|Fire River Gold Corp. Announces Additional High Grade Gold Results From Nixon Fork Gold Mine, Alaska|
FAU news March 31 2010
- Geological re-assessment work 35% complete; resource update Fall
- Significant Previously Undisclosed Results:
- 3.5 opt (122 g/t) Au over 14 ft (4.4 m) in hole N08U023
- 1.6 opt (54 g/t) Au over 3.3 ft (1.0 m) in hole N08U025
- 1.8 opt (60 g/t) Au over 1.3 ft (0.4 m) in hole N08U026
- 1.7 opt (57 g/t) Au over 3.6 ft (1.7 m) in hole N08U032
- A section of hole N08U024 that yielded insignificant results in
the original assaying produced a re-assay value of 4.0 opt (138 g/t) over 0.9
- Results pending for 79 additional holes
March 31, 2010. Vancouver, Canada - Fire River Gold Corp. (TSX-V: FAU,
OTCQX: FVGCF, FSE: FWR) ("FAU" or the "Company") is pleased to
announce bonanza gold results (3.5 opt (121.6 g/t) over 4.4m) from its
ongoing geological re-evaluation program for the Nixon Fork Gold Mine
Project in Alaska. In the years 2007 to 2008, the former operator
drilled 9400 metres in 110 holes, the results of which have never been
previously disclosed to the public. All holes were drilled after the
last mining campaign and are thus available for inclusion into an
updated resource estimate, scheduled for release in the Fall of 2010.
This news release covers 11 holes drilled in 2008, as shown in Table 1.
Results for the remaining 79 holes will be released over the next few
months as re-logging work is performed and intercept grades are verified
through re-assaying select intervals.
Table 1: List of 7 Additional 2008
and their Respective Significant Intercepts
No significant intercepts were reported in holes N08U020, 022, 029, and
033. Re-sampled 2010 Check Assays are pending for Holes N08U028, 030,
and 031, which will be included in a future news release for this
Because the 2007 and 2008 results were not formerly reported, a careful
review of all quality control and quality assurance procedures used by
the former operator was initiated.
Fire River Gold's re-sampling program of drill core from the 2008
drilling at Nixon Fork is essentially a modified field duplicate
exercise. The remaining half-cores were fully analyzed except in rare
cases where quarter-cores were used. Sampling of core-duplicates as
compared to pulp-duplicates can produce a high degree of variability in
the results due to the "nugget effect" of gold mineralization that
occurs at Nixon Fork. The comparison of original to check assays for
these holes is shown in Table 2.
Every effort has been made to replicate the previous sample intervals
unless a previous sample crossed a lithological or mineralized boundary.
In these cases the new 2010 samples were terminated at such boundaries.
The differences in lengths of the intervals may account for some of the
variability in gold grades. In general, the assays are in close
especially for a comparison of field duplicate samples in a high-grade,
coarse gold system.
Table 2: A Comparison of the Original
to Check Assays for the 2008 Drilling.
Surprisingly, a 0.9 m section of hole N08U024 (from 16.8 m to 17.7 m)
yielded insignificant results in the 2008 program, but yielded 138 g/t
when assayed as part of this program.
Please refer to FAU's March 23rd news release, reporting the results
from the first 19 holes of this program, for additional details on the
project and the geological re-assessment program, including historic
site production, a description of the deposits, additional information
on the QA/QC measures, and a description of our planned 2010 exploration
The project is being managed by Richard Goodwin, P.Eng., VP Mining for
Fire River Gold and the Qualified Person for this news release.
About Fire River Gold Corp.
Fire River Gold Corp. is a junior exploration/development company
focused on developing advanced stage gold projects in North America. The
Company's team of professionals includes dedicated senior management,
geologists, engineers, corporate finance, investor relations experts,
corporate managers, public company administrators and regulatory and
government affairs specialists. Fire River Gold is publicly traded in
Canada on the TSX Venture Exchange (FAU), in Germany on the Frankfurt
Exchange (FWR) and on the United States' OTCQX market tier (FVGCF). Fire
River Gold is a member of the
On behalf of Fire River Gold Corp.
President & CEO
Disclaimer: This news release may contain certain "forward-looking statements". All statements, other than statements of historical fact, included herein are forward-looking statements that 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 the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and available at www.sedar.com or filed with the Canadian National Stock Exchange. Any forward-looking statements are not guarantees of the Company's future performance and are subject to risks and uncertainties that could cause actual results, developments, and business decisions to differ materially from those contemplated by any forward-looking statements. Except as required by law, the Company undertakes no obligation to update any forward-looking statements.
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The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not Pink OTC Markets Inc. are solely responsible for the accuracy of such news releases.
You can view the Next News Releases item: Tue Apr 6, 2010, Fire River Gold Corp. Tailings Sampling / Drill Program Averages 7.6 g/t Gold at Nixon Fork Gold Mine, Alaska
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