Uncertainty Remains as Felix Gold Assesses Economic Viability of Dual Commodities

Near-Surface Gold and Antimony Confirmed at NW Array

Felix Gold (ASX:FXG) has wrapped up its 2025 drilling campaign at the NW Array prospect, part of the Treasure Creek Project in Alaska’s Fairbanks Mining District, with a strong set of final assay results. The company confirmed multiple broad zones of near-surface gold mineralisation, highlighted by a standout intercept of 29.26 metres grading 2.16 g/t gold from just 13.4 metres depth, including a 21-metre section at 2.83 g/t Au. Alongside this, high-grade antimony veins were also encountered, with assays reaching an eye-catching 20.85% Sb over 0.5 metres, underscoring the dual-commodity nature of the system.

The drilling program delivered a total of 67 diamond core and 56 reverse circulation holes, focusing on both gold and antimony mineralisation. The results confirm that gold and antimony are structurally linked, occurring within the same fault breccias and silicified felsic zones. Notably, some high-grade stibnite veins also contained gold grades up to 4.74 g/t, reinforcing the intertwined nature of these commodities in the NW Array corridor.

Structural Complexity and Grade Distribution

Gold mineralisation at NW Array is hosted in two main geological settings: silicified felsic rock with quartz veining and fault breccia within schist containing quartz-sulphide shear veins. The contact zone between felsic rock and schist is marked by mineralised fault breccia, which appears in multiple orientations, mainly trending NNE-NE and E-W. This complexity makes it challenging to correlate higher-grade zones between drill holes, but the broad intercepts and consistent grades suggest a robust mineralised system.

Key gold intersections include 9.1m at 1.92 g/t Au and 5.37m at 2.99 g/t Au in hole 25TCDC064, and 28.65m at 0.89 g/t Au including 4.38m at 2.49 g/t in 25TCDC059. Additional near-surface zones were confirmed in holes 25TCDC063, 25TCDC044, and 25TCDC060. These results build on earlier findings from the 2025 program that reported broad gold mineralisation across the NW Array footprint, as detailed in Felix Gold’s recent multiple near-surface gold zones.

Antimony Veining Highlights Dual-Commodity Potential

Antimony assays from the program featured several significant stibnite vein intersections, including 2.53m at 4.34% Sb with a high-grade 0.5m section at 20.85% Sb in hole 25TCDC058, and 3.36m at 2.20% Sb including 0.47m at 13.59% Sb in 25TCDC059. These veins are part of the same structural system hosting gold, confirming a dual-commodity model. The high-grade antimony mineralisation remains open in multiple directions, offering scope for further expansion.

Felix Gold’s Executive Director Joseph Webb emphasised the strategic value of this dual-commodity system, stating that the gold mineralisation “adds a substantial near-surface intersection” and that the antimony mineralisation has already delivered some of the highest grades globally. The company is positioning itself as a key player in rebuilding America’s domestic antimony supply chain, with gold providing an additional value lever.

Project Infrastructure and Next Steps

The Treasure Creek Project benefits from excellent infrastructure, located just 30km northeast of Fairbanks with year-round paved road access and grid power. The project hosts the historic Scrafford Mine, Alaska’s second-largest antimony producer, and Felix Gold has secured 100% ownership of the mining claims, as reported in its recent full ownership of Treasure Creek announcement.

The company is now focused on integrating the 2025 drilling results into its geological model to refine targeting for upcoming drilling phases. With mineralisation open at depth and along strike, the next round of drilling aims to better define the high-grade zones, particularly the “black breccia” fault breccia/shear zones that host the richest gold and antimony intersections.

While no JORC-compliant Mineral Resources or Ore Reserves have yet been declared for the antimony component, Felix Gold’s recent testwork has demonstrated military-grade antimony concentrate quality, supporting near-term production pathways. The company cautions that economic viability and permitting remain subject to further evaluation.