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Wednesday, June 04, 2008 Northern Freegold Initiates Fourth Drill in 25,000 m Diamond Drill Program at Freegold Mountain, Yukon
Vancouver, BC. June 4, 2008. Northern Freegold Resources Ltd. (NFR: TSX-V) is pleased to announce it has commenced drilling in the Tinta Zone on the district scale 166 sq km (64 sq mile) Freegold Mountain Project in the Yukon Territory. The Tinta Zone is an intrusion hosted high grade polymetallic vein system, extending over 3500 m (11,500 feet) in length. To date, over 3,750 m (12,300 feet) in 18 drill holes have been completed at Freegold Mountain this year.
The main focus of the 2008 drill program in the Tinta Zone is to confirm and update historical results on a high-grade polymetallic mineralized vein system and to drill test areas with potential to discover additional mineralization. Four holes of the 2007 program in the Tinta Zone extended the high-grade values within the Tinta Vein System to 300 m (1,000 feet) depth and thus tripled the potential size of the mineralized system which is still open along strike in both directions and to depth. For example, Hole TH07-08 in the Tinta Zone returned 1.7 m (5.58 feet) of 14.90 g/t (0.435 oz/t) gold, 446.00 g/t (13.00 oz/t) silver, 3.3% copper, 5.2% lead and 0.66% zinc (see press release September 10, 2007). The 2008 drill program in the Tinta Zone has been planned so that a NI 43-101 compliant resource may be calculated upon receipt of the results from the 2008 season.
The second of the two drills focusing on the Nucleus Zone commenced drilling on May 29th. To date the drills at Nucleus have completed over 2,800 m (9,184 feet) in 12 holes, and are strategically drill testing the area adjacent to holes GRD07-41 and GRD07-58, which returned 72 m of 2.5 g/t Au and 75 m of 4.26 g/t Au respectively in 2007, and highlighted a higher grade trend with the Nucleus Zone, a low grade, bulk tonnage gold target. These two drills will focus on the Nucleus Zone in order that the company may calculate a NI 43-101 compliant resource at the Nucleus Zone upon results from the 2008 season.
The drill currently in the Goldy Zone is following up on the 53 m (174 foot) intercept of 3.6 g/t gold discovered in 2007 and has completed over 950 m to date, (3,100 feet) in 6 holes. This drill will also be following up on porphyry style mineralization at the Stoddart Zone, and the high grade gold-silver-copper mineralization at the Ridge Zone (both discovered in 2007), and other zones of interest.
Freegold Mountain Project The Freegold Mountain Project is situated within the Dawson Range portion of the Tintina Gold Belt, characterized by plutonic rocks of the 100 million year old Cretaceous Dawson Range Batholith and early Jurassic Klotassin Suite metaplutonic rocks intruding metavolcanic and metasedimentary rocks of the Yukon-Tanana Terrane. The Dawson Range is a well-mineralized belt over 100 km long, extending from Mount Freegold northwesterly to the Casino copper-gold porphyry deposit. This belt is transected by the west-northwest trending Big Creek Fault, which provides the locus for many mineral occurrences including placer gold deposits, porphyry gold-copper mineralization, gold veins and breccias bodies. The Freegold Mountain Project covers a 35 km long section of this belt.
The Project area is in excess of 166 square km (64 square miles) and includes several road-accessible mineralized zones with historical resource estimates (not compliant with NI-43-101). Work on the Freegold Mountain Project dating back to 1930 indicates that the property has the potential to host intrusion related gold deposits or bulk-tonnage gold+/-copper porphyry style mineralization (eg. the Nucleus Zone) with similarities to the mineralization at Kinross Gold's Fort Knox deposit in Alaska which has produced more than 3 million ounces in the past 10 years and still has a resource of 2.7 million ounces of gold from proven and probable reserves of 159.7 million tonnes grading 0.53 g/t as at Dec. 31, 2006 (www.kinross.com). (These reserves have not been verified by the qualified person and the information is not necessarily indicative of the mineralization at Freegold Mountain Project). The Project also has potential to host other related deposit types such as intrusive-hosted polymetallic vein systems (Tinta Hill), epithermal vein systems (Goldy, Dart) and skarn deposits (Margarete/Augusta), as well as other porphyry targets (Stoddart).
The technical information disclosed in this release has been reviewed and approved by Susan P. Craig, P. Geo.
Northern Freegold is a well financed Canadian-based resource exploration and development company which relies on local expertise and strong management to focus on development of economic reserves on the district-scale Freegold Mountain Project in the Yukon and Arizona.
Northern Freegold Resources Ltd. On behalf of the Board of Directors
Signed "Susan P. Craig"
Susan P. Craig President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. |
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