Northern Freegold Announces Updated NI 43-101 Resource Estimate for Nucleus Deposit; Shares Down Slightly Late Morning

By Midnight Trader,  January 09, 2013, 11:04:50 AM EDT

Northern Freegold Resources Ltd. (NFR.V) announced an updated NI 43-101 mineral resource estimate for the Nucleus deposit at the road accessible Freegold Mountain Project, Yukon.

The new resource (at a pit optimized 0.25 g/t AuEq cut-off) contains 71.9 million tonnes grading 0.57 g/t gold, 0.85 g/t silver and 0.06% copper (1.31 million oz gold, 1.97 million oz silver and 89 million pounds copper) in the Indicated category and 60.4 million tonnes grading 0.41 g/t gold, 1.48 g/t silver and 0.04% copper (801,235 oz gold, 2.9 million oz silver and 52 million pounds copper) in the Inferred category.

Within the indicated resource there is a significant zone of higher grade mineralization which contains (at a 0.50 g/t AuEq cut-off) 25.9 million tonnes grading 1.02 g/t gold, 1.11 g/t silver and 0.07% copper (851,603 oz gold, 924,040 oz silver and 38 million pounds copper). This higher grade zone subcrops in the centre of the Nucleus deposit and has the potential to be exploited in the initial years of a mining operation.

Shares are down 4.12%, or half a cent to 12 cents late morning.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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