Felix Gold’s step-out drilling delivers high-grade gold at Treasure Creek

• High-grade gold struck about 1.2km north-northeast of NW Array
• Further assays report shallow gold and antimony mineralisation
• Results pending from another 73 holes across the completed program

Special Report: Felix Gold has struck high-grade gold on a northern step-out line at its Treasure Creek project in Alaska, with the first assays testing mineralisation well beyond the established NW Array footprint.

Felix Gold (ASX:FXG) returned 12.19m at 2.84g/t gold from 36.58m downhole, including a 1.52m interval at 17.31g/t gold, in a hole drilled around 1.2km north-northeast of a previous NW Array drillhole.

The high-grade sample accounts for most of the gold in the broader intersection. Laboratory analysis flagged suspected coarse gold, which can produce greater variability in individual sample results.

All intervals are downhole lengths, with true widths yet to be established.

The same northern hole also cut 22.86m at 0.68g/t gold from 4.57m.

Another hole to the north recorded 6.10m at 1.16g/t gold from 6.10m, including an overlapping 3.05m at 1.04% antimony, which contained 1.52m at 1.83% antimony.

Southwest of NW Array, drilling returned 15.24m at 0.59g/t gold from 32m and 9.14m at 0.69g/t from 50.29m.

Testing a much bigger gold footprint

Previous drilling at NW Array was concentrated within an area roughly 400m by 200m, principally around the antimony-bearing structures.

The 2026 campaign had two objectives: test extensions close to the bulk-sampling open cut, where antimony extraction began in June, and step north-northeast along a broader trend interpreted from historical drilling and gold-in-soil anomalies.

The 1.2km step-out adds another location where gold mineralisation has been intersected, although continuity between that hole and NW Array has not been established.

“With 73 holes still waiting on assays, these first results begin to test whether gold mineralisation repeats along the north-northeast trend at Treasure Creek,” Felix Gold executive director Joseph Webb said.

NW Array already hosts an inferred gold resource of 25Mt at 0.58g/t for 467,000oz (published to the ASX 20 June 2024; Felix Gold confirms it is not aware of any new information that materially affects that estimate).

The new results build on earlier near-surface gold hits at NW Array that established gold as a parallel exploration focus within the company’s antimony-bearing corridor.

Felix intends to incorporate its 2025 and 2026 drilling into an updated NW Array gold resource estimate, with the wider results helping refine its geological model.

A working gold hub in Fairbanks

Treasure Creek lies about 30km by road from Kinross Gold’s Fort Knox mill, placing Felix near established processing infrastructure as it evaluates its gold options.

The wider district already uses a satellite-ore model.

Kinross processes ore from its Manh Choh mine, roughly 400km southeast of Fort Knox, at the existing mill. The Alaska Department of Natural Resources also records ore being trucked from the Gil mine to Fort Knox for processing.

Those operations offer a regional precedent for centralised processing infrastructure serving separate mine sites.

Felix has no third-party processing agreement in place, however. Any future arrangement would depend on metallurgical assessment, commercial terms and the necessary approvals.

Gold also sits alongside Felix’s primary antimony ambition.

The US Geological Survey’s Mineral Commodity Summaries 2026 estimated US net import reliance for antimony at 91% in 2025, highlighting the supply-chain backdrop to the company’s plans for domestic antimony production.

“Felix Gold is building America’s Antimony Solution, and that remains our priority,” Webb said.

Felix has prepared a draft Plan of Operations for lodgement with Alaska’s Department of Natural Resources as it assesses potential antimony mining beyond its existing bulk-sample permit.

The company is also working towards a maiden antimony mineral resource, with further technical, commercial and permitting work required before any potential production decision.

More assays to come

The 2026 drilling campaign is complete at 80 holes, comprising 45 reverse circulation and 35 diamond holes.

The latest report covers the first seven RC holes returned by the laboratory.

Assays are outstanding for the remaining 38 RC holes and all 35 diamond holes, with results to be released following validation and geological interpretation.

The company will use those assays to assess possible repetitions of gold mineralisation along the northern trend and extensions around NW Array.

“Each set of results will add to our understanding of the trend and of the extensions around NW Array,” Webb said.

This article was developed in collaboration with Felix Gold, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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