Business
Forty Pillars Mining Proposes to Acquire Wishbone Project From Origen Resources
VANCOUVER, British Columbia, Oct. 06, 2021 (GLOBE NEWSWIRE) -- Forty Pillars Mining Corp. (the “Company” or “Forty Pillars”) (CSE: PLLR) is pleased to announce
About this update from Forty Pillars Mining Corp
[{"type":"text","content":" VANCOUVER, British Columbia, Oct. 06, 2021 (GLOBE NEWSWIRE) -- Forty Pillars Mining Corp. (the “Company” or “Forty Pillars”) (CSE: PLLR) is pleased to announce that it has entered into an agreement with Origen Resources Inc. (“Origen”) (CSE: ORGN FSE: 4VXA), to acquire a 100% interest in its Wishbone property (“Wishbone” or “Property”) located in the heart of the Golden Triangle, B.C. “We are very pleased to be adding this quality gold asset to our portfolio, which is the next important step in executing our business model. The Wishbone project presents a unique opportunity for Forty Pillar shareholders to benefit from the rising gold activity in the Golden Triangle B.C. area,” states Company CEO Nader Vatanchi. Wishbone Property The 3,971 ha Wishbone property is located 40 km west of Highway 37 and the Bob Quinn airstrip. The Property consists of 10 claims and is contiguous to the eastern boundary of Teck/Newmont’s Galore Creek copper-gold mineral development project which is one of the world’s largest undeveloped copper-gold-silver deposits1. Wishbone contains a series of gold and silver quartz-carbonate vein and breccia occurrences over the nearly 12 km length of the claims. Glacier retreat in recent years has exposed between 50 and 500 metres of unexplored area. Recent exploration in these areas has resulted in the discovery of a new gold and silver prospect area called the “Rat” which returned numerous high-grade gold and silver values from grab and float samples. (Origen news release dated November 9, 2020) Gold values ranged from 0.001 to 175.7 g/t in the 79 rock samples collected at the Rat prospect in 2020. The following table includes highlights that show how important the coarse gold fraction is particularly for veins hosted in the more brittle rocks. Table 1: Rat Prospect Highlighted Samples – Total Metallic Screened Gold Grades Sample ID Total Au g/t %Au in + %Au in – Target Type WMHR-007 175.7 13.5% 86.5% Boulder Train Float WMHR-019 36.3 70.0% 30.0% Qtz, Fe-carb Bx Grab WSM-006 44.4 47.2% 52.8% Boulder Train Float WSM-007 14.4 4.6% 95.4% Boulder Train Float WMHR-008 11.4 41.2% 58.8% Boulder Train Float *Grab samples are by nature selective and should not be relied upon. They are collected during prospecting and reconnaissance work to char...