The company purchased the 70 unpatented lode claim project from Newcrest Resources Inc. in October 2007 and recently staked an additional 14 claims to control projections of veins under gravel cover to the east. The project now consists of 84 claims (approximately 680 hectares).
East Manhattan is located 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). In addition, 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.
Fortune River purchased the project from Newcrest for a one-time payment of US$45,000 and a commitment for 4,000 feet (approximately 1,200 metres) of drilling within 12 months. Newcrest will retain a 3% NSR, of which 1% NSR can be purchased for US$1,000,000 any time prior to commercial production.
2011 Drill Program
The 2011 drill program successfully extended shallow portions of the main mineralized zone to 425 metres of strike length. Three of the holes offset the company's best 2008 hole, EM08-010, which intersected a previously reported estimated true thickness of 11.25 m of 2.868g/t Au at 91.4m depth followed by 11.25m of 0.805g/t Au at 118.9m depth. As shown in the following figure and table, hole EM11-015C tested approximately 200m to the east of EM08-010, while EM11-015C tested the down-dip extension of mineralization in a second vein zone, which also contained several encouraging intercepts in the 2008 drilling program. The zone projects another approximately 870m to the east under thin gravel cover and will be tested in potential future drill programs.
Metallic screen assays for holes EM11-016 and EM11-017 determined that coarse gold was significantly under-reported in some intervals, with the largest discrepancy doubling the grade of a 2.5m wide vein zone from 0.647g/t Au (original fire assay) to 1.327g/t Au (metallic screen assay). Metallic screen assays are planned for other significant intervals. A table comparing the original to metallic screen assays is available here. The grades of mineralization encountered during this core program are similar to those intersected during the 2008 reverse-circulation drilling program, indicating that less-expensive R.C. drilling is adequate to further test shallow portions of the property in potential subsequent drill programs.
President Joe Kizis commented, "There remains good exploration potential at East Manhattan, both along strike to the east under shallow gravel and deeper at the unconformity between Tertiary felsic volcanic rocks and underlying metamorphosed Paleozoic sediments. Such unconformities often host the strongest mineralization in low-sulfidation gold deposits. Various geophysical methods may assist in further defining drill targets."
2008 Drill Program
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 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.
Click here for East Manhattan Project - 2008 Drilling Program - Phase I Intervals +0.5 g/t Au.
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."
