Seven drill holes at the NW Array prospect have returned multiple intersections, with drill hole 22TRCR008 intercepting a total of 112.8m @ 1.03 g/t Au including 89.9m @ 1.2 g/t Au demonstrating the existence of a shallow body of gold mineralisation of robust open-pit tenor.

Felix Gold (ASX:FXG) chairman Ronnie Beevor says it is these very systems at scale, that the Fairbank District within Alaska, US holds and one that the company is seeking to delineate and commercialise.

Results are located in a 0.4km x 0.6km zone of a broader 2.5km x 2.5km gold-in-soil anomaly in this area, with the deepest drill hole to date only 115m vertical depth.

The drill program is ahead of schedule with 11,700m in 114 holes completed to date, and – importantly – that drilling is ongoing targeting up to 15,000m and 150 holes in 2022.

‘A significant day’ for Felix

“This is a significant day for Felix in being an initial realisation of the world-class potential that our Fairbanks tenure holds,” Beevor explains.

FXG managing director and CEO Joe Webb says the Felix team undertook the largest consolidation of tenure in the history of the Fairbanks Gold Mining District.

“Felix Gold is aiming to discover its own multi-million ounce gold deposit and also has one eye on Fort Knox’s public statement in relation to their need for more ore.

“We are in our first year of drilling, hitting multiple targets across Fairbanks on pursuit of +2 zones for follow up drilling in 2023.

“There are a number of proven ore body finders behind the play and we like the potential for multiple development pathways,” he says.

“Fairbanks has an extraordinary history of gold production (+16Moz and counting) that has been relatively underexplored for lode deposits.

“With only 9 holes of up to 150 holes this year released to market, we are looking forward to seeing the assay results for the remainder of the year.”

Drilling results include

The results from Felix’s drilling include 22.8m at 0.35 g/t gold from 1.5m and 89.9m at 1.20g/t gold from 32m in Hole 22TCR008, while hole 22TCR005 hit 33.5m at 1.63g/t gold from 1.5m, including 1.50m at 19.7g/t gold from 12.2m.

Other hits included 29m at 0.69g/t gold from 1.5m, 25.9m at 0.43g/t gold from 36.6m, and 9.10m at 0.72 g/t gold from 61m.

This initial drill program at Treasure Creek is progressing swiftly with around 11,700m of drilling in 114 RC holes completed since the program kicked off in late April.

This represents excellent average daily drilling progress of 180m, well above the targeted 100m per day for this program.

So far, assays have only been returned for a total of nine holes of the 2022 exploration program but there is an extensive pipeline of results through H2 2022.



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.