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Northern Freegold Resources
"What is Happening at NFR"
The team at Northern Freegold is working away advancing the
Freegold Mountain Project. Following a busy field season,
we have a strong treasury ($5.7 million cash) to fund ongoing
analysis of 2009 results and next season's exploration program. NFR reported an initial inferred
resource at the Nucleus Zone of 1.08 million ounces on
July 27, 2009. This was based upon drilling completed to the end of
2008. The highlights of the
release are noted below:
- NI
43-101 Inferred Resource of 1,082,000 contained ounces of gold
within 67.57 million tonnes @ 0.50 g/t gold (0.3 g/t cutoff) within
Nucleus Zone
- Nucleus Zone open to expansion in all
directions and to depth
- 3-D
geologic modeling has identified important new east-west
structures associated
with mineralization in the Nucleus Zone, with significant
implications for expansion of gold mineralization to the Revenue
Zone, 4 km to the east
Release of a 1.08 million ounce
initial resource was a considerable milestone for Northern
Freegold. The significance of a 1 million ounce initial NI 43-
101 Inferred Resource, that remains open in all directions and to depth,
continues to be of noteworthy value and offers upside potential to
shareholders through resource expansion. A video of the Nucleus
Zone showing the resource outline and drill holes it is based on can be
viewed at the Company's website at http://www.northernfreegold.com
Click on the red button labeled "View Nucleus Resource
Video".
2009 Freegold
Mountain Program
10,440 m of Drilling
in 44 holes at Nucleus Zone
NFR is presently updating the 3D geological model at Nucleus to
incorporate the 44 drill holes form the 2009 program (24 holes to still be released).
The initial 9 drill holes released (August 13, 2009) tested the east-west
structures associated with mineralization, and were successful in
expanding laterally the continuity and geometry of the structures
controlling the higher grade mineralization. On October 22, 2009,
another 11 holes from the drilling were released. These results
were featured in an article entitled "Signs of a Modern Yukon Gold Rush" on
the front page of the November 2, 2009 Northern Miner
http://www.northernfreegold.com/i/pdf/2009-Nov-2-NorthernMiner.pdf
The results confirmed the extension of
gold mineralization to the south and to depth, and connected higher-grade
portions of the resource. NFR also realized that when looking at
the gram metre thickness by hole (basically taking the intervals in the
news release and multiplying the grade by the thickness in meters), hole
135 from the October 22nd release was one of the top ten holes drilled by
Northern Freegold. The remaining 24 holes will be released when all
final analyses are received and interpreted. As noted by the
Northern Miner, the Nucleus Deposit covers an area measuring roughly 2
sq. km., representing less than 1% of the road accessible 166 sq.
km. Freegold Mountain Project .
Geophysical and
Geochemical Surveys - A major breakthrough
The revelation of the east-west trend was a
major breakthrough which shows that Nucleus is part of a larger system
with potential for a major deposit. The 2009 program also included
detailed geological mapping and ground geophysics between the Nucleus and
Revenue Zones (a distance of 4 km) as well a property wide stream
sediment sampling and reinterpretation of airborne geophysics across the
project. Referring to the figure at the following
link:
one will note that the surface geochemical anomalies (gold and
copper) are plotted on the area between Nucleus and Revenue as well as
some of the stream sediment samples collected in 2009 (round dots in
streams), and the approximate outline of the existing inferred resource
(1.08 million ounces) at the Nucleus Zone. What is significant about this figure is:
- Most of the area where an inferred resource has
been outlined, has a relatively low soil geochemical signature
associated with it
- A 4 km long geochemical anomaly is significant
in size (many properties don't cover 4 km)
- Gold geochemical anomalies exist that are at
the same grade as the current resource (FYI 500 ppb Au is
equal to 0.50 g/tonne Au). The figure shows the gold
geochemical anomalies in yellow/orange/red (50 to >500 ppb
Au). Gold anomalies over 50 ppb are considered significant in
this mining district, and it is exciting from an expansion potential
point of view when you have soil anomalies that are the same grade
or higher than the grade in the current resource.
- Copper anomalies also extend between the two
zones. NFR has focused on the
gold, yet will also be looking at the copper in the context of the
larger system as it suggests that the mineralization on the property
may be driven by a large gold rich porphyry system.
- Stream sediment samples - round dots on
map (if anomalous indicate values must have come from
"upslope") are significantly elevated within the Nucleus
Revenue area.
In conjunction with the review and compilation of historical data,
such as the geochemical analysis described above, the detailed geological
mapping and ground geophysical surveys conducted in 2009 have had
significant impact on the understanding of the geology in the Nucleus
Revenue area. This understanding helps us to identify what rock
units may host additional mineralization. This detailed work
completed in the Nucleus Revenue area is now being applied project
wide. The project wide implications of this detailed work in
conjunction with the project wide stream sediment sampling and historical
data compilation is aiding Northern Freegold in establishing a priority
target map.
We have a new video on our website which is "fly-over" of
the entire project. I encourage you to take a look at this
fly-over, as it emphasizes the significant prospective district scale
land package that we have. Click on the red button entitled Freegold
Mountain Project Video at
Next Steps
As
mentioned above, Northern Freegold is presently updating and revising the
3D geological model of the Nucleus Zone to include all the information
from this years program along with additional historic data that was not
previously available. 3D geological modeling is the critical first
step in the resource definition process. From the 3D geological
model, independent engineers will generate a block model which estimates
tonnes and grades providing a resource. From this work NFR will be
providing an update on the Nucleus resource in 2010.
In
conjunction with the ongoing work on the geological modeling at Nucleus,
NFR is strategically assessing project wide data, and applying the new
interpretations from the 2009 geological/geophysical work to
help focus in on priority targets and systems at Freegold Mountain.
Determining the priority of where to target is key to the success of the
2010 program at Freegold Mountain..
Our
2010 objective at Freegold Mountain is to expand the
existing resources and to test the best targets in other areas of
the property that have potential for the discovery of new
resources. At this point, NFR has adequate funds to carry out a
strategic program that would focus on this objective.
Most Recently in the News
In September 2009, Northern Freegold was featured in the story
"Location makes Northern Freegold of Special Interest"
http://www.northernfreegold.com/i/pdf/2009-Oct-theprospector.pdf
in the
October edition of The Prospector. This story was written by
an investment advisor familiar with the Yukon Territory.
Northern
Freegold Resources is continuing to expand its shareholder base by
creating awareness of NFR's past success and future opportunities.
Recently
NFR attended the 2009 New Orleans Investment Conference and held
presentations in New York, Boston and Toronto. NFR will be
attending the Hard Assets Conference in San Francisco November
21&22. NFR is presenting a technical paper and 2 technical
posters the Yukon Geoscience Forum in Whitehorse November 23 to 25, and
will also be hosting an Open House in Whitehorse on November 25.
NFR is participating in the London's Mines and Money show December 1
& 2 in London, England, and will be spending the next week following
up with investors from Europe.
In the New
Year, Northern Freegold will be part of the "Yukon Room" at the
Cambridge House conference being held January 18 & 19 at the Hotel
Vancouver. Northern Freegold has also been asked to present in the
BC & Yukon Exploration Highlight Session at Roundup 2010 January 18
to 21st in Vancouver. Roundup is one of the premier technical
conferences in the world, and often attracts the between 5 - 6,000
attendees. I have the honour of co-chairing this conference which
presents interesting and intriguing projects from around the world.
The link to Roundup 2010 is:
On behalf
of the board and senior management, I would like to thank investors for
their continued interest and support of Northern Freegold Resources.
Northern Freegold Resources Ltd.
On behalf of the Board of Directors
Signed "Susan P. Craig"
Susan P. Craig, P. Geo.
President
Northern Freegold Resources Ltd.
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