Felix recon drilling unlocks new gold zone at Treasure Creek

Reconnaissance drilling at Felix’s Treasure Creek project in Alaska has returned thick, shallow intercepts of gold mineralisation in an area with no historical drilling.

Drilling at Recon Line 4 demonstrated significant shallow mineralised zones north of the Scrafford Shear with notable results such as 25.9m grading 1.01 grams per tonne (g/t) gold from a downhole depth of 74.7m (22TCRC047) and 3m at 12.77gt gold from 22.9m (22TCRC105)

Likewise, drilling at Recon Line 5 to test for shallow gold mineralisation in the northern part of the NW Array prospect area returned notable hits of 9.1m at 0.57g/t gold from 61m including 3m at 1.24g/t gold (22TCRC093) and 15.2m at 0.94g/t golf from 15.2m (22TCRC098).

Felix Gold (ASX:FXG) managing director Joe Webb said the results build the company’s pipeline of potential significant gold discoveries at Treasure Creek.

Positive Recon

“These two northern reconnaissance lines at Treasure Creek evidence that the large-scale hydrothermal gold system continues northwards from the currently defined NW Array prospect, as well as identifying a new zone further north of the previously identified Scrafford area,” he added.

“Discovery of new gold mineralisation in the latter is highly significant, because this area had demonstrated no geochemical anomalism due to thicker permafrost cover.”

Assays are pending for a further 50 reverse circulation drill holes and four cores completed at the project during 2022.

Planning for the company’s exploration in 2023 will include these new targets as well as focusing on the more advanced southern NW Array and Scrafford-Eastgate prospects.

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.