The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
North of 60 Mining News - May 17, 2024
Felix Gold Ltd. May 16 announced that it now has the ability to explore expansion targets adjacent to the Northwest Array (NW Array) gold target on its Treasure Creek project about 12 miles north of Fairbanks, Alaska.
Felix began assembling a large land package covering gold prospects in the Fairbanks Mining District during 2020. A compilation of historical data and comprehensive mapping, sampling, and prospecting carried out across these 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.
The drill results are currently being incorporated into a maiden resource estimate for NW Array.
Now, Felix has secured the rights to explore highly prospective expansion targets to the west of NW Array.
These claims are located within the larger Treasure Creek land package but were subject to minerals closing orders. Felix reports that it has successfully navigated applications with the Alaska Department of Natural Resources to reopen these claims for minerals exploration.
"We are pleased to announce the strategic addition of new mining claims, which significantly enhances the scale potential of the NW Array gold system," said Felix Gold Executive Director Joseph Webb.
One historical trench dug by BHP-Utah cut 121.92 meters averaging 0.78 g/t gold on the newly opened claims about 200 meters west of Felix's drilling at NW Array.
In addition, historical drilling in this same area by Silverado Gold Mines cut 4.57 meters averaging 1.93 g/t gold, 12.19 meters averaging 1.67 g/t gold, and 15.24 meters averaging 0.87 g/t gold.
Mineralization in all these holes started at surface and the deepest hole was only drilled to 16.8 meters.
While these historical results are not compliant with modern reporting standards, they do indicate the expansion potential in this area newly opened to mineral exploration.
"The compelling evidence of gold mineralization continuation, coupled with the pending maiden JORC resource announcement, reinforces our confidence in the value and potential of this expanding gold system," said Webb. "This addition aligns with our commitment to unlocking the full potential of this district and solidifies our position as a leading explorer in this highly prospective region."
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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