VANCOUVER, BRITISH COLUMBIA, Jun 18, 2012 (MARKETWIRE via COMTEX) — Fortunate Sun Mining Company Ltd. (“Fortunate Sun” or the “Company”) /quotes/zigman/7905440 CA:FSM 0.00% is pleased to announce that the Company has completed a diamond drilling program on its Golconda gold project located in Southern Sonora State, Mexico. Fortunate Sun may earn a 100% interest in Golconda from Minera Coplau, S.A. de C.V. by spending $2,500,000 in exploration and making cash and share payments to Minera Coplau over a four year period.
A total of 731 metres of diamond drilling was completed in 9 holes of HQ diameter. These holes were designed to serve as due diligence drilling to confirm historical intercepts as well as test various depths of a gold epithermal vein system. Drilling tested and intersected several quartz veining and stock-work sections along an approximate 130 metre strike length and to a vertical depth down to approximately 75 metres. Several drill holes encountered multiple zones of quartz-pyrite mineralization. The company is currently in the process of logging and submitting samples to the assay prep lab in Hermosillo.
“This initial drill program will provide significant benefit to our current understanding of the mineralization of the system and structural interpretation of the property more specifically the Golconda vein,” said Kristian Whitehead, VP Exploration.
Assay results from these core holes will be reported once received and interpreted by the Company.
On behalf of the Board of Directors
Reg Advocaat, President and CEO
This news release may contain forward looking statements including but not limited to, information regarding geological interpretations, resources, potential timing and content of exploration programs, production schedules and projections, receipt of permits, company financings etc. Forward looking statements refer to events and conditions which have not yet taken place and therefore involve inherent risks and uncertainties. Actual results may differ materially from those anticipated in these statements. Fortunate Sun relies on litigation protection for forward looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Fortunate Sun Mining Company Ltd.
President and CEO