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April 13, 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 2011, 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 from 19 of 22 drill holes from the 3000 and 3300 Zone.
The new intercepts include drillhole
N11U-010, returning grades of 16.7 g/t (0.49 opt) gold and 26.2 g/t
(0.76 opt) silver over 8.8 m (28.9 ft) including 88.3 g/t (2.43 opt)
gold and 70.2 g/t (2.05 opt) silver over 1.7 m (5.6 ft) at the 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 |
|
|
|
|
|
|
|
|
N11U-001 - 004 |
NSI |
|
|
|
|
|
|
|
|
|
N11U-005 |
75.6 |
78.1 |
2.5 |
8.2 |
12.9 |
0.38 |
56.4 |
1.6 |
1.55 |
|
Including |
76.7 |
78.1 |
1.4 |
4.6 |
20.4 |
0.59 |
87.0 |
2.54 |
2.11 |
|
N11U-006 |
72.9 |
80.5 |
7.6 |
24.9 |
9.6 |
0.28 |
55.5 |
1.62 |
0.97 |
|
Including |
76.7 |
79.0 |
2.3 |
7.5 |
25.7 |
0.75 |
96.6 |
2.82 |
1.45 |
|
N11U-007 |
43.6 |
48.2 |
4.6 |
15.1 |
1.6 |
0.05 |
82.0 |
2.39 |
0.18 |
|
N11U-008 |
49.7 |
51.7 |
2.1 |
6.9 |
15.3 |
0.45 |
35.1 |
1.02 |
0.31 |
|
Including |
51.2 |
51.7 |
0.5 |
1.6 |
57.0 |
1.66 |
52.0 |
1.52 |
0.57 |
|
N11U-009 |
33.3 |
36.0 |
2.7 |
8.9 |
5.7 |
0.17 |
1.5 |
0.04 |
0.01 |
|
Including |
33.3 |
34.5 |
1.2 |
4.3 |
10.3 |
0.30 |
1.0 |
0.03 |
0.02 |
|
N11U-010 |
37.5 |
46.3 |
8.8 |
28.9 |
16.7 |
0.49 |
26.2 |
0.76 |
1.11 |
|
Including |
41.6 |
43.3 |
1.6 |
5.6 |
83.3 |
2.43 |
70.2 |
2.05 |
3.55 |
|
N11U-011 |
Awaiting results |
|
|
|
|
|
|
|
|
|
N11U-012 |
40.9 |
42.9 |
2.0 |
6.6 |
5.8 |
0.17 |
2.5 |
0.07 |
0.12 |
|
N11U-013 |
NSI |
|
|
|
|
|
|
|
|
|
N11U-014 |
29.3 |
30.2 |
0.9 |
2.9 |
9.8 |
0.29 |
164.0 |
4.78 |
0.3 |
|
N11U-015 |
NSI |
|
|
|
|
|
|
|
|
|
N11U-016 |
31.4 |
33.9 |
2.5 |
8.2 |
7.4 |
0.22 |
144.0 |
4.20 |
0.1 |
|
N11U-017 |
NSI |
|
|
|
|
|
|
|
|
|
N11U-018 |
Not Sampled |
|
|
|
|
|
|
|
|
|
Location 3300 Zone |
|
|
|
|
|
|
|
|
|
|
|
|
|
N11U-019 |
Awaiting results |
|
|
|
|
|
|
|
|
N11U-020 |
227.1 |
230.1 |
2.9 |
9.5 |
12.3 |
0.36 |
14.7 |
0.43 |
0.67 |
|
Including |
227.1 |
228.6 |
1.5 |
4.9 |
23.3 |
0.68 |
26.0 |
0.76 |
1.13 |
|
N11U-021 |
Awaiting results |
|
|
|
|
|
|
|
|
|
N11U-022 |
17.7 |
20.6 |
2.9 |
9.5 |
18.4 |
0.54 |
38.9 |
1.13 |
0.99 |
|
Including |
17.7 |
18.2 |
0.5 |
1.6 |
96.0 |
2.80 |
160.0 |
4.67 |
- |
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.
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