Felix Gold Limited (ASX: FXG) has commenced infill drilling at the NW Array Southern Zone Exploration Target (ET) within its flagship Treasure Creek Gold-Antimony Project in the Fairbanks District of Alaska.
Felix’s key objective for the 2023 field season is to advance the geological confidence of the NW Array Southern Zone to enable delineation of a maiden JORC-compliant Mineral Resource.
The initial 2023 drill campaigns have commenced with the mobilization and set up of the first drill hole by Midnight Sun Drilling. This programme entails 40 shallow Reverse Circulation (RC) drill holes, for approximately 3,500m. Drill holes are designed as step-out holes from some of the top intercepts returned from the 2022 drill program. Additionally, drilling will expand and infill between areas with significant past results ultimately confirming both shallow (~50m depth) and deeper mineralization (~150m) along modelled faults.
Results to date evident a thick, shallow gold deposit of robust open pit tenor, and the mineralization remains open in multiple directions and at depth.
“Having just closed a strongly supported capital raise in April we are pleased to be kicking off the 2023 exploration season with an infill drill program at the NW Array Southern Zone target. Having calculated a sizable JORC compliant Initial Exploration Target for the NW Array we are now in the position of being able to make inroads into a Maiden Mineral Resource Estimate,” Managing Director and CEO, Anthony Reilly, said.
“Felix’s objective is the discovery of a multi-million ounce gold resource in the infrastructure rich Fairbanks district and I am extremely pleased with the progress our team is making towards fulfilling this goal. I expect to be able to deliver an initial Mineral Resource Estimate for this area in Q4 CY2023 which will be a foundation for continued growth in 2024.”
Felix is planning and budgeting its drilling to have a 4-step prioritization structure:
1. Test around holes 22TCRC008 (90m @1.20g/t Au from 32m incl 60m @1.60g/t Au from 42m) and 22TCRC078 (90m @0.97g/t Au from 45.7m incl 41.1m @1.72g/t Au from 59.4m) of which were the most significant downhole widths of mineralization thus far.
2. Test the validity of historical workings to the West of the ET.
3. Infill locations of which the ET needs more information.
4. Expand the ET to the North.
Felix is using on site lithological interpretation (logging), geochemical data from handheld XRF to facilitate “near real time” understanding of mineralized zones to optimize drill hole completion and prioritization of upcoming drill holes within the Exploration Target drill area.
The program is expected to take five weeks to complete by early July.
For further information please visit: https://www.felixgold.com.au/
