Felix Gold hits further wide gold and critical mineral intersections in Alaska
Felix Gold (ASX: FXG) has received further indications of the precious and critical metal potential of its large Treasure Creek Project in the historic Fairbanks Gold Mining District in Alaska.
Newly received assay results from a further 17 NW Array deposit holes has confirmed wide, gold hits along with promising high-grade returns of the critical mineral stibnite (antimony).
The latest results continue Felix Gold’s recent run of significant assay findings at Treasure Creek, with the company continuing to confirm the project’s commercial potential.
Encouraging results continue
Managing director and chief executive officer, Anthony Reilly, said the company is encouraged to see the continuation of extensive zones of shallow gold mineralisation with many high-grade holes including 30.5m at 3.02 grams per tonne gold from 7.6m.
“Additionally, the identification of further high-grade NE trending zones including 4.6m at 7.1 grams per tonne (gold) from 19.8m is very positive.”
Notably, the high-grade and the near surface location of the mineralisation highlights the potential for a low cost open-pitable operation at Treasure Creek.
Antimony by-product potential
Mr Reilly said the potential for an antimony by-product continues to unfold as the higher-grade gold intersections continue to show an association with high grade stibnite including 6.1m at >5% antimony (Sb) from 30.6m.
“Work is ongoing to understand the trend and structure of the stibnite.”
The Fairbanks Gold Mining District and the wider Tintina Gold Province where Treasure Creek is located have many systems that include gold-antimony mineralisation.
The nearby Scrafford mine located on Felix tenure approximately to 2 km east of NW Array, produced one million kilograms of stibnite, with the average grade of 38-56% antimony during intermittent mining activity between 1915 and 1977.
A critical material you’ve probably never heard of
The US International Trade Commission has described antimony as “a critical material you’ve probably never heard of.”
Antimony has been listed as a mineral critical to US economic and national security by the US Department of Interior, a distinction also held by rare earth elements (REEs), cobalt, and uranium.
Antimony is a key element in the production of solar panels and wind turbines. Moreover, the mineral is integral to the development and production of liquid metal batteries, which look to be a reliable, safe alternative for battery power storage.
Current drilling program
Felix Gold is currently aiming to delineate a commercial resource at the Treasure Creek project. It has identified a potential opportunity to provide additional ore supply to Kinross Gold’s nearby Fort Knox gold mine.
To help meet that opportunity, Felix is currently focusing on near-surface and oxide resources with the aim of establishing a low capex/opex open-pitable ore supply.
It has now completed reverse circulation drilling programs at NW Array and Scrafford, for a total of 4,695.4m in 50 holes. The campaign included 4,278m in 45 holes of infill drilling at NW Array and target generation drilling of 419m in five holes in the Scrafford extension area.
To date, 28 holes in NW Array have returned positive assay results for gold and antimony. Results from a further 17 holes at NW Array and 5 holes in Scrafford extension area are pending.