VANCOUVER,
Jan. 8, 2013 /CNW/ - Fire River Gold
Corp. (TSXV: FAU), (OTCQX: FVGCF), (FSE: FWR) (the "Company", "Fire
River") is pleased to announce results from its 2012 underground
diamond drilling program (Figure 1 and 2) at its wholly owned Nixon
Fork Gold Project in Alaska.
As of 07 November, Fire River completed 103 underground diamond
drill holes totalling 9781 metres targeting resource expansion at
the Crystal Mine. Drilling has delineated thick intervals of high
grade gold mineralization as well as substantial zones of very high
grade gold. Each of these distinct styles of gold
mineralization has the potential to significantly impact mine
planning and the production profile at Nixon Fork.
Some of the wider gold intercepts
include:
- 9.14 metres grading 9.76 g/t gold in drill hole N12U-057
- 4.13 metres grading 29.79 g/t gold in drill hole N12U-058
- 3.73 metres grading 32.86 g/t gold in drill hole N12U-069
recovery issue with this intercept (includes 75%)
These thickness and high grades can rapidly add
ounces to the project resource base and allow for more efficient
mining and sequencing. Areas of broad gold mineralization, as
highlighted above, contribute the bulk of the tonnage in the
deposit and mill feed. Zones of very high grade gold,
highlighted below, can be integrated into the overall mine plan
allowing for a consistent high grade mill feed by blending the two
rock types.
Additional Drill Highlights include:
- 1.10 metres grading 214.00 g/t gold in drill hole N12U-045
- 1.55 metres grading 186.18 g/t gold in drill hole N12U-056
- 3.34 metres grading 219.13 g/t gold in drill hole N12U-057
recovery issue with this intercept (includes 73% recovery)
- 1.50 metres grading 1120.00 g/t gold in drill hole
N12U-057
The Company is currently operating one drill
continuously at the Crystal Mine. The primary focus of the drilling
program is expanding known resources surrounding the 3300 ore body,
including filling in gaps in known mineralization and extending
open zones along strike and dip (Figure 2). This will support a
more thorough understanding of the geology of this deposit and fine
tune exploration plans and mine scheduling going forward. A
complete summary of significant drill results from the 2012
underground drilling program at the Crystal Mine are shown in Table
1.
Table 1. Significant drill intercepts from
underground drilling assay results at the Crystal Mine.
Drill Hole |
From
(metres) |
To
(metres) |
Width
(metres) |
Gold
(g/t) |
Silver
(g/t) * |
Copper
(%) |
N12U-021 |
109.12 |
110.12 |
1.00 |
2.74 |
165.0 |
0.13 |
N12U-031 |
32.25 |
33.25 |
1.001 |
3.27 |
141.0 |
0.08 |
N12U-032 |
29.87 |
31.05 |
1.182 |
5.91 |
178.0 |
0.06 |
N12U-037 |
101.06 |
101.81 |
0.753 |
8.65 |
569 |
0.01 |
|
103.33 |
105.07 |
1.744 |
8.77 |
482.8 |
0.08 |
Including: |
103.33 |
104.30 |
0.97 |
15.35 |
566.0 |
0.06 |
N12U-039 |
45.11 |
47.55 |
2.44 |
2.67 |
< 1.0 |
0.06 |
N12U-040 |
17.95 |
18.90 |
0.95 |
2.19 |
2.0 |
0.03 |
|
42.06 |
49.52 |
7.46 |
5.85 |
3.0 |
0.17 |
|
75.59 |
77.11 |
1.52 |
4.18 |
2.0 |
0.04 |
N12U-041 |
17.68 |
18.29 |
0.61 |
55.80 |
19.0 |
0.73 |
N12U-042 |
16.69 |
17.07 |
0.38 |
160.50 |
80.0 |
2.65 |
N12U-045 |
25.88 |
27.14 |
1.26 |
3.12 |
< 1.0 |
0.04 |
|
35.48 |
36.58 |
1.10 |
214.00 |
1.0 |
0.01 |
N12U-048 |
31.70 |
34.75 |
3.05 |
3.33 |
2.0 |
0.14 |
N12U-049 |
29.48 |
32.31 |
2.83 |
14.30 |
< 1.0 |
0.04 |
Including: |
29.48 |
30.84 |
1.36 |
26.20 |
< 1.0 |
0.01 |
|
55.15 |
55.40 |
0.25 |
105.00 |
6.0 |
3.43 |
|
61.24 |
62.74 |
1.50 |
3.11 |
< 1.0 |
0.01 |
N12U-051 |
17.94 |
19.51 |
1.575 |
7.98 |
< 1.0 |
0.15 |
Including: |
18.94 |
19.51 |
0.57 |
18.80 |
2.0 |
0.29 |
|
22.27 |
25.20 |
2.93 |
13.26 |
23.7 |
1.72 |
Including: |
22.27 |
24.10 |
1.83 |
19.55 |
38.0 |
2.75 |
|
53.01 |
56.08 |
3.07 |
5.36 |
1.2 |
0.13 |
Including: |
53.01 |
53.25 |
0.24 |
17.25 |
3.0 |
0.20 |
|
62.63 |
71.32 |
8.69 |
3.80 |
< 1.0 |
0.02 |
Including: |
68.78 |
69.78 |
1.00 |
9.75 |
< 1.0 |
0.01 |
N12U-052 |
19.81 |
20.13 |
0.32 |
3.64 |
5.0 |
0.24 |
N12U-056 |
17.98 |
18.52 |
0.546 |
106.00 |
55.0 |
6.13 |
|
26.90 |
28.45 |
1.55 |
186.18 |
51.6 |
3.89 |
|
32.72 |
34.58 |
1.86 |
13.01 |
3.9 |
0.32 |
Including: |
32.72 |
33.93 |
1.21 |
30.00 |
9.0 |
0.80 |
|
41.37 |
45.06 |
3.69 |
5.19 |
3.7 |
0.22 |
|
56.88 |
57.61 |
0.73 |
6.62 |
< 1.0 |
0.00 |
N12U-057 |
16.31 |
22.30 |
5.99 |
126.30 |
51.6 |
3.63 |
Including: |
17.46 |
20.80 |
3.34 |
219.13 |
89.7 |
6.17 |
|
26.21 |
27.71 |
1.50 |
1120.00 |
11.0 |
0.02 |
|
48.16 |
52.71 |
4.55 |
5.66 |
2.0 |
0.15 |
Including: |
49.66 |
51.21 |
1.55 |
10.15 |
3.0 |
0.17 |
|
63.40 |
72.54 |
9.14 |
9.76 |
< 1.0 |
0.02 |
Including: |
66.59 |
69.49 |
2.90 |
19.60 |
1.0 |
0.02 |
|
74.09 |
80.16 |
6.07 |
11.13 |
< 1.0 |
0.02 |
Including: |
75.02 |
77.81 |
2.79 |
19.08 |
1.0 |
0.02 |
N12U-058 |
48.60 |
52.73 |
4.13 |
29.79 |
1.5 |
0.04 |
Including: |
49.65 |
50.07 |
0.42 |
58.50 |
2.0 |
0.20 |
Including: |
51.42 |
52.73 |
1.31 |
71.00 |
4.0 |
0.01 |
N12U-062 |
17.68 |
18.59 |
0.917 |
6.60 |
3.0 |
0.15 |
N12U-069 |
24.08 |
27.81 |
3.738 |
32.86 |
1.8 |
0.06 |
Including: |
24.08 |
25.60 |
1.52 |
54.80 |
2.0 |
0.10 |
Including: |
26.29 |
27.81 |
1.52 |
25.50 |
2.0 |
0.01 |
|
49.99 |
52.12 |
2.13 |
5.40 |
2.0 |
0.09 |
|
75.89 |
77.42 |
1.53 |
10.15 |
1.0 |
0.04 |
N12U-070 |
15.09 |
15.54 |
0.459 |
57.30 |
29.0 |
5.34 |
N12U-073 |
57.61 |
60.66 |
3.0510 |
10.52 |
< 1.0 |
0.01 |
Including: |
59.13 |
60.66 |
1.5310 |
19.65 |
1.0 |
0.01 |
N12U-093 |
98.45 |
99.97 |
1.5211 |
7.86 |
3.5 |
0.11 |
Including |
98.45 |
99.20 |
0.75 |
9.15 |
4.0 |
0.14 |
Note: As a rough estimate, the true thickness of the above
intercepts is approximately 95%. Drill holes not
included did not intercept significant gold mineralization.* Silver
values reported as < 1.0 were below detectable limits.
1 Includes 0.61 meter void. 2
Interval has 77% recovery. 3 Interval has 40%
recovery. 4 Interval has 47% recovery.
5 Interval has 58% recovery. 6
Interval has 36% recovery 7 Interval has 66%
recovery. 8 Recovery is 75% between 24.08 to
25.60. 9 Recovery is 36% between 14.63 to
17.68 10 Interval has 82% recovery.
11 Interval has 73% recovery.
Blane Wilson,
President and CEO of Fire River, commented: We are very pleased
with these results and that Fire River Gold Corp's Nixon Fork Mine
exploration and development program is progressing well. We
continue to encounter encouraging signs through our surface and
underground in-fill drilling programs, as well as data that could
present a more favorable view of the orientation of
mineralization".
About Fire River Gold:
Fire River Gold Corp.'s flagship property is the
wholly owned Nixon Fork Gold Project located in the Tintina Gold
Belt, Central Alaska.
Operations at Nixon Fork recommenced in July
2011. Nixon Fork is a past producing mine with a high grade
production history, and a low capital requirement due to
pre-existing infrastructure. The mine operates year-round producing
both gold concentrate and doré bars. District scale
exploration potential provides additional upside for the
project.
All drill intercepts and corresponding assay
values reported in this news release, have been reviewed and
approved by David D. Adams, MS, BS,
CPG, P.Geo., who is a qualified person under the definitions
established by National Instrument 43-101. Drill core
at Nixon Fork is boxed and covered, at the drill rig and moved to
Nixon Fork's logging and sample preparation facilities by Fire
River personnel. The core is then split down the centre
using a typical table fed circular rock saw normally at one metre
intervals. One half of the core is sent for assay to ALS Minerals
in Anchorage, AK where they are
dried, crushed, and representative splits are transported to ALS
Minerals labs in either Reno, NV
or Vancouver, BC for assay, while
the other half is returned to the core box and stored at Nixon
Fork's sampling facility in a secure area. ALS Minerals
complies with the requirements for the International Standards ISO
9001:2000 and ISO 17025:1999. Analysis includes Fire Assay with
gravimetric finish for gold and ICP for 33 other elements.
ALS Minerals is at arm's length to Fire River. Nixon
Fork's QA/QC procedures include the regular use of blanks,
standards and duplicate samples, which constitutes 13% of the total
samples analyzed. Failed blanks and standards, along
with corresponding samples, are re-assayed with over 89% falling
with 2.5 percentile of the required value.
ON BEHALF OF THE BOARD OF DIRECTORS
FIRE RIVER GOLD CORP.
"Blane W. Wilson"
Blane W.
Wilson
President and CEO
Cautionary Statement Regarding Forward-Looking
Information
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. This news release
contains forward-looking statements regarding the business and
operations of Fire River Gold. In particular, statements regarding
use of proceeds and production targets in the upcoming years are
forward-looking statements. 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 Fire River's plans or expectations include
risks relating to the actual results of current exploration
activities, fluctuating gold prices, possibility of equipment
breakdowns and delays, exploration cost overruns, availability of
capital and financing, general economic, market or business
conditions, regulatory changes, timeliness of government or
regulatory approvals and other risks detailed herein and from time
to time in the filings made by Fire River with securities
regulators. Fire River expressly disclaims any intention or
obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise
except as otherwise required by applicable securities
legislation.
SOURCE Fire River Gold Corp.
Image with caption: "Figure 1. Schematic long section showing
the Mystery and Crystal mine area at Nixon Fork. The drill results
reported herein come from the Crystal Mine. (CNW Group/Fire River
Gold Corp.)". Image available at:
http://photos.newswire.ca/images/download/20130108_C4466_PHOTO_EN_22338.jpg
Image with caption: "Figure 2. Cross-section view of the Crystal
Mine, looking east, showing the locations of drill holes with
significant intercepts. Drilling from the 170 and 270 levels were
exploration holes designed to expand the resource, and drilling
from the 300 level was to broaden our knowledge of the 3300 ore
body between the 280 and 335 levels. (CNW Group/Fire River Gold
Corp.)". Image available at:
http://photos.newswire.ca/images/download/20130108_C4466_PHOTO_EN_22339.jpg