Northway Resources Corp. Sept. 10 reported that recently completed geochemical and geophysical surveys have identified some very compelling exploration targets on the company's Healy gold project in Alaska's Goodpaster Mining District.

Healy was first identified by Newmont Corp., which staked the property after carrying out four years of analysis across a large swath of Alaska's Eastern Interior region. Follow-up soil sampling by the major gold producer identified three 1,000- to 2,000-meter-long gold-arsenic-antimony anomalies on this property about 28 miles (45 kilometers) southeast of Northern Star Resources Ltd.'s Pogo gold mine.

Northway, which cut a deal with Newmont to earn up to a 70% joint venture interest in Healy by completing at least US$4 million of exploration on the property by the end of 2022, identified three additional gold, arsenic and antimony soil anomalies on the property during a 2019 field program.

This year's work included the collection of 1,820 infill soil samples, 136-line-kilometers of ground-based very low frequency (VLF) electromagnetic and magnetic geophysical surveys, and a 252-line-kilometer airborne magnetic survey.

Northway says the 50-meter-space soil sampling has clearly defined multiple robust gold anomalies within three of the previously identified target areas – Thor, Bronk and Spike.

The geophysical data, collected over the same target areas, delineate low-angle thrust faults and later high angle shear zones. Northway says these structural features are clearly associated with the gold identified with soil sampling and present excellent targets for future exploration.

"The results from the infill soil sampling program and geophysical surveys have produced very compelling exploration targets," said Northway Resources President and CEO Zach Flood. "The primary soil anomalies are extremely robust and clearly associated with both low angle and high angle structures previously mapped and now supported by the VLF data."

Northway Resources Corp.

The map on the left shows the results of soil sampling over the Bronk, Thor, and Spike targets. The map on the right shows the results from the electromagnetic survey carried out over the same area.

A follow-up induced polarization (IP) geophysical survey will be carried out over the Thor, Bronk, and Spike target areas in early September to provide critical sub-surface data for drill targeting.

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Shane Lasley, Publisher

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