22 November 2023
The time between now and Felix Gold’s (ASX: FXG) maiden resource estimate due in the fourth quarter of this year is hastily narrowing, and a raft of assays continue to flood in with exciting indications as to what it might hold.
The time between now and Felix Gold’s (ASX: FXG) maiden resource estimate due in the fourth quarter of this year is hastily narrowing, and a raft of assays continue to flood in with interesting indications as to what it might hold.
The Alaskan gold explorer put out more drill results on Monday, which included 54.9m @ 1.80g/t Au from 1.5m, including 30.5m @3.02g/t Au from 7.6m and 4.6m @ 7.10g/t Au from 19.8m. The company also intercepted 53.3m @ 1.08g/t Au from 30.5m including 10.7m @ 2.55g/t Au from 44.2m.
Both the grade and the near surface nature of the mineralisation indicate a potential low cost open-pitable resource. Additionally, the identification of further high-grade north-east trending zones continues to establish the trend Felix has been exploring, while extending it in width and length.
Felix is also excited to continue receiving data that is confirming their hypothesis of a large gold-antimony system in NW Array. These same drill cores came with 6.1m @ >5% Sb from 30.5m as well as 1.5m @ >5% Sb from 53.3m, respectively.
Following a major discovery in 2022, Felix is targeting a Maiden Mineral Resource Estimate (MRE) for its NW Array target, beginning in the Southern Zone, in Q4 of this year. Felix has been drilling out the project for a few months and also recently intercepted 100.5m @ 1.14g/t gold from 21.3m, including 47m @ 1.7g/t gold from 38.1m.
The initial target for the Southern Zone currently stands at 300-800koz, while the entire NW Array project could host up to 3.6Moz. However, this does not account for any antimony – which is a consideration investors need to factor in to their analysis of Felix, given the critical minerals’ high ranking place on the US Government’s priority list.
Felix has repeatedly observed high-grade antimony – one of the world’s most elusive critical minerals – across NW Array. The prospect of antimony is especially noteworthy because the Scrafford Shear Antimony Mine, which is on Felix’s tenement, was historically the second largest antimony mine in Alaska.
The company initially had rock chip samples, outcroppings and XRF tests – but now they have reliable assays. The potential for an antimony by-product continues to unfold as the higher-grade gold intersections continue to show an association with high grade stibnite, the primary ore of antimony.
Felix neighbours the gigantic Fort Knox mine, whose mill is only operating at 55% capacity. The 16Mt operation is processing ore at a head grade of between 0.43g/t-0.65g/t Au – and a higher grade source of near surface ore would be welcomed by its owner Kinross, who produced almost 300koz from the Alaskan enterprise in 2022.
Felix Gold will be holding an investor briefing with MD and CEO Anthony Reilly on Friday, 28th July at 12pm (AEST) to discuss the antimony assay results and provide a broader company update. Click here to book in or request the replay.
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