Northern Freegold Announces Additional Exploration Results From the Goldy Zone, Freegold Mountain Project, Yukon
January 29 2014 - 10:34AM
Access Wire
Vancouver, BC: January 29, 2014. Northern
Freegold Resources Ltd. (NFR: TSX-V, NFRGF: OTCQX)
is pleased to announce further results from the 2013
exploration program on the Freegold Mountain Project ("Freegold").
The project is 100% owned by Northern Freegold Resources Ltd. (the
"Company" or "Northern Freegold") and is road accessible, located
70 km west of Carmacks in the Dawson gold belt of southwestern
Yukon.
Goldy
Zone
The Goldy
Zone displays an affinity towards an epithermal type gold prospect
which is hosted within vein and breccia systems controlled by
splays of the Big Creek Fault Zone. The core of the Goldy prospect
occurs at the apparent intersection of major northwest and north
trending faults; at the contact between a Jurassic syenite and
Paleozoic metasediments of the Yukon Tanana Terrane.
Quartz-feldspar porphyry dykes have been observed within the
mineralized zone. Anomalous gold and arsenic in soil values have
been identified through historic sampling along these structures,
over a strike length of 2.3 km.
The
objectives of the 2013 program at the Goldy Zone were to conduct
orientation surveys over zones of known mineralization and to
extend the survey north of the historic grid, completed in 1987, to
determine if a structural "link" is present between the Goldy and
Dart Zones. The Dart showing lies 1.8 km north of the Goldy Zone.
The orientation survey was completed to provide the following
control: 1) ground truth historic geochemical results and 2) to
provide multi-element geochemistry of soils overlying mineralized
zones; an exercise which has never been completed for the Goldy
zone.
The 2013
geochemical survey from the Goldy-Dart Zone has successfully
delineated a 150 metre wide by 400 metre long extension of
coincident anomalous gold-arsenic-cadmium in soil north of the
existing geochemical grid completed in 1987. The total strike
length of the anomalous zone is currently defined up to 1.3 km
north of the Goldy showing. The Goldy zone has previously been
drill tested by the Company and has returned significant gold
mineralization (refer to news releases #08-22 and
#09-03).
Initial
data analysis completed by TerraLogic Exploration Inc. prior to
this year's field activities included compilation of historic drill
hole assays to identify elemental correlations with gold
mineralization. These correlations were then used to determine
which pathfinder elements could be used to delineate prospective
exploration zones. The data analysis concluded that both arsenic
(As) and cadmium (Cd) are pathfinder elements for gold
mineralization at the Goldy Zone, whilst silver (Ag), copper (Cu),
and lead (Pb) are pathfinder elements for gold mineralization at
the Dart Zone.
A total
of 12.9 line kilometres of geochemical surveys totalling 533
B-horizon and 5 C-horizon soil samples were collected during the
program. The 2013 geochemical survey from the
Goldy-Dart Zone has successfully delineated a 150 metre wide by 400
metre long extension of coincident anomalous gold-arsenic-cadmium
in soil north of the existing geochemical grid completed in 1987.
The total strike length of the anomalous zone is currently defined
up to 1.3 km north of the Goldy showing, which has previously been
drill tested by the Company.
----------------------------------------------------------------------
|2013 Soil Statistics |Au ppb|As ppm|Ag ppm|Cd ppm|Cu ppm|Pb ppm|
|--------------------------------------------------------------------|
|Goldy : Count Numeric |533.0 |533.0 |533.0 |533.0 |533.0 |533.0 |
|--------------------------------------------------------------------|
|Goldy : Minimum |0.5 |0.9 |0.0 |0.0 |3.7 |0.7 |
|--------------------------------------------------------------------|
|Goldy : Maximum |94.0 |572.0 |3.8 |15.1 |64.4 |496.0 |
|--------------------------------------------------------------------|
|Goldy : Mean |6.6 |38.4 |0.3 |0.3 |18.0 |12.8 |
|--------------------------------------------------------------------|
|Goldy : Median |4.0 |17.7 |0.2 |0.2 |17.1 |8.0 |
|--------------------------------------------------------------------|
|Goldy : Standard Deviation|10.4 |60.7 |0.3 |0.7 |6.5 |29.7 |
|--------------------------------------------------------------------|
|Goldy : 25 percentile |2.0 |10.5 |0.1 |0.1 |14.1 |6.0 |
|--------------------------------------------------------------------|
|Goldy : 50 percentile |4.0 |17.7 |0.2 |0.2 |17.1 |8.0 |
|--------------------------------------------------------------------|
|Goldy : 75 percentile |6.0 |40.8 |0.3 |0.3 |21.3 |12.4 |
|--------------------------------------------------------------------|
|Goldy : 90 percentile |13.0 |90.8 |0.6 |0.5 |26.0 |20.7 |
|--------------------------------------------------------------------|
|Goldy : 95 percentile |21.6 |134.7 |0.8 |0.6 |30.3 |32.3 |
|--------------------------------------------------------------------|
|Goldy : 99 percentile |71.3 |374.8 |1.5 |1.1 |35.9 |63.5 |
----------------------------------------------------------------------
Orientation surveys were completed over zones of interest
identified through historic trenching and geochemical soil surveys.
Exploratory pits were dug using an excavator to a depth where
samples could be collected from the B-Horizon/C-horizon interface.
Rock samples were also collected where possible to provide
analytical results which characterize the lithogeochemical
signature of the mineralization. Comparison of the data indicates
that soils overlying zones of mineralization are enriched in gold
and the key pathfinder elements identified above. B-horizon soil
samples were collected using soil augers.
The 2013
results indicate the potential for significant expansion of the
main Goldy Zone to the north. A 1.0 metre chip sample (AHFGR055)
located 475 metres north-northeast of the Goldy Zone returned an
assay value of 2.47 g/t Au. The sample appears to represent a splay
of the structure which hosts the main Goldy showing. A grab sample
(AHFGR054) of silica altered fault breccia, collected 20 metres
west of AHFGR055, returned an assay value of 1.50 g/t Au. A strong
gold-arsenic anomaly (95th-99th percentile)
identified in 1987, measuring 150 to 200 metres wide by 475 metres
long, connects the two zones. Mineralization observed in
AHFGR054-055 has similar geological and geochemical characteristics
as samples collected from the Goldy Zone. The coincident anomalous
soil geochemistry suggests that the two zones are connected along a
variably mineralized north-south trending structural corridor. This
area represents a high priority exploration target warranting
follow up work.
Results
from the 2013 program indicate that the Goldy Zone and the Dart
Zone appear to be discrete zones. A moderate
(80th-95th percentile)
gold, strong (90th-99th percentile)
silver, moderate (75th-99th percentile)
copper and strong (90th-99th percentile)
lead anomaly was identified in the immediate area of the historic
Dart workings and extends 200 metres to the northwest. The soil
anomaly is closed to the southeast and remains open to the
northwest. The Dart showing has yielded significant gold results in
the past, but is not currently ranked as a high priority
exploration target.
All
samples were submitted to ALS Minerals in Whitehorse for prep and
geochemical analysis. The following analytical techniques were used
for all rock samples: ME-ICP41, Au-AA23 30 g Fire Assay, and
Au-GRA21 30 g Fire Assay for all samples > 10 ppm Au. The
following analytical techniques were used for
all soil and silt samples: ME-MS41; Au-TL44, and Au-OR44 for all
samples > 1 ppm Au. The Company QAQC measures included insertion
of external blanks and standards into the sample stream for all
rock chip samples. A minimum of one standard and one blank sample
were inserted for each trench containing multiple chip/channel
samples. In addition, the lab was instructed to wet-sieve each
sample prior to sample preparation in order to minimize
contamination from placer gravels.
The 2013 program was
designed and managed by Mike McCuaig, P. Geo., of TerraLogic
Exploration Inc., of Cranbrook, BC.
Paul
Reynolds, B. Sc., P. Geo., Vice President Exploration for Northern
Freegold Resources Ltd., is the Qualified Person, as defined by NI
43-101, for the Freegold Mountain Project and has reviewed the
technical information in this release.
About
Northern Freegold
Northern
Freegold Resources Ltd. (TSX.V: NFR; OTCQX: NFRGF) trades in Canada
on the TSX Venture Exchange under the symbol "NFR" and in the
United States on the OTCQX under the symbol "NFRGF". Northern
Freegold is a growth oriented Canadian-based precious metals
exploration and development company. Northern Freegold is focused
on creating value through the advancement of the district scale
Freegold Mountain project, which hosts one of the largest
undeveloped gold and copper resources in the Yukon and the Burro
Creek gold and silver property in Arizona. For maps and more
information, please visit our website www.northernfreegold.com
PR Contact for Northern Freegold
Resources Ltd.:
Andy Hay, Corporate
Communications, +1 (604) 893-8757, andy@northernfreegold.com
On
behalf of the Board of Directors
Signed "John
Burges"
John
Burges, President and CEO
Neither the 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.
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, 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 testing and the estimation of reserves and
resources; the need for cooperation of government agencies and
First Nations 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 change.
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