Felix Gold has exercised its option to secure full ownership of two upland mining leases and 25 mining claims that form part of the Treasure Creek Project in Fairbanks Mining District, Alaska, US.
The company exercised its option to acquire these assets from Goldstone Resources and Oro Grande Mining Claims.
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The purchase price, after deducting prior option payments totalling $850,000, requires a remaining payment of $1,400,000 to be settled within 30 days.
Situated approximately 30km from Fairbanks, the Treasure Creek Project hosts an emerging antimony deposit and a Joint Ore Reserves Committee (JORC) inferred gold resource of 467,000 ounces.
Felix Gold’s recent confirmation highlighted that bulk sample ore from Treasure Creek exceeds the US Military Concentrate Specification for direct shipping ore.
The company has demonstrated ore-to-metal processing pathways through independent programmes involving direct smelting and hydrometallurgical methods.
A site selection and toll treatment assessment, conducted by Worley, is under review by Felix.
This transaction strengthens Felix Gold’s position as the largest landholder in the Fairbanks Mining District with over 388,000 acres of exploration tenements.
The district is historically significant, having produced over 16moz of gold and is home to Kinross Gold’s Fort Knox mine.
The Treasure Creek Project’s strategic location on State of Alaska land simplifies permitting processes, as there is no federal land involvement.
With the acquisition completed, Felix Gold secures long-term project tenure for its ongoing antimony development and gold exploration activities.
Milestone payments are contingent on the future delineation of a gold mineral resource, and those payment obligations may lapse by October 2031 if specified conditions are met.
Felix Gold executive director Joseph Webb said: “We have now confirmed the ore quality, demonstrated the processing pathways, and secured outright ownership of the asset.
“That is a significant sequence of milestones for any critical minerals project — and for Treasure Creek, it positions us to move forward with clarity and conviction.
“This is the only proven source of high-grade antimony ore in the US, with ore that exceeds military-grade concentrate specifications straight out of the ground. Securing 100% ownership removes any uncertainty over our access to the project.”
Last month, the company announced drilling and trenching outcomes from the Northwest (NW) Array at Treasure Creek, revealing notable extensions to gold mineralisation.
