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November 1, 2011, Vancouver, Canada -
Fire River Gold Corp. and Mystery Creek Resources Inc. (the "Company", "FAU")
(TSX.V: FAU), (OTCQX: FVGCF), (FSE: FWR) is pleased to announce
high-grade results obtained from the discovery of the new 3550 Zone at
the Nixon Fork Mine, which are shown in Table 1, below:
Table 1:
Assay Results from Zone 3550
Because of the shallow dip of the drill holes, apparent widths approximate true widths for these intersections.
The hole have been drilled in the down dip extension of a previously mined ore body called the Hi Grade Recreation Zone, which was mined to a depth of 50 m from surface (to 330 mASL) in the 1920s, as depicted in Figure 1. The zone was found to bottom out in the original mining program, and diamond drilling performed by the company and prior operators could not establish the existence of a down-dip extension.
Applying a horizontal offset evident in the 3300 Zone to the 3550 Zone, our geologists deduced that it was possible that the down-dip extension existed. Three longer holes were planned and drilled to test the theory, which yielded very positive initial results in the form of mineralized zones with visible gold, usually an indicator of high grade mineralization (Table 1).
Figure 1:
The New 3550 Zone at the Nixon Fork Mine Project
The 3000 and 3300 zones extend
continuously from surface at approximately 400 mASL to 90 mASL and
neither has been "bottomed out". Approximately 185,000 ounces of gold
has been extracted in the modern era (from 1993 to present), most of
which has been from the 3000 and 3300 zones. Both have been mined from
the main ramp to a depth of 160 mASL. Current mining activities are also
concentrated on these two zones. The 3550 Zone could represent a
"triplet" to these two significant zones, and provide the opportunity to
significantly increase our resources and mine life. If the 3550 zone
demonstrates the same vertical continuity as the two other zones, its
location is ideal for minimizing the capital cost and time requirement
to establish access for mining, as the entire vertical extent will be
close to existing development.
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.
The Qualified Person for this news release is Richard Goodwin, P.Eng,
President & C.O.O for Fire River Gold.
On behalf of the Board of Directors,
"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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