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Gold/Mining/Energy : Canadian Warrants Only -- Ignore unavailable to you. Want to Upgrade?

To: onepath who wrote (14103)	6/16/2010 10:20:44 PM
From: koan	Read Replies (2) \| Respond to of 23086

Really big strike-.54. Might want to get some first thing tomorrow. Fire River Gold Corp (C-FAU) - News Release Fire River drills 27 g/t Au over 24 m at Nixon Fork 2010-06-16 09:09 ET - News Release Shares issued 36,629,547 FAU Close 2010-06-16 C$ 0.54 Mr. Harry Barr reports FIRE RIVER GOLD ANNOUNCES HIGH GRADE GOLD RESULTS NIXON FORK GOLD MINE, ALASKA: 27 G/T (0.79 OPT) GOLD OVER 24.0 M (78.7 FT) Fire River Gold Corp. has provided high-grade assay results from the re-evaluation program on its Nixon Fork gold mine project in Alaska. The company has received assay results and completed a careful review of the next 12 holes completed in 2007 (N07U0047 to N07058). New significant intercepts include N07U049 returning grades of 110 grams per tonne (2.21 ounces per ton) gold over 6.7 metres (22.0 feet) and 27 g/t (0.79 ounce per ton) gold over 24.0 m (78.7 feet) in hole N07U53, including 30 g/t (0.89 ounce per ton) gold over 5.1 m (16.7 feet), including 82 g/t (2.40 ounces per ton) gold over 3.8 m (12.5 feet) and including 58 g/t (1.68 ounces per ton) Au over 2.0 metres (6.6 feet), as part of the continuing geological re-evaluation program for the Nixon Fork gold mine project in Alaska. A complete list of significant intercepts is provided in the attached intercepts table for these 12 drill holes; it includes results of previously unreported drill holes. During 2007 and 2008, the previous operator completed 9,400 metres from mostly underground drill stations in 110 holes. The results for these holes were not reported by that operator and have never been included in a resource assessment of the mine. The geologic evaluation (relogging) of the 9,400 metres is complete. LIST OF PREVIOUSLY UNANNOUNCED DRILL HOLES COMPLETED IN 2007 From To Length Length Au Au Hole No. (metres) (metres) (feet) (metres) (opt) (gpt) Location N07U049 3.7 10.4 22.0 6.7 2.21 110 3300 zone N07U053 1.9 25.9 78.7 24.0 0.79 27 3300 zone including 1.9 7.0 16.7 5.1 0.89 30 3300 zone including 15.5 19.3 12.5 3.8 2.40 82 3300 zone including 23.2 25.2 6.6 2.0 1.68 58 3300 zone N07U054 11.0 13.1 6.9 2.1 1.39 48 3300 zone N07U055 10.3 21.6 37.1 11.3 0.92 31 3300 zone including 10.3 12.4 6.9 2.1 2.50 86 3300 zone including 15.6 21.6 19.7 6.0 0.85 29 3300 zone N07U056 2.4 4.5 6.9 2.1 0.32 11 3300 zone 13.8 18.3 14.8 4.5 2.95 101 3300 zone N07U057 23.5 24.4 2.9 0.9 1.29 44 3300 zone N07U058 12.0 15.0 9.8 3.0 1.09 37 3300 zone Because the 2007 and 2008 results were not formerly reported, a careful review was initiated by FAU of all quality control and quality assurance procedures used by the former operator. Although original check assays from the 2007 drill program were not documented, it is clear that certified standards were used. The resampling program of the 2007 drill core is essentially a modified field duplicate exercise of the original assay results. The resampling of the remaining half-cores were fully analyzed except in rare cases where quarter-cores were used. Sampling of core duplicates as compared with FAU's pulp duplicates can produce a high degree of variability in the results due to the nugget effect of gold mineralization that occurs at Nixon Fork. This nugget effect was clearly evident in the bonanza grades reported for the 2008 drilling. Every effort has been made to replicate the previous sample intervals except when a previous sample crossed a lithological or mineralized boundary. In these cases, the new 2010 samples were terminated at such boundaries. The differences in lengths of the intervals may account for some of the variability in gold grades. In general, the assays are in conformity, especially for a comparison of field duplicate samples in a high-grade, coarse gold system. LIST OF GOLD INTERCEPTS FOR DRILL HOLES N07U047 TO N07U058 Hole From To Length Length Au Au No. (metres) (metres) (metres) (feet) (gpt) (opt) Location N07U047 16.9 17.1 0.2 0.7 8 0.23 3300 zone N07U047 22.6 24.2 1.6 5.25 65 1.89 3300 zone N07U048 3.5 6.3 2.8 9.19 13 0.38 3300 zone N07U048 12.7 14.7 2.0 6.56 65 1.89 3300 zone N07U048 15.3 18.0 2.7 8.86 146 4.25 3300 zone N07U049 1.2 2.5 1.3 4.27 8 0.22 3300 zone N07U049 3.7 10.4 6.7 22 110 3.20 3300 zone N07U050 0.0 1.2 1.2 3.9 19 0.56 3300 zone N07U050 2.2 2.8 0.6 2.0 10 0.29 3300 zone N07U050 4.0 5.6 4.8 15.8 78 2.28 3300 zone including 7.0 8.8 1.8 5.9 160 4.66 3300 zone N07U051 4.5 5.5 1.0 3.3 12 0.35 3300 zone N07U051 10.4 11.8 1.4 4.6 8 0.22 3300 zone N07U052 3.5 6.5 3.0 9.8 10 0.29 3300 zone N07U052 12.5 16.5 4.0 13.1 50 1.46 3300 zone N07U052 29.0 30.5 1.5 4.9 4 0.12 3300 zone N07U053 1.9 25.9 24.0 78.7 27 0.79 3300 zone including 1.9 3.8 1.9 6.2 59 1.71 3300 zone including 6.4 7.0 0.6 2.0 67 1.93 3300 zone including 7.7 10.3 2.6 8.5 12 0.33 3300 zone including 13.4 16.8 3.4 11.2 40 1.17 3300 zone including 18.3 19.3 1.0 3.3 207 5.99 3300 zone including 23.2 25.9 2.7 8.9 44 1.28 3300 zone N07U054 8.2 9.2 1.0 3.3 4 0.11 3300 zone N07U054 11.0 13.1 2.1 6.9 48 1.39 3300 zone N07U055 5.0 6.6 1.6 5.3 6 0.18 3300 zone N07U055 10.3 21.6 11.3 37.1 31 0.91 3300 zone including 10.3 12.4 2.1 6.9 86 2.49 3300 zone including 15.6 17.5 1.9 6.2 33 0.95 3300 zone including 19.0 21.6 2.6 8.5 43 1.25 3300 zone N07U056 2.4 4.5 2.1 6.9 11 0.32 3300 zone N07U056 13.8 19.8 6.0 19.7 78 2.26 3300 zone N07U057 1.8 3.0 1.2 3.9 4 0.11 3300 zone N07U057 6.1 6.9 0.8 2.6 4 0.11 3300 zone N07U057 9.0 11.0 2.0 6.6 4 0.11 3300 zone N07U057 14.9 17.0 2.1 6.9 4 0.11 3300 zone N07U057 23.5 24.4 0.9 3.0 44 1.29 3300 zone N07U058 4.2 5.2 1.0 3.3 9 0.26 3300 zone N07U058 12.0 15.0 3.0 9.8 37 1.08 3300 zone Relogging and sampling of the historic core is of critical importance to understanding the controls of gold mineralization, as well as gaining confidence in the high grades. The differences in grades shown are typical of high-grade gold deposits with a significant nugget distribution. For additional details, please refer to FAU's website under news, which includes the results from the first 33 holes, the geological reassessment program, historic site production, a description of the deposits, additional information on the quality assurance/quality control measures and a description of planned 2010 exploration drilling program. Underground drilling is typically completed in fan-like arrays of drill holes. These fans define the limits of the high-grade zones in the 3300. Most of the drilling in 2007 was completed between the 280 and 200 levels of the Crystal decline. Relogging and sampling of the 2007 and 2008 drill core have been completed. Geologic work will now focus on selected zones from the pre-2007 core library, particularly in areas of favourable targets and mineralization. Work will also begin on a new resource estimate scheduled for completion by fall of 2010. Other near-term tasks to begin in June will be underground mapping and sampling with particular emphasis on fault and facture zones. Also, core drilling will commence in the later part of June, with the initial focus on high-quality near-surface targets. A COMPARISON OF THE ORIGINAL 2007 ASSAYS WITH THE CHECK ASSAYS FROM 2010 (FIELD DUPLICATES) ORIGINAL ASSAYS Field duplicates CHECK ASSAYS Hole From To Length Au From To Length Au No. (metres) (metres) (metres) (gpt) (metres) (metres) (metres) (gpt) N07U047 22.6 24.2 1.6 65 22.7 24.1 1.4 77 N07U048 12.7 18.0 5.3 99 12.9 18.0 5.1 128 including 16.5 18.0 1.5 261 16.5 18.0 1.5 264 NO7U049 3.7 10.4 6.7 110.30 4.3 10.4 6.1 54 N07U050 4.0 8.8 4.8 78 4.3 8.8 4.5 82 including 7.0 8.8 1.8 160 6.4 8.8 2.4 145 N07U051 4.5 5.5 1.0 12 5.8 7.2 1.4 7.52 N07U052 12.5 16.5 4.0 50 12.5 16.5 4.0 57.65 including 13.8 14.8 1.0 76 13.8 14.8 1.0 127 NO7U053 1.9 25.9 24.0 27 1.9 25.2 23.3 19 including 1.9 7.0 5.1 30 1.9 7.0 5.1 20 including 15.5 19.3 3.8 82 15.2 19.3 4.1 31 including 23.2 25.2 2.0 58 23.2 25.2 2.0 68 NO7U054 11.0 13.1 2.1 48 11 13.1 2.1 46 NO7U055 10.3 21.6 11.3 31 10.3 21.3 11.0 21 including 10.3 12.4 2.1 86 10.3 12.2 1.9 39 including 15.6 21.6 6.0 29 15.6 21.3 5.7 28 NO7U056 2.4 4.5 2.1 11 2.4 4.6 2.2 8 NO7U056 13.8 18.3 4.5 101 13.7 18.3 4.6 108 NO7U058 12.0 15.0 3.0 37 12.0 14.9 2.9 49 Significant byproduct of the Nixon Fork gold mine includes copper and silver credits. Until the closure of the mine in 2007, reported copper production was 1.27 million pounds, and silver production was 19,566 ounces from 106,137 tonnes mined. Historic recovered grades were approximately 0.6 per cent for copper and 0.18 ounce per ton for silver. The project is being managed by Richard Goodwin, PEng, vice-president mining for Fire River Gold and the qualified person for this news release. We seek Safe Harbor.