Northern Freegold Resources Ltd.
TSX VENTURE : NFR

Northern Freegold Resources Ltd.

November 08, 2007 12:02 ET

Northern Freegold Resources Ltd.: New High Grade Zone Returns 5.6 feet of 0.52 oz/t Gold, 9.53 oz/t Silver, 2.82% Copper, 3.44% Lead and 1.57% Zinc at Freegold Mountain Project, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 8, 2007) - Northern Freegold Resources Ltd. (TSX VENTURE:NFR) is pleased to announce a newly discovered zone (Ridge Zone) containing high grade gold-silver-copper-lead +/- zinc mineralization located in the central portion of the district scale Freegold Mountain Project, Yukon. Located roughly 8 km (5 miles) southeast of the Nucleus Zone, 11 km (7 miles) northwest of the Tinta Zone, and 1 km (0.6 miles) from the Stoddart Zone, the Ridge Zone was discovered following up on a historical gold-in-soil anomaly and recent sampling of float material grading up to 14.1% Cu. Trench 07R-01 exposed a 6.7 m (22.0 foot) wide shear zone with highlighted values shown in the table below.



Highlights from Trench 07R-01(i):
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Length Length
(true (true
Chip width) width) Au Au Ag Ag Cu Pb Zn
Sample m Feet g/t oz/t g/t oz/t % % %
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TR07R-01A 4.70 15.74 3.72 0.11 60.3 1.83 0.59 0.51 0.23
includes 3.20 10.50 5.43 0.15 87.9 2.55 0.85 0.74 0.30
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TR07R-01B 0.68 2.23 37.86 1.10 499.4 14.51 1.22 12.81 0.31
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TR07R-01C 1.70 5.58 18.02 0.52 328.0 9.53 2.82 3.44 1.57
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TR07R-01D 2.00 6.56 3.92 0.11 58.7 1.71 0.60 0.79 0.45
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TR07R-01A &
TR07R-01D(x) 6.70 21.98 3.77 0.11 59.8 1.74 0.59 0.59 0.29
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G2420 Grab Grab 73.70 2.14 600.0 17.43 0.73 9.42 0.04
G2422 Grab Grab 70.30 2.04 840.0 2.44 1.12 20.10 0.18
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(i) Complete results can be found in the Appendix at the end of this
release - refer to plan map and photo of trench at
www.northernfreegold.com
(x) cross-section of whole shear zone


To view the map accompanying this release please click on the following link: http://www.ccnmatthews.com/docs/nfg1.pdf

To view the photo, Ridge Sample A, please click on the following link: http://www.ccnmatthews.com/docs/nfg2.pdf

Bill Harris, President & CEO commented, "This new high grade showing highlights the excellent potential for new discoveries in under-explored parts of the property. The high grade values within and peripheral to the main shear zone are indicators of a strongly mineralized system that we see expressed throughout the district scale Freegold Mountain Project. These values are similar to those found at the Tinta Zone, a polymetallic vein system, which are often peripheral to, and found associated with, porphyry style mineralization. We are excited about the opportunity to continue exploration in this new zone and discover its relationship with nearby porphyry copper-molybdenum occurrences and other nearby high grade polymetallic showings."

Ridge Zone

Trenching was conducted to test the historical gold-in-soil anomaly, and to follow up on a float sample that ran 14.1% copper. Following excavation of the first trench (TR07R-01), other trenches were excavated along the projected strike extension of the shear zone, with trench TR07R-05 being located approximately 315 m (1,033 feet) from the first trench. The trenches were excavated to a maximum depth of 3 m (10 feet) and up to 40 m (131 feet) in length. Trenching in 07R-01 exposed fractured, altered and oxidized biotite granodiorite, with abundant azurite staining, black Cu-rich coating and local malachite and chrysocolla. This material is cross-cut by epithermal dolomite-quartz veining. All samples of the oxidized sheared intrusive rock were mineralized. Composite grab samples collected in Trench 07R-01 were followed up by a systematic program of mapping and chip sampling in TR07R-01, the highlights of which are on the table above.

Approximately 15 meters (49 feet) to the northwest of the shear zone in TR07R-01, a grab sample (G2419) of discrete clayey alteration zones on fractures in massive intrusive rock returned values of 16.90 g/t Au, 140.0 g/t Ag, 0.43% Cu, 0.85% Pb and 0.42% Zn.

Two grab samples (G2411 and G2412) from TR07R-03 of azurite-stained biotite-rich intrusive rock were taken roughly 200 meters (660 feet) south of TR07R-01 and returned values of 4.5% Cu and 10.4% Cu.

The Ridge Zone is in an area primarily underlain by mid Cretaceous granodiorite (Casino Granodiorite) that intrudes the Paleozoic or older basement metamorphic complex of the Yukon Tanana Terrane. The Ridge Zone is located within a biotite-rich granodiorite, at or near the contact between the Casino granodiorite and the later Bow Creek granite.

Northern Freegold's 2007 reconnaissance program was the first systematic exploration program on the central part of the Mount Freegold property since the late 1980's.

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 30 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

All samples were sent to EcoTech Laboratory in Whitehorse for sample preparation and then to EcoTech Laboratory in Kamloops for analysis. 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. The Ecotech Laboratory in Kamloops is an ISO 9001 certified and accredited facility.

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.



(i) Appendix - Complete Results
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App. True
Sample width width Au Ag Cu Pb Zn
Tag # Type (m) (m) (ppb) ppm ppm ppm ppm
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TRENCH 07R-01

G2401 Chip A chip, 0.5 0.35? 265 9.6 1119 2284 1749
S wall

G2402 chip, 0.4 0.3 24.1 286 1.13% 2.01% 3870
S wall g/t g/t

G2403 chip, 0.5 0.35 260 4.1 516 480 1409
S wall

G2404 chip, 0.45 0.3 95 1.4 277 152 3614
S wall

G2405 chip, 1.5 1.2 4.57 104 1.11% 1.10% 3884
S wall g/t g/t

G2406 chip, 0.65 410 14.7 1404 814 1025
S wall

G2407 chip, 0.45 0.4 10.7 148 2.30% 9052 3825
S wall g/t g/t

G2408 chip, 1.9 1.5 55 1.4 451 172 731
S wall

Weighted Average TR07R-01A 4.7 3.72 60.3 0.59% 0.51% 0.23%
(G2402 to G2408) g/t g/t

Weighted Average TR07R-01A 3.2 5.43 87.9 0.85% 0.74% 0.30%
(G2402 to G2407) g/t g/t
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G2409 Chip B chip, 1.3 0.6 38.9 406 1.26% 10.10% 3380
S wall g/t g/t

G2410 chip, 0.5 0.08 30.1 1200 9020 33.10% 796
S wall g/t g/t

Weighted Average TR07R-01B 0.68 37.86 499.4 1.22% 12.81% 0.31%
(G2409 to G2410) g/t g/t
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G2413 Chip C chip, 1.2 0.6 16.6 240 3.40% 1.34% 1.10%
N wall g/t g/t

G2414 chip, 0.6 0.4 36.7 740 4376 10.20% 1800
N wall g/t g/t

G2415 chip, 1.6 0.7 8.57 168 3.70% 1.38% 2.77%
N wall g/t g/t

G2416 chip, 1 0.5 35 1.6 164 176 734
N wall

Weighted Average TR07R-01C 1.7 18.02 328.0 2.82% 3.44% 1.57%
(G2413 to G2415) g/t g/t
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G2417 Chip D chip, 0.35 0.1 27.6 260 1.26% 3.99% 7591
S wall g/t g/t

G2418 chip, 4 1.9 2.67 48.1 5671 6264 4332
S wall g/t g/t

Weighted Average TR07R-01D 2 3.92 58.7 0.60% 0.79% 0.45%
(G2417 to G2418) g/t g/t

Weighted Average TR07R-01A
(G2402 to G2408) & 01D 6.7 3.77 59.8 0.59% 0.59% 0.29%
(G2417 to G2418) g/t g/t
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G2419 o/c, 16.9 140 4277 8502 4180
S wall g/t g/t

G2420 TR07R-01 o/c, 73.7 600 7270 9.42% 358
S wall g/t g/t

G2422 TR07R-01 grab in 70.3 840 1.12% 20.1% 1773
G2414 g/t g/t
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TRENCH 07R-03

G2411 TR07R-03 loose 35 1.7 4.50% 420 1359
grab

G2412 TR07R-03 composite 225 56 10.40% 1642 3122
grab g/t
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Contact Information

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