Felix strikes sweet Alaskan gold at Treasure Creek
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Drilling at Felix Gold’s NW Array deposit of Treasure Creek has uncovered gold hits of up to 6.4g/t and identified extensive zones of mineralisation.
A 45-hole RC drilling campaign for 4,278m has been completed at the NW Array target area of the project in the Fairbanks Gold Mining District in Alaska.
Assays from an initial 11 drill holes have been returned showing hits such as:
Felix Gold (ASX:FXG) is the largest tenement owner in Fairbanks and is aiming to delineate a commercial resource which could provide additional ore supply to Kinross Gold’s (TSX:K) Fort Knox mine with mineral reserves at 0.37g/t of gold.
By exploring the near-surface and oxide resources, Felix seeks to establish a low capex/opex open-pittable ore supply.
Felix has an exploration target of 19Mt to 23Mt at grades of between 0.4 grams per tonne and 1.1g/t gold – or a potential contained gold resource of 270,000oz to 890,000oz in the Southern Zone of the NW Array target. Current drilling will provide information for the Company to start to convert this target into a Maiden JORC resource.
Ongoing drilling will now focus on the Traverse Prospect East near the Scrafford prospect.
“Our team has again excelled in the field, delivering more holes and metres than planned. I am pleased to report results from the initial 11 holes of our recently completed 45-hole program for 4,278 metres at the NW Array target.
“Consistent with last year’s program, these initial results confirm the continuity of wide intersections of near-surface commercial-grade gold mineralisation, and our team is gaining a better understanding of the structural orientation and controls of the system.
“With another 34 holes pending assay results, I expect to progressively update investors throughout the month of July.”
Managing Director and CEO Anthony Reilly will present an investor briefing next Thursday 13th July at 12pm (AEST) where he will discuss the assay results in more detail, registration details can be found here.
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.