Northern Freegold Resources Ltd. (TSX VENTURE: NFR) is pleased to
announce results from 11 additional drill holes in the Nucleus Zone
at the district scale Freegold Mountain Project, located in the
Yukon. In 2009, a total of 10,440 m were completed within 44 drill
holes in the Nucleus Zone, where an initial inferred gold resource
of 1.082 million ounces was announced (67.67 million tonnes @ 0.5
g/t gold with 0.3 g/t cutoff; see news release dated July 27,
2009). Step-out hole GRD-128 drilled to the south tested a poorly
explored area and was successful in intersecting a significant
length (25.38 m) of 1.25 g/t Au including 1.31 m of 11.50 g/t Au.
This intersection extends mineralization to south and at depth of
the current resource boundary.
The main objective of the Company's drill program in 2009 was to
confirm and expand upon historical results within a bulk tonnage,
potentially open-pittable intrusion related gold mineralized
system. The new geological model for the initial resource estimate
in the Nucleus Zone demonstrates a higher-grade east-west component
for the gold mineralization which is parallel to a series of
mineralized intrusive dykes and sulphide enriched zones and a
broad, variably oriented disseminated gold mineralization system.
Upon recognition of the significance of the east-west trend of
higher gold mineralization, all 2009 drill holes were drilled in a
north or south direction to cross-cut these structures. The 11
holes reported in this news release represent fences of holes
drilled north south across the Nucleus Zone and include step out
holes to the south and east (refer to attached map or see
www.northernfreegold.com).
To view the attached map please click on the following link:
http://media3.marketwire.com/docs/nfr1022m.JPG
Highlights of the 11 holes in this release
Section 379325E
- North/south holes drilled through central Nucleus
-- Hole 128 drilled to the south (step-out) testing a poorly
explored area was successful in intersecting significant length
(25.38 m) of 1.25 g/t Au including 1.31 m of 11.50 g/t Au
-- Holes 130 and 132 drilled to the north were successful in
potentially connecting/expanding higher grade portions of the
resource; (GRD09-130 intersected 8.8 m of 1.97 g/t Au and GRD09-132
intersected 22.86 m of 1.08 g/t Au)
Section 379200E
- Testing mineralization in western Nucleus
-- Hole 139 drilled to the north intersected significant
mineralization consisting of 1.00 g/t Au over 18.40 m
-- Hole 137 drilled to the south intersected 55.67 m of 0.52 g/t
Au
Section 379400E
- Hole 135 tested an area within eastern Nucleus to fill in and
extend higher grade portions of the resource
-- Successful as intersected 59.43 m of 0.81g/t Au; and 17.59 m
of 1.89 g/t Au
Section 3793650/700E
- Stepped out to east and drilled north and south
-- Holes GRD09-133 and 140 intersected highly faulted ground
whereas GRD09-134 did not intersect faulted ground yet intersected
significant mineralization of 5.98 m of 1.56 g/t Au
Complete results are presented in the tables at the end of this
release. Drill holes included in this press release can also be
viewed a www.corebox.net. For an animated video showing Nucleus'
current resource please click:
http://www.northernfreegold.com/s/Home.asp.
The 2009 diamond drill program in and surrounding the Nucleus
Zone was also successful in:
- Defining tabular nature of sulphide rich replacement
mineralization in eastern section of the zone (see Aug. 13, 2009
news release)
- Expanding and confirming the continuity of structures
controlling the higher grade gold mineralization
- Intersecting new and extending known sulphide enriched
mineralization and sulphide rich breccias in step out holes in the
western and southwestern portion of the zone
- Stepping out to follow up on geochemical and/or geophysical
anomalies and targets generated by previous/ongoing drilling to
extend Nucleus Zone mineralization
The 2009 program also included 1,241 m of rotary air blast
drilling (21 holes) with follow up diamond drilling (assays
pending). Also included in the 2009 program was detailed geological
mapping and ground geophysics between the Nucleus and Revenue Zones
(a distance of 4 km), as well as property wide stream sediment
sampling and reinterpretation of airborne geophysics across the
project. The 2009 geological mapping and ground geophysics
(magnetic and radiometrics) program focusing along and past the 4
kilometre trend encompassing the Nucleus and Revenue Zones helped
to define and follow up on historical gold and copper anomalies
between the zones (please refer to attached figure). Gold and
copper soil historical soil geochemistry has been digitized from
contours produced by Archer, Cathro & Associates in 2004 based
on original sample data collected in 2000. As can be seen from the
attached figure, a large portion of the outline of the existing
inferred resource at the Nucleus Zone has no indicative soil
anomalies associated with it. The results received to date from the
stream sediment samples within the Nucleus/Revenue Zone also
indicate additional areas warranting follow up.
To view the attached figure please click on the following link:
http://media3.marketwire.com/docs/nfr1022f.JPG
Bill Harris, CEO & COO commented "We are pleased that
another successful exploration program has been completed at
Freegold Mountain. The recognition in the geologic modeling of the
importance of the east-west orientation for higher-grade
mineralization supports the view that the recognized mineral
occurrences on the Freegold Mountain property are related and form
part of a much larger system than previously recognized. The
detailed drill program in the Nucleus Zone has helped identify
additional target areas to test and potentially expand resources.
The strength and scale of anomalies identified between the Nucleus
and Revenue Zones is significant. This work, in conjunction with
review of historical soil data, the 2009 property wide stream
sediment sampling program and reinterpretation of the property wide
airborne geophysical survey will lead to prioritization of targets
for the 2010 program at Freegold Mountain."
Sampling Methodology, Quality Control and Assurance
Drilling: The holes were drilled by a skid mounted diamond drill
with NTW core size (5.6 cm/2.2 inches in diameter). All core
samples from diamond drilling are split and sent to EcoTech
Laboratory in Whitehorse for sample preparation and then to EcoTech
Laboratory in Kamloops for analysis. Blanks, commercial standards
and duplicate core samples are included in each batch. To determine
Au levels at the ppb level (detection limit 5-1000 ppb) 30 g
samples are fire assayed then digested in aqua regia solution and
analyzed by atomic absorption. Over-limit values are re-assayed by
fire assay and then digested with aqua regia and then re-analyzed
by an atomic absorption instrument (detection limit 0.03 g/t).
Other elements are analyzed by a 29 elements package (ICP-AES
analysis). Additional check-analyses will be carried out by ALS
Chemex in North Vancouver. Intervals reported in this release do
not necessarily represent true widths of mineralization.
Stream Sediment Sampling: Each sample was collected from several
points along the active stream bed to produce a representative
composite sample. The top part of the sediment was discarded to
avoid spurious high content of Fe and Mn in oxide coating. Every
sample collected was hand sieved in the field to a fraction of less
than one-eighth inch. The sample was placed in a double layer
plastic sample bag and labeled. Sample weight varied between four
to twelve kilograms. Samples were submitted to ALS Chemex in
Vancouver. Upon arrival at the laboratory, samples were dried and
screened to 180 microns (80 mesh) and analyzed by ME-MS41, an ultra
trace level method for 51 elements, including gold and mercury by
aqua regia digestion of 0.5 g of sample and a combination of
ICP-AES and ICP-MS analysis. In addition, AU-ST44 method was used
to analyze for gold using a larger sample size of 50 grams. Samples
exceeding the upper limit of Au detection of 0.1 ppm were
automatically re-analyzed using an additional 50 gram sample of 80
mesh sediment and implementing the ore grade assay technique
Au-OG44 using aqua regia digestion and ICP-MS finish with detection
range between 0.01-100 ppm.
About the Freegold Mountain Project
The road accessible Freegold Mountain Project is located 200 km
northwest of Whitehorse, the capital of the Yukon and is situated
within an active exploration and mining area in the Tintina Gold
Belt of the Yukon which includes the producing Minto Mine of
Capstone Mining Corp. to the north, Casino Deposit and Carmacks
Copper Deposit of Western Copper Corporation to the west and east,
and the White Gold Property of Underworld Resources to the
northwest. NFR controls 166 square km (64 square miles) within the
district scale Freegold Mountain Project. Within the project
expanse are at least 20 identified mineralized zones, including the
Nucleus, Revenue and Tinta. Many of the additional prospects on the
Freegold Mountain Project are discussed in the full 43-101
technical report.
The Freegold Mountain Project is well situated within the
stable, mining supportive jurisdiction of the Yukon. In 2003,
control of resource management and development was devolved from
the federal Canadian Government to the Territory. Decisions on
resource development in the Yukon are now made in the Yukon. As a
result of the Umbrella Final Agreement which provides a template
for settlement of First Nation Land Claims in the Yukon, a single
assessment approach has been developed for projects and activities
in the Yukon, including resource projects. The Yukon Socioeconomic
Environmental Assessment Act was developed in conjunction with
First Nation and Yukoners. Eleven of the 14 First Nations in the
Yukon have settled their Land Claim negotiations. The Freegold
Mountain Project is located within the traditional territories of
two settled First Nations: Little Salmon Carmacks First Nation and
the Selkirk First Nation.
The Freegold Mountain Project is located on the Freegold
Mountain Road, a government maintained gravel road. The Freegold
Road connects to the Klondike Highway, an all weather paved
highway, which connects to Whitehorse, the capital of the Yukon,
and the major supply centre for the Yukon. Powerlines located along
the Klondike Highway are at present 30 km from the Freegold Project
boundary. The Carmacks Copper deposit will require a 12 km power
line to connect to the power grid along the Klondike Highway. From
this location, the power line would be within 7 km of the Freegold
Mountain project boundary.
Other projects in the Tintina Gold Belt are the producing Fort
Knox mine operated by Kinross Gold and the recently discovered
Livengood Project of International Tower Hill Mines Ltd., both
located in Alaska. The open-pit Fort Knox mine contains proven and
probable resources of 252.8 Mt at an average grade of 0.47 g/t gold
as of December 31, 2008 (www.kinross.com). Fort Knox is currently
commissioning a run of mine heap leach facility to complement their
current milling operations. In 2008, the Fort Knox Mine produced
329,105 ounces of gold. The Livengood Project reported in September
of 2009 an indicated resource of 297.0 Mt at an average grade of
0.85 g/t gold and an inferred resource of 164 Mt at an average
grade of 0.84 g/t gold at a 0.5 g/t gold cutoff (www.ithmines.com).
Directly within the Freegold Mountain Project area, the Carmack
Copper Deposit of Western Copper Corporation has received it
permits and the Casino Deposit (4.4 billion lbs copper, 8.0 million
ozs gold and 475 million lbs molybdenum) has entered into the Yukon
Environmental Assessment Process (www.westerncoppercorp.com). These
reserves and resources have not been verified by the qualified
person and the information is not necessarily indicative of the
mineralization at Freegold Mountain.
The technical information disclosed in this release has been
reviewed and approved by Wade Barnes, P. Geo.
Northern Freegold is a well financed rapidly advancing
Canadian-based precious metals exploration and development company,
which brings local expertise and strong management to focus on the
development of economic mineral resources on the district-scale
Freegold Mountain gold and copper project in the Yukon and the
Burro Creek gold and silver property in Arizona.
Northern Freegold Resources Ltd.
On behalf of the Board of Directors
William G. Harris, CEO & COO
Cautionary Note Regarding Forward-Looking Statements
The information in this press release includes certain
"forward-looking statements" All statements, other than statements
of historical fact, included herein including, without limitation,
plans for and intentions with respect to the company's properties,
statements regarding intentions with respect to obligations due for
various projects, strategic alternatives, quantity of resources or
reserves, timing of permitting, construction and production and
other milestones, are forward looking statements. Statements
concerning Mineral Reserves and Mineral Resources are also
forward-looking statements in that they reflect an assessment,
based on certain assumptions, of the mineralization that would be
encountered and mining results if the project were developed and
mined in the manner described. Forward-looking statements involve
various risks and uncertainties. There can be no assurance that
such statements will prove to be accurate, and actual results and
future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from NFR's expectations include the
uncertainties involving the need for additional financing to
explore and develop properties and availability of financing in the
debt and capital markets; uncertainties involved in the
interpretation of drilling results and geological tests and the
estimation of reserves and resources; the need for cooperation of
government agencies and First Nation groups in the exploration, and
development of properties; and the need to obtain permits and
governmental approval. NFR's forward looking statements reflect the
beliefs, opinions and projections of management on the date the
statements are made. NFR assumes no obligation to update the
forward looking statements if management's beliefs, opinions,
projections, or other factors should they change.
Cautionary Note Regarding Reserve and Resource Estimates
This press release has been prepared in accordance with the
requirements of the securities laws in effect in Canada, which
differ from the requirements of U.S. securities laws. Unless
otherwise indicated, all resource and reserve estimates included in
this press release have been prepared in accordance with National
Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI
43-101") and the Canadian Institute of Mining and Metallurgy
Classification System. NI 43-101 is a rule developed by the
Canadian Securities Administrators which establishes standards for
all public disclosure an issuer makes of scientific and technical
information concerning mineral projects. Canadian standards,
including NI 43-101, differ significantly from the requirements of
the United States Securities and Exchange Commission ("SEC"), and
resource and reserve information contained herein may not be
comparable to similar information disclosed by U.S. companies. In
particular, and without limiting the generality of the foregoing,
the term "resource" does not equate to the term "reserves".
Investors should also understand that "inferred mineral resources"
have a great amount of uncertainty as to their existence and great
uncertainty as to their economic and legal feasibility. It cannot
be assumed that all or any part of an "inferred mineral resource"
will ever be upgraded to a higher category. The estimation of
quantities of resources and reserves is complex, based on
significant subjective assumptions and forward-looking information,
including assumptions that arise from the evaluation of geological,
geophysical, engineering and economic data for a given ore body.
This data could change over time as a result of numerous factors,
including new information gained from development activities,
evolving production history and a reassessment of the viability of
production under different economic conditions. Changes in data
and/or assumptions could cause reserve estimates to substantially
change from period to period. No assurance can be given that the
indicated level of mineral will be produced. Actual production
could differ from expected production and an adverse change in
mineral prices could make a reserve uneconomic to mine. Variations
could also occur in actual ore grades and recovery rates from
estimates.
Drill Hole Results
--------------------------------------------------------------------------
Length(m) Inter- Inter-
Az (degrees)/ From To val val Au(1) Au(2) Cu(3)
Hole No. Dip(degrees) m m m feet g/tonne oz/ton %
--------------------------------------------------------------------------
Section 379325E; Fence of holes drilled through central Nucleus
--------------------------------------------------------------------------
GRD09-128 295.66 11.10 12.41 1.31 4.20 11.50 0.335 (i)
And 180/-55 34.00 36.00 2.00 6.41 1.03 0.030 (i)
And 113.30 138.68 25.38 81.34 1.25 0.036 (i)
Including 113.30 119.95 6.65 21.31 3.37 0.098 0.10
And 185.42 187 1.58 5.06 1.07 0.031 0.20
--------------------------------------------------------------------------
GRD09-130 291.08 25.50 26.10 0.60 1.92 1.53 0.045 0.38
And 0/-55 37.70 46.50 8.80 28.20 1.97 0.057 (i)
Including 37.70 40.60 2.90 9.29 5.12 0.149 (i)
And 61.70 101.00 39.30 125.95 0.94 0.027 (i)
Including 61.70 73.40 11.70 37.50 1.25 0.036 (i)
Including 83.50 101.00 17.50 56.08 1.05 0.031 0.13
Including 83.50 89.00 5.50 17.63 1.89 0.055 0.13
And 124.30 126.40 2.10 6.73 1.10 0.032 0.21
And 246.50 247.70 1.20 3.85 1.40 0.041 (i)
And 255.00 256.30 1.30 4.17 1.74 0.051 0.46
--------------------------------------------------------------------------
GRD09-132 455.68 0.00 80.77 80.77 258.85 0.79 0.023 (i)
Including 0/-65 0.00 22.86 22.86 73.26 1.08 0.032 (i)
Including 67.06 70.95 3.89 12.47 2.43 0.071 (i)
--------------------------------------------------------------------------
Step-out holes to the east (3793650, 700E)
--------------------------------------------------------------------------
GRD09-133 297.48 34.83 36.00 1.17 3.75 1.24 0.036 (i)
And 180/-50 149.87 151.00 1.13 3.62 2.93 0.085 0.17
--------------------------------------------------------------------------
GRD09-134 272.8 38.10 44.08 5.98 19.16 1.56 0.045 (i)
And 180/-50 55.70 57.30 1.60 5.13 1.94 0.057 (i)
--------------------------------------------------------------------------
GRD09-140 240.79 No significant results
0/-50
--------------------------------------------------------------------------
Test conductor and soil anomaly to south (379450E)
--------------------------------------------------------------------------
GRD09-136 368.81 65.41 70.53 5.12 16.7979 0.89 0.026 (i)
0/-50
--------------------------------------------------------------------------
GRD09-138 208.79 63.40 67.90 4.50 14.7638 1.08 0.032 (i)
180/-50
--------------------------------------------------------------------------
Results less than 2.5 g/t/m gold were not reported in this table, unless
the grade was greater than 1 g/t gold
(1) Au composite intervals were calculated from Au ppb if Au values less
than 1,000 ppb; if Au values were greater than 1,000 ppb fire assay
g/tonne values were used
(2) Au oz/ton values were converted by dividing Au g/tonne value by 34.2857
(3) Percent values were calculated from ppm results; if Cu value was
greater than 10,000 ppm lab reported % values were used
(i) Cu values less than 0.10%
--------------------------------------------------------------------------
Length(m) Inter- Inter-
Az (degrees)/ From To val val Au(1) Au(2) Cu(3)
Hole No. Dip(degrees) m m m feet g/tonne oz/ton %
--------------------------------------------------------------------------
Testing an area within eastern Nucleus to fill in an d extend higher grade
portion of the resource (379400E)
--------------------------------------------------------------------------
GRD09-135 290.36 19.81 37.70 17.89 58.69 0.71 0.021 (i)
Including 0/-50 32.27 36.27 4.00 13.12 1.24 0.036 (i)
And 43.61 47.15 3.54 11.61 0.96 0.028 0.10
And 53.27 112.59 59.32 194.62 0.81 0.024 (i)
Including 60.98 71.00 10.02 32.87 1.14 0.033 (i)
Including 108.30 112.59 4.29 14.07 3.68 0.107 (i)
And 133.60 134.93 1.33 4.36 1.62 0.047 0.14
And 163.43 173.68 10.25 33.63 0.44 0.013 (i)
And 179.22 201.00 21.78 71.46 0.74 0.022 0.10
And 183.60 184.47 0.89 2.92 2.13 0.062 (i)
And 191.76 193.70 1.94 6.36 1.91 0.056 0.10
And 219.36 236.95 17.59 57.71 1.89 0.055 (i)
And 221.33 228.30 6.97 22.87 3.96 0.112 (i)
--------------------------------------------------------------------------
Test mineralization in western Nucleus (379200E)
--------------------------------------------------------------------------
GRD09-137 344.43 5.50 8.75 3.25 10.66 0.75 0.022 (i)
GRD09-137 180/-60 30.68 48.06 17.38 57.02 0.68 0.020 (i)
Including 35.37 41.50 6.13 20.11 1.11 0.032 (i)
GRD09-137 95.65 96.80 1.15 3.77 1.35 0.039 (i)
GRD09-137 139.81 141.41 1.60 5.25 6.65 0.194 (i)
GRD09-137 186.98 242.65 55.67 182.64 0.52 0.015 0.24
Including 204.20 205.66 1.46 4.79 3.22 0.094 0.12
--------------------------------------------------------------------------
GRD09-139 295.66 29.10 35.50 6.40 21.00 1.26 0.037 (i)
Including 0/-50 33.20 34.40 1.20 3.94 4.22 0.123 (i)
GRD09-139 47.70 69.40 21.70 71.19 0.41 0.012 (i)
Including 62.00 64.00 2.00 6.56 1.20 0.036 (i)
GRD09-139 110.90 133.10 22.20 72.83 0.50 0.015 (i)
Including 124.95 126.20 1.25 4.10 2.51 0.073 (i)
GRD09-139 153.10 166.50 13.40 43.96 0.41 0.012 (i)
GRD09-139 173.80 188.00 14.20 46.59 0.51 0.015 (i)
Including 185.90 186.30 0.42 1.38 4.22 0.123 0.19
GRD09-139 236.80 255.20 18.40 60.37 1.00 0.029 (i)
Including 246.00 250.20 4.20 13.78 3.08 0.090 (i)
--------------------------------------------------------------------------
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Northern Freegold Resources Ltd. Debbie James Investor
Relations Manager 877.893.8757 or 604.893.8757 604.893.8758 (FAX)
www.northernfreegold.com
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