Nixon Fork assays confirmed

High-grade gold assays from the Nixon Fork property in west-central Alaska have been confirmed by an umpire.

Property-owner Consolidated Nevada Goldfields (TSE) released results in early September for Hole 93-22, which returned a 29.3-ft. intersection from 279.4 ft. to 308.7 ft. grading 16.3 oz. gold per ton.

The original assaying was done at Chemex in Vancouver whereas the check assaying was performed by Bondar-Clegg in Vancouver. Stewart Wallis, project geologist, noted that none of the values within the intersection were cut. He added that a feasibility study now under way will address the need to cut values in the hole.

This year’s drilling consisted of infill holes testing a string of separate lenses along the edge of an intrusive. Wallis said the lenses vary in attitude from steeply dipping to flat-lying.

Previous estimates put proven and probable minable reserves at 106,000 tons grading 1.45 oz. gold based on a cutoff of 0.3 oz. gold and a minimum mining width of five feet.

Hole 93-22 constitutes the discovery of a new lens called the Endoskarn Extension. The drilling intersected the zone over 150 ft. of strike. Hole 93-08, drilled 50 ft. southwest of 93-22, intersected six feet grading 0.64 oz. gold from 337 ft. to 343 ft., and five feet from 378 ft. to 383 ft. grading 1.53 oz. gold.

Hole 93-09 intersected the Endoskarn Extension a further 50 ft. to the southwest, returning five feet from 286.7 ft. to 291.7 ft. Grade: 1.90 oz. gold.

Feasibility work could result in a construction start as early as next spring. Consolidated Nevada plans to conduct further testing on the Endoskarn Extension next year.