- Newly-listed gold explorer Felix Gold (FXG) has outlined plans for a reverse circulation drilling program at the Fairbanks gold district in Alaska, US
- Felix began trading its shares on the ASX on January 31 after raising $10 million through an IPO
- The 5000-8000 metre drilling program will commence at the Treasure Creek project in March to test large-scale targets underwritten by gold-in-soil anomalies
- Following this, Felix will drill test other project areas within the Fairbanks gold district
- Felix shares were trading 5.56 per cent in the red at 17 cents at the end of the trading day
Soon after listing on the ASX, Felix Gold (FXG) has laid out plans for a drilling program at the Fairbanks gold district of Alaska, US.
Felix is the second largest landholder, with a tenure of 392 square kilometres, and is a dominant explorer in the Fairbanks district.
The gold explorer commenced trading on the ASX on January 31 after raising $10 million through an initial public offering (IPO). A total of 40 million shares were issued at 25 cents per share.
“We are excited that Felix has now commenced its listed journey. Our value proposition is simple – high prospectivity tenure in the world-class Fairbanks District of the Tintina Gold Province, strong cash backing post IPO and aggressive forthcoming drilling plans,” Managing Director and CEO Dr Kylie Prendergast said.
Felix Gold engaged Alaska Midnight Sun Drilling to conduct a reverse circulation (RC) drilling program which will kick off in March at the Treasure Creek project.
Between 5000 and 8000 metres of drilling will be undertaken to test large-scale targets underwritten by extensive gold-in-soil anomalies.
Once drilling has wrapped up at Treasure Creek, the drill rig will move to the NE Fairbanks, Liberty Bell and Grant-Ester projects to test defined targets.
This work aligns with Felix’s broader exploration strategy for 2022 which includes roughly 10,000 to 15,000 metres of proposed drilling to target multiple areas across all four of the project areas within the Fairbanks gold district.
Felix shares were trading 5.56 per cent in the red at 17 cents at the end of the trading day.