|Fire River Gold Announces High Grade Gold Results, Nixon Fork Gold Mine, Alaska|
FAU news April 20 2010
- Significant Previously Undisclosed Results:
- 0.79 opt (27.12 g/t) Gold over 30.2 ft (9.2 m) in hole N07U024
- 0.76 opt (26.18 g/t) Gold over 10.8 ft (3.3 m) in hole N07U022
- Results pending for 84 additional underground holes
- Results pending for 7 additional surface holes
- Geological re-assessment work 50% complete; resource update Fall
April 20, 2010. Vancouver, Canada - Fire River Gold Corp. (TSX-V: FAU,
OTCQX: FVGCF, FSE: FWR) ("FAU" or the "Company") is pleased to announce
further additional high grade results of 0.79 opt (27.12 g/t) over 30.2
ft (9.2 metres) for the ongoing re-evaluation program from its 100%
owned 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. This release
is the first reporting of relogging and sampling of drill holes
completed in 2007. Eighty Four (84) additional drillholes completed
underground from 2007 have assays pending or are pending QAQC evaluation
and will be the subject of future releases. In addition, seven (7)
surface holes are in the process of relogging and sampling.
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. Original check assays from the 2007
drill program were not documented, however it is clear that certified
standards were used. In 2008, approximately 50% of the certified
standards failed, however most of those standards failed on the low
side. The re-sampling by FAU geologists is a check of the original assay
FAU's re-sampling program of drill core from the 2007 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
Sampling of core‐duplicates as compared to FAU's pulp‐duplicates can
produce a high degree of variability in the results due to the ʺnugget
effectʺ of gold mineralization that occurs at Nixon Fork. This nugget
effect was clearly evident in the bonanza grades reported for the 2008
drilling. 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
The differences in lengths of the intervals may account for some of the
variability in gold grades. In general, the assays are in conformity,
especially for a comparison of field duplicate samples in a high-grade,
coarse gold system.
Table 1 illustrates the significant intercepts for drill holes relogged
and sampled during this program. All drill holes were completed in the
Crystal decline around the 3300 zone around the 220 level.
Table 2 illustrates a comparison of the 2010 reassay field duplicate
samples. In general, the results match up very well.
Table 1: List of 5 Drillholes Completed in 2007
Table 2: A Comparison of the Original to Check Assays for the 2007
Relogging and sampling of the historic core is of critical importance to
understanding the controls of gold mineralization as well as gaining
confidence in the high grades. The differences in grades shown are
typical of high grade, gold deposits with a significant nugget
For additional details, please refer to FAU's March 23rd and March 31st
press releases, reporting the results from the first 33 holes of this
program for 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 drilling program.
The Nixon Fork project produced significant bi-product copper and
silver. Up to 2007, with the mines closure, copper production was
1,273,066 lbs and silver production was 19,566 ounces from 106,137
tonnes mined. Historic recovered grades are about 0.6% for copper and
0.18 opt for silver.
The project is being managed by Richard Goodwin, P.Eng, VP 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 junior exploration/development company
focused on 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
management, public company administrators and regulatory and government
affairs specialists. Fire River's flagship property is the Nixon Fork
Gold Mine, located within Alaska's Tintina Gold Belt, host to numerous
world class deposits. Fire River Gold is a member of the International
Metals Group (www.internationalmetalsgroup.com).
On behalf of Board of Directors,
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.
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.
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.
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