Northern Freegold Resources Ltd. Irene Trench Results Return 9.45 g/t Au, 114.5 g/t Ag, 0.79% Cu over 1.00 metre in TR14-037
VANCOUVER, BC: / TNW-ACCESSWIRE / November 17, 2014 / Northern Freegold Resources Ltd. (TSX-V: NFR) (NFR or, the "Company") is pleased to announce that the 2014 exploration program at the Freegold Mountain Project ("Freegold") is complete. The Freegold project is 100% owned by Northern Freegold Resources Ltd., (the "Company"), and is road accessible, located 70 km west of Carmacks, Yukon in the Dawson Range.
The 2014 exploration program was designed to build on the 2013 discovery of the Irene showing and consisted of trench mapping and sampling, prospecting and a total of 29.0 line km of ground magnetic and electromagnetic surveys. The 2014 exploration program was successful in expanding the "Irene" mineral occurrence. Located 1.2 km north of the Stoddart prospect and 4.6 km east of the Revenue Deposit, the Irene occurrence is comprised of multiple phases of structurally controlled epithermal gold mineralization.
A total of 45 chip/channel samples and 5 grab samples were collected during the 2014 program.
Bedrock sampling extended the mineralized structure 50.00 metres along strike with gold assays from trench TR14-037 returning 9.45 g/t Au, 114.5 g/t Ag, 0.79% Cu over 1.00 metre including 19.9 g/t Au, 145.0 g/t Ag, 0.68 % Cu over 0.35 metres. A complete summary of the 2014 trench results is tabulated below. The zone is currently defined along strike for 130.00 meters and remains open in all directions with bedrock exposure in the immediate area encumbered by extensive gravel cover. The continued discovery at the Irene highlights the potential for high-grade gold+/-silver+/-copper mineralization at surface, in an under-explored area of the property.
2014 Significant Trench Results
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|Trench |Mineralized Intervals
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|TR14-027|0.98 g/t Au over 4.50 m( including 2.69 g/t Au over 1.00 m)
|
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|TR14-028|0.50 g/t Au over 1.00 m
|
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|TR14-031|1.53 g/t Au over 5.00 m (including 2.08 g/t Au over 2.00 m)
|
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|TR14-032|0.38 g/t Au, 4.1 g/t Ag over 0.50 m
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|TR14-035|0.37 g/t Au, 1.41 g/t Ag over 1.00 m
|
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|TR14-036|5.19 g/t Au, 66.8 g/t Ag, 0.29% Cu over 1.00 m(including
9.03 g/t Au, 50.3 g/t Ag, 0.24% Cu over 0.50 m)|
|-----------------------------------------------------------------------------------------------------------------|
|TR14-037|9.45 g/t Au, 114.5 g/t Ag, 0.79% Cu over 1.00 m
|
| |(including 19.90 g/t Au, 145.0 g/t Ag, 0.68% Cu over
|
| |0.35 m)
|
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*True thickness of the zone has not been determined to date
The Freegold Mountain project is located within the Dawson Range and covers a fertile and very prospective portion of the Big Creek fault Zone. The project is endowed with two NI 43-101 mineral deposits, the Nucleus Au-Ag-Cu deposit and the Revenue Cu-Au-Mo-Ag deposit, as well as numerous gold showings which represent porphyry-hydrothermal systems related to Mid and Late Cretaceous magmatic events. It is believed that the Nucleus Deposit and the Revenue Deposit along with the Stoddart prospect are all part of a large gold-rich hydrothermal system, which extends in a northwesterly direction for more than six kilometres. The project has significant infrastructure advantages. It is located approximately 200 kilometres northwest of Yukon's capital and industrial center in Whitehorse. It is road accessible from Whitehorse, along the main Klondike Highway, a paved all-weather highway running from Whitehorse to Dawson City thence along a 70 kilometre government maintained road from Carmacks.
The 2014 exploration program was designed and managed by Mike McCuaig, P. Geo., of TerraLogic Exploration Inc., of Cranbrook, BC.
All samples were submitted to ALS Minerals in Whitehorse for prep, and geochemical analysis was completed at their lab in Vancouver. The following analytical techniques were used for all samples: ME-MS41, Au-AA23 30 g Fire Assay and Au-GRA21 30 g Fire Assay for all samples > 10 ppm Au, ME-XRF10 for all samples > 10,000 ppm Sb, ME-OG46 for all samples > 100 ppm Ag and > 10,000 As, > 10,000 Pb. The Company's QAQC measures included insertion of external blanks and standards into the sample stream for all rock chip & channel 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.
Paul Reynolds, B. Sc., P. Geo., President of 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 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 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 "Paul Reynolds"
Paul Reynolds, President
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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