North of 60 Mining News - The mining newspaper for Alaska and Canada's North

Cutting 28.9 meters averaging 1.43 grams per metric ton gold in its second hole, Felix Gold Ltd. is off to a strong start at its Treasure Creek project a few miles north of Fairbanks, Alaska.

Felix is an Australian mineral exploration company that was founded specifically to explore for gold in the Fairbanks Mining District, which was discovered by the company's namesake, Felix Pedro, in 1902.

Early in 2022, Felix entered into a strategic alliance with Millrock Resources Inc. on the Treasure Creek and Ester Grant gold properties in the Fairbanks District, plus the Liberty Bell project about 70 miles to the southwest.

To fund its initial exploration of these Alaska assets, Felix completed a A$10 million (U$7.1 million) initial public offering and listed on the Australian Securities Exchange in January.

With its treasury full, Felix began drilling at Treasure Creek in late April.

Situated about 13 miles west of Kinross Gold Corp.'s Fort Knox Mine, Treasure Creek hosts numerous prospects with interesting drill intersections reported by previous explorers on the property. Roughly 2,000 soil samples collected by Felix and Millrock geologists last year identified two key targets for 2022 drilling – Northwest Array and Eastgate.

Felix' inaugural drill program started with shallow reverse circulation holes at NW Array.

The company has now received assays from the first two holes of this program.

The best results were encountered in hole 22TCRC002, which cut 29 meters averaging 1.4 g/t gold from a depth of 24.4 meters and 12 meters averaging 0.54 g/t gold from 70.1 meters.

Hole 22TCRC002 was drilled 200 meters south of the nearest historical hole at NW Array. The historical hole, 83515, cut 3.3 meters averaging 2.21 g/t gold from 60.7 meters and 2.7 g/t gold from 72.5 meters.

Click to enlarge photo.

Felix said it plans to quickly follow up on 22TCRC002, which represents a zone of shallow gold mineralization that is open to the south, east and west.

The first hole, 22TCRC001, cut two anomalous intercepts – 3.1 meters averaging 0.16 g/t gold from 7.6 meters and 3.1 meters averaging 0.2 g/t gold from 22.8 meters.

These holes represent the first 146 meters out of 6,656 meters of RC drilling that Felix has completed at Treasure Creek as of June 22.

"This is an excellent start to our drilling activities at Treasure Creek," said Felix Gold Managing Director and CEO Joe Webb. "With another 6,400 meters of drilling already pending assay return, and being only two months into a planned initial five-month drill program, we look forward to a strong pipeline of further drilling results through the second half of this year."

Author Bio

Shane Lasley, Publisher

Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.

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