. 125.5g/t (3.66 opt) gold over 6.0 m ( 19.7ft) in hole
N10U-041
- including 189.0 g/t (5.51 opt) gold over 3.5 m
(11.5 ft)
. 76.2 g/t (2.22 opt) gold over 4.1 m (13.5ft) in hole N10U-042
- including 245.0 g/t (7.15 opt) over 1.2 m (3.9
ft)
. 28,000 metre drill program on going
with two company-operated drills
March 21, 2011 Vancouver, Canada -
Fire River Gold Corp (TSXV: FAU) (OTCQX: FVGCF) (FSE: FWR) ("FAU" or the
"Company") is pleased to announce results obtained
from the 2010 28,000 metre drill
program at the Nixon Fork Gold Mine situated in Alaska's Tintina Gold Belt. The Company has received
assay results of two holes (N10U-042 - N10U-042) from the lower
extension 3000 and 3300 Zones.
New significant intercepts include
N10U-041 returning grades of 125.5g/t (3.66 opt) gold
over 6.0 m (19.7 ft) in hole N10U-041 including 189.0 g/t
(5.51 opt) gold over 3.5 m (11.5 ft) and intercept N10U-042
returning grades of 76.2 g/t (2.22 opt) gold over 4.1 m
(13.5 ft), including 245.0 g/t (7.15 opt) over 1.2 m
(3.9 ft) at lower extension 3000 Zone. A complete list of
significant intercepts is provided in Table 1. The
widths of the intercepts are approximate to the true width of
the mineralized intercept.
The Company is once again encouraged
with the results from the 2010 drill program, because it is
exhibiting the potential to provide additional resources to the
mill. Drill results are being used to guide the six-month
operating plan for the mine start up. Drill production has
risen steadily over the course of the project. Both underground
drills are now fully staffed, producing 900 m of drilling per
week. The 28,000 m drill program is approximately 46%, with
over 13,000m drilled to-date.
Table
1. Results from Holes N10U-041 and N10U-042
Hole
|
From
|
To
|
Length
|
Length
|
Au
|
Au
|
Ag
|
Ag
|
Cu
|
Number
|
(metres)
|
(metres)
|
(metres)
|
(feet)
|
(gpt)
|
(opt)
|
(gpt)
|
(opt)
|
(%)
|
Location 3300 Zone
|
|
|
|
|
|
|
|
N10U-041
|
31.7
|
37.7
|
6.0
|
19.7
|
125.5
|
3.66
|
45.4
|
1.32
|
3.03
|
Including
|
34.1
|
37.7
|
3.5
|
11.5
|
189.0
|
5.51
|
58.0
|
1.69
|
3.87
|
N10U-042
|
32.2
|
36.3
|
4.1
|
13.5
|
76.2
|
2.22
|
17.3
|
0.50
|
0.73
|
Including
|
33.2
|
34.4
|
1.2
|
3.9
|
245.0
|
7.15
|
24.0
|
0.70
|
1.15
|
Quality Assurance and Quality Control
(QA/QC)
Rigorous controls are in place to
ensure the traceability of samples and their results. Upon
delivery core is prepped and logged with intervals of interest
and/or mineralization marked for sampling. The core is
subsequently photographed prior to cutting. Half the core is
retained for future reference and the remaining half placed in
double poly bags and sealed for shipment. Samples are
delivered to ALS Chemex in Fairbanks,
AK where they are dried, crushed, and representative splits are
transported to ALS Chemex labs in
either Reno, NV or Vancouver, BC for assay. ALS Chemex 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. Gold assays results greater than
5 ppm are
automatically re-submitted for screen metallic analysis. QA/QC
is verified using external standards, blanks, and duplicates
with 13% of all samples submitted being QA/QC check samples.
Results are examined ensuring control samples fall within 2.5
standard deviations of certified values. Failed results are
re-analyzed by the lab and/or additional samples from the
remaining core are submitted for analysis.
Nixon Fork Gold Mine
The
Nixon Fork Gold Mine was acquired in September 2009. From 1995
- 2007, the project produced approximately 175,000 ounces of
gold at an average grade of 39 grams per ton (1.14 opt). The
mining and processing facilities at Nixon Fork are permitted
and bonded. The deposit is a gold-rich copper silver skarn typical of other skarn
systems found throughout the world. At Nixon Fork, the higher
grades are found in steeply plunging pipe-like bodies which are
oxidized to depths of up to 350 meters below the surface.
Oxidization of the system has resulted both in secondary copper
and gold, with high grades and a "nuggety"
distribution.
The
Qualified Person for this news release is Richard Goodwin, P.Eng, President
& C.O.O for Fire River Gold.
About
Fire River Gold Corp.
Fire
River Gold Corp. is a near term production company with an
experienced technical team focused on bringing its flagship
project, the Nixon Fork
Gold Mine, back into production in 2011. The Nixon Fork
Gold Mine is a permitted and bonded mine which include a ~200 tpd processing plant with a gravity gold
circuit, sulphide flotation circuit and a gold recovery system
(CIL circuit) that is scheduled to be completed by Summer 2011.
The mine also includes a fleet of surface & underground
mining vehicles, a self-contained power plant, maintenance
facilities, drilling equipment, an 85 person camp, office
facilities and a 1.2 km long landing strip.
Fire River Gold Corp is a member of
the International Metals Group.
(www.internationalmetalsgroup.com)
On behalf of the
Board of Directors, I look forward to keeping you updated with
our corporate developments.
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