- 65.3g/t ( 1.90 opt) gold over 5.5
m (18.0 ft) in hole N10U-043
- 124.3g/t (3.63 opt) gold over 2.7
m (8.9 ft) in hole N10U-044
- 28,000 metre drill program on
going with two company-operated drills
March
28, 2011
Vancouver, Canada - Fire River Gold Corp
(TSXV: FAU) (OTCQX:
FVGCF) (FSE: FWR)
("FAU" or the "Company") is pleased to announce results obtained
from additional holes drilled during its 28,000 metre drill program
at the Nixon Fork Gold Mine, situated in Alaska's Tintina Gold Belt.
The Company has received and confirmed assay results of two
additional holes (N10U-043 - N10U-044) from the lower extension 3000
Zone.
The new
intercepts include drillhole
N10U-043, returned grades of
65.3g/t (1.90 opt) gold over 5.5 m (18.0 ft) and drillhole
N10U-044 returning grades of
124.3
g/t
(3.63 opt)
gold over 2.7 m (8.9 ft) with significant intersections returning
grades of 11.3 g/t (0.33
opt)
gold over 0.6 m (2.0 ft), and
11.7 g/t (0.34 opt)
over 1.5 m (4.9 ft) at lower extension 3000 Zone.
A complete list of the intercepts is provided in Table 1.
The widths of the intercepts are approximate to the true width of
the mineralized intercept. Both holes target the down dip extension
of the 3000 zone.
The
Company operates two drills continuously in the Crystal Mine. They
are primarily focussed on detailing mineralized zones scheduled for
the first six months of mining, beginning in June 2011. This
includes filling in gaps in mineralization and extending open zones
along strike and dip.
Table 1. Results from Holes N10U-041 and N10U-042
|
Hole |
From |
To |
Length |
Length |
Au |
Au |
Ag |
Ag |
Cu |
|
Number |
(metres) |
(metres) |
(metres) |
(feet) |
(gpt) |
(opt) |
(gpt) |
(opt) |
(%) |
|
Location 3000 Zone |
|
|
|
|
|
|
|
|
N10U-043 |
39.0 |
44.5 |
5.5 |
18.0 |
65.3 |
1.90 |
27.3 |
0.80 |
1.93 |
|
N10U-044 |
46.4 |
49.1 |
2.7 |
8.9 |
124.3 |
3.63 |
19.8 |
0.58 |
1.25 |
|
|
58.3 |
58.8 |
0.6 |
2.0 |
11.3 |
0.33 |
8.0 |
0.23 |
0.51 |
|
|
75.6 |
77,1 |
1.52 |
4.9 |
11.7 |
0.34 |
5.0 |
0.15 |
0.23 |
Quality
Assurance and Quality Control (QA/QC)
Rigorous
controls are in place to ensure the traceability of samples and their
results. Upon delivery core is prepped and logged with intervals of
interest and/or mineralization marked for sampling. The core is
subsequently photographed prior to cutting. Half the core is retained
for future reference and the remaining half placed in double poly bags
and sealed for shipment. Samples are delivered to ALS Chemex in
Fairbanks, AK where they are dried, crushed, and representative splits
are transported to ALS Chemex labs in either Reno, NV or Vancouver, BC
for assay. ALS Chemex complies with the requirements for the
International Standards ISO 9001:2000 and ISO 17025:1999. Analysis
includes Fire Assay with gravimetric finish for gold and ICP for 33
other elements. Gold assays results greater than 5 ppm are automatically
re-submitted for screen metallic analysis. QA/QC is verified using
external standards, blanks, and duplicates with 13% of all samples
submitted being QA/QC check samples. Results are examined ensuring
control samples fall within 2.5 standard deviations of certified values.
Failed results are re-analyzed by the lab and/or additional samples from
the remaining core are submitted for analysis.
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 that 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, the
Nixon Fork Gold Mine, back into production in Summer 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. |
|
"Richard Goodwin"
Richard Goodwin
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
safe harbour.
|
