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Gold and antimony explorer Felix Gold Ltd (ASX:FXG) has reported strong soil anomaly results following an auger sampling program at its NE Fairbanks Project in Alaska.
The program – which involved systematic sampling across the 146 square kilometre project area – saw completion of 159 auger holes, yielding peak gold values of 568 parts per billion (ppb), or 0.57 grams per tonne of gold.
NE Fairbanks is adjacent to Kinross Gold’s 11.27 million-ounce Fort Knox Mine, and the program’s results also underscored the value of this proximity, with values up to 353 ppb (or 0.35 g/t Au) being identified close to recent Kinross drilling areas.
Felix has compiled a list of zones due for follow up work, keeping in mind that the project area also includes 7 documented prospects, including Independence – which has historic assays of up to 1.84 ounces per tonne of gold.
Executive director Joe Webb said exploring in strong gold territory had been a boon for Felix.
“These results underscore the strategic importance of our NE Fairbanks Project, positioned adjacent to two major assets: Kinross Gold’s Fort Knox Mine (Tier 1, 11.27Moz) and Freegold Ventures’ Golden Summit Project (22.4Moz),” he said.
“The peak gold assays from our soil sampling program, including values of up to 568 ppb
(0.57 g/t Au), are significant, given that 50-100 ppb soil anomalies are considered material in this region.
“The proximity to Kinross Gold’s Fort Knox Gold Mine, where Kinross is actively exploring near our boundaries for more ore supply, adds to the significance of our project area which already has a rich mining history with historic assays of up to 1.84 oz/ton gold.”
At 16:11 AEDT, Felix was trading at 7.1 cents – a fall of 7.79% since the market opened.
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