There’s a lot more gold (and antimony) lurking within Felix’s Treasure Creek project
Link copied to
Further assays from Felix’s drilling have uncovered potential for considerably more gold and antimony mineralisation than previously thought at its Treasure Creek project in Alaska.
Notable assays from drilling at the NW Array prospect are 32m grading 0.69 grams per tonne (g/t) gold from a down-hole depth of 3m including 4.6m at 3.13g/t gold from 3m with 1.5m at greater than 5% antimony from 6.1m and another 1.5m at 2.03% antimony from 7.6m in hole 23TCRC176 and 9.1m at 1.18g/t gold from 96m in 23TCRC162.
Reinterpretation of the drilling information has allowed the company to effectively outline a north-northeast orientation for the mineralised gold zones, which also encompass zones enriched with high-grade antimony.
Importantly for Felix Gold (ASX:FXG), which describes the development as a significant milestone, the result unveils the potential for more extensive strike length and the prospect of additional parallel trends, supported by the continuation of soil anomalies.
The company also says that the primary gold mineralisation is open at depth and in various directions, whilst its drilling strategy is oriented towards defining near-surface oxide gold mineralisation with grades comparable to or exceeding present head grades at Kinross Gold’s nearby Fort Knox mine.
The continued intersection of antimony is also encouraging given its status as a critical metal thanks to its use in military applications and in a new type of battery.
Managing director Anthony Reilly said the company was delighted with the results from 17 additional holes at the project, noting that they carry substantial weight from delineating the north-northeast orientation of mineralised gold zones, including zones rich in high-grade antimony.
“Notably, drill hole 23TCRC177 was strategically placed along pre-existing access tracks to explore the potential for NE-trending mineralization,” he added.
“This drill hole yielded expansive mineralised zones located hundreds of meters away from the established primary gold zone which remains open.
“This achievement marks a significant milestone, opening a more extensive potential strike length and revealing the potential for parallel trends supported by soil anomalies.”
The company recently completed drilling 45 infill holes totalling 4,278m in the NW Array prospect and five target generation holes totalling 419m in the Scrafford extension area to progress its strategy of delineating a commercial resource at the Treasure Creek project to potentially supply ore to Kinross’ Fort Knox mine.
Results from the drilling at NW Array – particularly hole 23TCRC177 that was placed along pre-existing access tracks to explore the potential for northeast-trending mineralisation – brought to light the possibility of extending the strike length by more than 2km alongside the potential emergence of parallel trends.
These prospects are reinforced by the sustained presence of soil anomalies and fault zones, further emphasizing the significance of this development.
Assays are also pending for the five target generation holes at the Scrafford extension area.
Felix is holding an online investor briefing at 12pm (AEST) on 11 August 2023.
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.