE PROJECT IN RUSSIA
Fortress Minerals Corp. has released results from 248 additional channel samples from trenches excavated at the Svetloye project in this past field season. Highlights from the Elena target include trench No. 11 that returned 130 metres grading 7.12 grams per tonne gold, including 7.3 metres grading 56.8 grams per tonne gold, and trench No. 13 where samples graded 2.74 grams per tonne gold over a channel width of 150 metres, including a 90-metre intercept grading 4.05 grams per tonne gold. Partial results have been received for trench No. 7/1 east, which returned 37 metres running 14.1 grams per tonne gold, including 19 metres grading 22.6 grams per tonne gold. Assays are pending on an additional 63.6 metres from this trench.
In addition, Fortress has received partial results from the first trench excavated at the Tamara prospect, another of the seven targets identified to date within the Svetloye project. Samples from this trench (trench No. 16) returned 50.5 metres grading 3.9 grams per tonne gold. Assays are pending on an additional 74.5 metres.
These trench sample results not only continue to indicate extensive high-grade gold concentrations at surface within the Elena target, but now indicate that similar high grades over impressive channel widths also occur at the Tamara prospect, 1.3 kilometres to the west-northwest.
Results from approximately 342 additional channel samples from the Svetloye project are pending.
A 10,000-metre drill program is scheduled to begin upon completion of a winter road that is currently under construction from the coastal town of Okhotsk to the Svetloye site.
Significant results are as follows.
SVETLOYE 2005 BATCH II TRENCH RESULTS
Elena trenches
No. Length Sample Interval Ave.
m interval length gold
m m gpt
11 130 0 130 130 7.12 (1)
incl. 23.7 31 7.3 56.77
and 101.7 110 8.3 pending
7/1
east 100.6 0 37 37 14.1
incl. 6.5 25.5 19 22.6
and 37 100.6 63.6 pending
13 150 0 150 150 2.74 (2)
incl. 4 94 90 4.05
14 94 9 74 65 1.02
1/1
east 12 0 12 12 0.49
1/2
west 12 0 12 12 1.97
2/2
west 27.4 0 27.4 27.4 0.81
Tamara trenches
16 125 0 50.5 50.5 3.90 (3)
50.5 125 74.5 pending
(1) Includes a two-metre interval grading 171.8 grams per tonne gold, which when cut to the average of the adjacent samples (14.85 grams per tonne) reduces the overall grade to 4.71 grams per tonne gold over 130 metres. The interval includes 8.3 metres at zero grade where assays are pending.
(2) Includes previously released results for the interval from 78 to 92 metres.
(3) Includes intervals of 3.2 metres and 1.7 metres at zero grade where samples could not be collected.
Fortress has an option to earn an 80-per-cent interest in the Svetloye gold project from Phelps Dodge Exploration Corp.
Thomas Bowens, MSc, PGeo, vice-president of exploration, a qualified person as defined by National Instrument 43-101, has reviewed and verified the technical information contained in this news release. Samples were crushed at the Polymetal Khakanjah prep laboratory facility in Okhotsk, Russia, and samples shipped to American Assay Laboratories Inc. in Sparks, Nev., for fire assay. Check assaying of select samples and other tests will be undertaken as per the company's quality control program.
We seek Safe Harbor.
