- 108.0 g/t ( 3.15 opt) gold over 2.4 m (7.9 ft) in hole N10U-047
- 11.4 g/t (0.33 opt) gold over 8.6 m (28.2 ft) in hole N10U-045
- 28,000 metre drill
program on going with two company-operated drills
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
from of drillholes 45 -- 53 (N10U-045
- N10U-053) from the 3000 and lower 3100 Zone.
The new intercepts include drillhole N10U-047, returned grades of 108.0
g/t (3.15 opt) gold over 2.4 m (7.9 ft)
and drillhole N10U-045 returning
grades of 11.4 g/t (0.33 opt) gold over 8.6 m (28.2 ft) with significant intersections
returning grades of 7.4 g/t (0.22 opt) gold over 0.4 m
(1.0 ft) at lower extension 3100
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
3100 Zone
|
|
|
|
|
|
|
|
N10U-045
|
222.9
|
231.5
|
8.6
|
28.2
|
11.4
|
0.33
|
22.9
|
0.67
|
0.26
|
|
246.6
|
246.9
|
0.4
|
1.3
|
7.4
|
0.22
|
140.0
|
4.08
|
0.04
|
N10U-046
|
NSI
|
|
|
|
|
|
|
|
|
N10U-047
|
192.0
|
194.3
|
2.7
|
8.9
|
108.0
|
3.15
|
147.0
|
4.29
|
0.48
|
N10U-048
to
N10U-051
|
NSI
|
|
|
|
|
|
|
|
|
Location 3000X Zone
|
|
|
|
|
|
|
|
N10U-052
|
43.5
|
52.1
|
9.2
|
30.2
|
5.3
|
0.15
|
23.1
|
0.67
|
1.11
|
Including
|
44.4
|
45.5
|
0.6
|
2.0
|
12.0
|
0.35
|
31.0
|
0.90
|
0.46
|
Including
|
50.6
|
52.1
|
1.5
|
4.9
|
24.0
|
0.7
|
96.0
|
2.80
|
4.97
|
N10U-053
|
NSI
|
|
|
|
|
|
|
|
|
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.