- 28.8 g/t (0.84 opt) gold over 13.7 m
(44.9 ft) in hole N10U-038
- including 96.1 g/t (2.80 opt) gold
over 0.9 m (2.9 ft)
- including 118.5 g/t (3.46 opt) gold
plus 2.8% copper over 1.3 m (4.3 ft) at 3300 Zone
- 202.7 g/t (5.91 opt) Gold Over 1.0 m
(3.6 ft) in hole N10U-040
- 8.6 g/t (0.25 opt) over 1.5 m (4.9
- 6.0 g/t (0.17 opt) over 0.8 m (2.6
ft) at 3000 Zone
March 14, 2011 Vancouver, Canada -
Fire River Gold Corp (TSXV: FAU) (OTCQX: FVGCF) (FSE: FWR) ("FAU"
or the "Company") is pleased to announce results obtained from the
2010 28,000 metre drill program at the Nixon Fork Gold Mine situated
in Alaska's Tintina Gold Belt. The Company has received assay
results of holes 36 through 40 (N10U-036 - N10U-040) from the lower
extension 3000 and 3300 Zones.
New significant intercepts include
N10U-038 returning grades of 28.8 g/t (0.84 opt) gold over 13.7 m
(44.9 ft), including 96.1 g/t (2.80 opt) over 0.9 m (2.9 ft) and
including 118.5 g/t (3.46 opt) over 1.3 m (4.3 ft) at lower
extension 3300 Zone and intercept N10U-040 returning grades of 202.7
g/t (5.91 opt) Gold Over 1.0 m (3.6 ft) at lower extension 3000
Zone. A complete list of significant intercepts is provided in
Table 1. The widths of the intercepts are approximate to the
true width of the mineralized intercept.
The Company is once again encouraged with the results from the
2010 drill program, because it is exhibiting the potential to
provide additional resources to the mill. Drill results are being
used to guide the six-month operating plan for the mine start up.
Table 1. Results from holes N10U-036 to N10U-040
All core from the 2010 program was
logged at the Nixon Fork Mine camp. The core was then sawn in half,
and half of the sample shipped to ALS Minerals, a certified
analytical laboratory located in Reno Nevada and a subsidiary of ALS
Nixon Fork Gold Mine
The Nixon Fork Gold Mine was acquired in September 2009. From 1995 -
2007, the project produced approximately 175,000 ounces of gold at
an average grade of 39 grams per ton (1.14 opt). The mining and
processing facilities at Nixon Fork are permitted and bonded. The
deposit is a gold-rich copper silver skarn typical of other skarn
systems found throughout the world. At Nixon Fork, the higher grades
are found in steeply plunging pipe-like bodies which are oxidized to
depths of up to 350 meters below the surface. Oxidization of the
system has resulted both in secondary copper and gold, with high
grades and a "nuggety" distribution.
The Qualified Person for this news release is Richard Goodwin, P.Eng,
President & C.O.O for Fire River Gold.
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,
Fork Gold Mine, back into production in 2011. The Nixon Fork
Gold Mine is a permitted and bonded mine which include a ~200 tpd
processing plant with a gravity gold circuit, sulphide flotation
circuit and a gold recovery system (CIL circuit) that is scheduled
to be completed by Summer 2011. The mine also includes a fleet of
surface & underground mining vehicles, a self-contained power plant,
maintenance facilities, drilling equipment, an 85 person camp,
office facilities and a 1.2 km long landing strip.
Fire River Gold Corp is a member of the International Metals Group.
On behalf of the Board of Directors, I look
forward to keeping you updated with our corporate developments.
President and COO
Certain information regarding the Company including management's
assessment of future plans and operations, may constitute forward-looking
statements under applicable securities laws and necessarily involve risks
associated with mining exploration and development, volatility of prices,
currency fluctuations, imprecision of resource estimates, environmental and
permitting risks, access to labour and services, competition from other
companies and ability to access sufficient capital. As a consequence, actual
results may differ materially from those anticipated in the forward-looking
statements. A feasibility study has not been completed and there is no certainty
the disclosed targets will be reached nor that the proposed operations will be
economically viable. The TSX Venture Exchange or its Regulation Services
Provider have not reviewed and do not accept responsibility for the adequacy or
accuracy of the contents of this news release, which has been prepared
by management. We seek