Northern Freegold Announces Exploration Results from Freegold Mountain Project, Yukon
January 20 2014 - 10:21AM
Access Wire
Vancouver, BC: January 20, 2014. Northern
Freegold Resources Ltd. (NFR: TSX-V, NFRGF: OTCQX)
is pleased to announce further results from the 2013
exploration program on the Freegold Mountain Project ("Freegold").
The project is 100% owned by Northern Freegold Resources Ltd. (the
"Company" or "Northern Freegold") and is road accessible, located
70 km west of Carmacks in the Dawson gold belt of southwestern
Yukon.
Discovery Zone (Seymour-Goldstar)
The
Discovery Zone consists of a number of porphyry, skarn, and
epithermal showings and targets which collectively cover an
area encompassing approximately seven square
kilometres.
The
objective of the 2013 program was to assess an area within the
Discovery Zone historically known as the Northwest Zone.
Geochemical surveys have previously identified a 150-250 metre wide
by 1,700 metre long gold in soil anomaly (>
90th percentile) which
is centered on the historic Melissa Showing. The geochemical
surveys and trenching activities completed during 2013 were
designed to ground truth historic soil values, provide
multi-element geochemistry, and trench high priority geochemical
targets.
The 2013
geochemical survey from the Discovery area has successfully
delineated a 150 to 300 metre wide by 900 metre long west-northwest
trending zone of coincident anomalous
gold-silver-arsenic-bismuth-lead-antimony in soil east of the
existing geochemical grid completed in 1986 and west of the
geochemical grid completed in 2011. The total strike length of the
anomalous gold zone (> 90th
percentile) is currently defined up to 1,700 metres.
This zone has never been drill tested.
Initial
data analysis completed prior to this year's field activities
included compilation of historic drill hole assays and surface rock
samples to identify elemental correlations with gold
mineralization. These correlations were then used to determine
which pathfinder elements would be used to delineate prospective
exploration zones during post-field data analysis. The data
analysis concluded that silver (Ag), bismuth (Bi), and arsenic (As)
are strong pathfinder elements for gold mineralization, whilst lead
(Pb) and antimony (Sb) are moderate pathfinder elements for gold
mineralization, within the Northwest or Seymour Zone.
A total
of 14.7 line kilometres of geochemical surveys totalling 590
B-horizon soil samples were collected during the program using soil
augers. The 2013 geochemical survey from the
Discovery area has successfully delineated a 150 to 300 metre wide
by 900 metre long west-northwest trending zone of coincident
anomalous gold (90th -
99th percentile),
silver (90th -
99th percentile),
arsenic (90th -
99th percentile),
bismuth (75th -
99th percentile), lead
(90th -
99th percentile), and
antimony (75th -
99th percentile) in
soil east of the existing geochemical grid completed in 1986 and
west of the geochemical grid completed in 2011. The total strike
length of the anomalous gold zone (> 90th percentile) is currently defined up to
1700 metres and has never been drill tested.
---------------------------------------------------------------------
|2011 - 2013 Soil |Ag ppm|As ppm|Au ppb|Bi ppm|Pb ppm|Sb ppm|
|Statistics | | | | | | |
|-------------------------------------------------------------------|
|Discovery : Count Numeric|837.0 |837.0 |837.0 |837.0 |837.0 |837.0 |
|-------------------------------------------------------------------|
|Discovery : Minimum |0.0 |0.6 |0.1 |0.0 |0.7 |0.0 |
|-------------------------------------------------------------------|
|Discovery : Maximum |10.0 |1320.0|406.0 |22.1 |728.0 |65.7 |
|-------------------------------------------------------------------|
|Discovery : Mean |0.9 |86.6 |15.8 |1.1 |42.4 |3.9 |
|-------------------------------------------------------------------|
|Discovery : Median |0.6 |38.3 |9.0 |0.6 |24.3 |2.4 |
|-------------------------------------------------------------------|
|Discovery : Standard |1.0 |132.9 |23.9 |1.6 |54.0 |5.2 |
|Deviation | | | | | | |
|-------------------------------------------------------------------|
|Discovery : Range |10.0 |1319.4|406.0 |22.1 |727.3 |65.7 |
|-------------------------------------------------------------------|
|Discovery : 25 percentile|0.3 |17.6 |4.5 |0.3 |14.1 |1.3 |
|-------------------------------------------------------------------|
|Discovery : 50 percentile|0.6 |38.3 |9.0 |0.6 |24.3 |2.4 |
|-------------------------------------------------------------------|
|Discovery : 75 percentile|1.1 |97.9 |18.2 |1.2 |47.8 |4.4 |
|-------------------------------------------------------------------|
|Discovery : 90 percentile|2.1 |226.0 |35.0 |2.4 |101.5 |8.3 |
|-------------------------------------------------------------------|
|Discovery : 95 percentile|2.8 |350.0 |49.1 |3.5 |145.2 |13.2 |
|-------------------------------------------------------------------|
|Discovery : 99 percentile|5.0 |661.0 |92.9 |9.0 |272.6 |27.5 |
---------------------------------------------------------------------
Two grab
samples of quartz vein material, CRFGR003 and MMFGR036, collected
from historic workings at the Melissa showing returned 1.72 gpt
Au/13.7 gpt Ag and 0.43 gpt Au/9.9 gpt Ag respectively. These
results are consistent with historic assays. A 5.0 metre chip
sample of silicified metasediments collected from TR13-008 located
35 metres northwest of the Melissa showing returned 0.14 gpt Au and
6.0 gpt Ag. The chip sample results are also consistent with
historic trench results completed in 2004.
A
Titan-IP survey completed in 2011 by Quantec Geoscience identified
twelve high priority targets in the Discovery Zone comprising five
zones of interest characterized by medium-strong chargeability and
medium-low resistivity. Both Target Zone A and Target Zone B
underlie the geochemically anomalous zone defined by soil
geochemistry. Follow up work is warranted to determine the full
potential of the greater Melissa Zone.
All
samples were submitted to ALS Minerals in Whitehorse for prep and
geochemical analysis. The following analytical techniques were used
for all rock samples: ME-ICP41, Au-AA23 30 g Fire Assay, and
Au-GRA21 30 g Fire Assay for all samples > 10 ppm Au. The
following analytical techniques were used for all soil and silt
samples: ME-MS41, Au-TL44, and Au-OR44 for all samples > 1 ppm
Au. The Company QAQC measures included insertion of external blanks
and standards into the sample stream for all rock chip samples. A
minimum of one standard and one blank sample was inserted for each
trench containing multiple chip/channel samples. In addition, the
lab was instructed to wet-sieve each sample prior to sample
preparation in order to minimize contamination from placer
gravels.
The 2013 program was
designed and managed by Mike McCuaig, P. Geo., of TerraLogic
Exploration Inc., of Cranbrook, BC.
Paul
Reynolds, B. Sc., P. Geo., Vice President Exploration for Northern
Freegold Resources Ltd., is the Qualified Person, as defined by NI
43-101, for the Freegold Mountain Project and has reviewed the
technical information in this release.
About
Northern Freegold
Northern
Freegold Resources Ltd. (TSX.V: NFR; OTCQX: NFRGF) trades in Canada
on the TSX Venture Exchange under the symbol "NFR" and in the
United States on the OTCQX under the symbol "NFRGF". Northern
Freegold is a growth oriented Canadian-based precious metals
exploration and development company. Northern Freegold is focused
on creating value through the advancement of the district scale
Freegold Mountain project, which hosts one of the largest
undeveloped gold and copper resources in the Yukon and the Burro
Creek gold and silver property in Arizona. For maps and more
information, please visit our website www.northernfreegold.com
PR Contact for Northern Freegold
Resources Ltd.:
Andy Hay, Corporate
Communications, +1 (604) 893-8757, andy@northernfreegold.com
On
behalf of the Board of Directors
Signed "John
Burges"
John
Burges, President and CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
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, 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 testing and the
estimation of reserves and resources; the need for cooperation of
government agencies and First Nations 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 change.
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