Felix extends Scrafford Shear gold potential, starts antimony assaying

Felix Gold has received further assay results which have expanded the gold potential of the Scrafford Shear within its Treasure Creek in Alaska.

Notable results from drilling are 32m grading 0.5 grams per tonne (g/t) gold from a down-hole depth of 114.3m including 9.1m at 1.17g/t gold from 114.3m along with 18.3m at 0.57g/t gold from 150.9m (22TCRC039), and 3.1m at 1.71g/t gold from 18.3m (22TCRC032).

Step-out drilling at the NW Array Southern Zone also shows continuation of gold mineralisation over an area ranging between 150m and 250m to the east.

Felix Gold (ASX:FXG) has also noted an increase in visual antimony mineralisation logged in reverse circulation chips and diamond core from its 2022 drilling at Treasure Creek and has started the assaying process for high-grade antimony.

There is good reason for the company to be excited given that the Scrafford Shear hosted Alaska’s second largest historical antimony mine with grades of up to 58% as part of a large gold-antimony mineralised system at the project.

“Today’s results further highlight the extensive scale of the Treasure Creek system. Our key objective is the discovery of multi-million ounce gold deposits in the Fairbanks Gold Mining District and our drilling results at Treasure Creek to date have significantly advanced this aim,” managing director Joe Webb said.

“Increased logging of visual antimony in drill chips and core from our 2022 drilling at NW Array, Scrafford and Eastgate is a further feature of the Treasure Creek Project which we are now seeking to progress more actively.

“As part of these initiatives, Felix has commenced assaying for antimony across all relevant chip and core samples obtained from 2022 drilling to deliver sharper empirical context to the opportunity.”

Drill results and antimony initiatives

The 18-hole program at the Scrafford Shear tested the near surface gold mineralisation extent of the Scrafford Shear, a 8km structural zone extending from Line 18 in the east to the Wildcat prospect in the west.

Interpretation supported by geophysics and recent drilling demonstrates that it is repeated several times through a series of thrust faults and opens an extensive +15km equivalent strike zone of gold mineralisation.

Treasure Creek is also known to host substantial antimony mineralisation, with the company electing to undertake a new assay program to target the potential high-grade zones of antimony.

Antimony is a silvery, brittle metalloid valued for its anti-corrosion properties which strengthen everything from nuclear energy facilities to batteries and wind turbines.

It is also used in the defence sector and in high tech devices like smartphones, semiconductors, cars and computers.

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.