Published: June 16, 2020 |

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Avidian Gold Corp. has agreed to terms and signed a binding letter of intent (LOI) with Keltic Enterprises to acquire a 100 percent interest in the Fish Creek gold property.

The Fish Creek gold property is a State of Alaska mineral lease totaling 418 hectares (1032 acres) and is located 6.5 km east of Kinross Gold’s Fort Knox Gold Mine and immediately west of Kinross’s Gil deposit in the Fairbanks Mining District.

“The acquisition of the Fish Creek project is a continuation of our plan to acquire additional properties in the Fairbanks Mining District and Fort Knox area in particular,” said David Anderson, chairman and CEO of Avidian.

“This is a prolific gold district that lends itself to favorable metallurgy through heap leaching of oxidized mineralization. We have seen oxidation profiles similar to Fort Knox in mineralization identified on our Amanita prospect located 5.5 kilometres south of the Fort Knox pit and anticipate a similar situation at Fish Creek. We look forward to continuing exploration at Amanita and initiating exploration at Fish Creek this summer,” added Anderson.

The Fish Creek project has potential to host both lode and placer gold deposits due to its shared regional geology and down-slope location from both Kinross Gold’s Fort Knox mine and their Gil project. The Fish Creek property has been primarily explored for placer gold but intrusive bodies interpreted from geophysics are evident on the property. Lode gold deposits in the Fairbanks Mining District are typically associated with intrusive events.

Historical placer gold production from the Fairbanks Mining District is estimated to be approximately 8 million ounces while lode gold production from the Fort Knox gold mine alone has recently surpassed 8 million ounces.

The Fish Creek property has excellent road access and is located on a drainage system that was mined extensively for alluvial gold in the past both upstream and downstream of the property boundaries. Very widely spaced placer drilling over a large area of the property conducted in 1996 indicated the presence of placer gold in alluvial deposits. More extensive and closer spaced placer gold drilling conducted in 2004 confirmed the presence of significant concentrations of placer gold on the claims.

Outcrop on the property is scarce consequently most of the historical exploration has been focused on placer exploration. Avidian’s prime focus will be on exploring lode gold potential although consideration will be given to placer gold potential to fund future exploration.

About Avidian Gold
Avidian brings a disciplined and veteran team of project managers together with a regional scale advanced stage gold-copper exploration portfolio in Alaska. Avidian’s Golden Zone project also hosts a NI 43-101 Indicated gold resource of 267,400 ounces plus an inferred gold resource of 35,900 ounces. Additional projects include the Amanita gold property which is adjacent to Kinross Gold’s Fort Knox gold mine in Alaska and the Jungo gold/copper propertyin Nevada.

Avidian is the majority owner of High Tide Resources, a private company with an option on the Labrador West iron ore property and owns the base metal Strickland Property and the Black Raven gold property, all located in Newfoundland and Labrador, Canada.

Avidian is focused on and committed to the development of advanced stage mineral projects throughout first world mining friendly jurisdictions using industry best practices combined with a strong social license from local communities.

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