ASX-listed explorer Felix Gold (ASX:FXG) has flagged a string of new mineralised gold zones enriched with ‘high-grade’ antimony (Sb) at its Treasure Creek Project located in Alaska.
The company, which has a $18.98 million market capitalisation, says these new zones were identified from a reverse circulation (RC) drilling program in the area. The results mark a ‘significant’ milestone for the company as it unveils the potential for a more ‘extensive’ strike length and the prospect of additional parallel trends. This potential is supported by the continuation of soil anomalies at the project.
Felix Gold reports the results also demonstrate primary gold mineralisation is open at depth and in various directions.
The drilling work comprised 17 holes at the NW Array and Scrafford prospects, orientated towards the definition of near-surface oxide gold mineralisation displaying grades comparable to or exceeding the present head grades of the nearby Kinross Fort Knox mine.
Key results include hole 23TCRC162 with 9.1m @ 1.18 grams per tonne (g/t) Au from 96m, including 3m @ 2.16g/t Au from 96m; hole 23TCRC176 with 32m @ 0.69g/t Au from 3m with 1.5m @ >5% Sb from 6.1m, including 4.6m @ 3.13g/t Au from 3m and 1.5m @ 2.03% Sb from 7.6m.
Felix Gold says assays for 5 holes at the Scrafford extension area are pending.
Commenting on the results, Felix Gold Managing Director and Chief Executive Officer (CEO) Anthony Reilly says: “We are delighted with the assay results from 17 additional holes at our Treasure Creek Project within the esteemed Fairbanks Gold Mining District in Alaska, USA, from the NW Array Prospect.
These results carry substantial weight as they have definitively delineated the NNE orientation of mineralised gold zones, including zones rich in high-grade antimony. Notably, drill hole 23TCRC177 was strategically placed along pre-existing access tracks to explore the potential for NE-trending mineralisation. This drill hole yielded expansive mineralised zones located hundreds of metres away from the established primary gold zone, which remains open.
“These results carry substantial weight as they have definitively delineated the NNE orientation of mineralised gold zones”
This achievement marks a significant milestone, opening a more extensive potential strike length and revealing the potential for parallel trends supported by soil anomalies. Notably, primary gold mineralisation remains open at varying depths and directions. The strategic drilling approach is concentrated on targeting near-surface oxide gold mineralisation, displaying grades comparable to, or surpassing, the current head grades of nearby Kinross’s Fort Knox Mine, a local tier-one gold mine searching for additional ore supply.
Now that we have received all 45 assay results for gold and antimony, we are advancing delineation of the maiden Mineral Resource Estimate for the NW Array Southern Zone in Q4 CY2023 as a foundation for continued growth in 2024.”
Felix Gold is the largest minerals claim owner in the ‘esteemed’ Fairbanks Gold Mining District in Alaska.
The company’s Treasure Creek project is located in Alaska and is being explored by Felix to delineate a near-surface commercial resource, which could potentially provide additional ore supply to Kinross Gold’s Fort Knox, a tier-one gold mine with mineral reserves at 0.37g/t Au.
Write to Adam Drought at Mining.com.au
Images: Felix Gold Ltd