Freshly listed Felix Gold is keen to kick off drilling in the Tintina gold province
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Felix Gold is listing today and MD and CEO Kylie Prendergast says the company is ready to hit the ground running in Alaska.
The company is targeting the discovery of multi-million ounce deposits in the Fairbanks District of the Tintina Gold Belt – a region that’s had explorers and geos frothing since it was discovered 100 years ago.
“We’re focused on a set of really high-quality assets in the Fairbanks gold district in Alaska, it’s basically part of the Tintina gold province – so if you’re a geologist, it’s very famous,” Prendergast said.
“There’s just huge gold deposits there, Barrick’s (NYSE:GOLD) got the Donlin Creek project which is in excess of a 30 million ounce reserve, Northern Star (ASX:NST) are in Alaska, and they operate the Pogo mine, which is another plus 10 million ounce deposit.
“And then there’s a couple of really interesting parties in the actual Fairbanks area, Kinross (NYSE:KGC) have the Fort Knox mine, which has been operating for 25 years, so it’s a big tier 1, plus 10 million ounce deposit, and then there’s another company called FreeGold Ventures (TSX:FGL) who’ve got another multimillion ounce gold deposit.”
And Felix Gold (ASX:FXG) has come in and consolidated a large land position right next to that Fort Knox production centre with four projects: Treasure Creek, NE Fairbanks, Grant-Ester and Liberty Bell.
“Felix have consolidated about 50% of the tenure in the Fairbanks area – it’s quite audacious, actually,” says CEO Kylie Prendergast.
“It’s the biggest gold production area in Alaska and we believe that a lot of hard rock hasn’t been adequately tested through there.
“And there’s only two gold production centres in the Tintina belt in Alaska – Pogo and Fort Knox – and we have picked up 50% of the main gold trend in the headframe of Fort Knox.”
The company IPO’d at $10m at $0.20 and with $2m in the bank, are well funded to kick off drilling at all four projects.
“We are all about drilling,” Prendergast said. “We’ve got a drill rig booked, and we’re looking to drill hopefully 10-15,000m, testing 10-15 really high conviction targets.
“As part of the consolidation exercise, we were able to identify a lot of existing gold anomalies and historical drill holes that are around 30 years old that have never been followed up.
“So, we are able to basically walk up and drill some of these historical targets.
“We also did a huge soil sample survey last year, and that’s identified all these new areas – we want to follow those up as well.”
The company is chaired by Ron Beevor who is currently chair at Bannerman Resources (ASX:BMN), plus there’s non-executive director Andy Browne who’s well known for his discovery of NexGen’s Giant Arrow uranium deposit.
Not to mention the VP exploration Dave Larimer who was previously chief geologist at Pogo, and also worked for Teck Resources (NYSE:TECK).
“We really stacked the odds in our favour in terms of assembling a really good team,” Prendergast said.
“We’re not just an explorer and discoverer, we’re coming to the table with a really premier asset base because we’ve got existing resources on the books, and we’ve consolidated all these old licences with historical work on them.
“Our sum is much more than our parts now.”
This article was developed in collaboration with Felix Gold Limited, 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.