Northern Freegold Resources Ltd.
TSX VENTURE : NFR

Northern Freegold Resources Ltd.

November 15, 2007 09:10 ET

Northern Freegold Drilling Discovers 15.45 g/t Gold Over 9.3 Metres in Goldy Zone, Freegold Mountain Project, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 15, 2007) - Northern Freegold Resources Ltd. (TSX VENTURE:NFR) is pleased to announce a new discovery in the Goldy Zone located 6 km (3.7 miles) from the Tinta Zone, in the eastern portion of the district scale Freegold Mountain Project, Yukon. The 2007 program consisted of ground geophysics, trenching and the drilling of 5 diamond drill holes (696 m, 2,283 feet) based upon historical gold-in-soil anomalies, trenching and a shallow drill program.

Highlights:

- Drill hole GY07-16, the longest hole drilled to date in the Goldy Zone, intersected 53.75 m (176.30 feet) of 3.50 g/tonne (0.11 oz/ton) gold including

-- 9.30 m (30.50 feet) of 15.45 g/tonne (0.50 oz/ton) gold

- Drill hole GY07-18 was drilled toward GY07-16 in the same section, from a collar 100 m to the southwest, and may have intersected the top section of the mineralized zone in GY07-16

- The Goldy Zone is at the intersection of a 3 km gold in soil anomaly trending north-south; and a 4 km gold in soil anomaly trending northwest-southeast

- The Goldy Zone is located 4 km from a past producing gold mine

- Northern Freegold intends to systematically grid drill the Goldy Zone in 2008 (approximately 20 to 30 holes) to follow up on hole GY07-16

- Northern Freegold has access to at least 4 drills in the 2008 season and plans an aggressive drill campaign at the Freegold Mountain Project on at least 3 targets (Nucleus, Tinta and Goldy) to be able to calculate 43-101 resource estimates by the end of 2008

Bill Harris, President & CEO commented "We are encouraged that the first drilling in 19 years at the Goldy Zone has discovered this important new target. Following up on hole GY07-16 to determine the significance of this mineralization will be part of the 2008 program and will enable us to fulfill our purpose of developing resources and building reserves in multiple deposits within the district-scale Freegold Mountain Project Area."



Goldy Zone
Drill Results
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Hole No. Length From To Thickness Thickness Au Au
m m M m feet g/tonne oz/ton
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GY07-15 124.95 11.90 20.65 8.75 28.70 0.50 0.02
Includes 16.80 20.65 3.85 12.63 0.83 0.03
And 52.85 59.90 7.05 23.12 2.91 0.09
Includes 52.85 53.80 0.95 3.12 10.30 0.33
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GY07-16 169.15 13.80 19.60 5.80 19.02 0.64 0.02
And 100.85 153.00 53.75 176.30 3.60 0.12
Includes 100.85 119.90 19.05 62.48 8.03 0.26
Includes 103.00 112.30 9.30 30.50 15.45 0.50
Includes 132.00 153.00 21.00 68.88 1.58 0.05
Includes 140.50 143.80 3.80 12.46 4.90 0.16
Includes 149.45 153.00 3.55 11.64 3.65 0.12
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GY07-17 abandoned at 48 m due to poor ground conditions
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GY07-18 142.6 64.00 67.45 3.45 11.32 1.35 0.04
And 99.53 102.00 2.47 8.10 1.64 0.05
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GY07-19 no significant results
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Mineralized intervals with a length times grade value of less than 2.5
g/t/m are not included in the above table.


Previous work on the Goldy Zone targeted epithermal-style quartz veining and silicified zones associated with an altered quartz-feldspar porphyry body (QFP).

The Goldy Zone occurs at the northwest-trending contact between the Jurassic Big Creek syenite and Paleozoic gneisses of the Yukon-Tanana terrane. A body of altered and silicified quartz-feldspar porphyry intrudes the contact, which is also locally characterized by clay alteration and faulting. Gold mineralization is documented in altered QFP as well as in highly silicified zones of very fine grained "blue quartz" containing very fine grained disseminated sulphides, and associated quartz-sulphide veining. Chalcedonic quartz and barite in quartz veins are other epithermal features noted in outcrop and in core.

The 2007 drilling campaign was aimed at extending the known distribution of the QFP and its associated mineralized wall rock. The planned drill holes and prospecting were successful in extending the known extent of the QFP both at depth and along strike. Drill holes GY07-15 and GY07-19 were drilled 120 m and 70 m respectively to the south of GY07-16 and GY07-18.

Hole 07GY-16 extended the known distribution of the QFP body to the northwest. The hole is characterized by widespread greenish mica-clay alteration, disseminated sulphides and significant but discontinuous clayey crush zones. A section of alternating altered porphyry and syenite/hornblendite containing abundant quartz-sulphide veinlets and abundant (2-10%) fine grained pyrite and arsenopyrite needles replacing the mafic minerals graded 8.03 g/t gold over 19.05 m, including an interval grading 15.45 g/t over 9.3 m.

Freegold Mountain Project

The Freegold Project is situated within the Dawson Range portion of the Tintina Gold Belt, characterized by plutonic rocks of the 100 million year old Cretaceous Dawson Range Batholith and early Jurassic Klotassin Suite metaplutonic rocks intruding metavolcanic and metasedimentary rocks of the Yukon-Tanana Terrane. The region is transected by the west-northwest trending Big Creek Fault, which provides the locus for an over 100 km long well-mineralized belt, with placer gold deposits, porphyry copper-gold, and gold veins and breccias bodies, extending from Mt. Freegold northwesterly to the Casino copper-gold porphyry deposit. The Freegold Project covers a 35 km strike extent of this belt.

The Freegold Mountain Project covers an area in excess of 64 square miles (166 square km) and several road accessible mineralized zones which include historical estimates not compliant with NI-43-101. Historical work on the Freegold Mountain property dating back to 1930 indicates that the property holds significant potential to host an intrusion related gold deposit or bulk-tonnage gold+/-copper porphyry style mineralization (ie Nucleus Zone) 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 2.7 million ounces of gold from proven and probable reserves of 159.7 million tonnes grading 0.53 g/t as at Dec. 31, 2006 (www.kinross.com). These reserves have not been verified by the qualified person and the information is not necessarily indicative of the mineralization at Freegold Mountain. The Project also has potential to host other related deposit types such as intrusive hosted polymetallic vein systems (Tinta Hill), epithermal vein systems (Goldy) and skarn deposits (Margarete/Augusta), as well as other porphyry targets (Castle, Com, Nitro, Rage).

Quality Control and Assurance

The holes were drilled by a skid mounted diamond drill with NTW core size (5.6cm/2.2 inches in diameter). All core samples from diamond drilling are split and sent to EcoTech Laboratory in Whitehorse for sample preparation and then to EcoTech Laboratory in Kamloops for analysis. Blanks, commercial standards and duplicate core samples are included in each batch. Gold is analysed on 30 gram pulps by fire assay followed by aqua regia digestion and Atomic Absorption Spectrometry (AAS). Gold values greater than 1000 ppb are reanalysed by gravimetric fire assay. Other elements are analysed by 28 element ICP analysis after aqua regia digestion. Additional check analyses and assays will be carried out by ALS Chemex in North Vancouver. Intervals reported in this release do not necessarily represent true widths of mineralization.

The program is under the direct supervision of Mr. Ron Robertson, P. Geol., hereby identified as the "Qualified Person" under the NI 43-101 requirements.

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 the Burro Creek Project 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