Fortune River Resource Corp.: Additional Encouraging Assays From East Manhattan
Thu Jun 5, 2:22 PMVANCOUVER, BRITISH COLUMBIA--(Marketwire - June 5, 2008) - Fortune River Resource Corp. (TSX VENTURE: FRX.V)(FRANKFURT:RG7A) today released preliminary gold assays from the remaining seven drill holes completed at the company's 100% owned East Manhattan low-sulfidation gold/silver project. The project, which consists of 84 claims (approximately 680 hectares), is located in Nevada's Nye County at the eastern edge of the Manhattan Mining district (historic production estimated to be approximately one million ounces of gold) and approximately 19 kilometers southeast of the Round Mountain mine (reported production of +10 million ounces of gold and reserves of approximately four million ounces of gold). Royal Standard Minerals is currently conducting underground test mining at its Goldwedge development project, located approximately five kilometers to the west of the East Manhattan project.
The first-phase program consisted of 2,091 metres in 12 reverse-circulation drill holes (see figure below) that tested five of the multiple vein zones on property. Preliminary gold assays are shown in the table below. Hole EM08010 is particularly encouraging as it contains two significant intervals: 11.25m of 2.868 g/t Au at 91.4m depth followed by another 11.25m of 0.805 g/t Au at 118.9m depth. In addition, hole EM08007 contains several zones of gold mineralization, with the best being 1.19m of 2.430 g/t Au at 77.7m depth. Gold assays for the first four holes, reported on May 13th, are also encouraging, particularly holes EM08002 and EM08003, which were drilled from a shared site. EM08002 contains 7.2m of 1.41 g/t Au, including 1.2m of 6.31 g/t Au (gravimetric rerun is 2.84 g/t Au), at 50.3m depth and EM08003 contains 5.1m of 2.08 g/t Au, including 1.7m of 3.85 g/t Au (gravimetric rerun is 3.31 g/t Au), at 77.7m depth. Hole EM08003 cut the mineralized zone approximately 43m down dip from EM0802. Results indicate that the central vein zone, with veins dipping north in holes EM08002, 003 and 007, and dipping south in EM08010, may delineate the primary conduit for gold-bearing fluids. To view the map accompanying this release please click on the following link: http://media3.marketwire.com/docs/0605frx.jpg
East Manhattan Project - 2008 Drilling Program - Phase I
Intervals +0.5 g/t Au
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Esti-
Begin End Metall- mated
Total inter- inter- Inter ics True
Depth Orient- val val val Au Au Ag Thick-
Drill Hole (m) ation (m) (m) (m) (g/t) (g/t) (g/t) ness
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EM08001 232 -45,140 116 119 3.0 0.774 0.99 NSV 1.5
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160 163 3.0 1.11 0.92 NSV 1.5
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EM08002 158 -45,210 50 61 10.7 1.409 1.11 NSV 7.2
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including 50 52 2.0 6.31 2.84 7.9 1.2
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EM08003 215 -75,210 78 87 9.1 2.078 1.90 pend- 5.1
ing
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including 78 81 3.0 3.846 3.31 pend- 1.7
ing
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EM08004 98 -50,150 NSV NSV
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EM08005 183 -45,230 NSV NSV
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EM08006 155 -45,210 NSV pend-
ing
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EM08007 139 -75,150 78 81 3.0 2.430 pend- 1.2
ing
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91 94 3.0 1.048 pend- 1.2
ing
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EM08008 137 -50,030 44 46 2 0.960 pend- 1.2
ing
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EM08009 210 -60,030 11 15 4 0.670 NSV 2.3
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46 47 2 0.638 NSV 0.8
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EM08010 166 -50,000 35 37 2 0.539 pend- 1.3
ing
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91 105 14 2.868 pend- 11.3
ing
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including 93 104 11 3.385 pend- 8.7
ing
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119 133 14 0.805 pend- 11.3
ing
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EM08011 221 -45,189 NSV pend-
ing
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EM08012 177 -48,180 NSV pend-
ing
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2091 Total drilled (metres)
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Inspectorate Original, Duplicate collected at rig every 15m w/ assay by ALS
Chemex.
NSV equals No Significant Values (less than 0.5 g/t Au and less than 10 g/t
Ag)
Assays in italics are preliminary values
President Joe Kizis commented, "Hole EM08010, along with holes EM08002 and EM08003, contain encouragingly thick zones of precious metals mineralization at relatively shallow depths along the central vein zone. The next drill program will test the gold system down dip and along strike. Metallic Screen assays indicate that free gold is present, as it is elsewhere in the district, and we are evaluating drilling techniques that will minimize the chance of losing free gold due to the drilling method during our follow-up work." In other news, drilling continues at Wind Mountain. Hole WM08022 was recently completed at 404m, intersecting similar alteration as in earlier holes. Drilling is very slow due to the extreme hardness of the silicified rock. Preliminary gold assays for hole WM08020 have been received with two zones containing +0.3 g/t Au within a very thick zone (253m) of anomalous gold (averaging 0.236 g/t Au). Beginning at 154m there is 33.5m averaging 0.535 g/t Au and beginning at 204m there is 25.9m averaging 0.360 g/t Au. Silver values have not been received. Wind Mountain is being acquired via an earn-in agreement with Agnico-Eagle (USA) Limited, a subsidiary of Agnico-Eagle Mines, Limited. About Fortune River Resource Corp. Fortune River Resource Corp. is exploring for high-grade gold deposits within two prolific gold producing geologic provinces, Nevada and Ontario. The Wind Mountain, East Manhattan, Highland, Baxter, Mud Springs, and Buz projects are located in Nevada and the Drayton project is located in Ontario. Joe Kizis Jr., (P.Geo.) is the Qualified Person responsible for reviewing the technical results reported in this release for Nevada properties. On behalf of the Board, Joseph Anthony Kizis, Jr., President Fortune River Resource Corp. We seek safe harbor. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.ContactsJay Oness Fortune River Resource Corp.
(604) 641-2771
Email: corpdev@mnxltd.com
Website: www.fortuneriver.ca
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