Felix Gold strikes more near-surface gold at aptly-named Treasure Creek project

Drilling has returned further very thick, near-surface gold intersections and extended the mineralisation footprint of the NW Array at Felix’s Treasure Creek project in Alaska.

Notable results are 30.5m at 0.4 grams per tonne (g/t) gold from a down-hole depth of 1.5m and 89.9m at 0.97g/t gold from 45m including 41.1m at 1.72g/t gold from 59.4m in hole 22TCRC078 and 38.1m at 0.75g/t gold from 51.8m including 24.4m at 1.08g/t gold.

This expands the NW Array’s Southern Zone mineralisation footprint to about 750m north to south and about 400m east to west. Mineralisation remains open in all directions save the west.

Given that assays are still pending for a further 123 completed drill holes in the Phase 1 drill program, it is safe to say that Felix Gold (ASX:FXG) might have more expansions to come in the near future.

“NW Array is quickly building into a significant gold discovery. Today’s results expand the southern mineralised gold zone by over 150 metres further east,” managing director Joe Webb said.

“This enlarged footprint, combined with the shallow nature of the intercepted mineralisation, further builds support for the potential existence of a near-surface open-pittable gold deposit of substantial scale.”

He added that the results from 22TCRC078 demonstrate the thickness and gold tenor potential of the area.

Treasure Creek drilling

Felix’s Phase 1 drilling at Treasure Creek consisted of shallow reverse circulation drilling to test large-scale gold soil geochemistry anomalies at multiple prospects.

Results to date have intersected broad zones of bulk tonnage gold, which regularly contain substantial thicknesses of higher-grade gold mineralisation.

Current work is aimed at confirming the continuity of mineralisation and grade.

Data from the 2022 RC drilling program will be supplemented by detailed structural observations from the diamond drill hole program and recent geophysics survey, which could in turn result in more robust estimates of contained gold mineralisation.

The Recon Line 3 drilling at the Scrafford-Eastgate target also confirmed the widened expanse of demonstrated gold mineralisation zones in the Treasure Creek gold.

Coming activity

Follow-up and extensional drill testing is planned to focus on the zones of gold mineralisation with the highest potential for encompassing delineated gold resources.

A follow up drill program is planned at Scrafford-Eastgate for 2023 to confirm the continuity of gold mineralisation in the approx 300m x 1100m zone outlined by the Recon Line 3 area results.

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.