Vancouver, BC / ACCESSWIRE / June 19, 2014 / Northern Freegold Resources Ltd. (NFR: TSX-V, NFRGF: OTCQX) (the "Company") is pleased to announce that the 2014 exploration program at the Freegold Mountain project ("Freegold") is underway. The Freegold project is 100% owned by Northern Freegold and is road accessible, located 70 km west of Carmacks, Yukon, in the Dawson Range.
The 2014 exploration program will build on the 2013 discovery of the Irene showing and will consist of trench mapping and sampling, prospecting and ground magnetic and electromagnetic surveys.
The 2013 exploration program was successful in locating a significant new mineral occurrence which has been named the "Irene". Located 1.2 km north of the Stoddart prospect and 4.6 km east of the Revenue Deposit, the Irene occurrence is comprised of structurally controlled epithermal gold mineralization. Bedrock sampling confirmed gold mineralization over an area measuring 6.5 metres true width by 80.0 metres along strike with gold assays from trench TR13-021 returning 7.11 gpt Au over 3.0 metres including 11.35 gpt over 1.0 metre (see press releases dated November 6, 2013 and February 27, 2014). The zone remains open in all directions with bedrock exposure in the immediate area encumbered by extensive gravel cover. This new discovery highlights the potential for high-grade gold mineralization at surface, in an under-explored area of the property.
The Freegold Mountain project is located within the Dawson Range and covers a fertile and very prospective portion of the Big Creek fault Zone and is endowed with two NI 43-101 mineral deposits, the Nucleus Au-Ag-Cu deposit and the Revenue Cu-Au-Mo-Ag deposit, as well as numerous gold showings which represent porphyry-hydrothermal systems related to Mid and Late Cretaceous magmatic events. It is believed that the Nucleus Deposit and the Revenue Deposit along with the Stoddart Zone are all part of a large scale gold-rich hydrothermal system, which extends in a north-westerly direction for more than six kilometres.
The project has significant infrastructure advantages. It is located approximately 200 kilometres northwest of Yukon's capital and industrial centre in Whitehorse. It is road accessible from Whitehorse along the main Klondike Highway, a paved all-weather highway running from Whitehorse to Dawson City, and onwards along a 70 kilometre government maintained road from Carmacks to the project.
The 2014 exploration program is designed and managed by Mike McCuaig, P. Geo., of TerraLogic Exploration Inc., of Cranbrook, BC.
Paul Reynolds, 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.
The Company would also like to announce that Dawson Gold Corp. has dropped its option to gain 100% interest in the Tad/Toro property, Yukon. As a result, Northern Freegold retains 100% interest in this project. The Tad/Toro property is located on Hayes Creek approximately 100 kilometres northwest of Carmacks. The property is situated along the Big Creek Fault Zone and is prospective for porphyry copper-gold mineralization. All claims forming the property are valid until 2019 or later.
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 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
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.
SOURCE: Northern Freegold Resources Ltd.
Leave a comment...