Felix Gold Limited reports significant gold assay results from its NW Array prospect in Alaska, confirming extensive gold mineralisation alongside high-grade antimony. This comes as gold prices soar past US$5,000/oz, highlighting the project's strategic potential near Kinross Gold's Fort Knox mill.
- Broad gold mineralisation confirmed at NW Array prospect
- High-grade gold intersections up to 3.90 g/t over 29m
- Project located 30km from Kinross Gold's Fort Knox mill
- Gold prices reach historic highs above US$5,000/oz
- Dual commodity focus – gold exploration and antimony production
Strategic Gold Discoveries at Treasure Creek
Felix Gold Limited (ASX – FXG) has announced compelling drilling results from its NW Array prospect within the Treasure Creek project in Alaska. The latest assays reveal broad zones of gold mineralisation, with standout intersections such as 47.43 metres at 2.45 grams per tonne gold and 29.41 metres at 3.90 grams per tonne gold. These findings reinforce the presence of a significant mineralised system within a structural corridor that also hosts high-grade antimony mineralisation.
Located just 30 kilometres by road from Kinross Gold's Fort Knox mill; a Tier 1 processing facility actively seeking additional ore sources; the NW Array prospect benefits from proximity to established infrastructure and a skilled workforce. This strategic location enhances the potential for toll treatment arrangements, which could provide a pathway to monetise the gold mineralisation alongside Felix Gold’s antimony ambitions.
Timing Meets Opportunity as Gold Hits New Heights
The timing of these results is particularly fortuitous, coinciding with gold prices reaching unprecedented levels above US$5,000 per ounce. Felix Gold’s Executive Director, Joseph Webb, emphasised this alignment, noting that the company’s 831,000 ounces of JORC gold resources and extensive landholding in the Fairbanks Gold Mining District position it well to capitalise on the market environment.
Moreover, Kinross Gold’s strategy of sourcing third-party ore to feed its Fort Knox mill; already demonstrated by trucking ore from 250 miles away; underscores the potential for Felix Gold’s NW Array to become a nearby and cost-effective ore supplier. This proximity advantage could translate into a competitive edge as the company advances its exploration and development plans.
Dual Commodity Strategy – Gold and Antimony
Felix Gold’s story extends beyond gold. The company is simultaneously progressing a near-term antimony metal production program, aiming to establish the first fully integrated U.S. mine-to-metal operation in over three decades. Antimony, a critical mineral for defence and energy security, is currently dominated by Chinese supply, which has been restricted by export bans.
Interestingly, the gold mineralisation forms broader halos around the high-grade antimony corridors, creating a geological synergy that could enhance project economics. Material that might be waste in an antimony operation could serve as valuable mill feed for gold processing, effectively leveraging two commodities from one platform.
Ongoing Exploration and Future Prospects
The mineralised system at NW Array remains open along strike and at depth, with ongoing drilling aimed at better defining the high-grade zones, particularly the ‘black breccia’ fault structure. Felix Gold continues to receive assay results regularly and plans further market updates as exploration advances.
While the economic viability of antimony production is still under assessment and no JORC-compliant economic studies have been completed, the company’s integrated approach and strategic positioning in a premier gold district with established infrastructure provide a promising development pathway.
Bottom Line?
Felix Gold’s dual focus on gold and antimony, combined with record gold prices and strategic location, sets the stage for a potentially transformative chapter in Alaska’s mining landscape.
Questions in the middle?
- Will Felix Gold secure toll treatment agreements with Kinross Gold for NW Array ore?
- How will ongoing drilling refine the resource estimate and economic potential of the gold-antimony system?
- What are the timelines and regulatory hurdles for advancing antimony metal production to commercial scale?