Northern Freegold Resources Ltd.
TSX VENTURE : NFR

Northern Freegold Resources Ltd.

June 07, 2007 15:54 ET

Northern Freegold Completes First Hole of 15,000 m Diamond Drill Program at Freegold Mountain Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 7, 2007) - Northern Freegold Resources Ltd. (TSX VENTURE:NFR) is pleased to announce the completion of the first diamond drill hole of the 2007 Drill Program on the Freegold Mountain Project in the Yukon Territory. The program will consist of up to 15,000 m of diamond drilling utilizing at least 2 drill rigs from Kluane Drilling of Whitehorse.

Hole GRD-07-041 was drilled to a depth of 262 m (860 feet) in the southeast portion of the Nucleus Zone, downhill and to the east of Hole GRD-06-015 which included the occurrence of visible gold within long, low-grade intersections (25.9 m of 0.73 g/t Au and 62.0 m of 0.82 g/t Au) as well as a higher grade interval of 9.26 g/t Au. Hole GRD06-015 is located directly uphill from the Mechanic Creek placer gold workings where wire gold and large nuggets (up to 26.6 grams) are being recovered. Hole GRD-07-041 is one of many holes planned to test the eastern extension of the Nucleus Zone and its relationship with the Revenue Zone, 2.5 km to the east.

A course to train local community and First Nation members in linecutting skills and other entry level positions for the mining industry (in conjunction with Aurora Geosciences Ltd.) is underway. Two of three camps are presently active on the property, with more than 40 personnel and contractors at site.

The Freegold Mountain Project covers an area in excess of 64 square miles (166 square km) and several road accessible mineralized zones which contain historical and non-43-101 compliant resources. Historical work on the Freegold Mountain property dating back to 1930 indicates that the property holds significant potential to host bulk-tonnage gold+/-copper porphyry style mineralization such as that seen at Kinross Gold's Fort Knox deposit in Alaska which has produced more than 3 million ounces in the past 10 years and still has a resource of 2 million ounces of gold from proven and probable reserves of 82.1 million tonnes grading 0.74 g/t.

Northern Freegold will be participating at the Cambridge House World Gold, PGM & Diamond Conference in Vancouver (booth 1001) on June 16th and 17th at the Vancouver Convention Centre.

Northern Freegold is a Canadian-based resource exploration and development company which relies on local expertise and strong management to focus on development of economic reserves on the district-scale Freegold Mountain Project in the Yukon and Burro Creek in Arizona.

Northern Freegold Resources Ltd.

On behalf of the Board of Directors

William (Bill) G. Harris, President and Chief Executive Officer

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Northern Freegold Resources Ltd.
    Bernie Kennedy
    Investor Relations Manager
    1-877-489-4440
    Website: www.northernfreegold.com