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Northern Freegold Resources Ltd (2)
Symbol NFR
Shares Issued 39,742,837
Close 2016-09-27 C$ 0.205
Market Cap C$ 8,147,282
Recent Sedar Documents

Northern Freegold completes Freegold Mtn exploration

2016-09-27 16:07 ET - News Release

Mr. Paul Reynolds reports

NORTHERN FREEGOLD COMPLETES 2016 EXPLORATION AT FREEGOLD MOUNTAIN, YUKON

Northern Freegold Resources Ltd. has completed the 2016 exploration program at Freegold Mountain, Yukon.

Tinta Hill deposit -- magnetic and VLF-EM geophysical survey and geochemical soil survey

Northern Freegold has completed a 70-line-kilometre magnetic and VLF-EM geophysical survey, as well as a 10-line-kilometre (approximately) multielement geochemical soil survey at the Tinta Hill deposit. Geophysical data are being interpreted by the company's geophysical consultants, and soil samples have been delivered to the lab for analysis. Results will be released once they are received and interpreted by the company.

The Tinta Hill deposit is a structurally controlled, polymetallic low-to-intermediate sulphidation epithermal system.

The main Tinta vein hosted deposit has been the dominant target for exploration since its discovery in 1930. There are also three other known veins in the immediate area that remain underexplored and warrant follow-up work. The 2016 field program will provide additional geophysical and geochemical coverage outside of the main deposit with the objective of defining trench and/or diamond drill targets. The Tinta Hill exploration program is being financed in part by a Yukon mineral exploration program (YMEP) grant.

Nucleus and Revenue deposit -- define paragenetic sequence to better target mineralization

Exploration crews spent roughly three weeks in the field conducting geological mapping and relogging select drill core. While the field portion of this work is complete, lab work is continuing. Results from this work will be reported later this fall when completed. The primary objective of this work is to define a paragenetic sequence to better target the porphyry-style mineralization. This information will be utilized to guide future drill programs, which will target higher-grade mineralized zones.

Freegold Mountain -- a 198-square-kilometre project with road access

The Freegold Mountain project is located within the Dawson range and covers an area in excess of 198 square kilometres (75 square miles). The project has significant infrastructure advantages and is located only 200 kilometres northwest of Whitehorse, the capital and industrial centre of Yukon. It is road accessible from Whitehorse, along the main paved all-weather Klondike Highway, then along the 70-kilometre government maintained Freegold Road from Carmacks. This road currently terminates near the company's Revenue camp, providing road access to the Nucleus, Revenue and Tinta deposits, as well as most of the mineralized showings on the property. Commercial electrical grid power (138 kilovolts) is available at the Carmacks and Stewart Crossing with a spur electrical line extending into the Minto copper mine 30 kilometres north of the Freegold Mountain project.

Three significant mineral deposits at Freegold Mountain

The Freegold Mountain property covers a fertile and very prospective segment of the Big Creek fault zone and is endowed with three significant mineral deposits and numerous showings, which represent porphyry-epithermal systems related to mid- and late Cretaceous magmatic events. The late Cretaceous event, defined by Allan et al., 2013, and Bineli, 2011, has been recognized on the Freegold Mountain property. This event is responsible for the emplacement of the Stoddart (porphyry) prospect and both the Revenue (porphyry) and Nucleus (porphyry-skarn-epithermal) deposits, as well as numerous other showings, including the recently discovered Irene (epithermal) prospect. These porphyry-hydrothermal systems define an 8.0-kilometre northwest-trending fertile exploration corridor within the Big Creek fault zone. This work was supported by a contribution from the Yukon mineral exploration program.

NI 43-101 disclosure

Paul Reynolds, BSc, PGeo, president of Northern Freegold Resources, is the qualified person, as defined by NI 43-101, for the Freegold Mountain project and has reviewed and approved the technical information in this release.

Burro Creek property, Arizona

Northern Freegold announces that it has dropped the option on the Burro Creek property to better focus its efforts on the Freegold Mountain project.

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