Vancouver, BC: November 6, 2013. Northern Freegold Resources Ltd. (NFR: TSX-V, NFRGF: OTCQX) is pleased to announce the discovery of a new high grade gold occurrence and the completion of the 2013 exploration program at the Freegold Mountain Project ("Freegold"). The project is 100% owned by Northern Freegold (the "Company") and is road accessible, located 70 km west of Carmacks in the Dawson gold belt of southwestern Yukon.
An initial highlight of the 2013 program includes the discovery of a new high-grade gold occurrence named the Irene. This occurrence was discovered within a larger target area identified for follow-up as a result of an induced polarization survey completed by Northern Freegold in 2011. Thirty-four chip samples were collected from bedrock in six separate trenches at Irene. Five of the six trenches crossed the mineralized zone perpendicular to the suspected strike of the zone. Results included 11.30 gpt gold over 1.0 m, part of a larger 3.0 m interval which ran 7.11 gpt gold (see table below for complete trench results).
Attention was brought to the Irene area late in the program by local placer operators processing gravels in Guder Gulch. Upon inspection of the bedrock within the placer excavation, geologists found areas of extensive brecciation and alteration. A map of the Irene showing area can be found on the Company's website.
Irene Trench Result Highlights:
-------------------------------------------------------------- |Trench Name|Mineralized Intervals | |------------------------------------------------------------| |TR13-017 |0.93 gpt Au/6.5 m (including 3.57 gpt Au/1.5 m) | |------------------------------------------------------------| |TR13-018 |3.47 gpt Au/7.0 m (including 10.90 gpt Au/1.0 m)| |------------------------------------------------------------| |TR13-019 |2.24 gpt Au/7.0 m (including 3.05 gpt Au/3.0 m; | | |also including 4.82 gpt Au/1.0 m) | |------------------------------------------------------------| |TR13-020 |0.48 gpt Au/7.0 m (including 1.49 gpt Au/2.0 m) | |------------------------------------------------------------| |TR13-021 |7.11 gpt Au/3.0 m (including 10.1 gpt Au/2.0 m; | | |also including 11.3 gpt Au/1.0 m) | |------------------------------------------------------------| |TR13-022 |1.65 gpt Au/2.5 m | --------------------------------------------------------------
The goal of the 2013 program was to assess select areas of the property, east of the Nucleus and Revenue deposits, which have previously shown potential to host high grade-epithermal style gold mineralization, but have seen only limited exploration in recent years. A total of 216 rock samples and 1176 soil samples were obtained over the course of the 21 day exploration campaign.
Gold mineralization at Irene is hosted in veins and breccias at the contact between a granitoid stock and metasediments. Mineralization is currently believed to be controlled by a property scale structural corridor which parallels the intrusive-metasediment contact. This structural corridor is part of the Big Creek Fault zone. Mineralogy indicates that the occurrence has an affinity towards a low-sulphidation epithermal gold system. The current extent of the Irene Zone extends 80 metres along strike and remains open in all directions. Bedrock exposure in the immediate area is encumbered by extensive gravel cover. A map and table with detailed trench results is posted on the Company's website.
President and CEO, John Burges states, "We are very excited by this new high grade discovery and the potential implications it has on this under-explored area of the ~ 200 square kilometer Freegold Mountain Property. Irene represents a very prospective and high priority target for future exploration."
The company and its consultants are currently compiling and reviewing all data from the 2013 program. Further results from the exploration program will be released by the Company once data analysis and interpretation is complete.
All samples were submitted to ALS Minerals ("ALS") in Whitehorse for prep. Geochemical analysis was completed at ALS' lab in Vancouver. The following analytical techniques were used for all samples: ME-ICP41, Au-AA23 30 g Fire Assay and Au-GRA21 30 g Fire Assay for all samples >10 ppm Au. The Company's 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 was inserted for each trench. In addition, the lab was instructed to wet-sieve each sample prior to sample preparation in order to minimize contamination from placer gravels.
Northern Freegold engaged TerraLogic Exploration Inc. to oversee the 2013 exploration program at Freegold Mountain. Project geologist, Mike McCuaig, B.Sc. P.Geo., designed and managed the 2013 program. TerraLogic has been operating mineral exploration projects in North America since 2004 and has extensive experience in Yukon Territory.
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
On behalf of the Board of Directors
Signed "John Burges"
John Burges, President and CEO
Click Image To View Full Size
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.