Nucleus intercepts boost Northern Freegold

Vancouver – Stepout drillhole results from the Nucleus zone sparked a 10%-plus jump in Northern Freegold‘s (NFR-V) shareprice.

The batch of 11 drillholes, the latest from Northern Freegold’s 44-drillhole campaign of 2009, were largely stepouts to the south and west of the Nucleus zone where the company has outlined an inferred resource of 68 million tonnes grading 0.5 grams gold per tonne for just over 1 million oz. contained gold.

Northern Freegold notes that the latest drillholes are part of a growing gold-mineralized target to the south of the Nucleus and as such they have the potential to expand the zone’s resource estimate. Northern Freegold adds that at Nucleus mineralization is still open at depth and in all directions.

Highlights include 16 metres grading 2.96 grams gold and 17 metres grading 1.01 grams gold in hole 144 with each intercept respectively starting 67 and 207 metres downhole.

Northern Freegold also hit some near surface intercepts. Hole 147 cut as much as 2 metres grading 10.05 grams gold and, likewise, hole 152 hit 2 metres grading 7.73 grams gold. Hole 147 also returned 0.5 metres grading 51.4 grams gold starting 50 metres downhole.

“Particularly of note, is the presence of high grade intercepts within this new target area,” says Northern Freeogold president and CEO Bill Harris in a statement.

As of presstime Northern Freegold’s shareprice was up 15% or 4.5¢ trading at 35¢. Northern Freegold has about 64 million shares outstanding.