VANCOUVER, Feb. 28, 2013 /CNW/ - Fire River Gold Corp. (TSXV: FAU),
(OTCQX: FVGCF), (FSE: FWR) (the "Company" or "Fire River") is pleased
to announce results from its November and December 2012 underground
diamond drilling program (Figure 1 and 2) at its wholly owned Nixon
Fork Gold Project in Alaska. Fire River completed 27 underground
diamond drill holes totalling 1422 metres targeting the 3550 ore zone
in the Crystal Mine. Drilling has delineated thick intervals of
high-grade gold mineralization as well as substantial zones of very
high grade gold.
Drilling Highlights include:
-
6.36 metres grading 7.86 g/t gold in drill hole N12U-108
-
5.35 metres grading 53.98 g/t gold in drill hole N12U-123
-
4.28 metres grading 18.80 g/t gold in drill hole N12U-128
-
3.43 metres grading 21.10 g/t gold in drill hole N12U-130
including 1.10 metres grading 48.00 g/t gold
-
3.35 metres grading 57.17 g/t gold in drill hole N12U-114
including 1.93 metres grading 99.00 g/t gold
http://www.firerivergold.com/i/misc/FAU280213p1.jpg
Figure 1. Schematic long section showing the Mystery and Crystal mine
area at Nixon Fork. The drill results reported herein come from zone 1
in the Crystal Mine.
The Company is currently operating one drill continuously at the Crystal
Mine. The primary focus of this drilling to define additional resources
in the 3550 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 mine scheduling going forward. A complete summary of
significant drill results from the November and December 2012
underground drilling program at the Crystal Mine is shown below.
Table 1. Significant drill intercepts from underground drilling of the
3550 zone in the Crystal Mine. NOTE: Due to the nature of the ore
deposit, composed predominantly of oxide and carbonate minerals,
recovery of the drill core can be poor.
|
Drill Hole
|
From
(metres)
|
To
(metres)
|
Width
(metres)
|
Gold
(g/t)
|
Silver
(g/t)
|
Copper
(%)
|
|
N12U-106
|
29.87
|
31.39
|
1.52
|
4.37
|
12.00
|
0.57
|
|
|
31.39
|
33.13
|
1.741 |
63.00
|
238.00
|
7.38
|
|
|
33.13
|
35.29
|
2.162 |
1.19
|
6.00
|
0.28
|
|
|
35.29
|
37.19
|
1.902 |
4.76
|
52.00
|
2.07
|
|
|
43.59
|
44.81
|
1.22
|
3.37
|
5.00
|
0.14
|
|
N12U-107
|
40.54
|
42.06
|
1.52
|
5.62
|
4.00
|
0.30
|
|
N12U-108
|
25.30
|
31.66
|
6.36
|
7.86
|
35.58
|
1.67
|
|
Including
|
26.82
|
28.35
|
1.53
|
10.40
|
23.00
|
1.55
|
|
Including
|
29.87
|
31.66
|
1.79
|
13.45
|
66.00
|
2.62
|
|
N12U-112
|
28.65
|
31.70
|
3.05
|
24.38
|
66.11
|
3.70
|
|
N12U-114
|
21.95
|
25.30
|
3.353 |
57.17
|
134.93
|
4.82
|
|
Including
|
21.95
|
23.88
|
1.93
|
99.00
|
232.00
|
8.11
|
|
|
29.03
|
29.99
|
0.964 |
5.37
|
10.00
|
0.56
|
|
|
34.44
|
34.77
|
0.33
|
5.92
|
10.00
|
0.82
|
|
|
36.75
|
37.49
|
0.74
|
4.43
|
11.00
|
1.03
|
|
N12U-115
|
26.02
|
27.55
|
1.53
|
5.30
|
6.00
|
0.32
|
|
N12U-118
|
48.66
|
49.38
|
0.72
|
41.60
|
18.00
|
0.72
|
|
N12U-122
|
25.60
|
26.82
|
1.22
|
7.53
|
15.00
|
1.26
|
|
|
35.57
|
37.49
|
1.925 |
3.96
|
13.00
|
0.45
|
|
|
39.01
|
40.54
|
1.53
|
12.90
|
18.00
|
0.51
|
|
|
42.06
|
43.59
|
1.53
|
7.27
|
4.00
|
0.41
|
|
|
46.63
|
48.16
|
1.53
|
51.20
|
44.00
|
4.59
|
|
N12U-123
|
23.50
|
28.85
|
5.356 |
53.98
|
78.26
|
3.95
|
|
N12U-128
|
22.06
|
26.34
|
4.287 |
18.80
|
53.57
|
2.09
|
|
N12U-129
|
22.25
|
23.77
|
1.52
|
19.15
|
59.00
|
2.23
|
|
N12U-130
|
39.01
|
42.44
|
3.438 |
21.10
|
66.42
|
2.27
|
|
Including
|
40.64
|
41.74
|
1.10
|
48.00
|
152.00
|
5.12
|
|
|
51.24
|
51.82
|
0.589 |
11.95
|
6.00
|
1.56
|
NOTE: As a rough estimate, the true thickness of the above intercepts
is approximately 70% of reported thickness. Drill holes not included
did not intercept significant gold mineralization.
|
1 Recovery is 65% between 31.39 to 32.92. 2 Recovery is 73% between
34.44 to 35.66. 3 Recovery is 79% between 23.77 to 24.54. 4 Recovery
is 71% between 29.87 to 31.09. 5 Recovery is 76% between 34.44 to
35.97, and 79% between 35.97 to 36.73. 6 Recovery is 78% between
23.01 to 23.77. 7 Recovery is 76% between 21.79 and 22.25.
8 Recovery is 62% between 42.06 to 43.59. 9 Interval has 74% recovery.
|
http://www.firerivergold.com/i/misc/FAU280213p2.jpg
Figure 2. Image of the 270-51 drift showing the location of the drill
holes. Large diameter rods around the drill holes show the location of
significant gold intercepts.
Blane Wilson, President and CEO of Fire River, commented: "We are very pleased with these underground drilling results in the
Crystal Mine as it continues to define and identify expansion
opportunities into the new 3550 ore zone. We targeted ore zones
adjacent to current mine workings and these results will support
optimization of mine planning to potentially provide additional feed
for the mill."
Qualified Person and Quality Control
All drill intercepts and corresponding assay values reported in this
press 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 Fairbanks, AK where it is 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 within 2.5 percentile of
the required value.
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.
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.
