Northern Freegold – District Sized Opportunity in Yukon Gold Belt
Overview
Northern Freegold (TSXV:NFR) is controlled and operated by a technical group of Yukon locals who know the land and the communities they are working in. NFR’s Nucleus deposit contains an inferred resource of 1,004,000 contained ounces of gold within 35.82 million tonnes @ 0.87 g/t gold (0.4g/t cutoff). In June 2010 NFR started a 10,000m drill program aimed at increasing the size of this deposit. Nucleus is in the north western third of NFR’s Freegold Mountain Project which covers 199 square kilometers and is accessible by road.
Investment Highlights
- Drilling underway targeting expansion of 1 million ounce deposit
- District sized (199 sq. km) project
- Located 100km southeast of White Gold area play
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Chief Properties
Chief Property – Freegold Mountain
Northern Freegold Resources’ Freegold Mountain Project, includes a number of mineralized zones that host NI 43-101 compliant inferred resources totaling over 1 million ounces of gold. Known gold occurrences (in excess of 15) within this project provide the opportunity to expand this resource plus an excellent environment for new discoveries.
Nucleus Zone
In March 2010, NFR announced an updated NI 43-101 compliant resource of 1,004,000 ounces of gold in the inferred category at the Nucleus zone. This was a 32% increase from the initial resource estimate. The minerlization at Nucleus begins at surface and is still open to expansion in all directions and at depth.
Results from the 2009 drill program included some significant results including 3.6m of 55.27 g/t in a step out drill hole announced in March, 2009.
4,500m of drilling will be conducted on the Nucleus deposit in 2010.
Revenue
The Revenue Zone shows similar geological and mineralogical characteristics to other deposits in the region which have developed multi-million ounce gold resources with multi-billion pound copper resources. Geologic modeling of the Revenue Zone this winter has defined a number of priority targets for drill testing. The 2010 phase 1 drill program will include up to 5,500 m of RC drilling to systematically test several priority targets within the anomaly including the Granger, Discovery and Guder targets.
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Tinta Hill
The Tinta Hill zone, within the Freegold Mountain project has a NI 43-101 inferred resource of 70,000 ounces of gold, 2.0 million ounces of silver, 8 million pounds copper, 25,7 million pounds lead and 42.8 million pounds of zinc. Tinta Hill is located in the south east portion of the project and the mineralized zone is open to the northwest and the southeast.
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Goldy
Northern Freegold announced a new discovery in the Goldy Zone located 6 km from the Tinta Hill Zone. 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. 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.
Stoddart
Trenching was conducted to test the historical gold-in-soil anomaly, and to follow up on a float sample that ran 14.1% copper. The Stoddart Zone is a discovery of a new mineralized porphyry body located 1 km from the Ridge Zone, in the central portion of the district scale Freegold Mountain Project, Yukon. Two diamond drill holes (509 m, 1,670 feet) tested a historical 1300 by 400 m (4,265 by 1,312 foot) gold and copper soil anomaly coincident with an airborne magnetic survey anomaly.
Diamond drill holes in 2008 intersected significant mineralization indicative of a porphyry system located at or near surface including 159.25m of 0.14% copper and 205.65m of 0.15% copper.
Management
John Burges – President, CEO & Director
Mr. Burges has joined us from Knight Capital Group, a New Jersey based global financial services firm. Knight Capital is one of the largest securities trading institutions in North America and the largest trader of junior miners. As a Managing Director at Knight, Mr. Burges was responsible for Knight’s resources capital markets activities, focusing on North American small-cap public companies. Prior to his work with Knight, Mr. Burges was employed as a Director by Deutsche Bank and Merrill Lynch for a total of 13 years, in London and New York, where he was responsible for advising and financing public corporations in the resource and power sectors. He subsequently acted as Chairman and an Officer of Newmarket Power, a private equity backed independent power generation company, which acquired and operated approximately 450 MW of gas fired power generation in the Northeastern US. Mr. Burges has also worked with a private investment group in the Middle East, which made investments in the energy and resource sectors. Through his more than 20 year career, Mr. Burges brings substantial corporate finance, investment, and management experience. He has an Executive MBA from Columbia Business School and a BA (Hons) from Bristol University, England.
John Anderson – Chairman of the Board & Director
John Anderson holds a B.A. from the University of Western Ontario and is the co-founder of Aquastone Capital Advisors LP, a US based gold investment fund. With over 15 years experience in the capital markets, Mr. Anderson’s specialty is identifying undervalued opportunities in the resource industry and investing capital into these situations. John Anderson has assisted in a number of successful turn-around situations, providing financing, investor relations, and corporate development services for a number of small-cap companies.
Tim J. Termuende, B.Sc., P.Geo. – Director
Tim Termuende is a professional geologist with over 35 years experience in the mineral exploration industry, and has been continually active since 1976. Since earning his Bachelor of Science Degree in Geological Sciences at the University of British Columbia in 1987, Tim has worked on exploration projects throughout North, Central, and South America, and in the former Soviet Union. Mr. Termuende is a co-founder of Northern Freegold Resources and is the President and Chief Executive Officer of Eagle Plains Resources and Copper Canyon Resources (now Omineca Mining and Minerals). In addition to Northern Freegold, Mr. Termuende is a director of Kestrel Gold Inc., Aben Resources, and Blackrock Resources; all junior exploration companies listed on the TSX Venture Exchange.
Tim and his family make their home in Cranbrook, British Columbia. Tim currently arranges financings and oversees a broad range of ongoing exploration projects located throughout British Columbia, Yukon, NWT and Saskatchewan.
Greg Johnson – Director
Mr. Johnson has over 25 years of international mining industry experience in corporate finance, project development, and exploration. Mr. Johnson has acted as a director of South American Silver since 2009 and has been employed as President and CEO since 2010. As a co-founder of NovaGold, he played a key role in growing the company from $50 million in value to over $2 billion market capitalization, advancing three major projects through to Feasibility. Mr. Johnson is credited with the discovery and advancement of the 40 Moz Donlin Creek gold deposit in Alaska for Barrick Gold (Placer Dome) and NovaGold.
Allan Armitage Ph.D. P.Geol – Vice President Exploration
Dr. Armitage is a geologist with over 25 years of experience in the mining and exploration industry. As VP of Exploration, Dr. Armitage brings a vast amount of geological expertise to the Company as we continue to expand the Freegold Mountain Project in the Yukon. He is currently a senior geologist with GeoVector Management Inc. of Ottawa, Ontario, which provides resource evaluation and estimation, as well as project management, for resource companies. Dr. Armitage concurrently serves on the Board of Simba Gold, which is focused on gold exploration in Rwanda, Africa. He has previously served as Vice President of Exploration for both Uranium North Resources and Triex Minerals Corp., and has held senior positions for a number of mineral exploration companies with properties in North and South America. His experience includes managing all geological and geophysical aspects of exploration including, the implementation of exploration and drilling programs, resource modeling, preparation of technical reports, and managing quality assurance on properties.
Dr. Armitage has a PhD in geology from the University of Western Ontario and is an active member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta. He is a Qualified Person, as defined by National Instrument 43-101, and has experience working in mineral exploration involving a variety of commodities and mineral deposit types throughout Canada, as well as in the United States, Mexico, Honduras, Bolivia, Rwanda, and Uganda.
Glen J. Diduck, B.Comm. C.A. – Chief Financial Officer
Mr. Diduck has over 30 years of experience in public accounting with a focus on accounting, audit, and taxation of small to medium sized businesses. Since leaving the public accounting sector his focus has shifted to required disclosure in financial reporting, disclosure controls, and corporate governance in the junior mining exploration industry. Mr. Diduck also holds the position of Director and Chief Financial Officer of Eagle Plains Resources Ltd. and Omineca Mining and Metals Ltd., which are both listed on the TSX Venture Exchange. Prior to its acquisition by NovaGold, Mr. Diduck served as Director and Chief Financial Officer of Copper Canyon Resources Ltd. as well.
Bill Harris – Director & Founder
Bill Harris is a second generation prospector, born and raised in the Yukon. He brings a lifetime of commitment to the company and the Freegold Mountain area. Mr. Harris has been visiting and working in the area since the age of five, where he first got to know the early prospectors in the area through his father, a well know Yukon prospector. Throughout the intervening years, Bill has worked in the Freegold area as an independent prospector, as well as working with many of the individuals, junior, and senior companies active in the area.
Mr. Harris has gained extensive experience and knowledge in many parts of the exploration development and mining industry through his participation in projects throughout the Americas. His experience ranges from project generation, through acquisitions, exploration, permitting, and mining of both placer and small mine projects. Mr. Harris has conducted exploration and mining programs involving up to 350 employees as well as various contractors.
Mr. Harris grew up with many First Nations individuals. As a result, Mr. Harris has established a good working relationship with local First Nations over the years. Mr. Harris permitted, developed, and mined many placer deposits in the Little Salmon Carmacks First Nation and Selkirk First Nation territories, and was involved in the successful permitting, for mining and milling, of the Caribou Creek Property. This involvement has created a positive working relationship between Mr. Harris and Yukon regulatory bodies.
Bill is presently an appointed member of the Yukon Mineral Advisory Board, which advises the Yukon Minister of Energy and Mines on mining issues, and is a past President of the Yukon Prospectors Association.
Marco Strub – Director
Mr. Strub was a partner of Exulta AG, a portfolio management company, from 1997 to 2003. He is currently a Principal of Sircon AG, a consulting and investment research company based in Zurich, Switzerland.
