- 26 g/t (0.76 opt) gold over 2.9 m
(9.5 ft) in hole N07U083
- Including 64 g/t (1.87 opt) over
1.0 m (3.3 ft)
- 2007 - 2008 underground
re-evaluation program complete
- Results pending for 7 additional
2007 surface holes (Whalen Zone)
- 2010/11 2800 metre
surface/underground drill program has commenced
- P.E.A. evaluating the CIL circuit
to reprocess the historic tailings pond due Sept 2010
- Resource update Fall 2010
September 14, 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
its on going re-evaluation program at the Nixon Fork Gold Mine situated
in Alaska's Tintina Gold Belt. The Company has received assay results
and completed careful review of holes 77 through 89 completed in 2007
(N07U077 to N07U089).
New significant intercepts include
N07U0083 returning grades of 26 g/t (0.76 opt) gold over 2.9 m (9.5 ft),
including 64 g/t (1.87 opt) over 1.0 m (3.3 ft) and intercept N07U084
returning grades of 32 g/t (0.93 opt) gold over 2.6 m (8.5 ft) as part
of the geological re-evaluation program for the Nixon Fork Gold Mine in
Alaska. A complete list of significant intercepts is provided in Table
1;
Table 1:
Results from holes N07U077 to N07U089
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.
Re-logging and sampling of the 2007 and 2008 drill core has been
completed. Geologic work has now been focusing on selected zones from
the pre-2007 core library, particularly in areas of favourable targets
and mineralization. Work has also begun on a new resource estimate
scheduled for completion by fall of 2010.
Table 2:
Best Results Released To Date
Table 2 illustrates the most recent
significant intercepts for drill holes re-logged and sampled during this
program. These drill holes were completed in the Crystal decline around
the 3300 zone near the 220 ft level. Most of the drill program completed
in 2007 was designed to test projections of known mineralized zones,
such as the 3300 zone with modest step-outs down and up dip as well as
along strike. Step-outs ranged from 7.5 metres to more than 40 metres
from known zones.
Table 3.
A comparison of the Original 2007 assays with the check assays from 2010
(field duplicates)
Objectives: 2010/11 Drill Program
As previously announced on
July 27th, 2010, and
September 7th 2010, a
diamond drill program of up to 28,000 metres has commenced at its Nixon
Fork Gold Mine. The surface program will test to expand six known zones
of mineralization which have the potential to provide additional
resources to the mill. The underground portion of the drill program will
focus on expanding resources, particularly in the 3300, 3500, 3100 Zone,
as well as other prospective zones.
The early performance of the drill crews has prompted the Company to
seek out and purchase a second unit and expand the mining department to
accommodate four shifts of drilling per day. At present, the mine has a
staff of nine mine workers, which will be expanded to accommodate this
program.
The project is being managed by Richard
Goodwin, P.Eng, V.P. 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 an
experienced 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 permitted and bonded mine with past
production values averaging 1.14 opt (39 gpt). Facilities at the Nixon
Fork Gold Mine include a 200 tpd flotation plant with a gravity gold
separation circuit and a sulphide flotation circuit. In 2008, a CIL gold
leaching circuit was purchased and approximately 60% installed. The mine
also includes a fleet of mining vehicles, a self-contained power plant,
maintenance facilities, drilling equipment, an 85 person camp, office
facilities and a 1.5 km long landing strip. Fire River Gold Corp 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.
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