Northern Freegold Intersects 304.8 Metres Averaging 0.47 g/t Au, 3.68 g/t Ag, 0.12% Cu and 0.02% Mo at the Revenue Zone, Free...
23 September 2011 - 2:25AM
Marketwired
Northern Freegold Resources Ltd. (TSX VENTURE: NFR)(OTCBB:
NFRGF)(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
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