Highlights

• Felix Gold reported first assay results from its 2026 step-out drilling at the Treasure Creek Project near Fairbanks.

• Treasure Creek lies in the Fairbanks Mining District, about 30 kilometres north-east of Fairbanks, with the NW Array.

• On permitting, the company intends to lodge a draft Plan of Operations with the Alaska Department of Natural.

• The confirmed next steps are the release of remaining assays from the 38 reverse circulation holes and 35.

Felix Gold (ASX:FXG) — reported first assay results from its 2026 step-out drilling at the Treasure Creek Project near Fairbanks, Alaska, including 12.19 metres at 2.84 grams per tonne gold in hole 26TCRC023. The announcement covers only the first seven holes of a programme that the company says is now complete.

What was drilled

Treasure Creek lies in the Fairbanks Mining District, about 30 kilometres north-east of Fairbanks, with the NW Array prospect the focus of this round. The 2026 programme comprised 80 holes, made up of 45 reverse circulation and 35 diamond holes. This release reports seven reverse circulation holes. Assays are still pending for 38 reverse circulation holes and all 35 diamond holes, and the company said it will report them as they are received.

Key intercepts

In hole 26TCRC023, north of the NW Array, Felix reported 12.19 metres at 2.84 grams per tonne gold from 36.58 metres, including 1.52 metres at 17.31 grams per tonne. The same hole also returned 22.86 metres at 0.68 grams per tonne from 4.57 metres. Hole 26TCRC024 returned 10.67 metres at 0.61 grams per tonne from 19.81 metres.

South-west of the NW Array, hole 26TCRC028 returned 4.57 metres at 1.21 grams per tonne from 12.19 metres and 6.10 metres at 0.97 grams per tonne from 19.81 metres. Hole 26TCRC031 returned 15.24 metres at 0.59 grams per tonne from 32.00 metres and 9.14 metres at 0.69 grams per tonne from 50.29 metres. Antimony grades in the gold intercepts were low, between 0.003 and 0.019 per cent.

Separately, hole 26TCRC019 intersected 3.05 metres at 1.04 per cent antimony from 6.10 metres, including 1.52 metres at 1.83 per cent antimony, together with 6.10 metres at 1.16 grams per tonne gold. Holes 26TCRC026 and 26TCRC030 returned no significant intersections. All widths are downhole, and true widths are not known.

Antimony and the wider strategy

Felix describes its focus as building an American antimony solution. The company said it plans to estimate a maiden antimony mineral resource, though it noted there is no certainty one will be defined. At present there is no antimony mineral resource, and no feasibility study, economic study or toll treatment agreement is in place. It also plans an update of the NW Array gold mineral resource that incorporates both 2025 and 2026 drilling.

On permitting, the company intends to lodge a draft Plan of Operations with the Alaska Department of Natural Resources, and community consultation is continuing.

Caveats the company flagged

Several limitations apply to the results. The 17.31 grams per tonne sample carries most of the grade of the 12.19-metre interval and is flagged as possible coarse gold, so the grade may be less precise. Step-out holes are not sufficient on their own to establish geological or grade continuity, and the company said the 1.2-kilometre distance to an earlier hole, 25TCDC023, should not be taken to imply continuity.

Downhole surveys are not yet available, with hole orientations only planned. Drilling encountered some caving, sample loss near collars and wet samples, and no audits or reviews of the 2026 sampling data have been completed.

What comes next

The confirmed next steps are the release of remaining assays from the 38 reverse circulation holes and 35 diamond holes still at the laboratory, the update to the NW Array gold resource, the planned maiden antimony estimate, and lodgement of the draft Plan of Operations. As these are exploration results, they do not themselves constitute a mineral resource or reserve, and the company has not given timing for most of these milestones.

With the majority of holes still unreported, the picture for both gold and antimony at Treasure Creek will become clearer only as the remaining assays arrive, and the reported intercepts should be read as a partial and preliminary dataset.