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Fortune Valley Releases Results Of Incahuasi Este Scout Drilling
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Vancouver, British Columbia - March 14, 2008 - Fortune Valley
Resources Inc. ("Fortune Valley Resources" or the "Company") (TSX-V:
FVX) announces the remaining results of its 2007 drilling campaign on
the Incahuasi project located in Region 3 in northern Chile.
A preliminary 12-hole reverse circulation scout drilling program on the
extensive 100 km2 Incahuasi Este area tested some of the known veins
with wide spaced or individual drill holes to gain better understanding
of the mineralized vein system identified previously by mapping and
rock chip sampling. Results included three anomalous intersections,
including 5 m @ 0.84% Cu in the Gonzalez vein.
The scout drilling confirms the dip extension of the surface vein
exposures and that structural continuity extends at depth. In addition,
the drilling indicates that the Incahuasi Este vein swarm is
structurally higher than the porphyry vein system intersected eight km
to the west at the Incahuasi Central area (press release dated February
15, 2008). This model suggests the Incahuasi Este vein system may be
underlain with a similar copper-gold porphyry system as drilled at
Incahuasi Central. A follow-up drilling program planned in April will
use the information from the scout drilling program to target
high-grade gold and copper vein systems as well as deeper copper-gold
porphyry-style mineralization.
Table 1 summarizes the drill result using a 0.2% copper cutoff grade
for drill intervals greater than three metres.
http://www.fortunevalleyresources.com/i/misc/table1-march14.jpg
http://www.fortunevalleyresources.com/i/misc/table2-march14.jpg
Mr. William C. (Bill) Howald, AIPG, Certified Professional Geologist #
11041, Fortune Valley Resources' VP Exploration & Corporate
Development, is the Qualified Person as defined under National
Instrument 43-101 responsible for the scientific and technical work on
the exploration program and is responsible for reviewing the technical
disclosure in this press release.
Mr. Shea Clark-Smith is overseeing the gold assay and geochemical
quality control and assurance programs for Fortune Valley Resources'
Incahuasi project. He is responsible for creating, administering, and
monitoring sample preparation and analytical QA/QC procedures for the
drilling program. The Company uses high-quality standards, duplicates
and blanks to determine the quality of the report assay and
multi-element determinations.
ALS Chemex performed all analytical testing using industry-standard
analytical techniques. Gold was analyzed using fire assay on a 50-gram
sample with an atomic absorption finish, and a gravimetric finish on
all results greater than 10ppm gold. Copper determinations were
completed using ICP-mass spectrometry for copper determination below 1%
copper, and four-acid digestion for values greater than 1% copper.
Fortune Valley Resources Inc. is a Canadian mining exploration company
focused on creating shareholder wealth through the acquisition,
exploration and development of high quality gold and silver projects in
Chile and
Argentina. The Company has assembled a highly experienced
Board of Directors and management team with proven technical and
commercial successes at some of the major gold mines and projects in
North and South America. Fortune Valley holds ownership interests in
approximately 54,000 hectares exploration concessions in Chile.
On behalf of the Board of Directors
Michael J. Gingles, President and CEO
For additional information contact:
Fortune Valley Resources Inc.
Ms. Karen Robb, Manager, Investor Relations
info@fortunevalleyresources.com
Phone 604-637-1268
Fax 604-637-1269
CHF Investor Relations
Mr. Robin Cook, Account Manager
robin@chfir.com
Phone: (416) 868-1079, Ext. 228
Fax: (416)868-6198
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
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Copyright (c) 2008 FORTUNE VALLEY RESOURCES INC. (FVX) All rights
reserved. For more information visit our website at
http://www.fortunevalleyresources.com/ or send
mailto:info@fortunevalleyresources.com
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