Northern Freegold Resources Ltd. (TSX
VENTURE:NFR)(OTCBB:NFRGF)(FRANKFURT:8NG) is pleased to announce
results from a 44 line km (approx. 13 km2 area) Titan-24 DC-IP
survey completed over the Stoddart Cu-Ag-Au-Mo Porphyry Target on
the road-accessible Freegold Mountain Project, located 70 km west
of Carmacks, Yukon. The Titan survey was completed to follow-up on
significant Cu-Ag-Au-Mo mineralization intersected during drilling
of the Stoddart Zone in 2007 and 2008.
Highlights include:
-- Titan Survey identifies 12 First Priority Targets (medium to high
chargeability with medium to low resistivity) within 5 Main Target
Zones; includes an additional 25 Second Priority Targets
-- The Stoddart Zone porphyry mineralization may be part of a much larger
porphyry system identified in the Nucleus and Revenue Zones, which
extends in an east-west direction for more than 6 km, and may extend
that porphyry system an additional 3 km along strike
-- Anomalies were identified over a strike length of 2.5km, widths of 2.5km
and vertical extents in excess of 500m
-- One of the 12 First Priority Targets corresponds to the 2007-2008
diamond drilling completed in the Stoddart Zone. This drilling
intersected significant Cu-Ag-Au-Mo mineralization (table of selected
intervals below). However, drilling only tested to a vertical depth of
250m which did not fully test the Titan anomaly in this area.
-- 10 of the 12 First Priority Targets have not been drilled and indicate
the potential for extensive mineralization within the Stoddart Zone
-- Based on the Titan-24 results and the previous drilling the Stoddart
Mineralization is open laterally and at depth
About the Stoddart Zone
The Stoddart Zone is located 8 km east of the Nucleus Zone.
Drilling in the Stoddart zone was completed in 2007 and 2008 to
follow-up on anomalous copper and gold in soil and trench samples.
Twelve diamond drill holes totaling 3,074m were completed. All
holes intersected extensive silicic and potassic altered
granodiorite containing disseminated sulphide mineralization. The
table below lists the most significant diamond drill results from
the Stoddart Zone (data previously released). These higher grade
intervals lie within much wider (100-200m) zones of anomalous
mineralization and alteration. Please see the Northern Freegold web
site for complete drill results.
Selected Drill Intervals from Stoddart Zone(1)
----------------------------------------------------------------------------
Drill Length Au Ag Cu Mo CuEq AuEq
Hole From To (m)(2) (g/t) (g/t) (%) (%) (%)(3) (ppm)(3)
----------------------------------------------------------------------------
07ST-01 177.50 190.00 12.50 0.23 4.9 0.34 0.02 0.59 1.18
----------------------------------------------------------------------------
07ST-01 222.20 232.25 10.05 0.15 4.4 0.41 0.01 0.57 1.14
----------------------------------------------------------------------------
07ST-02 133.30 140.70 7.40 0.13 4.8 0.31 0.01 0.47 0.94
----------------------------------------------------------------------------
07ST-02 144.50 151.50 7.00 0.16 6.4 0.40 0.02 0.65 1.29
----------------------------------------------------------------------------
07ST-02 204.00 207.25 3.25 0.52 8.9 0.51 0.00 0.87 1.73
----------------------------------------------------------------------------
08ST-04 173.75 176.80 3.05 0.14 5.2 0.34 0.02 0.56 1.11
----------------------------------------------------------------------------
08ST-05 105.15 109.80 4.65 0.19 2.9 0.41 0.01 0.55 1.10
----------------------------------------------------------------------------
08ST-05 183.30 197.80 14.50 0.12 2.6 0.29 0.00 0.39 0.78
----------------------------------------------------------------------------
08ST-06 86.30 90.10 3.80 0.16 2.6 0.36 0.00 0.48 0.96
----------------------------------------------------------------------------
08ST-06 102.00 107.00 5.00 0.10 2.7 0.31 0.00 0.40 0.79
----------------------------------------------------------------------------
08ST-07 111.25 117.34 6.09 0.01 0.7 0.31 0.02 0.43 0.85
----------------------------------------------------------------------------
08ST-07 171.00 184.85 13.85 0.16 5.4 0.42 0.03 0.70 1.39
----------------------------------------------------------------------------
08ST-09 115.00 119.70 4.70 0.16 4.3 0.31 0.02 0.54 1.07
----------------------------------------------------------------------------
08ST-09 165.90 170.70 4.80 0.15 4.6 0.36 0.01 0.51 1.01
----------------------------------------------------------------------------
08ST-09 239.40 242.90 3.50 0.18 2.0 0.48 0.02 0.68 1.36
----------------------------------------------------------------------------
(1) Drill data originally released in February 25th, 2008 and March 26th,
2009
(2) True widths unknown
(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).
The Freegold Mountain Project, including work in the Stoddart
Zone 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 VP Exploration 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.
About the Survey
The Titan-24 DC - IP survey was completed over a 34 day period
from June 23rd, 2011 to July 28th, 2011. A total of twelve lines
from 2.4 km to 4.0 km long, spaced approx. 300 m apart totalling 44
line km were surveyed. L5600E is at the west end and L8900E is at
the east end. All the lines are south - north in orientation. The
first two lines, L5600E and L5900E are single spread; rest of the
ten lines are double spread.
The exploration objective of the Titan-24 DCIP survey at the
Stoddart Zone was to detect potential porphyry mineralization to a
depth of 500 to 750m for drill targeting.
The Titan 24 Distributed Acquisition System (DAS) employs a
combination of multiplicity of sensors, 24-bit digital sampling,
and advanced signal processing. It provides three independent
datasets capable of measuring subsurface resistivity's (structure,
alteration & lithology) and chargeability (mineralization) to
depth.
The DC/IP component of the survey should provide an excellent
means of delineating target mineralization within 750m of
surface.
Survey Results
The main ore of interest for Northern Freegold Resources Ltd.
here is Cu-Au Porphyry deposits. The geophysical signature of this
kind of deposit could show up as medium - low resistivity anomaly
associated with strong - medium chargeability anomaly potentially
caused by the conductive gold/copper sulphide mineralization.
Depending on the grade and nature of the copper ore, its low
resistivity response may or may not be associated with a
corresponding chargeability response.
Based on the IP chargeability inversion models and the
association with DC resistivity, a total of thirty seven (37)
anomalous zones (described as Targets) have been identified for
follow up at Freegold Mountain Project from near surface to
approximately 700 meters depth. A subset of all the interpreted DC
and IP anomalous zones, twelve (12) have been classified as first
priority targets from shallow subsurface to a depth around 350m,
and twenty-five (25) zones are classified as second priority
targets extending to depth beyond 600 m.
The interpretation is based on the relative position and depth
of the anomalies on DC resistivity and IP chargeability sections.
The targets are classified and assigned a target priority according
to amplitude, size, depth and DC Resistivity and IP Chargeability
association as follows:
Target Priorities:
First
-- Anomalies at shallow depth within top 350 m, exhibiting medium to strong
IP response (chargeability greater than 35 milliradians), co-located
with medium to low DC resistivity response (rho less than 1905 ohm-m);
interpreted to be consistent with geological structures and could lead
to potential mineralization.
Second
-- Anomalies at depth within 700m, exhibiting medium to weak IP response
(chargeability less than 60 milliradians), co-located over or at contact
with medium to low DC resistivity zones (rho less than 1905 ohm-m);
interpreted to be consistent with geological structures and could
represent disseminated mineralization and/or alteration zones.
In addition to the main target zones defined here, other low
resistivity anomalous zones could be of potential interest but are
not picked as targets in this report.
2011 Exploration Program
Northern Freegold also announces the completion of the 2011
exploration program. The main purpose of the exploration program
was to upgrade the Au-Cu-Ag-Mo Revenue Zone from Target Deposit to
Inferred Resource. Seventeen drill holes totaling approx. 12,375m
have been completed in the Revenue Zone, with a total of 6796 core
intervals sampled for assay. In addition a 44 line-km Titan-24
DC-IP survey (this news release) and soil sampling was completed
over the Stoddart Cu-Ag-Au-Mo Porphyry Target. All soil and core
samples have been received by the lab for assay testing. Initial
results of the diamond drilling were released in September (See
news release on September 22, 2011). The remainder of the core
samples as well as the soil samples will be released as they are
received, compiled and interpreted. It is anticipated that the
results of the diamond drilling will be used to calculate the
resource on the Revenue Zone. Overall project supervision was
provided by A. Armitage, Ph.D., P.Geol., hereby identified as the
"Qualified Person" under N.I. 43-101.
About Northern Freegold
Northern Freegold is a well-financed, rapidly advancing
Canadian-based precious metals exploration and development company.
NFR brings wide-ranging 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.
Management believes the Revenue target deposit, the Nucleus
deposit and the Stoddart Zone are all part of a large scale
gold-rich porphyry system, which extends in an east-west direction
for more than 6 km. The system has the potential to host
multi-million ounce gold resources with multi-billion pound copper
resources similar to other porphyry deposits in the region.
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: 877.893.8757
604.893.8758 (FAX)www.northernfreegold.com
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