Northern Freegold Intersects 304.8 Metres Averaging 0.47 g/t Au, 3.68 g/t Ag ... - MarketWatch (press release)
VANCOUVER, BRITISH COLUMBIA, Sep 22, 2011 (MARKETWIRE via COMTEX) -- Northern Freegold Resources Ltd. /quotes/zigman/430099 CA:NFR +3.45% (frankfurt:8NG) is pleased to announce results for the first nine drill holes completed on the Revenue Zone gold-rich porphyry system on the road-accessible Freegold Mountain Project, located 70 km west of Carmacks, Yukon. Several holes returned long intersections of gold, copper and molybdenum mineralization in the Revenue Zone.
Highlights include:
-- Hole RVD11-019 - 304.8 metres averaging 0.47 g/t Au, 3.68 g/t Ag, 0.12% Cu and 0.02% Mo (0.95 g/t AuEq), including 121.7 metres averaging 0.93 g/t Au, 6.2 g/t Ag, 0.16% Cu and 0.03% Mo (1.64 g/t AuEq). -- Hole RVD11-022 - 157.5 metres averaging 0.31 g/t Au, 3.1 g/t Ag, 0.14% Cu and 0.01% Mo (0.73 g/t AuEq), including 44 metres of 0.42 g/t Au, 4.53 g/t Ag, 0.19% Cu and 0.01% Mo (0.99 g/t AuEq). -- The holes reported here include in-fill and step-out holes drilled within and around the currently defined Revenue Target Deposit. Mineralization extends the Target Deposit 200m eastward, 300m northward and an additional 200m depth. -- The deposit is open laterally and at depth. Two diamond drills continue to operate on the property. Selected Drill Intervals from Revenue Zone(1) ------------------------------------------------------------------------ Drill Hole From To Length Au Ag Cu Mo AuEq (m)(2) (g/t) (g/t) (%) (%) (g/t)(3) ------------------------------------------------------------------------ RVD11-014 282.2 492.3 210.1 0.20 1.94 0.07 0.01 0.46 ------------------------------------------------------------------------ Incl. 300.9 330.7 29.8 0.39 1.54 0.18 0.02 1.02 ------------------------------------------------------------------------ And 387.9 409.9 22.0 0.38 1.59 0.05 0.01 0.62 ------------------------------------------------------------------------ And 452.6 465.5 12.9 0.50 1.64 0.13 0.03 1.10 ------------------------------------------------------------------------ And 479.1 485.1 6.1 1.24 11.67 0.24 0.00 1.92 ------------------------------------------------------------------------ RVD11-016 12.0 57.2 45.2 0.66 1.35 0.06 0.00 0.82 RVD11-016A 377.3 483.0 105.8 0.07 1.49 0.09 0.05 0.79 ------------------------------------------------------------------------ Incl. 391.4 427.4 36.0 0.10 2.37 0.15 0.11 1.66 ------------------------------------------------------------------------ RVD11-019 42.8 347.6 304.8 0.47 3.68 0.12 0.02 0.95 ------------------------------------------------------------------------ Incl. 55.2 89.0 33.8 0.35 5.26 0.24 0.01 1.06 ------------------------------------------------------------------------ And 141.5 263.2 121.7 0.93 6.20 0.16 0.03 1.64 ------------------------------------------------------------------------ RVD11-020 192.9 222.5 29.6 0.47 2.58 0.07 0.00 0.69 ------------------------------------------------------------------------ RVD11-020 242.4 399.1 156.7 0.16 2.53 0.10 0.00 0.42 ------------------------------------------------------------------------ Incl. 338.3 351.2 13.0 0.63 9.01 0.32 0.00 1.45 ------------------------------------------------------------------------ And 362.4 379.0 16.7 0.34 4.45 0.15 0.01 0.79 ------------------------------------------------------------------------ RVD11-020 437.5 502.7 65.2 0.41 3.28 0.14 0.00 0.77 ------------------------------------------------------------------------ RVD11-022 52.6 210.1 157.5 0.31 3.10 0.14 0.01 0.73 ------------------------------------------------------------------------ Incl. 72.3 95.4 23.1 0.36 4.37 0.20 0.01 0.94 ------------------------------------------------------------------------ And 102.9 147.3 44.4 0.42 4.53 0.19 0.01 0.99 ------------------------------------------------------------------------ And 161.9 204.1 42.2 0.25 3.12 0.14 0.01 0.71 ------------------------------------------------------------------------ RVD11-022 236.1 304.7 68.6 0.33 2.46 0.12 0.03 0.97 ------------------------------------------------------------------------ RVD11-022 461.6 501.8 40.2 0.22 2.53 0.03 0.03 0.60 ------------------------------------------------------------------------ (1) Please refer to table at end of release for complete set of results. (2) True widths unkown (3) Au equivalent metal prices: US$1,016.00/oz gold, US$2.95/lb copper, US$15.82/oz silver and US$34.88/kg molybdenum (3 yr average; no discount for metallurgical recovery in contained metal figures).
Revenue Target Deposit
Based on an evaluation of historic and 2010 drill hole data from the Revenue Zone gold-rich porphyry system the following target deposit was defined (See news release Feb. 24, 2011):
Revenue Zone Target Deposit --------------------------------------------------------------------------- Potential Potential Potential Potential Range of Ounces of Ounces of Lbs of Lbs of Potential Gold Silver Copper Molybdenum Tonnes (Grade) (Grade) (Grade) (Grade) --------------------------------------------------------------------------- 40 to 110 0.7 to 5.0 to 130 to 9 to Million 1.1 M Ozs 10.0 M Ozs 280 M lbs 18 M lbs (0.3 to (2.7 to (0.11 to (0.007 to 0.5 g/t) 3.7 g/t) 0.14%) 0.011%) ---------------------------------------------------------------------------
The target deposit extends for 1500 m in an eastward direction, and from surface to a depth of 250 m. It is open laterally and to depth. The goal of the 2011 drilling on the Revenue zone is to upgrade the Target Deposit to Inferred Resource, and to expand on the Target Deposit.
The project is being managed by GeoVector Management Inc. of Ottawa, Ontario http://www.geovector.ca under the supervision of A. Armitage, Ph.D., P.Geo. Dr. Armitage is the Exploration Manager for Northern Freegold and is the Qualified Person, as defined by NI 43-101, for the Freegold Mountain Project. Dr. Armitage has reviewed the technical information in this release.
Significant Gold, Copper and Silver Assay Intercepts ------------------------------------------------------------------------ Drill Hole From To Length Au Ag Cu Mo AUEQ (m)(2) (g/t) (g/t) (%) (%) (g/t)(3) ------------------------------------------------------------------------ RVD11-014 18.84 35.50 16.66 0.68 1.32 0.06 0.00 0.84 ------------------------------------------------------------------------ RVD11-014 48.40 112.55 64.15 0.16 0.72 0.07 0.00 0.34 ------------------------------------------------------------------------ Incl. 89.45 111.00 21.55 0.31 1.44 0.10 0.00 0.56 ------------------------------------------------------------------------ RVD11-014 165.95 276.20 110.25 0.11 1.95 0.05 0.01 0.32 ------------------------------------------------------------------------ Incl. 185.50 231.50 46.00 0.15 2.16 0.07 0.02 0.51 ------------------------------------------------------------------------ RVD11-014 282.20 492.25 210.05 0.20 1.94 0.07 0.01 0.46 ------------------------------------------------------------------------ Incl. 300.90 330.65 29.75 0.39 1.54 0.18 0.02 1.02 ------------------------------------------------------------------------ and 387.85 409.85 22.00 0.38 1.59 0.05 0.01 0.62 ------------------------------------------------------------------------ and 452.60 465.46 12.86 0.50 1.64 0.13 0.03 1.10 ------------------------------------------------------------------------ and 479.05 485.14 6.09 1.24 11.67 0.24 0.00 1.92 ------------------------------------------------------------------------ RVD11-015 292.25 320.00 27.75 0.08 1.45 0.07 0.02 0.41 ------------------------------------------------------------------------ RVD11-015 341.00 346.90 5.90 0.02 0.99 0.06 0.02 0.40 ------------------------------------------------------------------------ RVD11-016 12.00 57.20 45.20 0.66 1.35 0.06 0.00 0.82 ------------------------------------------------------------------------ Incl. 20.88 27.43 6.55 3.15 1.55 0.07 0.00 3.32 ------------------------------------------------------------------------ RVD11-016A 201.75 220.15 18.40 0.22 1.74 0.10 0.00 0.46 ------------------------------------------------------------------------ RVD11-016A 236.85 363.63 126.78 0.05 0.69 0.05 0.01 0.27 ------------------------------------------------------------------------ Incl. 287.50 296.90 9.40 0.18 1.34 0.11 0.00 0.42 ------------------------------------------------------------------------ and 301.66 317.48 15.82 0.06 0.76 0.05 0.01 0.25 ------------------------------------------------------------------------ and 322.80 342.84 20.04 0.01 0.77 0.05 0.05 0.63 ------------------------------------------------------------------------ and 349.50 361.00 11.50 0.02 1.34 0.11 0.02 0.44 ------------------------------------------------------------------------ RVD11-016A 377.25 483.00 105.75 0.07 1.49 0.09 0.05 0.79 ------------------------------------------------------------------------ 391.35 427.35 36.00 0.10 2.37 0.15 0.11 1.66 ------------------------------------------------------------------------ RVD11-016A 492.85 510.54 17.69 0.03 0.86 0.05 0.01 0.20 ------------------------------------------------------------------------ 446.23 481.66 35.43 0.03 0.83 0.05 0.02 0.38 ------------------------------------------------------------------------ RVD11-018 47.60 52.27 4.67 0.14 2.78 0.13 0.02 0.63 ------------------------------------------------------------------------ RVD11-018 119.77 135.00 15.23 0.04 0.20 0.01 0.02 0.23 ------------------------------------------------------------------------ RVD11-018 196.50 211.50 15.00 0.05 0.66 0.03 0.01 0.18 ------------------------------------------------------------------------ RVD11-018 253.50 258.00 4.50 0.16 1.30 0.07 0.00 0.35 ------------------------------------------------------------------------ RVD11-018 298.50 301.50 3.00 0.02 0.35 0.01 0.05 0.54 ------------------------------------------------------------------------ RVD11-018 307.50 319.50 12.00 0.05 0.40 0.01 0.01 0.23 ------------------------------------------------------------------------ RVD11-018 389.50 401.00 11.50 0.12 1.43 0.08 0.00 0.34 ------------------------------------------------------------------------ RVD11-018 451.33 457.50 6.17 0.02 0.35 0.03 0.02 0.24 ------------------------------------------------------------------------ RVD11-018 463.50 501.40 37.90 0.04 0.75 0.04 0.01 0.25 ------------------------------------------------------------------------ RVD11-019 29.10 36.45 7.35 0.16 1.51 0.09 0.01 0.43 ------------------------------------------------------------------------ RVD11-019 42.75 347.58 304.83 0.47 3.68 0.12 0.02 0.95 ------------------------------------------------------------------------ Incl. 55.20 89.00 33.80 0.35 5.26 0.24 0.01 1.06 ------------------------------------------------------------------------ and 110.45 124.25 13.80 0.21 2.13 0.11 0.03 0.74 ------------------------------------------------------------------------ and 141.50 263.17 121.67 0.93 6.20 0.16 0.03 1.64 ------------------------------------------------------------------------ and 290.94 304.20 13.26 0.21 1.86 0.09 0.02 0.66 ------------------------------------------------------------------------ RVD11-019 380.50 387.50 7.00 0.29 0.38 0.02 0.00 0.37 ------------------------------------------------------------------------ RVD11-020 106.40 117.41 11.01 0.51 3.19 0.13 0.00 0.84 ------------------------------------------------------------------------ RVD11-020 183.00 231.85 48.85 0.31 1.86 0.06 0.00 0.47 ------------------------------------------------------------------------ Incl. 192.94 222.54 29.60 0.47 2.58 0.07 0.00 0.69 ------------------------------------------------------------------------ RVD11-020 242.40 399.07 156.67 0.16 2.53 0.10 0.00 0.42 ------------------------------------------------------------------------ Incl. 338.25 351.20 12.95 0.63 9.01 0.32 0.00 1.45 ------------------------------------------------------------------------ and 362.35 379.00 16.65 0.34 4.45 0.15 0.01 0.79 ------------------------------------------------------------------------ RVD11-020 437.54 502.69 65.15 0.41 3.28 0.14 0.00 0.77 ------------------------------------------------------------------------ Incl. 483.11 494.70 11.59 1.73 13.49 0.54 0.01 3.09 ------------------------------------------------------------------------ RVD11-021 14.57 27.56 12.99 0.11 1.35 0.06 0.00 0.27 ------------------------------------------------------------------------ RVD11-021 58.56 67.85 9.29 0.10 0.88 0.04 0.00 0.24 ------------------------------------------------------------------------ RVD11-021 117.50 130.53 13.03 0.09 1.26 0.08 0.00 0.30 ------------------------------------------------------------------------ RVD11-022 52.60 210.10 157.50 0.31 3.10 0.14 0.01 0.73 ------------------------------------------------------------------------ Incl. 72.30 95.35 23.05 0.36 4.37 0.20 0.01 0.94 ------------------------------------------------------------------------ and 102.85 147.25 44.40 0.42 4.53 0.19 0.01 0.99 ------------------------------------------------------------------------ and 161.90 204.10 42.20 0.25 3.12 0.14 0.01 0.71 ------------------------------------------------------------------------ RVD11-022 215.00 362.15 147.15 0.19 1.56 0.08 0.02 0.56 ------------------------------------------------------------------------ Incl. 236.10 304.70 68.60 0.33 2.46 0.12 0.03 0.97 ------------------------------------------------------------------------ RVD11-022 368.15 381.10 12.95 0.06 0.99 0.03 0.02 0.34 ------------------------------------------------------------------------ RVD11-022 440.23 456.40 16.17 0.07 0.81 0.05 0.01 0.32 ------------------------------------------------------------------------ RVD11-022 461.60 501.80 40.20 0.22 2.53 0.03 0.03 0.60 ------------------------------------------------------------------------
Sampling Methodology, Quality Control and Assurance
All core samples from diamond drilling completed by Northern Freegold in 2011 follow NI 43-101 approved QA/QC protocols including insertion of blanks, commercial standards and duplicate core samples. For the 2011 program, core samples are split and shipped to ALS Laboratory's (ALS) sample preparation facility in Whitehorse. Samples submitted to this lab are prepared for shipping by logging into the ALS system, prepared by drying, crush to appropriate particle size and representatively split to a smaller size for shipping. The prepped samples are shipped to the main North American laboratory in North Vancouver, BC for final pulverizing and analysis. Samples were analyzed for gold by fire assay (FA) with an atomic absorption finish (AA) on 30 gram samples. All samples having more than 1,000 ppm gold were re-assayed by FA and a gravimetric finish. Each sample is also sent for multi-element analysis by the ICP-MS method, which includes Cu, Ag, Mo and W.
As part of in-house QA/QC ALS inserts certified gold standards, which are purchased from CDN Resource Labs. Standards are inserted and three pulp duplicates are analyzed for every 20 samples. Random additional repeats are also analyzed as required. Results from all internal QC samples and repeats are reported.
About Northern Freegold
Northern Freegold is a well-financed rapidly advancing Canadian-based precious metals exploration and development company. NFR 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. For further information and maps outlining the projects, please visit www.northernfreegold.com .
On behalf of the Board of Directors
Tim Termuende, P. Geo., Interim CEO and 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.
Neither 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.
Contacts: Northern Freegold Resources Ltd. Julie Hajduk Investor Relations Manager 604.893.8757 or Toll Free: 1.877.893.8757 604.893.8758 (FAX) www.northernfreegold.com
SOURCE: Northern Freegold Resources Ltd.
http://www.northernfreegold.com
Copyright 2011 Marketwire, Inc., All rights reserved.
Volume: 22,000
Sept. 22, 2011 12:40p
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