Head start: Felix is right out of the blocks in Alaskan gold rush
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Felix Gold is racing off the blocks after listing on the ASX late last month with a drilling contractor engaged to start reverse circulation drilling at the Treasure Creek project.
The contractor Alaska Midnight Sun Drilling will drill up to 180 holes for about 5,000m to 8,000m from March to test large-scale, walk-up targets that are underpinned by multi-kilometre gold-in-soil anomalies.
Felix Gold’s (ASX:FGX) Treasure Creek play is one of four projects that the company holds in the highly prospective Fairbanks District of the Tintina gold belt, Alaska.
For fans of historic mining moments – the Tintina belt has been an attractive, highly prospective address for explorers since it was first discovered 100 years ago.
“We are excited that Felix has now commenced its listed journey. Our value proposition is simple – high prospectivity tenure in the world-class Fairbanks District of the Tintina Gold Province, strong cash backing post IPO and aggressive forthcoming drilling plans,” managing director Dr Kylie Prendergast said.
“We are seeking to discover Tier 1 gold deposits with the planned drilling program set to test our initial high-conviction targets across Fairbanks through until the December quarter.”
Besides testing large-scale soil geochemical anomalies at multiple prospects, the upcoming drill program at Treasure Creek will also include several deeper holes to follow up prospects containing historical drill intercepts with coincident geophysics and soil anomalies.
These include the 2km long NW Array anomaly where past drilling returned bulk tonnage gold intercepts that remains untested at depth and is open in multiple directions.
Scrafford-Eastgate is an induced polarisation geophysical feature that shows a strong correlation with gold-in-soil anomalies while Line 18 hosts historical trench and soil anomalism with no known historical drilling.
Wildcat is a further area of anomalous gold-in-soil, located at the conjunction of the Scrafford Shear and Eastgate ENE structural trends.
Felix’s Treasure Creek drilling is part of its broader plan to drill between 10,000m and 15,000m across its Fairbanks tenure through 2022.
This will test multiple target areas across the Treasure Creek, NE Fairbanks, Grant-Ester and Liberty Bell projects.
Any success could be quickly developed given the company’s land position right next to the Kinross’ (NYSE:KGC) Fort Knox mine that has been operating for 25 years.
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.