The Conversation (2)
Northern Freegold Resources Ltd. (TSXV:NFR,OTCQX:NFRGF,FWB:8N6) filed the technical report on the resource estimate for the Freefold Mountain Project, which includes a newly defined Inferred Resource of 101 million tonnes of mineralized material containing 1.1 million ounces gold, 10.2 million ounces silver, 287 million pounds of copper, and 90 million pounds of molybdenum grading 0.34 g/t gold, 3.14 g/t silver, 0.13% copper and 0.04% molybdenum using a gold equivalent cut-off grade of 0.5 grams per tonne — equating to a total of 3.7 million gold equivalent ounces at a grade of 1.1 g/t AuEq
As quoted in the press release:
Highlights:
- Newly defined Inferred Resource of 101 million tonnes of mineralized material containing 1.1 million ounces gold, 10.2 million ounces silver, 287 million pounds of copper, and 90 million pounds of molybdenum grading 0.34 g/t gold, 3.14 g/t silver, 0.13% copper and 0.04% molybdenum using a gold equivalent* (“AuEq”) cut-off grade of 0.5 grams per tonne (“g/t”)
- This equates to a total of 3.7 million gold equivalent ounces at a grade of 1.1 g/t AuEq
- The Revenue Zone deposit remains open laterally and at depth, and additional drilling has the potential to significantly expand the resource base
- This new resource at the Revenue Zone, is adjacent to the Company’s existing Nucleus Deposit, and may form part of a much larger district scale gold-copper porphyry system on the road accessible Freegold Mountain Project
Northern Freegold President & CEO, John Burges, said:
“We are delighted with this initial resource at Revenue and being able to add a second major deposit to the Freegold project. The addition of 3.7 million ounce gold equivalent (101 million tonnes) significantly increases our existing resource base and more than doubles the tonnage. We are pleased at the recognition that we can greatly increase the resource through further drilling. We plan to pursue further growth here through our 2012 exploration program. The metallurgical testing that we are currently undertaking on Revenue and Nucleus composite samples will also provide us with important data to assist us in demonstrating the economics of the project.”
Click here to read the Northern Freegold Resources (TSXV:NFR) press release
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