Prior Exploration Activities at Burro Creek Undertaken by Northern Freegold
A 2008 drill program with 33 holes totaling 2,565 metres was drilled along the vein system. The main focus of the drill program was to confirm and update historical results on an open pittable, epithermal gold/silver mineralized zone on the property and to drill test areas on the property with potential to discover additional mineralization within the extensive epithermal vein system. The Burro Vein has a 1.7 km known strike length and is up to 45 metres wide. It remains open in both directions and to depth.
Highlights of the 2008 program include: hole BC08-030 which intersected 4.6 m of 7.99 g/t gold and 192.72 g/t silver including 1.03 m of 31.80 g/t gold and 759.00 g/t silver, and hole BC08-038 which intersected 51.3 m of 0.94 g/t gold and 56.10 g/t silver including: 26.73 m of 1.20 g/t gold and 43.96 g/t silver.
Results from the 2008 drill program confirmed the historical results on the property and confirmed the potential to expand historical resources.
Indicated & Inferred NI 43-101 Resource
Northern Freegold released its first Indicated resource estimate delineating 75,600 contained gold ounces and 2,757,000 contained ounces of silver (@ 0.5 g/t AuEq cutoff) within 2.3 million tonnes grading 1..01 g/t gold and 36.77 g/t silver in February 28, 2011. An Inferred resource of 43,200 contained ounces of gold and 2,236,000 contained ounces of silver (@ 0.5 g/t AuEq cutoff) was delineated within 2.2 million tonnes grading 0.60 g/t gold and 30.95 g/t silver.
The Indicated and Inferred mineral resource estimate was prepared in compliance with the standards of NI 43-101 by Dr. A. Armitage, Ph.D., P.Geol., and J. Campbell, B.Sc., P.Geo. of GeoVector Management Inc.. GeoVector is an Ottawa, Ontario consulting firm specializing in resource estimation, project assessment, and project management. Dr. Armitage acted as the Qualified Person, as defined in NI 43-101 and was Independent of the Company at the time the report was released. Mineral resources do not demonstrate economic viability, and there is no certainty that these mineral resources will be converted into mineable reserves once economic considerations are applied. AuEq values were calculated using metal prices of US$846/oz gold and US$14.40/oz silver. The NI 43-101 resource estimate was finalized and filed on SEDAR (www.sedar.com) on February 28, 2011.
The technical information disclosed in this release has been reviewed by Paul Reynolds, B.Sc., P.Geo., Vice President Exploration for Northern Freegold Resources Ltd. Mr. Reynolds is a Qualified Person as defined by NI 43-101.
About Northern Freegold
Northern Freegold Resources Ltd. (TSX.V: NFR; OTCQX: NFRGF) trades in Canada on the TSX Venture Exchange under the symbol "NFR" and in the United States on the OTCQX under the symbol "NFRGF". Northern Freegold is a growth oriented Canadian-based precious metals exploration and development company. Northern Freegold brings wide-ranging expertise and strong management to focus on the development of its district-scale Freegold Mountain gold and copper project in the Yukon and the Burro Creek gold and silver property in Arizona.
PR Contact for Northern Freegold Resources Ltd.:
Andy Hay, Corporate Communications, +1 (604) 893-8757, andy@northernfreegold.com
On behalf of the Board of Directors
Signed "John Burges"
John Burges, President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. |