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Fortune Valley Identifies New Silver-Rich Vein Zone At Incahuasi
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Vancouver, British Columbia -- March 26, 2008 -- Fortune Valley
Resources Inc. ("Fortune Valley Resources" or the "Company") (TSX-V:
FVX) announces it has identified a new silver-rich vein zone located
about 4km south of the main Incahuasi Este target area. Rock chip
samples assaying up to 694 ppm Ag and 4.53% Cu were collected from a
1-2m wide epithermal vein; the discovery appears to represent the
southern extension to the main 7 by 3 km Incahuasi Este vein system
delineated by the Company to the north. The new vein area has been
named Mina Plata.
Michael Gingles, President and CEO commented, "This is the third
mineralized vein area identified on the 100 square kilometre Incahuasi
property. The Incahuasi Este area continues to show a significant and
wide spread mineral system is present. The work now will focus on
finding the core of this extensive and prospective exploration area."
Mina Plata was discovered as part of an on-going target generation and
detailed mapping program. Additional mapping and sampling are underway
to understand how the Mina Plata vein connects with the main Incahuasi
Este vein system located roughly 4 kms to the north. The area between
the Mina Plata and the Incahuasi Este veins is covered with a thin
veneer of post-mineral colluvial material. The known vein areas will be
tested as part of the follow-up, phase-2 drill campaign at Incahuasi is
scheduled to start in April. A portion of the phase-2 drilling program
will be directed toward drilling scout holes in the covered areas.
The outcropping vein has a 340-azimuth orientation that has been
exploited by historic mine workings. The abandoned mine exposures show
the vein is between 1.2-metres to 2-metres wide. A total of 5
rock-chip channel samples were collected from the site and returned
silver values ranging from 57.2 ppm Ag to 694 ppm Ag across the vein.
In addition, the vein returned high-grade copper values ranging between
1.09% Cu to 4.53% Cu. Gold values are above detection but generally
low. Table 1 summarizes the results of the samples collected on the
Mina Plata vein.
Table 1: Results of Mina Plata rock-chip channel samples
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Sample Width Ag Cu Au
ID (metres) ppm ppm ppm
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11951 1.5 57.2 10,900 0.008
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11952 1.3 141.0 13,300 0.008
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11953 1.2 537.0 35,700 0.018
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11954 1.3 276.0 20,400 0.017
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11955 2.0 694.0 45,300 0.030
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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.
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.
Silver values were determined using an agua-regia digestion and
ICP-mass spectrometry.
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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