- 0.68 opt (23.2 g/t) gold over 40.3 ft (12.3 m) in hole N07U046
- including 2.21 opt (75.8 g/t) gold over 9.51 ft (2.9 m)
- Results pending for 40 additional underground holes and 7 additional surface holes
- Geological re-assessment work complete for 2007 and 2008 drill holes
- Underground mapping and sampling to begin
- Selective re-logging of pre-2007 drill holes
- 2010 drill campaign scheduled to begin late June
- Resource update Fall 2010
June 3, 2010. Vancouver, Canada - Fire River Gold Corp. (TSX-V: FAU; OTCQX: FVGCF; FSE: FWR)
("FAU" or the "Company") continues to announce high grade assay results from the ongoing re-evaluation program from its 100% owned Nixon Fork Gold Mine Project in Alaska. The Company has received assay results and completed careful review of the first 46 holes completed in 2007 (N07U001 to N07046).
New significant intercepts include N07U046 returning grades of 0.68 opt (23.2 g/t) gold over 40.3 ft (12.3 m) including 2.21 opt (75.8 g/t) gold over 9.51 ft (2.9 m)
as part of the ongoing geological re-evaluation program for the Nixon Fork Gold Mine Project in Alaska. A complete list of significant intercepts is provided in Table 2 for these 46 drill holes; it includes results of previously reported drill holes.
Table 1: List of Top Previously Unannounced Drill holes completed in
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.
Table 2. List of Gold intercepts for Drill Holes N07U001 to
Figure 1 is a cross section through the 3300 gold zone in the Crystal decline. This zone as well as extensions of potential new zones to the south was the focus of much of the underground drilling for 2007. The 3300 zone is a pipe-like in shape and varies in diameter from a minimum of 3 metres to as much as 40 metres.
Underground drilling is typically completed in 'fan-like' arrays of drill holes show in Figure 2. These fans define the limits of the high grade zones in the 3300. Most of the drilling in 2007 was completed between the 280 and 200 levels of the Crystal decline.
Relogging and sampling of the 2007 and 2008 drill core has been completed. Geologic work will now focus on selected zones from the pre-2007 core library, particularly in areas of favorable targets and mineralization. Work will also begin on a new resource estimate scheduled for completion by Fall of 2010.
Other near term tasks to begin in June will be underground mapping and sampling with particular emphasis on fault and fracture zones. Also, core drilling will commence in the later part of June with the initial focus on high quality near-surface targets.
Figure 2. Typical underground fan drill station in the Crystal decline showing mineralized zones.
Table 3. A comparison of the Original 2007 assays with the check
assays from 2010 (field duplicates).
The Nixon Fork Gold Mine produced significant bi-product copper and silver. Until the closure of the mine in 2007, reported copper production was 1.27 million 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 near term production company with a superior 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 fully permitted and bonded gold mine with past production values averaging 1.4 opt (42 gpt). Nixon Fork is located within Alaska's Tintina Gold Belt, which hosts numerous world class deposits. Fire River Gold is a member of the International Metals Group (www.internationalmetalsgroup.com).
On behalf of the Board of Directors, I look forward to keeping you updated with our corporate developments.