Treasure Creek turns up multiple near-surface intercepts for Felix Gold

Drilling at Felix’s Treasure Creek project in Alaska has returned multiple near-surface intercepts which indicate a 1km south-westerly extension of the Eastgate Central Zone.

Assays such as 12.2m grading 2.65 grams per tonne (g/t) gold from a down-hole depth of 73.2m including 3.1m at 9.92g/t gold (22TCRC057) and 3m at 3.2g/t gold from 36.6m (22TCRC012) were returned from 11 holes on the Treasure Creek Reconnaissance Line 1.

Importantly for Felix Gold’s (ASX:FXG) first foray into outright reconnaissance drilling at Treasure Creek, the results open up a large new gold zone between two multi-km long structural corridors about 2km southeast of previously reported assays at the North West Array Southern Zone.

More news to come

There is also plenty of drilling news to come given that assays have only been reported for 20 of the 131 drill holes at the project with earlier assays from the NW Array demonstrating the existence of a shallow body of gold mineralisation that could support an open pit.

Managing director Joe Webb said the results are significant as they show multi-kilometre extensions of the Eastgate Central Prospect to the south-west and significantly open-up another previously untested multi-kilometre mineralised zone.

“The results are even more significant in the broader context of the Fairbanks Gold Mining District, where Kinross’s Fort Knox operation is planning to truck ore in from up to 500km away from 2024,” he added.

“Fort Knox is also currently mining the local Gill Mine at average grades of approximately 0.55 g/t Au.

“Felix’s maiden drill program results amply demonstrate that the Fairbanks Gold Mining District remains relatively underexplored, with the growing potential for large-scale gold deposits with multiple potential commercialisation pathways.”

Results highlight potential scale

The underexplored Eastgate Central Zone is interpreted as part of a +4km structural corridor running along the southern extent of the Treasure Creek Project and has seen just four drill holes and limited trenching when exploration was carried out in the 1990s.

This work, which yielded very high grades in trenching of up to 5m at 69.22g/t gold and drill hits of up to 25m at 1.02g/t gold from surface, had defined the Eastgate Central Zone to the southern extent of the Treasure Creek Project.

For the drill program to intersect mineralisation in the potential 1km extension of the zone and highlight the gold-bearing potential of the cross-cutting structural connection between the Eastgate and Scrafford Shear Corridors given the limited previous work is encouraging indeed.

This article was developed in collaboration with Felix Gold, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.