The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
North of 60 Mining News - December 6, 2024
Felix Gold holds a roughly 151-square-mile land package in the Fairbanks Mining District.
Felix collected 159 samples from a grid-based auger soil sampling program.
Felix identified anomalous gold-in-soils at Everest and Point Break.
Felix Gold Ltd. Dec. 3 reported that a systematic sampling program has identified two gold targets on the NE Fairbanks project about 10 miles (16 kilometers) east of the NW Array gold-antimony deposit on the company's Treasure Creek project in Alaska.
The new gold targets are found on the Everest and Point Break claim blocks located approximately about a half mile (one kilometer) southeast of Freegold Venture Ltd.'s 22-million-ounce Golden Summit project and 2.5 miles (four kilometers northwest of Kinross Gold Corp.'s Fort Knox Mine, respectively.
While much of Felix's work is currently focused on expanding the gold resource and exploring the high-grade antimony potential on the Treasure Creek project, the company continues to advance earlier-staged targets across its expansive 151-square-mile (392 square kilometers) land package in the Fairbanks Mining District.
Felix collected 159 samples from a grid-based auger soil sampling program.
This reconnaissance exploration included grid-based soil sampling of 159 augur holes at NE Fairbanks targets.
The sampling at Everest, which lies immediately to the west and north of lands held and being explored by Kinross, identified gold anomalies that trend to the northwest. The best soil sample collected from Everest returned 353 parts per billion gold, and 11 of the samples topped 50 ppb gold.
"The proximity to Kinross Gold's Fort Knox Gold Mine, where Kinross is actively exploring near our boundaries for more ore supply, adds to the significance of our project area, which already has a rich mining history with historic assays of up to 1.84 oz/ton gold," said Felix Gold Executive Director Joe Webb.
Felix identified anomalous gold-in-soils at Everest and Point Break.
The best sample of the auger program, which was collected from the Point Break property just west of Golden Summit, contained 568 ppb gold. Felix points out this target sits along strike of Freegold's westward expansion of the Dolphin-Cleary deposit at Golden Summit.
The results from systematic soil sampling feed two new prospects into Felix's pipeline of projects in the Fairbanks District. This pipeline includes a deposit on the Grant Mine property with 5.8 million metric tons of Australian Joint Ore Reserves Committee- (JORC) compliant inferred resource averaging 1.95 grams per metric ton (364,000 ounces) gold; 25 million metric tons of JORC-compliant inferred resource averaging 0.58 grams g/t (467,000 oz) gold in the NW Array deposit at Treasure Creek; and very high-grade antimony mineralization at NW Array and the historic Scrafford Mine.
The company's primary near-term objective is to quickly develop a high-grade antimony mine at Treasure Creek. China's Dec. 3 announcement that it is cutting off all supplies of antimony to the United States has elevated the urgency to quickly scale up domestic projects like Treasure Creek with the potential to offer the U.S. alternative sources of this metalloid critical to America's economy and national security.
Felix hopes to have a small mine that will produce significant quantities of antimony due to the very high-grade mineralization in operation at Treasure Creek by the end of next year.
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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