Felix Gold has boosted its landholding in the Fairbanks gold mining district, home to 8Moz Fort Knox mine
Acquisition of new claims expands potential for NW Array gold trend, where a maiden resource is pending
Executive Director Joe Webb will hold an online investor briefing on May 17
Special Report: Felix Gold will acquire new mining claims that promise to enhance the scale potential of its NW Array prospect – a flat-lying, surface oxide gold system – in Alaska
Wedged between Alaska’s biggest ever gold miner Kinross Gold’s 11.8Moz Fort Knox mine (19km away) and Freegold Ventures’ 19.7Moz Golden Summit (18km away), the prospect is part of the company’s broader Treasure Creek project, which contains several – potentially major – gold systems.
Right now, Felix Gold (ASX:FXG) is focused on the NW Array prospect where it is about to release a maiden resource based off an identified open-at-surface 2km by 600m oxide gold system.
The newly secured claims announced today are contiguous with NW Array, and there’s evidence the gold trend runs straight into this new ground, says FXG.
Trenching by BHP-Utah in the 1980s returned 121.92m at 0.78g/t gold, ~200m along strike from high-grade mineralisation intersected in 2023 drilling by FXG.
Subsequent shallow air-track drilling by Silverado also returned promising hits, like 12.19m at 1.67g/t, from surface.
Caption: Historical gold results provide compelling evidence for continuation of NW Array mineralisation into new mining claims.
JORC resource imminent
FXG is poised to reveal a maiden JORC resource for NW Array in the coming month. The prospect has an exploration target of between 1.1Moz to 3.6Moz of contained gold.
This resource, combined with the existing 364,000oz Grant mine, could be just the start of FXG’s tier 1 ambitions.
NW Array and Grant offer clear pathways for systematic resource expansion and development in a district that hosts Kinross Gold Corporation’s Fort Knox, which is actively seeking additional ore supply.
“We are pleased to announce the strategic addition of new mining claims, which significantly enhances the scale potential of the NW Array gold system,” executive director Joseph Webb says.
“The compelling evidence of gold mineralisation continuation, coupled with the pending maiden JORC resource announcement, reinforces our confidence in the value and potential of this expanding gold system.
“This addition aligns with our commitment to unlocking the full potential of this district and solidifies our position as a leading explorer in this highly prospective region.”
Felix Gold will host an online investor briefing on May 17, offering stakeholders an opportunity to learn more about this exciting development and the company’s future plans.
This article was developed in collaboration with Felix Gold, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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