2010 Mining Explorers: Northern Freegold Resources Ltd.
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Last updated 10/31/2010 at Noon
NFR: TSX
Chairman and COO: Bill Harris
President and CEO: Susan P. Craig, M.Sc., P. Geo.
Chief Financial Officer: Glen J. Diduck, B.Comm. C.A.
Northern Freegold Resources Ltd., founded in 2006, is a precious metals exploration and development company focused on the development of economic mineral resources at the district-scale Freegold Mountain gold and copper project in the Yukon Territory, and at a gold and silver property in Arizona.
The Freegold Mountain Project is located in the Whitehorse Mining District about 70 kilometers northwest of Carmacks.
Freegold Mountain's district-scale land package covers an area in excess of 77 square miles, or 200 square kilometers.
By Aug. 10, Northern Freegold had spent C$3.5 million on exploration of the Nucleus zone, a 1.5-kilometer-by-1.2 kilometer, or 1-mile-by-0.75-mile, gold deposit with a 1-million-ounce inferred resource calculated in 2009, and the Revenue zone, a potentially 24-kilometer-long copper-gold anomaly.
The junior had drilled about 4,100 meters of the 5,500 meters planned at Revenue in the first phase and about 3,000 meters of the 4,500 meters planned at Nucleus.
While reverse circulation drilling tested the Revenue deposit to 150 meters, the junior also conducted a Titan 24 deep-imaging induced polarization survey in 2010 to detect any deeper mineralization in the deposit down to 750 meters.
Northern Freegold optioned its Tad-Toro properties located 25 kilometers, or 16 miles, northwest of Freegold Mountain to Dawson Gold Corp., a newly created junior exploration company. Dawson Gold aims to spend C$1.5 million to C$2 million in 2010 to drill targets, beginning in late August, at the 32-square-kilometer, or 7,907-acre, Tad-Toro Project, including three soil anomalies identified in the Nit zone.
Cash and short-term deposits: C$3.43 million (at June 30, 2010)
Working capital: C$3.04 million (at June 30, 2010)
Market capitalization: C$29.15 million (Sept. 10, 2010)
Suite 900, 475 Howe St. Vancouver, BC Canada V6C 2B3
Tel: 604-893-8757 Fax: 604-893-8758
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