Felix expands near-surface gold at Eastgate Central Zone

Assay results from Felix’s drilling at its Treasure Creek project in Alaska have expanded the near-surface gold mineralised area at the Eastgate Central Zone to about 1km length.

Notable results from the 13 holes returned to date are 6.1m grading 3.74 grams per tonne (g/t) gold from 13.7m down-hole including 1.5m at 8.73g/t gold from 15.2m (22TCRC113), 6.1m at 3.22g/t gold from 62.5m including 1.5m at 11.4g/t gold from 64m (22TCRC022), and two intervals of 41.1m at 0.31g/t gold from 79.2m and 53.3m at 0.47g/t gold from 129.5m in 22TCRC122.

These follow on recent near-surface gold assays from the Treasure Creek Reconnaissance Line 1, which indicate a 1km southwesterly extension of the Eastgate Central Zone and highlight the strong potential of Felix Gold’s (ASX:FXG) Treasure Creek project.

The latest results are about 3km southeast of the NW Array Southern Zone and 1km east of the Treasure Creek Reconnaissance Line 1.

Assays are pending for a further 98 reverse circulation drill holes in the company’s maiden drill program.

“These results support the potential for large-scale, open pittable gold deposition as well as demonstrating the high-grade nature of select portions of this mineralisation,” managing director Joe Webb said.

“What the results to date across Treasure Creek have evidenced is the sheer scale potential of the gold systems we are discovering and seeking to delineate there. It is exciting to be substantiating the exact sort of opportunity that saw us pursue the Treasure Creek tenure, and our broader Fairbanks District claims, in the first place.

“Our target remains the same – rapid delineation of a world-class scale gold resource in the premium Fairbanks Gold Mining District. These results represent another meaningful step in that direction.”

Eastgate Central Zone

Eastgate Central Zone is interpreted as part of a +4km structural corridor along the southeastern extent of the Treasure Creek project.

Prior to Felix’s entry, the last historical exploration was undertaken in the early 1990s where only four drill holes and limited trenching has been completed.

This trenching returned very high grades of up to 5m at 69.22g/t gold while drilling intersected a 25m zone at 1.02g/t gold from surface.

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.