Northern Freegold Intersects 9.68 g/t Gold over 4.47 m in Step-Out Drilling to the Southwest in the Nucleus Zone at Freegold Mou
November 19 2009 - 8:15AM
Marketwired Canada
Northern Freegold Resources Ltd. (TSX VENTURE:NFR) is pleased to provide results
from 10 additional drill holes in the Nucleus Zone at the district scale road
accessible 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(1). The
Nucleus Zone is a bulk tonnage, potentially open-pittable intrusion related gold
mineralized system.
Highlights:
- Highlights from holes within this release include:
-- Hole 144: 4.47 m of 9.68 g/t gold and 17.10 m of 1.01 g/t gold
-- Hole 147: 2.27 m of 10.05 g/t gold, 0.42 m of 51.40 g/t gold & 2.00m of
9.68 g/t gold
-- Hole 152: 2.00 m of 7.73 g/t gold
- These holes are part of a large scale target newly identified in the
southern portion of Nucleus Zone which has potential for resource
expansion (refer to attached map)
- Integration of recent and historical geophysical surveys, geological
mapping and diamond drilling now indicates a large northwest trending
brittle shear zone, which is a potential host for mineralization
- In addition to the highlighted holes from above, earlier holes from
2008(2) and 2009(3) drilled within the brittle shear zone returned
significant results such as:
-- Hole 111: 7.90 m of 25.33 g/t gold and 2.55 m of 49.70 g/t gold
-- Hole 113: 3.60 m of 55.27 g/t gold including 0.73 m of 142.00 g/t gold
-- Hole 128: 1.31 m of 11.50 g/t gold and 25.38 m of 1.25 g/t gold
-- Hole 137: 6.13 m of 1.11 g/t gold and 55.67 m of 0.52 g/t gold
- The Nucleus zone remains open in all directions and at depth.
To view the Drillhole Plan Map Nucleus Zone, please visit the following link:
http://media3.marketwire.com/docs/nfr1119map.JPG
Bill Harris, CEO & COO commented "We are pleased that the initial compilation of
the technical work between the Nucleus and Revenue Zones at Freegold Mountain
has identified this large scale new target for resource expansion. Particularly
of note, is the presence of high grade intercepts within this new target area.
The application of this integrated technical approach to data analysis and
understanding to the other areas of the Freegold Mountain Project is exciting
and will lead to prioritization of targets for the 2010 program at Freegold
Mountain."
(1) (67.67 million tonnes @ 0.5 g/t gold with a 0.3 g/t cutoff; see news release
dated July 27, 2009).
(2) see news release dated March 26, 2009; 3 see news release dated Oct. 22, 2009
Complete results for the 10 holes are presented in the tables at the end of this
release. The remaining 14 holes will be released as they are received, compiled
and interpreted. Drill sections and a 3D visualization can be viewed at
ww.corebox.net or by following a link on the company's website at
www.northernfreegold.com
Northern Freegold also announces it has accepted the resignation of Corwin Coe,
VP Exploration, as he pursues other opportunities. Susan Craig, President
commented "I would like to thank Corwin Coe for all of his efforts and
contributions to Northern Freegold, and wish him continued success in future
endeavors."
Sampling Methodology, Quality Control and Assurance
The holes were drilled by a skid mounted diamond drill with NTW core size (5.6
cm/2.2 inches in diameter). Core samples from diamond drilling were split and
sent to both EcoTech Laboratory in Whitehorse for sample preparation and then to
EcoTech Laboratory in Kamloops for analysis, as well as to ALS Chemex Laboratory
in North Vancouver for sample preparation and analysis. Blanks, commercial
standards and duplicate core samples were included in each batch. To determine
Au levels at the ppb level (detection limit 5-1000 ppb (10,000 ppb at ALS)) 30 g
samples were fire assayed then digested in aqua regia solution and analyzed by
atomic absorption. Values over 1,000 ppb 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) at EcoTech, or re-assayed by fire assay followed by a
gravimetric finish at ALS. Other elements are analyzed by a 29 elements (33 at
ALS) package (ICP-AES analysis). Additional check-analyses are carried out by
the lab which did not receive the original sample. Intervals reported in this
release do not necessarily represent true widths of mineralization. The
technical information disclosed in this release has been reviewed and approved
by Wade Barnes, P. Geo.
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 called the Tintina Gold Belt. NFR controls 166
square km (64 square miles) within the district scale Freegold Mountain Project,
containing at least 20 identified mineralized zones, including the Nucleus,
Revenue and Tinta. Nearby projects include the producing Minto Mine of Capstone
Mining Corp. the Casino and Carmacks Copper Deposits of Western Copper
Corporation, and the White Gold Property of Underworld Resources to the
northwest.
The Freegold Mountain Project is well situated within the stable, mining
supportive jurisdiction of the Yukon which has a single assessment approach for
developing projects 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 Road, a government
maintained gravel road that connects to the Klondike Highway, an all weather
paved highway leading to Whitehorse. Powerlines along the Klondike Highway are
30 km from the Freegold 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). 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.
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
Susan P. Craig, President
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
----------------------------------------------------------------------------
Inter- Inter-
Length(m) From To val val Au(1) Au(2) Cu(3)
Hole No. Az(o)/Dip(o) m m m feet g/tonne oz/ton %
----------------------------------------------------------------------------
GRD09-141 274.51 88.86 96.34 7.48 24.54 0.97 0.028 (i)
and 0/-50 123.12 123.62 0.50 1.64 11.95 0.349 .16
and 160.85 161.20 0.35 1.15 2.77 0.081 (i)
and 228.94 230.05 1.11 3.64 2.15 0.063 (i)
----------------------------------------------------------------------------
GRD09-142 227.08 160.40 160.90 0.50 1.64 1.29 0.038 (i)
0/-50
----------------------------------------------------------------------------
GRD09-144 270.67 66.80 83.02 16.22 53.22 2.96 0.086 (i)
including 180/-50 67.66 72.13 4.47 14.67 9.68 0.282 (i)
and 206.93 224.03 17.10 56.10 1.01 0.029 (i)
including 214.48 222.29 7.81 25.62 1.54 0.045 (i)
and 249.88 249.55 0.47 1.54 1.78 0.052 (i)
----------------------------------------------------------------------------
GRD09-147 303.28 7.22 9.49 2.27 7.45 10.05 0.293 (i)
and 0/-59 49.96 50.38 0.42 1.38 51.40 1.499 (i)
and 150.32 175.19 24.87 81.59 0.76 0.022 (i)
including 173.59 175.19 1.60 5.25 5.20 0.152 (i)
and 192.50 194.5 2.00 6.56 9.68 0.282 (i)
and 198.79 200.29 1.50 4.92 2.87 0.084 (i)
and 213.00 215.00 2.00 6.56 1.05 0.031 (i)
and 224.84 231.50 6.66 21.85 1.06 0.031 .23
----------------------------------------------------------------------------
GRD09-152 260.30/0/-50 6.00 8.00 2.00 6.56 7.73 0.225 (i)
----------------------------------------------------------------------------
GRD09-154 277.68 98.80 100.30 1.50 4.92 1.87 0.055 .15
and 0/-50 229.85 235.13 5.28 17.32 0.94 0.027 (i)
----------------------------------------------------------------------------
GRD09-155 39.62 32.67 33.16 0.49 1.61 2.38 0.069 (i)
and 180/-56 35.67 36.58 0.91 2.99 1.41 0.041 (i)
Hole abandoned due to poor ground conditions
----------------------------------------------------------------------------
GRD09-158 216.11 30.78 34.76 3.98 13.06 0.85 0.025 (i)
and 0/-50 44.69 45.26 0.57 1.87 4.23 0.123 (i)
and 56.18 62.20 6.02 19.75 0.99 0.029 (i)
including 59.62 60.42 0.80 2.62 4.01 0.117 (i)
and 99.21 101.54 2.33 7.64 1.94 0.057 (i)
----------------------------------------------------------------------------
GRD09-161 224.34 98.96 99.33 0.37 1.21 1.43 0.042 (i)
and 0/-50 138.15 142.89 4.74 15.55 0.62 0.018 (i)
and 189.22 193.36 4.14 13.58 1.79 0.052 (i)
and 222.50 223.54 1.04 3.41 1.22 0.036 (i)
----------------------------------------------------------------------------
GRD09-162 154.23 15.20 19.50 4.30 14.11 2.80 0.082 (i)
and 0/-55 30.50 31.10 0.60 1.97 8.91 0.260 (i)
including 73.40 75.40 2.00 6.56 2.26 0.066 (i)
and 144.60 154.23 9.63 31.59 0.84 0.025 (i)
including 145.10 147.10 2.00 6.56 1.70 0.050 (i)
----------------------------------------------------------------------------
GRD09-163 190.12/0/-50 184.30 184.80 0.50 1.64 1.60 0.047 .12
----------------------------------------------------------------------------
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%
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