Northern Freegold's Initial Metallurgical Test Results Show Excellent Gold Recoveries From Nucleus Deposit at Freegold Mountain
February 10 2010 - 8:15AM
Marketwired
Northern Freegold Resources Ltd. (TSX VENTURE: NFR) is pleased to
announce it has received non-optimized initial metallurgical
testwork results from the Nucleus gold deposit. The Nucleus deposit
has a NI 43-101 compliant inferred resource estimated at 1.08
million contained gold ounces(1). An updated resource will be
released during the first quarter of 2010. The deposit is located
within the Company's road accessible district scale Freegold
Mountain Project in the Yukon.
Highlights:
- Initial results indicate excellent overall gold recovery from
the Nucleus deposit material
- Oxidized and non-oxidized samples returned recoveries of 98%
gold on a 48 hour cyanidation bottle roll test
- Higher grade sulphide-rich samples recovered 86% gold on a 48
hour cyanidation bottle roll test, which increased to 92% when
combined with gravity concentration
- Gold contained in these samples responded very well to
extraction by either a combination of gravity concentration and
cyanidation or cyanidation alone
NFR commissioned G & T Metallurgical Services to conduct
preliminary metallurgical testing for gold recovery on three
separate composite samples that are representative of bulk tonnage
low grade oxidized and non-oxidized samples, as well as higher
grade sulphide-rich material that comprises the Nucleus deposit.
Northern Freegold is presently updating the 3D geological model in
the Nucleus Zone to incorporate the 44 drill holes from the 2009
drill program and an updated resource will be released during the
first quarter of 2010. To date, only 2% of the Freegold Mountain
project has been drilled.
The three composite samples from the Nucleus deposit were
selected from 33 separate diamond drill holes drilled between 2006
and 2008. The higher grade sulphide-rich composite sample averaged
10.09 g/t gold and was composed of samples from 11 drill holes. The
low grade oxidized composite sample averaged 0.59 g/t gold, and was
composed of samples from 16 drill holes. The low grade non-oxidized
composite sample averaged 0.54 g/t gold and was composed of samples
from 20 drill holes.
(1) (67.67 million tonnes @ 0.5 g/t gold with a 0.3 g/t cutoff;
see news release dated July 27, 2009).
Commenting on the test results, Bill Harris, NFR's Chairman
& COO stated, "Management is very pleased by the results of the
initial metallurgical testwork of material from the Nucleus Deposit
and NFR will continue to focus on building ounces on the Freegold
Mountain Project."
The technical information disclosed in this release has been
reviewed and approved by Wade Barnes, P. Geo.
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 Craig President & CEO
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.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Northern Freegold Resources Ltd. Debbie James Investor
Relations Manager 877-893-8757 or 604-893-8757
www.northernfreegold.com RENMARK FINANCIAL COMMUNICATIONS INC.
Christine Stewart or Dan Symons 416-644-2020 or 514-939-3989
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