Fortune Bay Drills 9.9 g/t over 7.0 m within 3.7 g/t over 21.0 m in Large Step-Out from Box Deposit

[MUSIC] Fortune Bay is advancing its flagship Goldfield's Gold project in Saskatchewan towards a pre-visibility study. The company is also conducting aspiration drilling to strengthen Goldfield's economics, and those exploration results are coming in this week. Fortune Bay announced that it drilled 9.9 grams per tonne over 7.0 meters with 3.7 grams per tonne over 21 meters in a large step out from box deposit. Here to discuss is Fortune Bay's Chief Executive Officer, Dale Veron. Dale, welcome to Miningstock, Daley. Thanks, Michael. Good to be a your VP technical services called this result evidence of a much larger Gold system. Dale, what have you found? Yeah, it's a great result. We weren't expecting to seriously grade that high, but we were expecting to hit something. We know on the Goldfield's project there is a larger Gold system. We have two deposits there, the box deposit. It's a much larger, high grade deposit, and then two kilometers away. We have the Throne and Deposit, and there's actually only one hole drilled between these two deposits in what we call the Goldfield's Sintland, and it was drilled in 1988, and there was around 4 gram of tonne over 3 meters. It's not a huge result, but we knew the mineralisation continues between the deposits. When we stepped out with this hole from box, we were expecting to get into the mineralised unit, which is the granite, and we hit it roughly where we expected it was actually a bit shallow, then we expected it got a fantastic result. This is just really that evidence that this thing does keep going. It's much larger. We have yet to find the full extent of it, and a really exciting result that points toward resource growth potential. So you've got this hole. What is the next steps for that in terms of modeling this out? Yeah, so when we draw holes, we collect a lot of data. Obviously the geology itself, we also measure all the structures, and we busy compiling that from our recent drilling with our historical drilling results, and putting together expanding our model to be predictive as to where these high grades will go, and where to test them in future programs. So that work is all underway, and once we have the full interpretation of the results, we'll be planning the next phase of drilling to target these high grade structures that sit below this open pit. We already have designed for the project produces tremendous economics, but we know beyond that open pit there's a huge amount of potential to build our underground resource, and we just need to get some more drilling done. I want to get into the other side of the project in a minute, your development side is well too, but talking about the season, how long is the exploration program going to run? What's the outcome you would like to see, and then also kind of folding that into largely what you're building at Fortune Bay? Yeah, we've gone through what we call our Winsor drilling program. I think a lot of people know drilling in Canada is quite seasonal, so we've gone through a Winsor program. We drilled just over 3,000 meters in the objective, was really to test a few of these targets and to see evaluate where the best chances were to build resources on the project. We drilled that box, five holes total. We drilled at Golden Pond, historical occurrence. We drilled seven holes there and then three at Frontier. Those results are all coming in, and that's going to help design where we go next, what we do. With this tour that targets, we have one near at what we call a phono west, and one at Triangle. We didn't get to drill this winter. They're more amenable to summer drilling, so we are looking to do that as well. There's a range of targets across the project, and this initial phase is really to just point us in the right direction where the best potential is, so we know we really focus future exploration meters on the project. Sorry, when you say come in, it has a news for finish, as far as exploration program, or are you expecting to publish more? No, we still expect, we've only released essays for the drilling we did at the box deposit, the exploration drilling at the box. We are expecting essays from Golden Pond and Frontier, so to come in, so we can look forward to news coming out of those over the next few weeks here. Let's talk about the development side, how's the work going on, the PFAS, what's all the top tasks that you're working on? Yeah, it works going well. We had a winter program planned, and it was really run in tandem with the exploration drilling. We are busy doing that, finishing that off now some of the drilling for the winter, the program at the box deposit, where we drilling holes, not exploration holes, different types of holes, they enter the deposit itself into the pits area where we're collecting geotechnical data, it's going to help refine the design of the open pits and look for optimizations on that open pit, and then we also started the sampling program to get enough material together for metallurgical test work. That's really just to firm up on some of the metallurgical processing methods that were defined in our preliminary economic assessment. So the PFAS works going on track, we've got, we're lining up summer programs now, we're going to keep going with the geotechnical work, the metallurgical work looking at some of the infrastructure components, and then also some of the waste rock characteristics, because we got a better design, the waste rock, dumps, etc. So all that's going along as planned, and we're looking forward to an act of summer program as we collect more and more data toward the PFAS. Goldfields is your flagship, you do hold other assets, so you have the project in Mexico, and it's also an Athabasca based asset as well. Any updates? I'm asking doubt, because Uranium market is heating up right now. Yeah, perhaps just focusing on the Uranium first, and we've got a tremendous set of Uranium projects on that northern rim of the Athabasca basin. We know it's the place to go looking for these high, high grades in Uranium, and we have six projects in total. We got in there early, ahead of the staking rush and Saskatchewan. We have Uranium expertise in our team. So we've got these six projects there. We've found them out, so we've got two partners that are earning into these projects. There's a Canadian listed company and an Australian group that's about to list, and they've been in touch with us, of course, and we're planning out some summer programs now with the operator. It should be a substantial investment. We'll be able to release some news on that soon as to what the exact plans are and how much will be spent, but will we look into drilling across the projects this summer? Really exciting, because it gives our shareholders upside in terms of we can retain a stake in the equity stake in those projects. But also because we operate, we generate the management fees, operator fees, as well as option payments from that. So it's non-dolier for shareholders and brings in some revenues as well that it actually covers about half of our GNA. Not a lot of people know that. And then just stepping outside the Uranium and Saskatchewan, in Mexico we have a really good gold asset. It's got 1.7 million ounce historical resource tremendous exploration potential. We were looking to get that project going this year through some more exploration. There's a lot of upside there. We see great targets. But there's a complication with the state government that put a protected area of a portion, a small portion of our concession, but it does impact some of our key target areas. So we're currently working with the state government to get that resolved. And have those protected areas allocated elsewhere. So it doesn't affect us on our mineral rights. And we're working very constructively with the state government on that. In parallel with a legal process that we needed to in your share just to protect our federally granted mineral rights. So very optimistic we're going to be able to move that project forward. And maybe this year might be later. But we've got some work to do there. But in the meantime, very busy in Saskatchewan, advancing on a great gold project in Goldfields and then having partners spend on a really nice suite of our portfolio of Uranium exploration projects. So, Lassi Dale, just talking about news for them. So for the rest of 2026, so I expect that we would see more exploration results come in that you're doing around Goldfields. There are also potentially maybe news if it's coming out of those assets. And then news that you're anticipating out of the development. Yeah, for sure. We'll see as her results come over the next few weeks here from Goldfields, we'll set some development updates in terms of the work we've been carrying out and completing toward the PFS. Outside of the PFS, we also, there's also the permitting pathway that we're advancing in parallel with the PFS studies and that's regulatory engagement and working with the communities on talking about a new mind development there. And then of course, also on the Uranium assets, an announcement of plans and for the summer. And then obviously drilling results as they come out. So a a lot be really. active summer, lots of news for the company and really excited to get going with everything that is met up for us. Dale, thank you, Spedig with Mining Stock Daily. Thanks, Michael. Great to be here. The information presented should not be considered investment advice. Mining stock daily and affiliates are not responsible for any loss arising from any investment decision and connection with the material presented herein. Please do your own research or speak with a licensed financial representative before making any investment decisions.