The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Leases land near Fort Knox from Alaska Mental Health Trust North of 60 Mining News – May 27, 2022
The Felix Gold properties in the Fairbanks Mining District, including the newly leased MHT property in darker yellow.
Felix Gold Ltd. May 25 announced that it has leased 6,203 acres of gold prospective properties in the Fairbanks Mining District from the Alaska Mental Health Trust Land Office.
Lying between Felix' Northeast Fairbanks and Treasure Creek claim packages, this newly leased MHT group of claims lies within 400 meters of the mill at Kinross Gold Corp.'s Fort Knox Mine and roughly 200 meters from the Dolphin deposit on Freegold Ventures Ltd.'s Golden Summit project.
Felix says the Alaska Resource Data File shows that there are five key historical prospects contained within the MHT tenure, which hosts multiple previous hardrock mine workings and evidence of extensive historical placer mining.
Much like all Felix' claims within the Fairbanks District, the MHT tenure is strongly supported by infrastructure. The Elliot Highway, which runs north to the Livengood Mining District and onward as the Dalton Highway to Alaska's North Slope, runs along the western edge of MHT, and the Steese Highway, which provides access to the Circle Mining District to the northeast, cuts across the eastern edge of the new land package. Additionally, the transmission lines and easements that deliver electricity to Fort Knox extend across the southern portions of the tenure.
To acquire these claims, Felix entered into a nine-year lease agreement with the Alaska Mental Health Trust that involves staged payments and exploration commitments. During years one through three, Felix must pay US$35,000 in annual lease payments and invest at least US$150,000 into exploration and other work on the MHT property per year; during years four through six, Felix must pay US$40,000 and invest US$250,000 into the property per year; and during years seven through nine, must pay US$45,000 and invest US$350,000 per year into the property.
Felix said leasing the MHT land package has been a priority for the past year, and the Australia-based exploration company plans to begin more detailed evaluation activities on the newly leased claims shortly.
Drilling of key targets at MHT is currently planned to begin in the second half of this year.
In the meantime, drilling is being carried out at Treasure Creek. So far, crews have completed more than 2,420 meters of drilling in 23 holes at the NW Array prospect on the property.
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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