Fire River Gold Commences Underground Drill Program at the Nixon Fork Gold Mine, Alaska
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/07/10 -- Fire River Gold Corp. (TSX VENTURE: FAU)(OTCQX: FVGCF)(FRANKFURT: FWR) ('FAU' or the 'Company') is pleased to provide this update on its 28,000 metre diamond drill program at its Nixon Fork Gold Mine. The Company has been using a contract drill rig on surface through the month of August to define two zones of mineralization located approximately 2 km south of the Crystal Mine, called the North Star and Whalen deposits, which have the potential to provide additional resources to the mill. This drill will be adapted to underground drilling and moved into the Crystal mine on the completion of the surface program, tentatively planned for late November.
The Company chose to augment and provide an early start to the underground portion of the program by staffing a company-owned drill, a Hagby Onram 1000/3 that was purchased and used by the prior operator in the 2007/2008 drill program.
The early performance of the drill crews has prompted the Company to seek out and purchase a second unit and expand the mining department to accommodate four shifts of drilling per day. At present, the mine has a staff of nine mine workers, which will be expanded to accommodate this program.
All underground drilling will be from existing development and is designed to expand resources, particularly in the area of the 3300 zone, as well as test three to four prospective zones.
'This is a small but significant step for the Company, and several more will have to be taken before this mine is put back into production. However, it clearly demonstrates our commitment to manage our own mine and the confidence I have that we can.' Richard Goodwin, VP Mining.
About Fire River Gold Corp.
Fire River Gold Corp. is a near-term production company with an experienced technical team focused on bringing its flagship project, the Nixon Fork Gold Mine, back into production by Spring/Summer 2011. The Nixon Fork Gold Mine is a permitted and bonded 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. In July 2010 FAU announced a diamond drill program of up to 28,000 metres initially focusing on surface targets, particularly of known mineralized zones which have the potential to provide additional resources to the mill. The underground drill program is designed to expand resources, particularly in the area of the 3300 zone, as well as test three to four prospective zones. 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
Harry Barr, President & C.E.O.
Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be reached nor that the proposed operations will be economically viable. We seek safe harbour.
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Contacts:
Fire River Gold Corp.
Harry Barr
President and C.E.O.
+1 604 685 1870
+1 604 685 8045 (FAX)
info@firerivergold.com
www.firerivergold.com