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Friday, 24th April 2009 (3093 views)

Fortress Minerals has released an update resource estimate for its Svetloye gold project in Russia.

The updated resource of 5.975 million tonnes at an average grade of 2.43 g/t gold is for the Amy prospect and is classified in the inferred category.

Based on a 1.0 g/t gold cutoff and a 10 g/t capped gold grade, the estimate predicts a yield of 467,000 contained ounces of gold, bringing the total Svetloye property inferred resource to 1.428 million ounces, including the Elena, Amy and Tamara prospects.

The updated resource estimate is based on a step-out diamond drill programme completed on the property during the 2008 field season and a total of 8,000m of additional drilling is planned for 2009 in order to extend the area of known mineralisation at the Amy deposit.

Based in Vancouver, British Columbia, Fortress Minerals owns a number of gold exploration properties in Russia, including the high-grade Svetloye gold project in the far east of the country.

 

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