Felix uncovers new gold zone at its well-named Treasure Creek project

Felix’s Treasure Creek project is proving to be aptly named with new results from its initial drill program identifying a further new shallow gold zone.

Seven holes drilled on Treasure Creek Reconnaissance Line 2, which was designed to test targets between the multi-kilometre Eastgate and Scrafford shears, returned results such as 7.6m grading 6.48 grams per tonne (g/t) gold from a down-hole depth of 50.3m (22TCRC036).

The new discovery follows on drilling at the NW Array returning broad zones of mineralisation which Felix Gold (ASX:FXG) believes could represent a potential near surface bulk tonnage resource.

This string of successes means that the pending assays from the remaining 116 completed reverse circulation drill holes in its Phase 1 program at Treasure Creek in Alaska will be watched that much more closely for further gold intersections that could deliver further mineralisation.

New gold zone

Felix’s initial drill program at Treasure Creek was aimed at testing large-scale, high-grade (+100 parts per billion gold) soil geochemical anomalies at multiple prospects.

That this intersected gold in previously untested areas between the Eastgate and Scrafford Shear prospects not only opens up a new gold zone several kilometres east of the NW prospect, it also suggests connectivity in this area with previously disclosed results about 1km to the west on Reconnaissance Line 1.

The company adds that the results substantiate its expectations that substantial bulk tonnage and high-grade shallow deposits are present within the project.

Planning of follow-up and extensional drill testing is underway to focus on the zones of gold mineralisation with the highest potential for encompassing significant verifiable gold resources.

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.