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05.05.2010
Fire River Gold Announces 3.7 opt (128 g/t) Gold over 16.7 ft (5.1 m), Nixon Fork Gold Mine, Alaska
Fire River Gold Announces 3.7 opt (128 g/t) Gold over 16.7 ft (5.1 m), Nixon Fork Gold Mine, Alaska
• 3.7 opt (128 g/t) gold over 16.7 ft (5.1 m) in hole N07U048
• including 6.7 opt (231 g/t) gold over 1.6 ft (0.5 m)
• including 7.7 opt (264 g/t) gold over 4.9 ft (1.5 m)
• 2.2 opt (77 g/t) gold over 4.6 ft (1.4 m) in hole N07U047
• Results pending for 76 additional underground holes
• Results pending for 7 additional surface holes
• Geological re-assessment work 50% complete; resource update Fall 2010
May 5, 2010. Vancouver, Canada - Fire River Gold Corp. (TSX-V: FAU; OTCQX: FVGCF; FSE: FWR) ("FAU" or the "Company") continues to announce high grade assay results from the ongoing re-evaluation program from its 100% owned Nixon Fork Gold Mine Project in Alaska. The Company has received assay results from four holes with hole N07U048 returning a bonanza grade intercept of 3.7 opt gold (128 g/t Au) over 16.7 ft (5.1 metres) including 6.7 opt (231 g/t) Au over 1.6 ft (0.5 metres) and including 7.7 opt gold (264 g/t) Au over 4.9 ft (1.5 m) as part of the ongoing geological re‐evaluation program for the Nixon Fork Gold Mine Project in Alaska.
In the years 2007 to 2008, the former operator drilled 9400 metres in 110 holes, the results of which have never been previously disclosed to the public. This release is the second reporting of relogging and sampling of drill holes completed in 2007. An additional 83 drill holes from 2007 have assays pending or are pending QAQC evaluation and will be the subject of future releases.
Because the 2007 and 2008 results were not formerly reported, a careful review was initiated by Fire River of all quality control and quality assurance procedures used by the former operator. Although original check assays from the 2007 drill program were not documented, it is clear, however, that certified standards were used. The re-sampling program of the 2007 drill core is essentially a modified field duplicate exercise of the original assay results.
The re-sampling of the remaining half‐cores, were fully analyzed except in rare cases where quarter‐cores were used. Sampling of core‐duplicates as compared to FAU's pulp‐duplicates can produce a high degree of variability in the results due to the ʺnugget effectʺ of gold mineralization that occurs at Nixon Fork. This nugget effect was clearly evident in the bonanza grades reported for the 2008 drilling.
Table 1 illustrates the most recent significant intercepts for drill holes relogged and sampled during this program. These drill holes were completed in the Crystal decline around the 3300 zone near the 220 ft level. Most of the drill program completed in 2007 was designed to test projections of known mineralized zones, such as the 3300 zone with modest step-outs down and up dip as well as along strike. Step-outs ranged from 10 to more than 40 metres from known zones.
Table 2 illustrates a comparison of the 2010 reassay field duplicate samples. In general, the results match up very well.
Table 1: List of 10 Drill holes completed in 2007.
Hole From To Length Length Au Au Location
Number (metres) (metres) (feet) (metres) (opt) (gpt)
N07U047 22.6 24.2 5.3 1.6 1.9 65 3300 zone
N07U048 12.7 18 17.4 5.3 2.9 99 3300 zone
including 16.5 18 4.9 1.5 7.6 261
N07U020 30 32 6.6 2.0 0.01 0.4 3300 zone
N07U042 54.6 55.9 4.3 1.3 0.98 31 3300 zone
Table 2: A Comparison of the Original to Check Assays for the 2008 Drilling.
ORIGINAL ASSAYS CHECK ASSAYS
Field Duplicates
Hole From To Length Au From To Length Au
Number (metres) (metres) (metres) (gpt) (metres) (metre) (metres) (gpt)
N07U047 22.6 24.2 1.6 65 22.7 24.1 1.4 77
N07U048 12.7 18 5.3 99.4 12.9 18 5.1 128
including 16.5 18 1.5 260.8 12.9 13.4 0.5 231
including 16.5 18 1.5 264
N07U020 30 32 2 13.90 30.00 32 2 8.5
N07U042 54.6 55.9 1.3 30.70 54.90 55.9 1 18.6
Every effort has been made to replicate the previous sample intervals except when a previous sample crossed a lithological or mineralized boundary. In these cases the new 2010 samples were terminated at such boundaries.
The differences in lengths of the intervals may account for some of the variability in gold grades. In general, the assays are in conformity, especially for a comparison of field duplicate samples in a high‐grade, coarse gold system.
Relogging and sampling of the historic core is of critical importance to understanding the controls of gold mineralization as well as gaining confidence in the high grades. The differences in grades shown are typical of high grade, gold deposits with a significant nugget distribution.
For additional details, please refer to FAU’s April 20th, March 23rd and March 31st press releases, which include the results from the first 33 holes, the geological re-assessment program, historic site production, a description of the deposits, additional information on the QA/QC measures and a description of our planned 2010 exploration drilling program.
The Nixon Fork project produced significant bi-product copper and silver. Until the closure of the mine in 2007, reported copper production was 1.27 million lbs and silver production was 19,566 ounces from 106,137 tonnes mined. Historic recovered grades are about 0.6% for copper and 0.18 opt for silver.
The project is being managed by Richard Goodwin, P.Eng, VP Mining for Fire River Gold and is the Qualified Person for this news release.
About Fire River Gold Corp.
Fire River Gold Corp. is a near term production company with a superior technical team focused on bringing it's flagship project: the Nixon Fork Gold Mine, back into production within the next 12 months. The Nixon Fork Gold Mine is a fully permitted and bonded gold mine with past production values averaging 1.4 opt (42 gpt). Nixon Fork is located within Alaska's Tintina Gold Belt, which hosts numerous world class deposits. Fire River Gold is a member of the International Metals Group (www.internationalmetalsgroup.com).
On behalf of the Board of Directors
Harry Barr
President & C.E.O.
Further Information: Tel: +1 604 685 1870; Fax: +1 604 685 8045
Email: info@firerivergold.com or visit www.firerivergold.com
2303 West 41st Avenue, Vancouver, B.C., Canada, V6M 2A3
Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be reached nor that the proposed operations will be economically viable. 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. 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 accuracy of this release. We seek safe harbour.
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• 3.7 opt (128 g/t) gold over 16.7 ft (5.1 m) in hole N07U048
• including 6.7 opt (231 g/t) gold over 1.6 ft (0.5 m)
• including 7.7 opt (264 g/t) gold over 4.9 ft (1.5 m)
• 2.2 opt (77 g/t) gold over 4.6 ft (1.4 m) in hole N07U047
• Results pending for 76 additional underground holes
• Results pending for 7 additional surface holes
• Geological re-assessment work 50% complete; resource update Fall 2010
May 5, 2010. Vancouver, Canada - Fire River Gold Corp. (TSX-V: FAU; OTCQX: FVGCF; FSE: FWR) ("FAU" or the "Company") continues to announce high grade assay results from the ongoing re-evaluation program from its 100% owned Nixon Fork Gold Mine Project in Alaska. The Company has received assay results from four holes with hole N07U048 returning a bonanza grade intercept of 3.7 opt gold (128 g/t Au) over 16.7 ft (5.1 metres) including 6.7 opt (231 g/t) Au over 1.6 ft (0.5 metres) and including 7.7 opt gold (264 g/t) Au over 4.9 ft (1.5 m) as part of the ongoing geological re‐evaluation program for the Nixon Fork Gold Mine Project in Alaska.
In the years 2007 to 2008, the former operator drilled 9400 metres in 110 holes, the results of which have never been previously disclosed to the public. This release is the second reporting of relogging and sampling of drill holes completed in 2007. An additional 83 drill holes from 2007 have assays pending or are pending QAQC evaluation and will be the subject of future releases.
Because the 2007 and 2008 results were not formerly reported, a careful review was initiated by Fire River of all quality control and quality assurance procedures used by the former operator. Although original check assays from the 2007 drill program were not documented, it is clear, however, that certified standards were used. The re-sampling program of the 2007 drill core is essentially a modified field duplicate exercise of the original assay results.
The re-sampling of the remaining half‐cores, were fully analyzed except in rare cases where quarter‐cores were used. Sampling of core‐duplicates as compared to FAU's pulp‐duplicates can produce a high degree of variability in the results due to the ʺnugget effectʺ of gold mineralization that occurs at Nixon Fork. This nugget effect was clearly evident in the bonanza grades reported for the 2008 drilling.
Table 1 illustrates the most recent significant intercepts for drill holes relogged and sampled during this program. These drill holes were completed in the Crystal decline around the 3300 zone near the 220 ft level. Most of the drill program completed in 2007 was designed to test projections of known mineralized zones, such as the 3300 zone with modest step-outs down and up dip as well as along strike. Step-outs ranged from 10 to more than 40 metres from known zones.
Table 2 illustrates a comparison of the 2010 reassay field duplicate samples. In general, the results match up very well.
Table 1: List of 10 Drill holes completed in 2007.
Hole From To Length Length Au Au Location
Number (metres) (metres) (feet) (metres) (opt) (gpt)
N07U047 22.6 24.2 5.3 1.6 1.9 65 3300 zone
N07U048 12.7 18 17.4 5.3 2.9 99 3300 zone
including 16.5 18 4.9 1.5 7.6 261
N07U020 30 32 6.6 2.0 0.01 0.4 3300 zone
N07U042 54.6 55.9 4.3 1.3 0.98 31 3300 zone
Table 2: A Comparison of the Original to Check Assays for the 2008 Drilling.
ORIGINAL ASSAYS CHECK ASSAYS
Field Duplicates
Hole From To Length Au From To Length Au
Number (metres) (metres) (metres) (gpt) (metres) (metre) (metres) (gpt)
N07U047 22.6 24.2 1.6 65 22.7 24.1 1.4 77
N07U048 12.7 18 5.3 99.4 12.9 18 5.1 128
including 16.5 18 1.5 260.8 12.9 13.4 0.5 231
including 16.5 18 1.5 264
N07U020 30 32 2 13.90 30.00 32 2 8.5
N07U042 54.6 55.9 1.3 30.70 54.90 55.9 1 18.6
Every effort has been made to replicate the previous sample intervals except when a previous sample crossed a lithological or mineralized boundary. In these cases the new 2010 samples were terminated at such boundaries.
The differences in lengths of the intervals may account for some of the variability in gold grades. In general, the assays are in conformity, especially for a comparison of field duplicate samples in a high‐grade, coarse gold system.
Relogging and sampling of the historic core is of critical importance to understanding the controls of gold mineralization as well as gaining confidence in the high grades. The differences in grades shown are typical of high grade, gold deposits with a significant nugget distribution.
For additional details, please refer to FAU’s April 20th, March 23rd and March 31st press releases, which include the results from the first 33 holes, the geological re-assessment program, historic site production, a description of the deposits, additional information on the QA/QC measures and a description of our planned 2010 exploration drilling program.
The Nixon Fork project produced significant bi-product copper and silver. Until the closure of the mine in 2007, reported copper production was 1.27 million lbs and silver production was 19,566 ounces from 106,137 tonnes mined. Historic recovered grades are about 0.6% for copper and 0.18 opt for silver.
The project is being managed by Richard Goodwin, P.Eng, VP Mining for Fire River Gold and is the Qualified Person for this news release.
About Fire River Gold Corp.
Fire River Gold Corp. is a near term production company with a superior technical team focused on bringing it's flagship project: the Nixon Fork Gold Mine, back into production within the next 12 months. The Nixon Fork Gold Mine is a fully permitted and bonded gold mine with past production values averaging 1.4 opt (42 gpt). Nixon Fork is located within Alaska's Tintina Gold Belt, which hosts numerous world class deposits. Fire River Gold is a member of the International Metals Group (www.internationalmetalsgroup.com).
On behalf of the Board of Directors
Harry Barr
President & C.E.O.
Further Information: Tel: +1 604 685 1870; Fax: +1 604 685 8045
Email: info@firerivergold.com or visit www.firerivergold.com
2303 West 41st Avenue, Vancouver, B.C., Canada, V6M 2A3
Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be reached nor that the proposed operations will be economically viable. 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. 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 accuracy of this release. We seek safe harbour.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA31811Q1063">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA31811Q1063</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.