Jan 24 2011
Fire River Gold Corp. (TSX-V: FAU; OTCQX: FVGCF; FSE: FWR) has announced results obtained from the 2010/2011 28,000 metre drill program at the Nixon Fork Gold Mine situated in Alaska's Tintina Gold Belt.
The Company has received assay results of holes 10 through 25 (N10U-010 - N10U-025) from the 3300, 3500, and 3510 Zones.
New significant intercepts include N10U-024 returning grades of 160.5 g/t (4.68 opt) gold over 2.8 m (9.1 ft) and 31.4 g/t (0.92 opt) gold over 1.0 m (3.3 ft) in hole N10U-016. The widths of the intercepts are approximate to the true width of the mineralized intercept.
This phase of the underground drill program commenced on the 3300 Zone on the 300 level. The Company is once again encouraged with the results from the 2010 drill program, because it is exhibiting the potential to provide additional resources to the mill.
The Company has purchased a second underground diamond drill. The two drills are working together to define near term production targets in the upper portion of the mine. Later, the Company plans to have one drill focus on ore definition for production and the second diamond drill for drilling exploration targets.
Nixon Fork Gold Mine
The Nixon Fork Gold Mine was acquired in September 2009. From 1995 - 2007, the project produced approximately 175,000 ounces of gold at an average grade of 39 grams per ton (1.14 opt). The mining and processing facilities at Nixon Fork are permitted and bonded. The deposit is a gold-rich copper silver skarn typical of other skarn systems found throughout the world. At Nixon Fork, the higher grades are found in steeply plunging pipe-like bodies which are oxidized to depths of up to 350 meters below the surface. Oxidization of the system has resulted both in secondary copper and gold, with high grades and a "nuggety" distribution.
The Qualified Person for this news release is Richard Goodwin, P.Eng., Vice President of Mining for Fire River Gold.
Source: Fire River Gold Corp.