Felix Gold confirms ‘substantial’ gold zones and antimony at Alaska project

Assays from the final 17 holes from Felix Gold’s (ASX: FXG) Treasure Creek project have effectively outlined the orientation of mineralised gold zones at the NW Array prospect.

In addition, one of the holes being reported from the Alaska project returned high-grade antimony in the assays.

The company says this latest development during the current drilling program marks what it calls a “significant milestone”.

This drilling has unveiled the potential for an extended 2km-plus strike length, Felix reports.

Primary gold open at depth and in various directions

The drilling has also revealed the prospect of there being additional parallel trends, that prospect is supported by the continuation of soil anomalies.

Felix says the primary gold mineralisation is open at depth and in various directions.

Treasure Creek is located in Fairbanks gold mining district, in the Tintina gold province of Alaska.

The Tintina gold belt hosts a 220-million ounce documented gold endowment and is the site of some of the world’s largest gold mines and discoveries including Victoria Gold’s Eagle mine and Kinross Gold Corporation’s Fort Knox gold mine.

Grades surpass those at Tier 1 Fort Knox mine

Among the latest assays was a 9.1m intersection returning 1.18 grams per tonne gold from 96m, including 3m at 2.16g/t.

Other holes intersected 12.2m at 0.75g/t and 21.3m at 0.72g/t, both holes containing higher grade intervals.

Hole 176 not only returned 32m at 0.69g/t gold from 3m down hole (including 14.6m at 3.13g/t) but also two zones with antimony, respectively 1.5m at grades of 5% and 1.5m at 2.03%.

Managing director and chief executive officer Anthony Reilly said the strategic drilling approach is concentrated on targeting near surface oxide gold mineralisation.

These showcase grades are comparable to, or surpassing, the current head grades at the nearby Fort Knox gold mine operated by New York-listed Kinross Gold, he added.

Mr Reilly also points out that Kinross is now searching for additional ore supply and Felix has previously stated that one of its alternatives is supplying that treatment plant.

“Now that we have received all 45 assays results for gold and antimony, we are advancing delineation of the maiden mineral resource for the NW Array southern zone.”

He said this will provide a foundation for continued growth in 2024.

Felix holds four projects across the Fairbanks gold district, which has seen historical production of 12Moz.