Felix Gold (ASX:FXG) reports assay results for a further 11 RC holes at its Treasure Creek Project show multi-kilometre extensions of Eastgate Central prospect to south-west.
Felix reports the maiden drill program at Treasure Creek is progressively discovering multiple gold zones with evidence of significant scale at the project, which is in the ‘world-class’ Fairbanks Gold Mining District of Alaska, US.
Addressing the results, Felix Managing Director and CEO Joe Webb commented: “The reported results from the first line of outright reconnaissance drilling at Treasure Creek are significant.
They show multi-kilometre extensions of the Eastgate Central Prospect to the south-west and significantly open-up another previously untested multi-kilometre mineralised zone.
Felix’s maiden drill program at Treasure Creek is progressively discovering multiple gold zones with evidence of significant scale – this includes the previously reported results from the NW Array Southern Zone of 89.9m at 1.20 g/t Au from 32.0m downhole and 33.5m at 1.63 g/t Au from 1.5m downhole.
“The results are even more significant in the broader context of the Fairbanks Gold Mining District”
So far, results have only been returned and announced for 20 out of the 131 holes drilled at Treasure Creek. The results are even more significant in the broader context of the Fairbanks Gold Mining District, where Kinross’s Fort Knox operation is planning to truck ore in from up to 500km away from 2024.
Fort Knox is also currently mining the local Gill Mine at average grades of approximately 0.55 g/t Au. Felix’s maiden drill program results amply demonstrate that the Fairbanks Gold Mining District remains relatively underexplored, with the growing potential for large-scale gold deposits with multiple potential commercialisation pathways.”
The Eastgate Central Zone is interpreted as part of a +4km structural corridor running along the southern extent of the Treasure Creek Project. Historical exploration was last undertaken in the early 1990s where only 4 drill holes and limited trenching had been completed along the interpreted 4km Eastgate Corridor.
Historical soil sampling and trenching defined the Eastgate Central Zone to the southern extent of the Treasure Creek Project. Trenching yielded very high grades at Eastgate Central (up to 5m @ 69.22g/t Au), from a shear vein trending 305 degrees and dipping 60 degrees north, with historical drilling resulting in 25m @ 1.02g/t Au from surface.
Felix is an ASX-listed gold discovery business operating in the highly endowed Tintina Gold Province of Alaska in the US. Its flagship asset is a substantial landholding in the world-class Fairbanks Gold District, where historical gold production exceeds 16Moz.
In Fairbanks, our tenements sit within one of the largest gold production centres in the entire Tintina belt and lie in close proximity to both Kinross Gold’s Tier 1 gold mine, Fort Knox, and the rapidly growing Freegold Ventures’ discovery, Golden Summit. We hold four key projects across over 392km-square of tenure in the heart of this premier gold production district.
Felix’s key projects are located only 20 minutes from our operational base in the central mining services hub of Fairbanks City, Alaska. This base is a huge advantage for Felix with its existing infrastructure, low-cost power, skilled workforce and long history of gold production.
It allows the company to explore year-round and delivers genuine potential development pathways for our assets.
Write to Adam Orlando at Mining.com.au
