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FORTIS MINING LIMITED

ASX: FMJ

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Fortis Mining Limited is a publicly listed mineral exploration company based in Melbourne, Australia, with a focus on potash, gold, nickel, and copper deposits. Fortis Mining Limited has acquired the rights to two significant potash salt deposits in Kazakhstan, as well as interests in several mining tenements in Western Australia.

Chelkarskaya Potash Deposit, Kazakhstan

The Chelkarskaya Potash Deposit is located in the Terektinsskiy district, in the western region of the Republic of Kazakhstan and is 98 km south of the regional city of Uralsk.

Geologists from the former Soviet Union identified the area during the 1950’s. Work defining the mineralisation has included drilling of approximately 220 drill holes on grid spacing varying between 1000m x 1000m to 200m x 200m, chemical analysis of drill samples, seismic surveying and hydrological studies.

The area is secured by a binding contract, covering an area of approximately 779 sq km, for the exploration and production of potassium salt. The contract provides for an exploration period of 6 years and a production period of 45 years (including 4 years of processing plant development).

The potash horizons are located in the Chelkarskaya Deposit within sequence chemical and clastic sediments. Mineralisation in the form of Sylvinite, Carnallite-Sylvinite and Polyhalite occurs at a depth of approximately 300 – 700 metres below the surface. In addition to potash and magnesium salts, a separate boron salt layer has been identified.

Zhilyanskoe Potash Deposit, Kazakhstan

The Zhilyanskoe Potash Deposit is located in the Aktobe Province, in the north western region of the Republic of Kazakhstan, and is 8 km south east of the city of Aktobe. Aktobe is a regional capital with significant infrastructure, including railway and road networks connecting Asia and Europe, an international airport, high voltage power lines and high pressure oil and gas pipelines.

The area is secured by a binding contract, covering an area of approximately 88 sq km, for the exploration and production of potassium salt. The contract provides for an exploration period of 6 years and a production period of 45 years (including 4 years of processing plant development).

Information on the mineralisation is based on Soviet era grid lines between 1000m and 500m apart, with holes drilled between 100m and 200m along the lines. Potash mineralisation has been identified over an area 0.5 to 2 km wide and up to 5000m in length.

The mineralisation occurs between a depth of 430m and 700m below the surface on the western flank of an anticlinal structure. Drilling has defined a number of Sylvite, Polyhalite and Carnallite-Sylvinite and Sylvinite salt strata with a thickness between 22 and 36m that dips approximately 45° to the west.

Gidgee Project, Western Australia

The Gidgee Project is located 640 kilometres northeast of Perth in central Western Australia. The area covers portions of the Gum Creek Greenstone Belt west of the Montague Range. The greenstone belt hosts a number of significant gold deposits to the north and east of the project area including Wilsons, Swan Bitter, Kingfisher, and Wahoo. These deposits were mined via a series of open cut and underground operations with ore hauled to and processed at the Gidgee Gold Mine plant. The mine operated from the late 1980s until 2003 producing in excess of one million ounces of gold.

The Gidgee Project has undergone significant exploration for gold in the past with much of the project area having been covered by drilling and surface geochemical sampling. Of note is that much of this drilling is relatively shallow (<50m) and may not have effectively or completely tested areas which are deeply weathered. In addition, areas of deep weathering and surface cover of alluviual/colluvial material surface geochemistry may have not been effectively drilled.

The majority of exploration in the Gidgee project area has been focussed on gold exploration. However more recently Legend Mining has identified the potential of the belt to host “Kambalda-Style” Ni sulphide mineralisation. Legend completed drilling and geophysics in the east of the project area identifying what are interpreted to be komatiites with anomalous Ni values of up 0.7% Ni. Ultramafic units which may be komatiitic basalts have been mapped and interpreted in several areas throughout the project. These areas still probably require systematic exploration and evaluation.

Jundee Project

Fortis' Jundee Project lies in the northern part of the Yandal Belt, an Archaean NNW striking greenstone succession flanked by Archaean aged granitoids. The belt hosts several major gold deposits including the Jundee-Nimary deposits (>7Moz Au) and the Bronzewing Deposit (>2Moz Au). The northern part of the Fortis? Jundee project area lies six km southwest of the established Jundee-Nimary Gold Mine which has produced in excess of 5 million ounces of gold from open pit and underground operations since 1995. A number of other smaller gold deposits lie several kilometres to the east of Fortis? Jundee project including Elliot, Area7, Henry Ward and Gourdis-Vause which have been previously mined as small open pit operations. The geology of the project area is dominated by tholeiitic and high magnesium basalts, cherts and banded iron formations of the Moilers mafic sequence in the west, by dacitic to andesitic volcanics and volcaniclastic rocks interbedded with basalts and ferriginous cherts of the Nimary felsic sequence in the central parts, and by the ultramafics, high magnesium basalts, tholeitic basalts, interbedded sediments, layered dolerite sills and dacitic to granodioritic porphyry intrusions of the Jundee mafic sequence in the east.

New England Project, Western Australia

The New England Well Project lies approximately 425km north of Kalgoorlie and 90km southeast of Wiluna within the southern part of the Yandal Belt, where an Archaean NNW striking greenstone succession is flanked by Archaean aged granitoids. Several small historic gold workings are located within and in close proximity to the project area.

Previous exploration work on the New England Well area has been focussed on gold. The majority of the project area has been covered with shallow vertical RAB drilling on broad line-spacings. However given the narrow (<1m) and relatively short strike length (<100m) and steeply dipping nature of gold mineralised veins observed in the neighbouring historic workings there, is some potential to discover small high-grade deposits that may have been inadvertently missed by earlier drilling. Further evaluation of historic drilling and geological mapping is required to better assess the geological potential of the area and also identify targets for drill testing.

Darlot Project

The project is located within the Archaean Yandal Greenstone Belt. The project overlies a sequence of mafic rocks which have undergone deformation and have been intruded by granitoids. Large part of the project area is covered by transported material. The Darlot project area has undergone limited exploration for gold with previous drilling having intercepted a number of narrow anomalous gold intercepts. Further work is warranted to assess the potential of this project area, particularly as it is in relatively close proximity to the multi-million ounce Darlot Gold Deposit.

Braemore Project

The Braemore Project is located in the Eastern Goldfields of the Yilgarn Craton, six kilometres northeast of Leonora and approximately 833km northeast of Perth. The geology of the project comprises Archaean greenstones of the Wiluna-Norseman Greenstone Belt within the Keith-Kilkenny Tectonic Zone.

The Braemore Project has undergone historic exploration for gold, mostly during the 1990s. Previous workers have identified a number of prospects including Pink Pig, Rabbit Warren North and Natasha (where historic drilling has intercepted 4m at 17.65g/t Au). Other parts of the project area generally have very little drilling. The encouraging results from some of the historic drilling and the current gold price make this project prospective for further gold exploration.

Mine For

gold, potash, nickel, copper

Location of operation(s)

Western Australia, Kazakhstan

Address

Level 5, 15-19 Claremont St
SOUTH YARRA, VIC, Australia

Phone

(61 3) 9020 0105

Email

Website


Last Updated

19/5/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.