RSS UpdatesCompany Information for Fire River Gold Corp.
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 TSX.V; FAU
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Company Statement
Fire River Gold Corp. is a near term production company with a superior technical team focused on bringing its flagship project: the Nixon Fork Gold Mine, back into production within the next 12 months. The Nixon Fork Gold Mine is a fully permitted and bonded gold mine with past production values averaging 1.4 opt (42 gpt). Nixon Fork is located within Alaska's Tintina Gold Belt, which hosts numerous world class deposits.
Fire River Gold is a member of the International Metals Group (www.internationalmetalsgroup.com). Fire River is also listed on OTC (FVGC) and the Frankfurt Exchange (FWR)
Current Operations
Flagship Project:
Nixon Fork Gold Mine, Alaska
Turn key mining operation
- High grade gold with copper and silver credits
- Previous production average over 42 g/t (1.2 opt)
- Fully permitted with a $ 3.6 USD bonded turnkey mining operation
- Excellent potential for near term production
- Complete re-evaluation of the mine, mill, resource and tailings in progress
- Significant exploration upside
The Company's main focus is the gold-copper-silver Nixon Fork Mine, Alaska, which was acquired in August of 2009. A former high-grade gold mine, it produced approximately 145,000 ounces of gold at a production average of 42 grams per ton (1.4 opt).
This turn-key, project is a fully operational mining - milling facility that includes a 200+ tpd flotation plant with a gravity gold separation circuit. In 2008, a complete CIL gold leaching circuit was designed and purchased and is approximately 60% installed. The mine also includes a fleet of mining vehicles, a self-contained diesel power plant, maintenance facilities, drilling equipment, an 85 person camp, office facilities and a 1.2 km long landing strip. Mining and processing operations at Nixon Fork are fully permitted and bonded.
2010 Re-evaluation Program in Progress
In 2009 the company began a $1.25M evaluation of the project to confirm the status of the geological work, confirm both the gold grade from the tailings pond, and further metallurgical assessment through testwork. The evaluation program is continuing into 2010, with key milestones including a determination of a go, no-go decision for completing the CIL circuit to process tailings by Spring 2010; defining exploration targets for underground and surface drilling commencing in Spring; the preparation of a new resource estimate for the property by fall 2010, and the determination of a go, no-go decision for the resumption of underground mining by the end of the year.
The Nixon Fork mine hosts a skarn deposit with complex geology. Understanding the rock types and structure is paramount to demonstrating the continuity of mineralization. Although management believes the information from the previous operators to be relevant, it is management's objective to re-establish a new geological model and mine plan by completing the following:
- at the mine site, the company has a team of geologists that are currently re-logging all existing core at site in conjunction with underground mapping of current workings (a component of the re-logging will be to reduce and compile historic rock codes from over 300 to approximately 30)
- re-assaying selective intercepts, and
- confirming or correcting hole surveys
- re-logging and re-assaying portions of the most recent drill programs undertaken by the previous operators
- management plans to drill up to 20,000 m in 2010 in both underground and surface programs
- Upon completion of this work, a new resource estimate scheduled for completion late in 2010, will be prepared for the property, using Fire River's new data from the 2010 Exploration program.
The ongoing work program of 2010 is under the direction of Richard Goodwin, P.Eng., an underground mining engineer and experienced project manager, with a team of site geologists. To accelerate this work, the project team has been expanded in 2010 with the addition of four geologists, including Larry Hillesland as the Manager of Geology and Kristian Whitehead as a Senior Project Geologist.
Underground Exploration Update 2010
From 2004 through 2009 the previous operator spent approximately US$52 million on upgrades to the processing facilities, mine infrastructure, permitting and bonding with only a limited amount of their budget spent on exploration.
FAU plans to use the results of this geological re-evaluation program to guide a 12,000 metres underground drill program scheduled for spring and summer. The final resource estimate, scheduled for release late in 2010 will incorporate the results of the re-evaluation program as well as the results of the 2010 drilling.
Surface Exploration Update 2010.
As well, the Company will undertake a total of 4,000m of surface drilling which will test several development prospects on the property from surface in hope of establishing additional zones of mineralization.
Re-Evaluation of Tailings Pond
The first operator of the Nixon Fork Gold Mine produced an average head grade of approximately 42 grams per ton (1.4 OPT) but only averaged 83% recovery. Based on previous engineering and metallurgical studies done on the tailings pond, between 150,000 tonnes and 170,000 tonnes of mill tailings are in place (at a grade of between 7 and 9 grams per tonne) which are currently being re-evaluated.
The objective is to look at the feasibility of re-processing the tailings through the new CIL plant that was purchased and is approximately 60% installed in the mill. A drill program was done in the fall to confirm the gold grades and a metallurgical study is in progress, confirming prior study results. A complete evaluation of the tailings production is slated for first half of 2010. If the Company elects to defer this option, gold recovery from the tails will be a component of an overall mine plan, anticipated for completion by the end of 2010. Ongoing periodic updates will follow as the program continues through 2010.
Facilities and Infrastructure
Facilities at the Nixon Fork Gold Mine include a 200 tpd floatation plant with a gravity gold separation circuit, a sulphide floatation circuit. In 2008, a CIL gold leaching circuit was purchased and approximately 60% installed. The mine also includes a fleet of mining vehicles, a self-contained power plant, maintenance facilities, drilling equipment, an 85 person camp, office facilities and a 1.5km long landing strip.
Mining and processing operations at Nixon Fork are fully permitted and bonded. Approximately 150,000 tonnes of mill tailings that a previous study showed averaged 8.1 grams per ton are being re-analysed with the objective of being processed in the CIL circuit.
Geographical Spread
Board of Directors and Key Management
| Directors |
| Harry Barr, President & CEO, Director: |
| Mr. Barr has over 30 years of experience in the mining industry and is the President, CEO and Director of Pacific North West Capital Corp. He was the founder of CanAlaska Uranium, Freegold Ventures and El Nino Ventures. In 2004 Mr. Barr set a corporate mandate to hire CEO’s and Presidents to manage the above companies. Working in conjunction with Dr. Greg Myers, Mr. Barr’s corporate objective is to finance the Nixon Fork Gold Mine and assemble a seasoned production team to move the Nixon Fork Gold Mine back into operation within the next 18 months. |
| Richard Goodwin, P. Eng., Vice President, Mining |
| Project Manager - Nixon Fork Gold Mine |
| Mr. Goodwin is a professional mining engineer with over 25 years experience in underground mine operations, engineering consulting and corporate management. Early in his career, Mr. Goodwin worked at the Myra Falls Operations of Westmin Resources Ltd. for ten years, during which time he performed numerous mine engineering roles and three years of hands-on experience as an underground miner. In 1995 he became a consulting mining engineer, first with MRDI Canada as a Principal Engineer and later with Snowden MIC, where he managed Snowden's steady growth in Canada. |
| Robert Guanzon, CFO: |
| Mr. Guanzon has been in the field of accounting for more than 20 years. He has been involved in the financial reporting of pharmaceutical manufacturing, research & development, real estate/property management and project building construction. He holds a Bachelor's degree in accounting and received his Certified Public Accountant (CPA) designation from the Philippines. |
| Spiros Cacos, M.A., Director: |
| Mr. Cacos has extensive experience in Corporate Communications and Corporate Finance, specializing in public mineral exploration companies. Mr. Cacos has been responsible for advising management of the Company on public relations, corporate finance and corporate strategy. Mr. Cacos has an extensive network of contacts with the financial community including fund managers, industry analysts and media throughout North America, the United Kingdom and continental Europe. |
| Kevin Lawrence, Director: |
| Mr. Lawrence has more the 15 years of hands on experience as a business coach and has assisted hundreds of entrepreneurs and business leaders across North America and abroad to overcome major obstacles, deal with tough decisions and capitalize on new opportunities to achieve breakthrough results in their professional and personal ventures. |
| Linda Holmes, Director: |
| Ms. Holmes has been a Canadian/U.S. Regulatory Compliance Consultant to public companies since 1994. Additionally, Ms. Holmes has served as a Director of Public Relations and Compliance Manager for over 15 years for a group of publicly traded mineral exploration companies trading on the TSX and NASDAQ. |
| Taryn Downing, Corporate Secretary |
| Ms. Downing administers the Company's corporate compliance and administration. She has over 30 years experience in both public and private sectors. Prior to joining Fire River Gold, she was VP, Administration and Corporate Secretary for Pacific North West Capital Corp., CanAlaska Uranium Ltd., and Freegold Ventures Limited. She is currently the Corporate Secretary for El Nino Ventures Inc. |
| Consultants |
| Larry Hillesland, Manager of Geology: |
| Mr. Hillesland has over 30 years of mineral exploration experience throughout the Western Hemisphere, with a strong focus on gold. In addition, he has worked as Project Manager or Exploration Manager for several projects including Kinross' Kupol Project, the Century Mining's San Juan Mine, and American Bonanza's Copperstone Mine. Mr. Hillesland's most recent job was Project Manager for Kodiak Exploration's Hercules Project in Ontario, where he managed major drill programs. |
| Kristian Whitehead, Senior Geologist: |
| Mr. Whitehead has focused his seven years of exploration experience on gold exploration, primarily in the Tintina Gold Belt, where the Nixon Fork Mine is located. He has acted as Senior Project Geologist twice before, on the Dublin Gulch Project for StrataGold, and most recently on the Cassiar Gold Project for Hawthorne Gold Corporation. |
| Curt Freeman, Mining Consultant: |
| Mr. Freeman, M.Sc., P.Geo., has over 30 years of experience in mineral exploration and is the founder of Avalon Development Corp. one of Alaska’s biggest and best known geological consulting companies. Mr. Freeman has worked with IMG and its companies within the group and has been an instrumental figure in the success of a number of exploration projects throughout Alaska. |
Company Address2303 West 41st Avenue
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CapitalIssued & Outstanding: 47,211,797
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Related News
13/04/10 - Fire River Gold Could Be In Production At The Nixon Fork Gold Mine Within Six Months19/01/10 - Fire River Gold Lays A Lot Of Geological Love Onto Its Nixon Fork Property In Alaska
27/10/09 - Fire River Gold Builds An Enviable Portfolio Of Projects In Alaska With Potential For Early Production
15/07/09 - Fire River Gold Aims For A Rapid Resumption Of Cash Flow From Operations Up At The Nixon Fork Gold Mine In Alaska
Most Recent Statement
27/07/10 - Fire River Gold Commences 28,000 Metre Drill Program at the Nixon Fork Gold Mine, Alaska08/07/10 - Fire River Gold Corp. Hires Mine Superintendent for the Nixon Fork Gold Mine, Alaska
06/07/10 - Fire River Gold Announces 144 g/t (4.2 opt) Gold over 2.5 m (8.2 ft) Nixon Fork, Alaska
30/06/10 - Fire River Gold Generates Over $1 Million Revenue From Ball Mill Clean Up at Nixon Fork Gold Mine, Alaska
21/06/10 - Fire River Gold Announces 498 g/t (14.52 opt) Gold Over 3.0 m (9.8 ft) Nixon Fork, Alaska
18/06/10 - Fire River Gold Announces 67 g/t (1.95 opt) Gold Over 6.3 m (20.7 ft) Nixon Fork, Alaska