HENDERSON, Nev., May 31, 2011 /PRNewswire/ -- Fortune Oil and Gas,
Inc. (PINK SHEETS:FOGC) (http://www.fortuneoilandgascorp.com) is
pleased to announce that its mining subsidiary Alta Mining Inc. has
received a compilation report that gives more define overview and
reveals great exploration potential on mining property located in
the mining district of Kaslo, British
Columbia (BC).
The region targeted by Alta's management is known for its
potential for high grade silver deposits which, with appropriate
exploration work, could be potentially developed as producing mines
in near future.
Compilation reports underline that BC government assessment
files indicate that there has not been significant recent work in
the area and all reported work has been on small portions of the
overall property. Past work completed on and adjacent to the Alta's
Property have identified several areas for follow-up. The company
is already in the process of assembling a systematic modern
exploration program which should begin shortly and will take
advantage of the summer weather conditions. The compilation report
and interpretation of previously collected data for the property
was carried out by a Qualified Person with respect to National
Instrument 43-101.
Management is very encouraged by this report as it reconfirms
our initial belief that the property is located in a very favorable
area for hosting silver, and base metal deposits with prospective
areas for discovering economic silver mineralization.
The compilation report will be posted on www.otcverify.com web
site for readers' viewing.
More news and updates to follow.
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SOURCE Fortune Oil & Gas, Inc.