Northern Freegold Resources Ltd. (TSX Venture: NFR) was identified in March as one of the most interesting gold exploration companies at the 2009 PDAC mining conference in Toronto, Canada. The excitement followed a run of high grade results in 2008/2009 news releases and the stock jumped on an announcement on February 12, 2009 of an exceptional intersection of 14.5 g/t gold over 47 meters (154 feet at 0.42 oz/t) including an interval of 206.5 g/t over 1.24 meters (4 feet of 6 oz/t). Following that release Northern Freegold achieved a recent high of $0.72 per share.
Northern Freegold has wrapped up its 2008 drill program, successfully stepping out to both the east and west-northwest with a flurry of bonanza grade gold drill results. These results have elevated the earlier expectation of upgrading a bulk tonnage open-pit historic gold resource at the Nucleus Zone to include a high-grade gold component open in all directions and at depth.component open in all directions and at depth. The 2008 drill program is now being incorporated into a NI 43-101 compliant resource estimate and an updated technical report on the new geologic interpretation for the Freegold Mountain Project. The Nucleus Zone is only one of more than 20 some mineralized occurrences over the project’s 35 kilometer strike length.
The Freegold Mountain Project is a 100% owned district scale 166 sq km (64 sq mile) project on crown land located in the Yukon Territory. The project is the compilation of a life’s work of CEO Bill Harris, whose father prospected in the area, and assembled the immense land position quietly during a period of low metal prices. The management team includes President Susan P. Craig, with significant project management and permitting experience with NovaGold Resources Inc. Both Harris and Craig are long established and well regarded as mining professionals and geologists in the Yukon Territory.
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