Northern Freegold Reviews 2013 Exploration Results Freegold Mountain Project, Yukon
Vancouver, BC: February 27, 2014. Northern Freegold Resources Ltd. (NFR: TSX-V, NFRGF: OTCQX) is pleased to announce that it has received the final report on the results of the 2013 exploration program at the Freegold Mountain Project ("Freegold" or the "Property"). The project is 100% owned by Northern Freegold (the "Company") and is road accessible, located 70 km west of Carmacks in the Dawson gold belt of southwestern Yukon.
The 2013 exploration program was designed to evaluate select areas of the property east of the Nucleus and Revenue deposits which have previously shown significant potential to host high grade epithermal and skarn hosted gold mineralization, but have received only limited exploration in recent years. More specifically the company focused on three key areas of interest which have historically been referred to as follows: Seymour, Discovery, and Goldy-Dart.
The program consisted of historic data compilation, soil geochemical surveys, trenching, bedrock mapping, petrographic analysis and geochemical data analysis. Fieldwork took place between August 10th, 2013 and September 26th, 2013. During this time a total of 1176 soil samples, 207 rock chip samples, 28 rock grab samples, 15 C-horizon soil samples, and 5 stream sediment samples were collected for geochemical analysis.
Highlights of the 2013 Exploration Program:
-New Irene discovery shows potential for high-grade gold mineralization at surface
-Assay values up to7.11 gpt Au over 3.0 metres including 11.35 gpt Au over 1.0 metres
-2013 sampling confirmed gold mineralization over an area measuring 6.5 metres true width by 80 metres along strike
-The zone remains open in all directions
-Close proximity to Stoddart porphyry and Revenue deposit
-Significant gold recovered from placer mining operations located near Irene showing
-Drill target identified
-Expansion of two significant geochemical anomalies at the Discovery and Goldy zones
-No assessment commitments until 2023 once the assessment credit for the 2013 exploration work is applied
The work program was successful in locating a significant new mineral occurrence named the "Irene". Located 1.2 kilometres north of the Stoddart prospect and 4.6 kilometres east of the Revenue Deposit, the Irene occurrence is comprised of structurally controlled epithermal gold mineralization. Bedrock sampling confirmed gold mineralization over an area measuring 6.5 metres true width by 80.0 metres along strike with gold assays from trench TR13-021 returning 7.11 gpt Au over 3.0 metres including 11.35 gpt Au over 1.0 metre. The zone remains open in all directions with bedrock exposure in the immediate area encumbered by extensive gravel cover.
The program was also successful in re-defining and expanding two significant multi-element geochemical anomalies which warrant follow up work. One anomaly is centred on the historic Melissa showing on the western flank of Freegold Mountain whilst the other anomaly is located north of the Goldy showing on the eastern flank of Freegold Mountain.
John Burges, President and CEO said "We are pleased with the results from the exploration program. The focus on higher gold grade potential paid off with the new discovery at Irene. Irene is strategically located along a major structure, close to known porphyries, and appears to have size potential. Such a new discovery highlights the potential for high-grade gold mineralization near surface, in an under-explored area of the Property and warrants follow up work this year. Exploration work at the Discovery and Goldy zones was successful in significantly increasing the size of the known soil geochemical anomalies."
Irene Showing
Upon receiving word from local placer miners that bedrock was exposed at the base of their active workings, field geologists prospected the area and discovered the Irene Showing in August 2013. A total of 34 chip samples and four grab samples were collected from six trenches (see news release 13-12 dated November 6, 2013). The sampling program at the Irene showing returned significant Au results with assay values up to 11.35 gpt Au over 1.0 metres. Refer to the table below for a detailed summary of trench results. All six bedrock trenches returned significant Au results and define a mineralized zone currently measuring 6.5 meters wide by 80.0 meters long. The zone remains open in all directions and represents a high-priority exploration target.
Irene Trench Result Highlights:
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|Trench |UTM |UTM |Mineralized Intervals
|
|Name |E* |N* |
|
|------------------------------------------------------------------------|
|TR13-017|386583|6910441|0.93 gpt Au/6.5 m (including 3.57 gpt Au/1.5
m) |
|------------------------------------------------------------------------|
|TR13-018|386550|6910470|3.47 gpt Au/7.0 m (including 10.90 gpt
Au/1.0 m)|
|------------------------------------------------------------------------|
|TR13-019|386608|6910424|2.24 gpt Au/7.0 m (including 3.05 gpt
|
| | | |Au/3.0 m; also including 4.82 gpt Au/1.0
|
| | | |m)
|
|------------------------------------------------------------------------|
|TR13-020|386598|6910430|0.48 gpt Au/7.0 m (including 1.49 gpt Au/2.0
m) |
|------------------------------------------------------------------------|
|TR13-021|386570|6910461|7.11 gpt Au/3.0 m (including 10.1 gpt
|
| | | |Au/2.0 m; also including 11.3 gpt Au/1.0
|
| | | |m)
|
|------------------------------------------------------------------------|
|TR13-022|386588|6910435|1.65 gpt Au/2.5 m
|
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*NAD 83, Zone 8N
Historic work in the area includes a 353 sample soil survey (50 m stations on lines 100 m apart) within the Guder Creek drainage basin completed by Noranda in 1986 which has identified several areas of coincident >90th percentile Au and As values. Boulders of magnetite carrying native gold were found in the creek during the 1986 program and returned assays up to 170.00 gpt Au. Noranda conducted 242 line metres of mechanized trenching from six trenches during 1987 in the Guder Gulch area. The program was hindered by permafrost which limited bedrock exposure, however an assay of 2.14 gpt Au with 324 ppm As was returned from a bedrock sample in Trench TGC-87-02 located approximately 500 metres northwest of the Irene showing.
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The local geology is characterized by variably altered light grey to white metasedimentary rock, buff white to grey quartz-feldspar porphyry and dark to light grey, medium grained biotite granodiorite. Both the metasedimentary unit and the biotite granodiorite display moderate to intense sericitic (quartz-sericite-pyrite) alteration and intense phyllic (clay) alteration. Intense chalcedonic quartz-pyrite replacement is directly related to brecciation/vein development and mineralization associated with brittle deformation. Clay alteration is pervasive within brittle shear zones and selectively replaces feldspar within the biotite granodiorite. Mineralization is contained within veins, veinlets, breccias and gouge which have preferentially exploited the faulted contact zone between the two rock units. Gold mineralization is intimately associated with arsenopyrite, stibnite and to a lesser degree pyrite and is hosted within a chalcedonic quartz-dolomite +/- calcite gangue. Arsenopyrite and stibnite were observed as very fine-coarse grained euhedral disseminations (<1%) within the breccia matrix and fault gouge, and as semi-massive fracture fill within veins/veinlets.
The Irene showing is located within a prominent northwest trending structural feature which forms the steeply incised Guder Gulch, and is interpreted to be a splay of the Big Creek Fault Zone. Veining and mineralization parallel Guder Gulch and the contact between the two rock units with an average strike of 315? and dip moderately to steeply northeast. Brittle shear zones containing disseminated mineralization and abundant clay gouge also parallel the vein/breccia systems and the fault contact between the two rock units. Post-mineralization brittle fault zones oriented 020 - 030 ? and dipping moderately to steeply to the east-southeast, displaying an unknown amount of left-lateral displacement, offset the mineralized zone. These late brittle faults are readily observed on the property orthophoto as a series of prominent north-northeast and north-northwest trending recessive lineaments, north and south of Guder creek respectively.
Examination of the gold nuggets recovered from Guder Creek by local placer miners indicated three distinct sources:
-
1.native gold occurring with magnetite in nuggets;
-
2.native gold occurring in quartz with nuggets; and
-
3.fine gold associated with bismuth and arsenopyrite-stibnite alloys.
Native bismuth, bismuth alloys, magnetite and scheelite were also recovered from the placer operation. The significant amount of gold recovered by the placer miners from a relatively small sample area, the variety of gold and the presence of favorable pathfinder elements such as bismuth, arsenopyrite and tungsten suggest that the Guder Gulch area was a fertile corridor for gold mineralization. Future exploration in the immediate area should include: compilation and evaluation of all historic data, remodeling of existing geophysical data (Mag, IP and VLF-EM) using petrophysical constraints, geochemical orientation surveys to determine the best method for seeing through extensive till cover, mechanized and conventional auger geochemical sampling, bedrock trenching, and diamond drilling.
Goldy Zone
The objectives of the 2013 program at the Goldy Zone were to conduct orientation surveys over zones of known mineralization and to extend the soil geochemical survey north of the historic grid, completed in 1987. Orientation surveys were completed over zones of interest identified through historic trenching and geochemical soil surveys. Exploratory pits were dug using an excavator to a depth where samples could be collected from the B-Horizon/C-horizon interface. Rock samples were also collected where possible to provide analytical results which characterize the lithogeochemical signature of the mineralization. Comparison of the data indicates that soils overlying zones of mineralization are enriched in gold and the key pathfinder elements arsenic and cadmium. B-horizon soil samples were collected using soil augers.
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The Goldy orientation survey was completed over zones of interest identified through historic trenching and geochemical soil sampling in the area surrounding the Goldy showing. The orientation survey was highly successful in repeating historic results from six different soil samples sites (AHFGD001 - 005 & MMFGD002) with five of six samples returning > 99th percentile gold and all samples returning > 95th percentile gold. All sample locations remain high priority targets for follow up work, with particular interest on samples AHFGD001 which returned 2730 ppb Au/4100 ppm As/3.07 ppm Cd, AHFGD002 which returned 635 ppb Au/6860 ppm As/3.72 ppm Cd and MMFGD002 which returned 218 ppb Au/230 ppm As/1.33 ppm Cd (see news release 14-02 dated January 29, 2014).
The B-horizon geochemical survey located approximately one km north from the Goldy Zone has successfully delineated a 150 metre wide by 400 metre long extension of coincident anomalous gold (90th-99th percentile) - arsenic (90th-99th percentile) - cadmium (90th-95th percentile) in soil north of the existing geochemical grid completed in 1987. The total strike length of the anomalous zone is currently defined 1.3 km north of the Goldy showing.
A 1.0 metre chip sample (AHFGR055, Tr13-010) located 475 metres north-northeast of the Goldy Zone returned an assay value of 2.47 g/t Au. The sample appears to represent a splay of the structure which hosts the main Goldy showing. A grab sample (AHFGR054) of silica altered fault breccia, collected 20 metres west of AHFGR055, returned an assay value of 1.50 g/t Au. This area is considered a high-priority target for future exploration within the Goldy Zone, as it presents the opportunity to significantly expand the current extent of the main showing located 450 metres to the southwest. This interpretation is backed by both historic and 2013 geochemical results (both soil and silt). Future work is recommended in the area to define the full extent of the gold bearing zone and should include a detailed C-horizon or bedrock chip sampling program to establish diamond drill targets.
Discovery Zone
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The Discovery Zone survey successfully delineated a 150-300 metre wide by 900 metre long west-northwest trending zone of coincident anomalous gold (90th-99th percentile) - silver (90th-99th percentile) - arsenic (90th-99th percentile) - bismuth (75th-99th percentile) - lead (90th-99th percentile) - antimony (75th-99th percentile) east of the existing geochemical grid completed in 1986 and west of the geochemical grid completed in 2011. The total strike length of the anomalous gold zone (> 90th percentile) is currently defined up to 1.7 km. The anomaly is interpreted to define a widespread hydrothermal alteration zone within metasedimentary rocks and is spatially associated with quartz-feldspar porphyry dyke swarms and west-northwest trending structural lineaments. The anomaly encompasses the historic Melissa and Lucinda showings. Geochemical results from rock chip samples collected from TR13-002 indicate that both the quartz-feldspar porphyry dykes and metasedimentary rocks have elevated levels of arsenic and weakly anomalous gold (see news release 14-01 dated January 20, 2014). Follow up geochemical surveys are warranted.
QAQC
All samples were submitted to ALS Minerals ("ALS") in Whitehorse for prep. Geochemical analysis was completed at ALS' lab in Vancouver. The following analytical techniques were used for all rock samples: ME-ICP41, Au-AA23 30 g Fire Assay, and Au-GRA21 30 g Fire Assay for all samples > 10 ppm Au. The following analytical techniques were used for all soil and silt samples: ME-MS41, Au-TL44, and Au-OR44 for all samples > 1 ppm Au. The Company's QAQC measures included insertion of external blanks and standards into the sample stream for all rock chip samples. A minimum of one standard and one blank sample was inserted for each trench. In addition, the lab was instructed to wet-sieve each sample prior to sample preparation in order to minimize contamination from placer gravels.
Northern Freegold engaged TerraLogic Exploration Inc. to oversee the 2013 exploration program at Freegold Mountain. Project geologist, Mike McCuaig, B.Sc. P.Geo., designed and managed the 2013 program. TerraLogic has been operating mineral exploration projects in North America since 2004 and has extensive experience in Yukon Territory.
Paul Reynolds, B. Sc. P. Geo., Vice President Exploration for Northern Freegold Resources Ltd., is the Qualified Person, as defined by NI 43-101, for the Freegold Mountain Project and has reviewed the technical information in this release.
About Northern Freegold
Northern Freegold Resources Ltd. (TSX.V: NFR; OTCQX: NFRGF) trades in Canada on the TSX Venture Exchange under the symbol "NFR" and in the United States on the OTCQX under the symbol "NFRGF". Northern Freegold is a growth oriented, Canadian-based, precious metals exploration and development company. Northern Freegold is focused on creating value through the advancement of the district scale Freegold Mountain project, which hosts one of the largest undeveloped gold and copper resources in the Yukon, and the Burro Creek gold and silver property in Arizona. For maps and more information, please visit our website www.northernfreegold.com
On behalf of the Board of Directors
Signed "John Burges"
John Burges, President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements The information in this press release includes certain "forward-looking statements". All statements, other than statements of historical fact, included herein including, without limitation, plans for and intentions with respect to the company's properties, strategic alternatives, quantity of resources or reserves, timing of permitting, construction and production and other milestones, are forward looking statements. Statements concerning Mineral Reserves and Mineral Resources are also forward-looking statements in that they reflect an assessment, based on certain assumptions, of the mineralization that would be encountered and mining results if the project were developed and mined in the manner described. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from NFR's expectations include the uncertainties involving the need for additional financing to explore and develop properties and availability of financing in the debt and capital markets; uncertainties involved in the interpretation of drilling results and geological testing and the estimation of reserves and resources; the need for cooperation of government agencies and First Nations groups in the exploration, and development of properties; and the need to obtain permits and governmental approval. NFR's forward looking statements reflect the beliefs, opinions and projections of management on the date the statements are made. NFR assumes no obligation to update the forward looking statements if management's beliefs, opinions, projections, or other factors should change.
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