With metallurgical tests returning an average of 90% gold recoveries, Felix looks ahead to first resource calculation for emerging gold deposit.

Felix Gold Ltd. April 10 reported that recent metallurgical test work returned strong gold recoveries for the oxidized material within the Northwest Array (NW Array) target at Treasure Creek, which lays the groundwork for calculating a maiden resource for this gold-antimony project about 12 miles west of Kinross Gold Corp.'s Fort Knox mine.

Felix began assembling a large land package covering gold prospects around Fairbanks, Alaska, in 2020. A compilation of historical data and a comprehensive mapping, sampling, and prospecting carried out across its Faribanks District properties in 2021 revealed NW Array at Treasure Creek as a promising target to begin building a large near-surface gold resource.

Drilling carried out over the ensuing two years has outlined a 750- by 400-meter area of near-surface gold mineralization at NW Array that remains open in several directions.

Highlights from the 2022 and 2023 drill programs include:

• 33.5 meters averaging 1.63 grams per metric ton gold from a depth of 1.5 meters in hole 22TCRC005.

• 35 meters averaging 1.81 g/t gold from a depth of 16.8 meters in hole 22TCRC075.

• 41.1 meters averaging 1.72 g/t gold from a depth of 59.4 meters in hole 22TCRC078.

• 100.5 meters averaging 1.14 g/t gold from a depth of 21.3 meters in hole 23TCRC135.

• 70.1 meters averaging 1.6 g/t gold from a depth of 6.1 meters in hole 23TCRC138.

• 53.3 meters averaging 1.88 g/t gold from a depth of 30.5 meters in hole 23TCRC153.

• 54.9 meters averaging 1.8 g/t gold from a depth of 1.5 meters in hole 23TCRC155.

Felix also recognized significant quantities of the antimony mineral stibnite alongside the gold at NW Array and had the holes from its 2023 drilling analyzed for this critical mineral. Highlights include:

• 1.5 meters averaging 26% antimony in hole 23TCRC135.

• 6.1 meters averaging 13% antimony in hole 23TCRC155.

• 6.1 meters averaging 7.69% antimony in hole 23TCRC176.

In preparation for calculating an inaugural resource for NW Array, Felix shipped 30 samples to an ALS lab in Australia for metallurgical testing.

The company reports that the initial bottle roll tests confirm that the gold at NW Array is free milling and recoverable using cyanide.

The average recovery of samples of oxidized material from within 50 meters of surface was 90%.

With the metallurgical results now in, the company is focused on finalizing a maiden resource estimate for NW Array, which is expected to be completed before midyear.

Felix Gold Ltd.

Felix Gold's large land package in the Fairbanks Mining District.

Felix Gold is also evaluating the potential to expand the resource at its historical Grant gold mine projectabout five miles south of Treasure Creek.

"We're laying the groundwork for continuous resource expansion and economic studies in a gold-rich locale, bolstered by existing infrastructure and the proximity of Kinross Gold Corporation's Fort Knox Gold Mine, which actively seeks additional ore supply," said Felix Gold Executive Director Joe Webb.

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.

• Email: [email protected]
• Phone: (907) 726-1095
• https://www.linkedin.com/in/shane-lasley-ab073b12/