The Svetloye Gold Project is located in the Khabarovsk Region of eastern Russia approximately 750km west of Magadan, close to the port of Okhotsk. Based upon preliminary results, there appear to be two potential geological gold target types at Svetloye; a large, low-grade disseminated resource and narrower high grade structurally related resource. There are extensive zones of vuggy silica, alunite and late stage veining. This style of mineralization is common to Pierina and other 'high sulphidation' epithermal deposits. The rocks are oxidised to a depth of approximately 80m -150m based on the drilling to date. Seven oxidised gold zones outcrop: Elena, Larissa, Tamara, Gorki, Ludmilla, Bill and Amy.
At the Elena target, highlights include drill hole PDSC-036, which returned 43.1 metres grading 9.06 grams per tonne gold, including 24.4 metres grading 14.38 grams per tonne gold (note that PDSC-036 was drilled from the same collar location (within 5 metres) and at the same angle as PDSC-005, which was drilled by the previous operator, and confirmed the grade of PDSC-005: 38.2 metres grading 8.92 grams per tonne gold). In addition, PDSC-044 returned 69.6 metres grading 2.17 grams per tonne gold, including 16.9 metres grading 3.91 grams per tonne gold and PDSC-045 intersected 65.0 metres grading 2.47 grams per tonne gold, including 20 metres grading 4.59 grams per tonne gold. Drill hole PDSC-47, returned 34.7 metres (0 to 34.7m) grading 3.59 grams per tonne ("g/t") gold and 50.7 metres (50.7 to 101.3 m) grading 2.11 g/t gold. In addition, PDSC-048, the most northeasterly hole for which assays have been received and a hole that failed to penetrate below 36.1 metres, returned strongly mineralized values throughout (36.1 metres grading 1.05 g/t gold) indicating that mineralization extends beyond the limits of current drilling to the northeast. See the Nov. 1, Aug. 17, Jun 27, and Jan. 18, 2007 news releases for a complete tabulation of results for drilling by Fortress Minerals.
The first hole drilled by Fortress at the Tamara target, PDSC-049, returned 46.4 metres grading 8.85 grams per tonne gold, including 10.1 metres grading 38.48 grams per tonne gold. This hole was drilled across a structure that had been previously trenched, which returned 3.90 grams per tonne gold over 50.5 metres.
Work carried out on the Svetloye project has identified a 7-square-kilometre zone of epithermal gold mineralization. Gold is associated with extensive zones of vuggy silica, alunite and late stage veins. This style of mineralization is common to Pierina, Veladero and other 'high sulphidation' epithermal deposits. The rocks are oxidized to a depth of approximately 80 -150 metres based on the drilling to date.
