Northern Freegold Announces 2014 Exploration at Freegold Mountain Project, Yukon
June 19 2014 - 11:36AM
Access Wire
Vancouver, BC / ACCESSWIRE / June 19, 2014 /
Northern Freegold Resources Ltd. (NFR: TSX-V, NFRGF: OTCQX)
(the "Company") is pleased to announce that the 2014 exploration
program at the Freegold Mountain project ("Freegold") is underway.
The Freegold project is 100% owned by Northern Freegold and is road
accessible, located 70 km west of Carmacks, Yukon, in the Dawson
Range.
The 2014 exploration program will
build on the 2013 discovery of the Irene
showing and will consist of trench mapping and sampling,
prospecting and ground magnetic and electromagnetic surveys.
The 2013 exploration program was
successful in locating a significant new mineral occurrence which
has been named the "Irene". Located 1.2 km north of the Stoddart
prospect and 4.6 km east of the Revenue Deposit, the Irene
occurrence is comprised of structurally controlled epithermal gold
mineralization. Bedrock sampling confirmed gold mineralization over
an area measuring 6.5 metres true width by 80.0 metres along strike
with gold assays from trench TR13-021 returning 7.11 gpt Au over
3.0 metres including 11.35 gpt over 1.0 metre (see press releases
dated November 6, 2013 and February 27, 2014). The zone remains
open in all directions with bedrock exposure in the immediate area
encumbered by extensive gravel cover. This new discovery highlights
the potential for high-grade gold mineralization at surface, in an
under-explored area of the property.
The Freegold Mountain project
is located within the Dawson Range and covers a fertile and very
prospective portion of the Big Creek fault Zone and is endowed with
two NI 43-101 mineral deposits, the Nucleus Au-Ag-Cu deposit and
the Revenue Cu-Au-Mo-Ag deposit, as well as numerous gold showings
which represent porphyry-hydrothermal systems related to Mid and
Late Cretaceous magmatic events. It is believed that the
Nucleus Deposit and the Revenue Deposit along with the Stoddart
Zone are all part of a large scale gold-rich hydrothermal system,
which extends in a north-westerly direction for more than six
kilometres.
The project has significant
infrastructure advantages. It is located approximately 200
kilometres northwest of Yukon's capital and industrial centre in
Whitehorse. It is road accessible from Whitehorse along the main
Klondike Highway, a paved all-weather highway running from
Whitehorse to Dawson City, and onwards along a 70 kilometre
government maintained road from Carmacks to the project.
The 2014 exploration program is
designed and managed by Mike McCuaig, P. Geo., of TerraLogic
Exploration Inc., of Cranbrook, BC.
Paul Reynolds, P. Geo., Vice
President Exploration for Northern Freegold Resources Ltd., is the
Qualified Person, as defined by NI 43-101, for the Freegold
Mountain Project and has reviewed the technical information in this
release.
Tad/Toro
The Company would also like to
announce that Dawson Gold Corp. has dropped its option to gain 100%
interest in the Tad/Toro property,
Yukon. As a result, Northern Freegold retains 100% interest in this
project. The Tad/Toro property is located on Hayes Creek
approximately 100 kilometres northwest of Carmacks. The property is
situated along the Big Creek Fault Zone and is prospective for
porphyry copper-gold mineralization. All claims forming the
property are valid until 2019 or later.
About Northern
Freegold
Northern Freegold Resources Ltd.
(TSX.V: NFR; OTCQX: NFRGF) trades in Canada on the TSX Venture
Exchange under the symbol "NFR" and in the United States on the
OTCQX under the symbol "NFRGF". Northern Freegold is a growth
oriented Canadian-based precious metals exploration and development
company. Northern Freegold is focused on creating value through the
advancement of the district scale Freegold Mountain project and the
Burro Creek gold and silver property in Arizona. For maps and more
information, please visit our website www.northernfreegold.com.
On
behalf of the Board of Directors
Signed "John
Burges"
John
Burges, President and CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Note Regarding
Forward-Looking Statements The information in this press release includes
certain "forward-looking statements". All statements, other than
statements of historical fact, included herein including, without
limitation, plans for and intentions with respect to the company's
properties, strategic alternatives, quantity of resources or
reserves, timing of permitting, construction and production and
other milestones, are forward looking statements. Statements
concerning Mineral Reserves and Mineral Resources are also
forward-looking statements in that they reflect an assessment,
based on certain assumptions, of the mineralization that would be
encountered and mining results if the project were developed and
mined in the manner described. Forward-looking statements involve
various risks and uncertainties. There can be no assurance that
such statements will prove to be accurate, and actual results and
future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from NFR's expectations include the
uncertainties involving the need for additional financing to
explore and develop properties and availability of financing in the
debt and capital markets; uncertainties involved in the
interpretation of drilling results and geological testing and the
estimation of reserves and resources; the need for cooperation of
government agencies and First Nations groups in the exploration,
and development of properties; and the need to obtain permits and
governmental approval. NFR's forward looking statements reflect the
beliefs, opinions and projections of management on the date the
statements are made. NFR assumes no obligation to update the
forward looking statements if management's beliefs, opinions,
projections, or other factors should change.
SOURCE: Northern Freegold Resources
Ltd.
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