Northern Freegold Resources (TSXV:NFR) (OTCQX:NFRGF) Featured as Stock Pick of the Week by Jay Taylor, Editor of J Taylor's Gold, Energy & Tech Stocks Report
The Freegold Mountain project has two existing gold copper mineralized deposits. The Nucleus Deposit with 1.1 million ounces of gold and 67.8 million pounds of copper in the Indicated category, and another 600,000 ounces of gold and 62 million pounds of copper in the Inferred category. The Revenue Deposit has 1.1 million ounces of gold and 10.2 million ounces of silver, along with 287 million pounds of copper and 90 million pounds of moly in the Inferred category.
Jay Taylor stated, "What I like about this prospect is that is has enormous upside exploration potential. It is believed that the Nucleus Deposit, the Revenue Deposit, and the Stoddart Zone (to the east of the Revenue Deposit) are all part of a large-scale, gold-rich porphyry system, which extends in an east-west direction for more than eight kilometers."
Subsequent to J Taylor's recommendation, Northern Freegold announced recoveries of up to 97% gold and 51% silver from CN leach tests on whole ore samples prepared from drill sample rejects at the Nucleus deposit. Given that the Nucleus deposit is gold dominant, it was decided to complete CN leach tests on whole ore. Additionally, basic flotation test work was completed. Three whole ore CN leach tests were conducted. The feed was pulped to 40% solids and brought to pH 10.5-11 with lime, 0.5 g/l of CN was added and the pulp was rolled for 48 hours. Grind size was varied in the three tests and was achieved in a ball mill.
John Burges, President and CEO of Northern Freegold stated, "We are very pleased with the excellent overall recoveries of gold and silver through whole ore CN leach. These recoveries compare very favourably with other higher grade gold deposits. This coupled with our recent announcement of similar excellent recoveries at the adjacent Revenue copper, gold, molybdenum and silver deposit is a key milestone for Northern Freegold."
J Taylor further stated, "I do think this is another junior mining company that has the potential to skyrocket into a 10-bagger, assuming this slumbering exploration market continues to waken. I added some shares to my portfolio earlier today."
The company's shares currently trade at $0.15 and with 126 million shares outstanding, is capitalized at $19 million.
For more information about Northern Freegold and its many other properties, please visit their website at www.northernfreegold.com, or contact Andy Hay at 604-893-8757 or by email firstname.lastname@example.org.
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October 10, 2012 (Rueters)
Disclosure: Northern Freegold Resources is a Vulture Bargain Candidate of Interest (VBCI) and is our fully fledged Vulture Bargain #8. Members of the GGR team are actively accumulating and hold long positions in NFR.V or NFRGF.