VANCOUVER,
Dec. 10, 2012 /CNW/ - Fire River Gold
Corp. (TSXV: FAU), (OTCQX: FVGCF), (FSE: FWR) (the "Company", "Fire
River") is pleased to announce results from its 2012 surface
diamond drilling program (Figure 1) at its wholly owned Nixon Fork
Gold Project in Alaska. Fire
River completed 38 surface diamond drill holes totalling 2976
metres targeting resource expansion at the Mystery Mine. Twenty of
38 drill holes intercepted significant gold, silver and copper
mineralization, a very high success ratio.
http://firerivergold.com/i/misc/FAU101212p1.jpg
Figure 1: Plan view of the Mine site
showing the location of the camp and mill sites, airfield, and the
Crystal and Mystery portals. All summer 2012 surface drilling
was from the Mystery vent raise/boiler area pad, above the Mystery
portal.
Drilling highlights include:
- 7.6 metres grading 50.26 g/t gold in drill hole
N12-014*
- 8.3 metres grading 36.75 g/t gold in drill hole
N12-001
- 6.1 metres grading 31.83 g/t gold in drill hole
N12-012
Blane Wilson,
President and CEO of Fire River, commented: "We are extremely
pleased with these high grade gold and silver drill hole intercepts
at the Mystery Mine. The drilling was designed to define and
expand the known resources at the mine and to better understand the
geologic controls of higher grade gold and silver
mineralization. It is important to note the very high grades
associated with some of the intercepts such as, 3.7 metres grading
96.6 g/t gold, 84 g/t silver and 6.7% copper in drill hole
N12-014*. These higher grade zones will contribute to an
optimized mine plan for the Mystery Mine and potentially provide a
more consistent high grade feed for the mill."
* Note: In hole N12-014, the interval
between16.15 to 23.77 has approximately 50% core recovery, and
therefore, the data presented here is the weighted average of the
material present and may not be representative of the actual grade
of the intercept. The poor recovery is most likely due to the
fine grain nature of oxidized material being flushed during the
drilling process. No voids were noted in this interval.
Table summarizing significant drill intercepts from
the 2012 surface drill program:
Drill Hole |
From
(metres) |
To
(metres) |
Width
(metres) |
Gold
(g/t) |
Silver
(g/t) |
Copper
(%) |
N12-001 |
27.84 |
36.15 |
8.31 |
36.75 |
22.55 |
1.6 |
Including |
27.84 |
31.70 |
3.86 |
67.38 |
39.3 |
2.67 |
N12-003 |
15.85 |
17.37 |
1.52 |
6.66 |
4 |
0.27 |
N12-005 |
12.34 |
13.11 |
0.77 |
12.65 |
7 |
0.33 |
Including |
11.28 |
13.11 |
1.83 |
12.65 |
7 |
0.33 |
N12-006 |
28.35 |
32.92 |
4.57 |
5.55 |
12.3 |
0.66 |
Including |
29.87 |
31.39 |
1.52 |
9.75 |
9 |
0.38 |
N12-008 |
19.20 |
21.59 |
2.39 |
3.79 |
5.6 |
0.43 |
N12-009 |
19.20 |
20.73 |
1.53 |
3.35 |
1 |
0.04 |
N12-011 |
13.11 |
14.63 |
1.52 |
2.36 |
3 |
0.19 |
N12-012 |
28.35 |
34.44 |
6.09 |
31.83 |
37 |
2.28 |
Including |
29.87 |
32.92 |
3.05 |
49.31 |
62 |
3.75 |
N12-013 |
2.13 |
3.96 |
1.83 |
6.14 |
75 |
0.82 |
N12-014* |
15.22 |
16.15 |
0.93 |
33.4 |
28 |
0.83 |
|
16.15 |
23.77 |
7.62 |
50.26 |
42.36 |
3.37 |
Including |
16.15 |
19.88 |
3.73 |
96.6 |
84.37 |
6.72 |
Including |
19.10 |
19.88 |
0.78 |
141 |
165 |
10.4 |
N12-015 |
5.86 |
8.62 |
2.76 |
6.08 |
11.9 |
1.06 |
Including |
6.92 |
7.42 |
0.50 |
23.1 |
39 |
0.81 |
|
25.16 |
26.26 |
1.10 |
3.23 |
14 |
0.64 |
|
29.87 |
34.44 |
4.57 |
13.17 |
35.3 |
2.35 |
Including |
32.92 |
34.44 |
1.52 |
28.4 |
31 |
2.31 |
N12-016 |
10.06 |
14.63 |
4.57 |
25.67 |
85.1 |
1.78 |
Including |
10.06 |
10.58 |
0.52 |
123.5 |
229 |
8.89 |
Also
including |
12.49 |
13.85 |
1.36 |
27.2 |
163 |
0.54 |
|
23.77 |
26.67 |
2.90 |
81.33 |
5.96 |
0.64 |
Including |
23.77 |
24.50 |
0.73 |
214 |
8 |
0.49 |
N12-018 |
2.44 |
3.96 |
1.52 |
2.62 |
23 |
1.02 |
|
34.14 |
35.66 |
1.52 |
2.98 |
0.5 |
0 |
N12-019 |
32.92 |
34.44 |
1.52 |
3.13 |
6 |
0.18 |
N12-020 |
0.00 |
5.49 |
5.49 |
19.23 |
125 |
1.32 |
|
10.06 |
11.58 |
1.52 |
2.27 |
55 |
1.18 |
|
24.40 |
25.30 |
0.90 |
2.26 |
28 |
1.57 |
|
31.87 |
32.92 |
1.05 |
2.35 |
74 |
2.88 |
N12-021 |
28.59 |
29.72 |
1.13 |
71.6 |
18 |
1.09 |
|
31.77 |
33.43 |
1.66 |
11.35 |
20 |
1.34 |
N12-022 |
5.18 |
5.48 |
0.30 |
2.42 |
15 |
0.43 |
|
16.15 |
17.67 |
1.52 |
4.47 |
0.5 |
0.02 |
N12-026 |
10.06 |
11.58 |
1.52 |
17.2 |
8 |
0.16 |
|
19.20 |
20.73 |
1.53 |
6.51 |
9 |
0.66 |
N12-028 |
31.39 |
32.92 |
1.53 |
6.04 |
0.5 |
0.01 |
|
35.87 |
37.49 |
1.62 |
23.3 |
25 |
1.56 |
N12-029 |
41.76 |
43.43 |
1.67 |
53.2 |
2 |
0.01 |
http://firerivergold.com/i/misc/FAU101212p2.jpg
Figure 2: Cross-section view, looking
west, of drill holes with significant intercepts with respect to
the Mystery Mine. Significant intercepts are shown with the
large diameter rods on drill hole traces.
About Fire River Gold:
Fire River Gold Corp.'s flagship property is the
wholly owned Nixon Fork Gold Project located in the Tintina Gold
Belt, Central Alaska.
Operations at Nixon Fork recommenced in July
2011. Nixon Fork is a past producing mine with a high grade
production history, and a low capital requirement due to
pre-existing infrastructure. The mine operates year-round producing
both gold concentrate and doré bars. District scale
exploration potential provides additional upside for the
project.
All drill intercepts and corresponding assay
values reported in this news release, have been reviewed and
approved by David D. Adams, MS, BS,
CPG, P.Geo., who is a qualified person under the definitions
established by National Instrument 43-101. Drill core at Nixon
Fork is boxed and covered, at the drill rig and moved to Nixon
Fork's logging and sample preparation facilities by Fire River
personnel. The core is then split down the centre using a
typical table fed circular rock saw normally at one metre
intervals. One half of the core is sent for assay to ALS Minerals
in Anchorage, AK where they are
dried, crushed, and representative splits are transported to ALS
Minerals labs in either Reno, NV
or Vancouver, BC for assay, while
the other half is returned to the core box and stored at Nixon
Fork's sampling facility in a secure area. ALS Minerals
complies with the requirements for the International Standards ISO
9001:2000 and ISO 17025:1999. Analysis includes Fire Assay with
gravimetric finish for gold and ICP for 33 other elements. ALS
Minerals is at arm's length to Fire River. Nixon Fork's QA/QC procedures include the
regular use of blanks, standards and duplicate samples. As a
rough estimate, the true thickness of the above intercepts is
approximately 76%.
ON BEHALF OF THE BOARD OF DIRECTORS
FIRE RIVER GOLD CORP.
"Blane W. Wilson"
Blane W.
Wilson
President and CEO
_____________________________________________________________________________
Cautionary Statement Regarding Forward-Looking
Information
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. This news release
contains forward-looking statements regarding the business and
operations of Fire River Gold. In particular, statements regarding
use of proceeds and production targets in the upcoming years are
forward-looking statements. 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 Fire River's plans or expectations include
risks relating to the actual results of current exploration
activities, fluctuating gold prices, possibility of equipment
breakdowns and delays, exploration cost overruns, availability of
capital and financing, general economic, market or business
conditions, regulatory changes, timeliness of government or
regulatory approvals and other risks detailed herein and from time
to time in the filings made by Fire River with securities
regulators. Fire River expressly disclaims any intention or
obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise
except as otherwise required by applicable securities
legislation.
SOURCE Fire River Gold Corp.