Fire River Gold Announces 144 g/t (4.2 opt) Gold over 2.5 m (8.2 ft) Nixon Fork, Alaska
July 6, 2010, Vancouver, Canada
Toll Free 1.800.667.1870
- 144 g/t (4.2 opt) gold over 2.5 m ( 8.2 ft) in hole N07U065
- including 508 g/t gold over 0.7 m (2.3 ft)
- 108 g/t (3.15 opt) gold over 3.0 metres (9.8 ft) in hole N07U063
- Results pending for 22 additional underground holes and 7 additional surface holes
- 2010 drill campaign scheduled to begin early July
- Resource update Fall 2010
Table 1: List of Previously Unannounced Drill holes completed in 2007.
June 30, 2010: Fire River Gold Generates Over $1 Million Revenue From Ball Mill Clean Up At Nixon Fork Gold Mine, Alaska
June 21, 2010: Fire River Gold Announces 498 g/t (14.52 opt) Gold over 3.0 m (9.8 ft) Nixon Fork, Alaska
June 18, 2010: Fire River Gold Announces 67 g/t (1.95 opt) Gold over 6.3 m (20.7 ft), Nixon Fork, Alaska
June 16, 2010: Fire River Gold Announces High Grade Gold Results, Nixon Fork Gold Mine, Alaska: 27 g/t (0.79 opt) Gold Over 24.0 m (78.7 ft)
June 14, 2010: Fire River Gold Announces Update on Tailings Preliminary Economic Assessment, Nixon Fork Gold Mine, Alaska
June 9, 2010: Fire River Gold Corp. Announces 12,000 Metre Drilling Program
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During 2007 and 2008, the previous operator completed 9400 metres from mostly underground drill stations in 110 holes. The results for these holes were not reported by that operator and have never been included in a resource assessment of the mine. The geologic evaluation (re-logging) of the 9400 metres is complete.
Because the 2007 and 2008 results were not formerly reported, a careful review was initiated by FAU 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 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 "nugget effect" of gold mineralization that occurs at Nixon Fork. This nugget effect was clearly evident in the bonanza grades reported for the 2008 drilling.
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.
Re-logging 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 website at www.firerivergold.com in the section titled "news" which includes the results from the first group of drill holes;
Additional information about the geological re-assessment program; information about 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.
Figure 1. is a cross section through the 3300 gold zone in the Crystal decline. This zone as well as extensions of potential new zones to the south, was the focus of much of the underground drilling for 2007. The 3300 zone is pipe-like in shape and varies in diameter from a minimum of three metres to as much as 40 metres.
Underground drilling is typically completed in 'fan-like' arrays as shown in Figure 2. These fans define the limits of the high grade zones in the 3300. Most of the drilling in 2007 was completed between the 280 and 200 levels of the Crystal decline.
Relogging and sampling of the 2007 and 2008 drill core has been completed. Geologic work will now focus on selected zones from the pre-2007 core library, particularly in areas of favourable targets and mineralization. Work will also begin on a new resource estimate scheduled for completion by Fall of 2010.
Other near term tasks that have begun are underground mapping and sampling with particular emphasis on fault and facture zones. Also, core drilling will commence in July, with the initial focus on high quality near-surface targets.
Table 2. A comparison of the Original 2007 assays with the check assays
from 2010 (field duplicates).
The Nixon Fork Gold Mine 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 its 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). Facilities at the Nixon Fork Gold Mine include a 200 tpd floatation plant with a gravity gold separation circuit and a sulphide floatation circuit. In 2008, a CIL gold leaching circuit was purchased and approximately 60% installed. The mine also includes a fleet of mining vehicles, a self-contained power plant, maintenance facilities, drilling equipment, an 85 person camp, office facilities and a 1.5 km long landing strip. 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, I look forward to keeping you updated with our corporate developments.
President and C.E.O