Northern Freegold Resources Ltd. (CVE:NFR) reports that it has identified initial target deposit of the historic and 2010 drill hole data from the Revenue Zone gold-rich porphyry system.
The press release is quoted as saying:
The target deposit extends from surface to a depth of 250 m and is located adjacent to the Nucleus Deposit (see Figure 1). Management believes the Revenue target deposit and the Nucleus deposit are part of a large scale gold rich porphyry system. Indicated resources of 1.1 million ounces gold, 1.4 million ounces silver and 67.8 million lbs copper (1.4 Moz AuEq)1 and inferred resources of 0.63 million ounces gold, 1.3 million ounces silver and 62.0 million lbs of copper (0.9 Moz AuEq)2 were recently announced for the Nucleus deposit (see news release Feb. 22, 2011).
Northern Freegold’s President and CEO, Susan Craig says:
“The 2010 program at Freegold Mountain demonstrates the potential for a multi-million ounce system encompassing the Nucleus Deposit and the Revenue Zone.” “The scale of the anomaly from the Titan Survey, combined with the resource in the Nucleus Deposit and the target deposit in the Revenue indicate an open ended large scale gold rich system.”