Northern Freegold Resources Ltd.

Northern Freegold Resources Ltd.

May 16, 2008 09:10 ET

Northern Freegold Receives Final 2007 Assay Results and Completes First 1,000 m of 25,000 m Diamond Drill Program at Freegold Mountain Project, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 16, 2008) - Northern Freegold Resources Ltd. (TSX VENTURE:NFR) is pleased to announce it has received the final 2007 assay results and completed the first 1,000 m of drilling in the Nucleus Zone on the district scale 166 square km Freegold Mountain project in the Yukon Territory. The initial 8 holes of the 25,000m 2008 program are strategically drill testing the area adjacent to holes GRD07-41 and GRD07-58, which returned 72 m of 2.5 g/t Au and 75 m of 4.26 g/t Au, and highlighted a higher grade trend with the Nucleus Zone, a low grade, bulk tonnage gold target.

Results from the 2007 drilling in the Revenue and Dart Zones at Freegold Mountain have also recently been received, compiled and interpreted. A total of 8 holes were drilled in 2007 at the Revenue Zone, an area several kilometers east of the Nucleus Zone. Historical work at the Revenue Zone indicated near surface gold and copper mineralization associated with the contact between the Revenue Breccia and surrounding quartz monzonite, as well as quartz veins carrying high grade gold, silver and copper, peripheral to the breccia body. Holes RVD07-02 through 04 were drilled across the breccia contact and into the contact portion of it. The middle hole (RVD07-04) returned 0.52 g/t Au and 0.40% Cu over 10.5 m. Holes RVD07-05 through 07 drilled along the south contact intersected 34.90 m of 0.51 g/t Au and 0.22% Cu in Hole RVD07-06. These 6 holes confirmed mineralization along the south contact of the Revenue breccia body which is located across the headwaters of Revenue Creek, one of the highest grade producing placer creeks in the region. As can be seen in the plan map showing the location of the Revenue drill holes, Hole RVD07-01 was drilled distal to the breccia contact to follow up on an anomalous surface sample and intersected 8.69 m of 1.69 g/t Au including 0.95 m of 7.80 g/t Au and 14.2 g/t Ag. Hole RVD07-08 was drilled under the probable location of a historic gold vein to the north and did not produce any significant results. Complete results for the Revenue Zone are summarized in the table on the next page.

A total of 4 holes were drilled in the Dart Zone in 2007, an area located 3 km to the north of the Goldy Zone, and a distance of 14 km from the Revenue Zone. The target at the Dart Zone was an epithermal vein system, as indicated by a gold-antimony-silver-mercury-barite association on the claims. The 4 holes were drilled to test the mineralization which appears to be associated with quartz feldspar dykes and vein systems. Holes DT-07-13, 15 and 16 returned anomalous gold values including up to 1.52 m of 6.90 g/t Au, yet all holes returned intervals anomalous in silver, lead and zinc, such as Hole DT-07-14 which returned 3.80 m of 20.90 g/t Ag, 0.16% Pb, and 0.35 % Zn. Complete results for the Dart zone are summarized in the table on the following page. The Dart results are comparable to the Tinta and Ridge Zones, located 3 km to the northeast and 8 km to the west respectively (see press releases dated July 24, 2007, Sept. 10, 2007 and Nov. 8, 2007).

Bill Harris, CEO & COO commented "Drilling in the Dart and Revenue Zones is part of NFR's ongoing campaign to explore many of the zones on the district scale Freegold Mountain project which have been underexplored in the last 20 years or received little or no attention in the past. This work across the property will provide NFR with information which can be used to vector towards larger lower grade, or additional higher grade mineralization on the district scale land package at Freegold Mountain. NFR also looks forward to receiving the assays on the initial drilling from the high grade trend in the Nucleus Zone."

Revenue Zone- Target: Quartz veins & breccia bodies containing high grade
Au, Ag, Cu
Hole No. Length From To Interval Interval Au Ag Cu
M m m m feet g/t g/t ppm(%)
RVD07-01 190.55 5.51 14.20 8.69 28.50 1.69 (i) (i)
Includes 5.51 9.60 4.09 13.42 2.88 (i) (i)
Includes 6.75 7.70 0.95 3.12 7.80 14.2 (i)
And 28.05 33.47 5.42 17.78 0.52 (i) (i)
Includes 30.05 31.75 1.70 5.58 1.88 1.7 (i)
RVD-7-02 124.97 55.25 61.60 6.35 20.83 0.46 (i) 1816(0.18)
And 79.27 81.50 2.23 7.31 3.18 (i) (i)
And 101.10 110.45 9.35 30.67 0.19 (i) 1457(0.15)
RVD-07-03 56.39 No significant results
RVD-07-04 129.54 57.00 100.58 43.58 142.94 0.31 6.0 2427(0.24)
Includes 64.85 75.35 10.50 34.44 0.52 10.53 3953(0.40)
Includes 70.85 72.50 1.65 5.41 1.31 19.3 7588(0.76)
RVD-07-05 152.40 49.40 72.50 23.10 75.77 0.69 6.8 2383(0.24)
Includes 66.40 70.95 4.55 14.92 1.42 9.65 3103(0.31)
And 126.90 128.90 2.00 6.56 1.64 (i) (i)
RVD-07-06 153.92 66.40 101.30 34.90 114.47 0.51 6.2 2164(0.22)
Includes 91.35 94.35 3.00 9.84 0.91 16.9 7315(0.73)
RVD-07-07 146.30 57.80 68.20 10.00 32.80 (i) (i) 1203(0.12)
RVD-07-08 169.16 No significant results
(i)Ag less than 5 g/t and Cu less than 1,000 ppm

Dart Zone- Target: Epithermal vein system
Hole No. Length From To Interval Interval Au Ag Pb Zn
m M m m feet g/t g/t ppm(%) Ppm(%)
DT-07-13 158.49 24.10 26.56 2.46 8.07 (i) 2.98 1,772 2,075
(0.18) (0.21)
And 28.95 31.42 2.47 8.10 1.07 4.34 1.097 1,846
(0.11) (0.18)
DT-07-14 131.05 12.75 20.65 7.90 25.91 (i) 12.03 1,040 1,947
(0.10) (0.19)
Includes 12.75 16.55 3.80 12.46 (i) 20.90 1,579 3,524
(0.16) (0.35)
Includes 20.50 20.65 0.15 0.49 (i) 8.15 12,900 2,131
(1.29) (0.21)
DT-07-15 147.80 40.50 50.30 9.80 32.14 (i) 3.21 793 1,832
(0.08) (0.18)
Includes 41.15 42.80 1.65 5.41 2.84 5.72 827 2,906
(0.08) (0.29)
Includes 43.75 47.70 3.95 12.96 (i) 3.09 1,272 680
(0.13) (0.07)
DT-07-16 154.53 70.80 72.20 1.40 4.59 4.28 6.60 560 1,227
(0.06) (0.12)
And 102.46 104.38 1.52 4.99 6.90 8.51 816 3,532
(0.08) (0.35)
(i)Au less than .5 g/t Au

The dominant rock types on the Revenue Property are quartz monzonites and granodiorites from the Mid Cretaceous Whitehorse Suite, Dawson Range Batholith. The oldest rocks are roof pendants and large xenoliths of Paleozoic metasediments of the Yukon Tanana Terrane which overlie the Whitehorse Suite. The Early Jurassic Big Creek Syenite outcrops south of the Big Creek Fault on the south side of the property. Younger, Mid Cretaceous to Early Tertiary, small felsic intrusions and quartz feldspar porphyry dykes (QFPs) crosscut the older units. The Revenue Breccia is a lens shaped body, 1.5 km long by 0.5 km wide and oriented east-west. It is hosted by the Whitehorse Suite and may be a subvolcanic breccia pipe of a similar age to the QFPs.

The Dart property is primarily underlain by a Paleozoic gneiss-schist unit (Pelly Gneiss) of the Yukon Tanana Terrane. The contact with the Jurassic meta plutonic suite (Granite Batholith) consisting of a foliated hornblende-biotite granodiorite, lies to the northeast. Small dykes and dyke swarms of Jurassic orthoclase-hornblende syenite (Big Creek) and Cretaceous granite and rhyolite intrude the gneiss.

Seven holes drilled in the Tinta Zone in 2007 on targets from 1974 geophysical work were unsuccessful in intersecting vein systems separate and sub-parallel to the main Tinta Vein System, which results were highlighted in previous press releases dated July 24, 2007 and Sept. 10, 2007.

About the 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 goldcopper 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 ( 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 technical information disclosed in this release has been reviewed and approved by Susan P. Craig, P. Geo.

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 Director

Susan P. Craig, President

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.
    Sarah Longhurst
    Investor Relations Manager
    (604) 893-8757 or Toll Free: 1-877-893-8757
    (604) 893-8758 (FAX)