The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Drills cut near surface gold at NW Array, Eastgate-Scrafford North of 60 Mining News – November 25, 2022
A drill crew tests the Northwest Array target during Felix Gold's 2022 drill program on the Treasure Creek gold project in Alaska's Fairbanks Mining District.
Millrock Resources Inc. Nov. 21 reported that the 2022 drilling being carried out by Felix Gold Ltd. continues to cut significant near-surface gold mineralization in multiple zones on the Treasure Creek property in Alaska's Fairbanks Mining District.
As a private company, Felix entered into a strategic alliance with Millrock in 2021 on several Interior Alaska gold exploration projects – Treasure Creek and Ester Dome near the city of Fairbanks, plus the Liberty Bell project about 70 miles to the southwest.
Under this alliance, Millrock transferred the Fairbanks District and Liberty Bell properties to Felix in exchange for nearly 10 million shares of the exploration company that listed on the Australian Stock Exchange early in 2022.
Felix Gold and Millrock, however, have decided to end the strategic alliance, and each company is free to use the information generated during the alliance period for its own purposes.
Millrock continues to hold 1% to 2% net smelter return royalties on the 151-square-mile (392 square kilometers) land position Felix accumulated in the Fairbanks District under the alliance.
During the 2022 season, Felix carried out more than 17,000 meters of reverse circulation drilling that cut broad sections of near-surface gold mineralization at Treasure Creek in preparation for a diamond drilling program slated for 2023.
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 last year identified two key targets for 2022 drilling – Northwest Array and Eastgate.
Highlights from assay results from the 2022 drilling at Northwest Array include:
• 29 meters averaging 1.4 grams per metric ton gold from a depth of 24.4 meters in hole 22TCRC002.
• 33.5 meters averaging 1.63 g/t gold from a depth of 1.5 meters in hole 22TCRC005.
• 89.9 meters averaging 1.2 g/t gold from a depth of 32 meters in hole 22TCRC008.
• 38.1 meters averaging 1.1 g/t gold from a depth of 1.5 meter in hole 22TCRC071.
• 18.3 meters averaging 1.02 g/t gold from a depth of 42.7 meters in hole 22TCRC076.
• 30.5 meters averaging 0.4 g/t gold from a depth of 1.5 meters and 89.9 meters averaging 0.97 g/t gold from a depth of 45.7 meters in hole 22TCRC078.
"NW Array is quickly building into a significant gold discovery," Felix Gold Managing Director and CEO Joe Webb said in October. "The mineralised zone at the NW Array Southern Zone now extends over an area of approximately 750 metres by 400 metres and remains open in almost every direction and at depth."
The Northwest Array prospect is road accessible, and the Treasure Creek claim block is traversed by a power line that extends to the Fort Knox Gold Mine.
"Critically, NW Array and the broader Treasure Creek Project is surrounded by infrastructure within the world-class Fairbanks Gold Mining District, which has produced over 16Moz in historical gold output," added Webb.
Felix Gold has also reported significant, near-surface gold intercepts from drilling carried out at the Eastgate-Scrafford prospect, which is located about 3,000 meters southeast of Northwest Array Southern Zone.
Highlights from drilling at Eastgate-Scrafford include:
• 4.6 meters averaging 1.9 g/t gold from a depth of 21.3 meters in hole 22TCRC014.
• 6.1 meters averaging 3.22 g/t gold from a depth of 62.5 meters in hole 22TCRC022.
• 7.6 meters averaging 6.48 g/t gold from a depth of 50.3 meters in hole 22TCRC036.
• 6.1 meters averaging 3.74 g/t gold from a depth of 13.7 meters in hole 22TCRC113.
Assays are pending for 50 holes drilled this year at Treasure Creek, as well as 40 holes drilled on prospects on various other claim blocks in the Northeast Fairbanks area of Felix landholding in the Fairbanks District.
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.
Reader Comments(0)