{"id":8271,"date":"2024-04-10T04:19:54","date_gmt":"2024-04-10T04:19:54","guid":{"rendered":"https:\/\/economicherald.net\/?p=8271"},"modified":"2024-04-10T04:19:54","modified_gmt":"2024-04-10T04:19:54","slug":"maiden-resource-imminent-after-stellar-metallurgy-results-as-felix-looks-to-tap-into-record-high-gold-market","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=8271","title":{"rendered":"Maiden resource imminent after stellar metallurgy results as Felix looks to tap into record high gold market"},"content":{"rendered":"<p>Impressive recoveries averaged 89% from near surface oxide gold mineralisation, and reached as high as 94.5%<br \/>\nAn initial maiden JORC resource in progress right next to the ore hungry Fort Knox Gold Mine<br \/>\nNW Array part of Treasure Creek project, in the same district as 11.8Moz Fort Knox mine and Freegold Ventures\u2019 19.7Moz Golden Summit project in Alaska<br \/>\nFort Knox is actively seeking additional ore supply<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em> Testwork has yielded impressive recoveries over 90% at Felix Gold\u2019s NW Array prospect ahead of a maiden gold resource, which the explorer says \u201cwill set the platform\u201d to build towards the profile of Kinross Gold\u2019s nearby Gill-Sourdough mine in Alaska.<\/strong><\/p>\n<p>Felix Gold (ASX:FXG) one of the largest claim holders in the Fairbanks Gold Mining District, where historical gold production exceeds 16Moz.<\/p>\n<p>Its leases are literally sandwiched between Kinross\u2019 11.8Moz Fort Knox mine (19km away) and Freegold Ventures\u2019 19.7Moz Golden Summit Project (18km away).<\/p>\n<p>Felix Gold\u2019s focus is on the Treasure Creek project, where maiden drilling in 2022 returned a \u201csubstantial discovery at NW Array [a 2.5km x 2.5km gold-in-soil anomaly] and several other potential major gold systems\u201d.<\/p>\n<p>FXG is now progressing to a maiden Jorc Inferred Resource at NW Array \u2013 an open-at-surface, oxide and flat-lying 2km by 600m gold system \u2013 which could potentially be fast tracked to production due to its proximity to the mill at Fort Knox.<\/p>\n<p>\u00a0<\/p>\n<p>That close. Pic: FXG<\/p>\n<p>\u00a0<\/p>\n<p>Significant thick, shallow and high-grade drilling results from 2023 include:<\/p>\n<p>70.1m at 1.6 g\/t from 6.1m, incl. 7.6m at 6.4 g\/t from 21.3m<br \/>\n100.5m at 1.14 g\/t from 21.3m, incl. 47m at 1.7 g\/t from 38.1m; and,<br \/>\n54.9m at 1.80 g\/t Au from 1.5m incl 30.5m at 3.02 g\/t Au from 7.6m.<\/p>\n<p>FXG\u2019s tenure also includes the Grant mine, a high-grade brownfields resource expansion opportunity.<\/p>\n<p>There\u2019s been no better time to explore for gold, with prices recently lifting above US$2300\/oz for the first time in history \u2013 over $3500\/oz in Aussie dollar terms.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>\u2018Impressive\u2019 gold recoveries, maiden resource pending<\/strong><\/h2>\n<p>FXG says 24-hour bottle roll leach test work has yielded impressive gold recoveries of up to 94.5% for oxidised samples taken from coarse rejects from drilling at NW Array.<\/p>\n<p>Samples of oxidised material within 50m from surface reported average gold recoveries of 90%.<\/p>\n<p>Bottle roll leach test work provides info on expected gold recovery rates, and the amount of money a mining company will need to spend on reagents (chemicals used to extract gold from ore).<\/p>\n<p>30 samples selected for testing also confirms the gold is free milling and recoverable using cyanide. That\u2019s a good thing.<\/p>\n<p>FXG says these results are consistent with those of mines running within the area around Kinross\u2019 Fort Knox.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>A Gill-Sourdough lookalike?<\/strong><\/h2>\n<p>FXG exec director Joe Webb says the focus now sharpens on finalising the maiden resource for the NW Array prospect in Q2 2024 and advancing the growth of the previously operating Grant mine.<\/p>\n<p>Grant has an existing high-grade resource of 364,000oz, including 136,000oz at an ore grade of 6.2g\/t gold.<\/p>\n<p>\u201cWe\u2019re laying the groundwork for continuous resource expansion and economic studies in a gold-rich locale, bolstered by existing infrastructure and the proximity of Kinross Gold Corporation\u2019s Fort Knox gold mine, which actively seeks additional ore supply,\u201d he says.<\/p>\n<p>\u201cWe envision the pending maiden resource at NW Array Prospect to set the platform to build towards the profile of Kinross Gold\u2019s Gill-Sourdough Mine, which boasted a Ni-43-101 measured and indicated resource of 533Koz at 0.55 g\/t au, that has been a vital ore source for Fort Knox Gold Mine for the past 2 years.<\/p>\n<p>\u201cThis complements our Grant mine, representing a lucrative brownfields resource expansion opportunity, along with our extensive district-scale land package, all aligned with our sustained objectives of identifying, growing and commercialising economic ore deposits.\u201d<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Felix Gold, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/maiden-resource-imminent-after-stellar-metallurgy-as-felix-looks-to-tap-into-record-high-gold-market\/\">Maiden resource imminent after stellar metallurgy results as Felix looks to tap into record high gold market<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Impressive recoveries averaged 89% from near surface oxide gold mineralisation, and reached as high as 94.5% An initial maiden JORC resource in progress right next <a href=\"https:\/\/economicherald.net\/?p=8271\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":8272,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8271","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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