Felix Gold adds 6,203 acres to Alaskan project

Felix Gold (ASX:FXG) has picked up an extra 6,203 acres to its Fairbanks project in Alaska with new claims awarded to it in the jurisdiction, a priority acquisition target for the company now fulfilled. 

The company's new 'MHT Tenure' is placed within 400m of the Fort Knox mill managed by a US company called Kinross, and 200m from US-based Freegold Ventures' Golden Summit Project. 

Both peers are listed on the Toronto Stock Exchange. Exploration and evaluation activities targeting the new MHT Tenure are to commence shortly with a drill testing run planned to get underway this year. 

Map detailing the locations of Felix Gold's claims in Fairbanks Gold region

Exposure to historical targets of interest

The MHT Tenure (so named given that its owner is the Alaska Mental Health Trust) sits between the company's existing Treasure Creek and NE Fairbanks claims. 

Five key historic prospects are located within the boundaries of the MHT Tenure logged through public Alaskan geo databases and adjacent the Elliot Highway, a major sealed road through the Alaskan Northern Slope Oilfields. 

Minimum work requirements, royalties on 9Y lease 

The claim is based on a 9 year lease with Felix required to make minimum work commitments each year staging from US$150,000 years 1-3 up to $350,000pa in years 7-9. 

Felix Gold must also pay a royalty of 3% in the first sixty months of production and 4.5% in the months after. 

Meanwhile, an RC drilling program remains ongoing at the company's existing Treasure Creek Project. 

Twenty three holes for 2,420 metres have been completed. 

Felix Gold's charts compared to the materials index