Fire River Gold Announces 26 g/t (0.76 opt) Gold Over 2.9 m (9.5 ft) at the Nixon Fork Gold Mine, Alaska - 26 g/t (0.76 opt) gold over 2.9 m (9.5 ft) in hole N07U083-- Including 64 g/t (1.87 opt) over 1.0 m (3.3 ft) - 2007 - 2008 underground re-evalu
- 26 g/t (0.76 opt) gold over 2.9 m (9.5 ft) in hole N07U083
-- Including 64 g/t (1.87 opt) over 1.0 m (3.3 ft)
- 2007 - 2008 underground re-evaluation program complete
- Results pending for 7 additional 2007 surface holes (Whalen Zone)
- 2010/11 2800 metre surface/underground drill program has commenced
- P.E.A. evaluating the CIL circuit to reprocess the historic tailings pond due Sept 2010
- Resource update Fall 2010
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/14/10 -- Fire River Gold Corp. (TSX VENTURE: FAU)(OTCQX: FVGCF)(FRANKFURT: FWR) ('FAU' or the 'Company') continues to announce high grade assay results from its on going re- evaluation program at the Nixon Fork Gold Mine situated in Alaska's Tintina Gold Belt. The Company has received assay results and completed careful review of holes 77 through 89 completed in 2007 (N07U077 to N07U089).
New significant intercepts include N07U0083 returning grades of 26 g/t (0.76 opt) gold over 2.9 m (9.5 ft), including 64 g/t (1.87 opt) over 1.0 m (3.3 ft) and intercept N07U084 returning grades of 32 g/t (0.93 opt) gold over 2.6 m (8.5 ft) as part of the geological re-evaluation program for the Nixon Fork Gold Mine in Alaska. A complete list of significant intercepts is provided in Table 1.
Table 1: Results from holes N07U077 to N07U089
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Hole From To Length Length Au Au
Number (metres) (metres) (feet) (metres) (opt) (gpt) Location
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N07U077, 078, 079, 080 NSI 3300 Zone
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N07U081 3.9 4.9 3.3 1.0 0.17 6 3300 Zone
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N07U082 9.6 10.3 2.3 0.7 0.38 13 3300 Zone
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N07U083 1.6 4.5 9.5 2.9 0.76 26 3300 Zone
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Including 2.6 3.6 3.3 1.0 1.87 64 3300 Zone
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N07U084 2.2 4.8 8.5 2.6 0.93 32 3300 Zone
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N07U085 1.0 2.0 3.3 1.0 0.33 11 3300 Zone
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N07U085 7.0 8.0 3.3 1.0 0.49 17 3300 Zone
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N07U086 2.8 5.0 7.2 2.2 0.20 7 3300 Zone
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N07U086 8.0 9.0 3.3 1.0 0.20 7 3300 Zone
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N07U086 30.5 33.7 10.5 3.2 0.24 8 3300 Zone
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N07U087 NSI 3300 Zone
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N07U088 NSI 3300 Zone
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N07U089 NSI 3300 Zone
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During 2007 and 2008, the previous operator completed 9400 metres from mostly underground drill stations in 110 holes. The results for these holes were not reported by that operator and have never been included in a resource assessment of the mine. The geologic evaluation (re-logging) of the 9400 metres is complete.
Re-logging and sampling of the 2007 and 2008 drill core has been completed. Geologic work has now been focusing on selected zones from the pre-2007 core library, particularly in areas of favourable targets and mineralization. Work has also begun on a new resource estimate scheduled for completion by fall of 2010.
Table 2 illustrates the most recent significant intercepts for drill holes re-logged and sampled during this program. These drill holes were completed in the Crystal decline around the 3300 zone near the 220 ft level. Most of the drill program completed in 2007 was designed to test projections of known mineralized zones, such as the 3300 zone with modest step-outs down and up dip as well as along strike. Step-outs ranged from 7.5 metres to more than 40 metres from known zones.
Table 2: Best Results Released To Date
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Thickness Gram -
Hole # Grade (g/t) (m) meters
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N07U061 498 3.0 1,494
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N07U049 110 6.7 737
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N07U048 128 5.1 653
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N07U053 27.0 24.0 648
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N08U011 140 4.6 644
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N08U023 122 4.4 537
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N07U059 67 6.3 422
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N07U050 78 4.8 374
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N07U065 144 2.5 360
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N07U063 108 3.0 324
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Table 3. A comparison of the Original 2007 assays with the check assays from
2010
(field duplicates)
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CHECK ASSAYS
ORIGINAL ASSAYS -------------------------------
Field Duplicates
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Hole From To Length Au From To Length Au
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(met- (met- (met- (met- (met- (met-
Number res) res) res) (gpt) res) res) res) (gpt)
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N07U077 NSI Intervals not reassayed
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N07U078 NSI Intervals not reassayed
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N07U079 NSI Intervals not reassayed
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N07U080 NSI Intervals not reassayed
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N07U081 3.9 4.9 1 6 4.0 4.4 0.4 47
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N07U082 9.6 10.3 0.7 13 9.6 10.3 0.7 12
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N07U083 1.6 4.5 2.9 26 1.5 4.5 3.0 29
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Including 2.6 3.6 1.0 64 2.5 3.6 1.1 71
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N07U084 2.2 4.8 2.6 32 2.3 4.8 2.5 24
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N07U085 Intervals not reassayed
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N07U086 2.8 5.0 2.2 7 2.8 5 2.2 2
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N07U086 8.0 9.0 1.2 7 8.0 9.0 2 10
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N07U086 30.5 33.7 3.2 8 30.5 33.6 3.1 2
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N07U087 NSI Intervals not reassayed
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N07U088 NSI Intervals not reassayed
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N07U089 NSI Intervals not reassayed
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Objectives: 2010/11 Drill Program
As previously announced on July 27th, 2010, and September 7th 2010, a diamond drill program of up to 28,000 metres has commenced at its Nixon Fork Gold Mine. The surface program will test to expand six known zones of mineralization which have the potential to provide additional resources to the mill. The underground portion of the drill program will focus on expanding resources, particularly in the 3300, 3500, 3100 Zone, as well as other prospective zones.
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.
The project is being managed by Richard Goodwin, P.Eng, V.P. Mining for Fire River Gold and is the Qualified Person for this news release.
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 within the next 12 months. The Nixon Fork Gold Mine is a permitted and bonded mine with past production values averaging 1.14 opt (39 gpt). Facilities at the Nixon Fork Gold Mine include a 200 tpd flotation plant with a gravity gold separation circuit and a sulphide flotation 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. Fire River Gold Corp is a member of the International Metals Group.
On behalf of the Board of Directors, I look forward to keeping you updated with our corporate developments.
Harry Barr, President and 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.
To view maps and photos associated with this release, please click here: http://www.firerivergold.com/s/NewsReleases.asp?ReportID=418844
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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