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Tuesday, July 29, 2008
Northern Freegold Intersects 1.23 Metres of 92.74 g/t Gold within 46.96 Metres of 9.6 g/t Gold in Nucleus Zone at Freegold Mountain, Yukon
Press Release #08-21
Vancouver, BC: July 29, 2008. Northern Freegold Resources Ltd. (NFR: TSX-V) is pleased to announce results from 5 additional drill holes in the Nucleus Zone at the district scale 166 sq km (64 sq mile) Freegold Mountain Project in the Yukon Territory. Four of the holes were step out holes drilled to the east of Hole GRD08-068 which intersected 3.25 m (10.66 feet) of 100.69 g/t (2.94 oz/ton) gold within 37.80 m (124.02) feet of 10.41 g/t (0.30 oz/ton) gold (see press release dated June 9, 2008). Two of the 4 holes (GRD08-071 and GRD08-073) intersected a sulphide rich zone similar to Hole GRD08-068. Hole GRD08-073 intersected 1.23 m (4.04 feet) of 92.74 g/t (2.70 oz/ton) gold within 46.96 m (154.07 feet) of 9.6 g/t (0.28 oz/ton) gold.
Highlights of Holes GRD08-71 and 73
| Hole No. |
Length |
From |
To |
Interval |
Interval |
Au |
Au |
Cu |
Cu |
| m |
m |
m |
m |
feet |
g/tonne |
oz/ton |
ppm |
% |
| GRD08-073 |
234.08 |
102.40 |
149.36 |
46.96 |
154.07 |
9.60 |
0.28 |
2172 |
0.22 |
| Including |
|
102.40 |
131.89 |
29.49 |
96.75 |
14.26 |
0.42 |
2941 |
0.29 |
| Including |
|
102.40 |
115.11 |
12.71 |
41.70 |
20.91 |
0.61 |
1762 |
0.18 |
| Including |
|
102.40 |
103.63 |
1.23 |
4.04 |
92.74 |
2.70 |
2102 |
0.21 |
| Including |
|
110.49 |
111.80 |
1.31 |
4.30 |
42.15 |
1.23 |
3070 |
0.31 |
| Including |
|
114.48 |
115.11 |
0.63 |
2.07 |
105.79 |
3.09 |
2041 |
0.20 |
| Including |
|
124.13 |
127.58 |
3.45 |
11.32 |
33.09 |
0.97 |
5906 |
0.59 |
| Including |
|
143.84 |
145.08 |
1.24 |
4.07 |
20.65 |
0.60 |
3488 |
0.35 |
| GRD08-071 |
266.70 |
138.98 |
173.15 |
34.17 |
112.11 |
2.57 |
0.07 |
2179 |
0.22 |
| Including |
|
152.06 |
156.26 |
4.20 |
13.78 |
8.54 |
0.25 |
2199 |
0.22 |
| Including |
|
153.97 |
155.62 |
1.65 |
5.41 |
13.80 |
0.40 |
2398 |
0.24 |
Nucleus Zone (partial results)
To date the drills at Nucleus have completed over 11,382 m (37,342 feet) in 42 holes, and are strategically drill testing a higher grade trend within the Nucleus Zone discovered in 2007, as well as continuing to step out from existing mineralization elsewhere in the zone. Prior to 2008, the higher grade trend was porphyry style mineralization hosted in veins, breccias, porphyry dikes and faults and capped by a deep iron oxide layer. The 2008 holes are hosted in gold-rich (abundant visible gold in some samples) sulphide lenses that appear to be conformable within the metasedimentary layers of the host rocks. Two drills are focusing 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. Additional results will be released as they are received, compiled and interpreted.
Drill sections and a 3D model can be viewed at www.corebox.net or by following a link on the Company's website at www.northernfreegold.com.
Susan Craig, President commented "The company is very pleased that step out drill holes have returned long intervals of over 10 g/t gold and intervals over 100 g/t gold within the newly discovered sulphide rich mineralization along the east side of the Nucleus zone. We are very interested in receiving results from additional drill holes recently completed adjacent to this trend. "
Results from GRD08-69, 70, 71 and 72 are found in the table below.
| Hole No. |
Length |
From |
To |
Interval |
Interval |
Au |
Au |
Cu |
Cu |
| m |
m |
m |
m |
feet |
g/tonne |
oz/ton |
ppm |
% |
| GRD08-069 |
185.21 |
43.74 |
45.78 |
2.04 |
6.69 |
4.61 |
0.13 |
1444 |
0.14 |
| And |
|
86.77 |
92.34 |
5.57 |
18.27 |
0.84 |
0.02 |
1246 |
0.12 |
| GRD08-070 |
284.99 |
60.00 |
64.16 |
4.16 |
13.65 |
0.70 |
0.02 |
1801 |
0.18 |
| And |
|
86.56 |
89.44 |
2.88 |
9.45 |
1.64 |
0.05 |
2854 |
0.29 |
| And |
|
219.59 |
220.98 |
1.39 |
4.56 |
21.50 |
0.63 |
811 |
0.08 |
| GRD08-071 |
266.70 |
42.73 |
50.07 |
7.34 |
24.08 |
0.82 |
0.02 |
1598 |
0.16 |
| And |
|
138.98 |
173.15 |
34.17 |
112.11 |
2.57 |
0.07 |
2179 |
0.22 |
| Including |
|
152.06 |
156.26 |
4.20 |
13.78 |
8.54 |
0.25 |
2199 |
0.22 |
| Including |
|
153.97 |
155.62 |
1.65 |
5.41 |
13.80 |
0.40 |
2398 |
0.24 |
| And |
|
214.34 |
215.51 |
1.17 |
3.84 |
1.01 |
0.03 |
4485 |
0.45 |
| GRD08-072 |
231.65 |
52.40 |
54.42 |
2.02 |
6.63 |
3.59 |
0.10 |
2540 |
0.25 |
| And |
|
71.68 |
94.32 |
22.64 |
74.28 |
0.53 |
0.02 |
* |
* |
| Including |
|
86.29 |
91.40 |
5.11 |
16.77 |
1.09 |
0.03 |
* |
* |
| And |
|
170.59 |
173.01 |
2.42 |
7.94 |
1.05 |
0.03 |
5525 |
0.55 |
| And |
|
203.01 |
20.490 |
1.89 |
6.20 |
23.90 |
0.70 |
* |
* |
| And |
|
217.22 |
222.40 |
5.18 |
16.99 |
0.73 |
0.02 |
* |
* | Mineralized intervals with a length x grade value of less than 2.5 g/t/m are not included in the above table.
*Cu values < 1,000 ppm
The first part of the 2008 drilling program was to drill six holes (GRD08-068 to 73) to test the eastward extent of the high grade trend outlined in 2007. The drill was then moved further south to test other parts of the Nucleus Zone. Following the results from the first hole, GRD08-068, the drill returned to the first area to follow up the sulphide lenses hit in holes 68, 71 and 73. A further 8 holes have been drilled to date (results pending) and more holes are planned.
GRD08-069 was a 50 metre step-out from hole GRD08-068 that did not intersect any sulphide lenses. GRD08-070 was drilled east and south of 68 and did not hit a sulphide lens, but did return gold values hosted in porphyry-style mineralization, including 21.50 g/t over 1.39 m. Hole GRD08-070 was also mineralized with chalcopyrite as disseminations, along foliation and on fracture surfaces and in stringers, and returned anomalous copper values (35.05 m of 0.11% Cu).
Hole GRD08-071, drilled over 100 m to the east of hole 68 and 50 m southeast of 073, intersected two sulphide lenses, an upper gold bearing lens and a lower copper bearing lens (27.88 m of 0.18% Cu). The upper lens has a drilled width over 30m. Hole GRD08-072, drilled 50 m to the northwest of hole 68 did not hit a sulphide lens, but did return gold values hosted in porphyry-style mineralization, including 23.90 g/t over 1.89 m. See results in the table above.
Exploration Manager
Northern Freegold is pleased to announce that Dr. Fabrizio Colombo, P. Geo. has joined the company as Exploration Manager. Dr. Colombo has worldwide experience in exploration project management of epithermal vein and porphyry systems, as well as resource modeling and orebody evaluation. Dr. Colombo will be overseeing the exploration and project management on the Freegold Mountain Project, as well as the Burro Creek Property in Arizona.
Freegold Mountain Project
The Freegold Mountain Project is a road accessible district scale property that covers 166 square km (64 square miles). Within the project expanse are at least 20 known mineralized zones, some with historical resource estimates (not compliant with NI 43-101). Northern Freegold is actively drilling on five of those zones (2% of the total project area), two of which to calculate NI 43-101 resource calculations at the end of the 2008 program (Nucleus and Tinta), and 3 of which are still at an exploration stage (Goldy, Stoddart, Ridge).
The district scale 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.
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 3.8 million ounces of gold from proven and probable reserves of 241 million tonnes grading 0.50 g/t as at Dec. 31, 2007 (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).
2008 Program
To date in 2008, 76 holes totaling 18,668 m (61,246 feet) have been diamond drilled at the Freegold Mountain Project.
Tinta Zone - 2008 Program
The Tinta Zone, located 20 km from the Nucleus Zone, is a high grade gold-silver-copper polymetallic vein system. The 2008 program is focused on drilling the vein system such that a NI 43-101 compliant resource may be calculated at the Tinta Zone, upon receipt of results. To date, a total of 13 holes totaling 2,957 m (9,701 feet) have been drilled.
Goldy Zone - 2008 Program
Drilling in the Goldy Zone in 2007, located 17 km from the Nucleus Zone, and 6 km from the Tinta Zone, intersected a 53 m (174 foot) intercept of 3.6 g/t gold. Drilling began at the Goldy Zone on May 21, 2008 and a total of 8 holes totaling 1,500 m (4,921 feet) have been drilled to follow up on this high grade intersection.
Stoddart Zone - 2008 Program
Upon completion of the initial phase of drilling at the Goldy Zone, the diamond drill moved from to the Stoddart Zone, located 9 km from the Nucleus Zone, and 8 km from the Goldy Zone. Two holes, testing a soil geochemical anomaly, drilled at the end of the 2007 program intersected porphyry style mineralization at the Stoddart Zone. A total of 10 holes totaling 2560 m (8,399 feet) have been drilled in 2008 to trace the porphyry mineralization discovered in 2007.
Ridge Zone - 2008 Program
High grade gold-silver-copper mineralization was discovered in mineralization at the Ridge Zone in 2007. The Ridge Zone is located 8 km from the Nucleus Zone, and 1 km to the west of the Stoddart Zone. To date, three drill holes totaling 269 m (883 feet) have been completed to test the mineralization within the trenching from 2007.
Sample Processing
In order to try and understand the mineralizing systems in each of our zones, NFR is carrying out a series of tests, prior to drill core samples being sent to the lab. NFR is drilling oriented core at Freegold Mountain, in order to have drill core which has a known spatial position, which provides more quantitative technical data for accurately defining the dip and strike of units, orientation of fractures and jointing or structures that are hosting the mineralization. Drill core is also undergoing alteration mapping, which is an important tool in understanding and exploring for ore deposits. NFR is utilizing a portable PIMA (Portable Infrared Mineral Analyser) spectrometer, which allows rapid, cost-effective high-quality data acquisition as it is sensitive to various minerals found in altered zones around ore bodies. The alteration mapping can complement and enhance other mapping techniques, resulting in the development of stronger deposit models and more powerful exploration methodologies. Drill core is also being tested by a magnetic susceptibility meter. Quite often, gold mineralization is associated with magnetic/conductive minerals, and this meter allows NFR to collect this data. This work will better help the company determine additional targets and trends to follow up on in each zone. Following these processes, the drill core is logged, sawn or split, and then sent to the labs, as noted below.
Quality Control and Assurance
The holes were drilled by a skid mounted diamond drill with NTW core size (5.6cm/2.2 inches in diameter). All core samples from diamond drilling are split and sent to EcoTech Laboratory in Whitehorse for sample preparation and then to EcoTech Laboratory in Kamloops for analysis. Blanks, commercial standards and duplicate core samples are included in each batch. Gold is analysed on 30 gram pulps by fire assay followed by four acid total digestion and Atomic Absorption Spectrometry (AAS). Gold values greater than 1000 ppb are reanalysed by gravimetric fire assay. Other elements are analysed by 29 element ICP analysis after four acid total digestion. Additional check analyses and assays will be carried out by ALS Chemex in North Vancouver. Intervals reported in this release do not necessarily represent true widths of mineralization.
The technical information disclosed in this release has been reviewed and approved by Susan P. Craig, P. Geo.
Northern Freegold has granted incentive stock options to employees and consultants of the company for the purchase of a total of 60,000 shares at an exercise price of $0.70 per share, expiring July 28, 2011.
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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