Key Highlights

  • Felix Gold lodged a mine permit application for NW Array with the Alaska Department of Natural Resources on 11 November 2026.
  • Infill drilling at NW Array returned gold from surface in all five shallow diamond holes reported, including 9.12 metres at 4.51 g/t.
  • Gold results are now available for 36 of 80 holes drilled in 2026, with 44 holes and antimony assays still pending.
  • Mining is targeted from June 2027, subject to State approval, although the company describes these timings as aspirational.

Felix Gold Limited (ASX:FXG) has reported gold results from a further 29 holes in its 2026 drilling program at the Treasure Creek Project in Alaska's Fairbanks Mining District, and has lodged its mine permit application for proposed mining at the NW Array prospect. The announcement, dated 12 November 2026, comes as the company builds what it describes as a US ore-to-metal Supply chain combining gold and antimony. Mining operations are targeted for June 2027, subject to State approval, and the company aims to operate a US antimony refinery in the first half of 2028.

The mine permit application

The application was lodged with the Alaska Department of Natural Resources on 11 November 2026 (Alaska time) as a Plan of Operations, which is the State's principal approval to mine. Felix already holds the State mining leases, and the application is accompanied by a reclamation plan. It covers a small, seasonal mining operation at NW Array, which the company says followed extensive consultation with State departments through a coordinated permitting process.

Approval is not yet in hand. The company's mining targets remain subject to the permit, funding and further studies, and the company has said that timing statements for mining and Downstream processing are aspirational rather than production targets.

Drilling results at NW Array

The most material gold result was 20.78 metres at 0.91 g/t from surface in hole 26TCDD007. Hole 26TCDD006 returned 9.12 metres at 4.51 g/t from surface, a result the company has flagged for caution because core recovery in that hole was 43 percent. In the southern part of the prospect, hole 26TCRC034 returned 21.34 metres at 1.32 g/t from 32 metres, including 13.72 metres at 1.79 g/t.

Results from step-out holes also extended the picture. Hole 26TCRC022 returned 19.81 metres at 0.75 g/t from 42.67 metres, about 1.2 kilometres north-northeast of the proposed development area, while hole 26TCRC009 returned 13.72 metres at 1.10 g/t from 16.76 metres to the south. All intersections are downhole lengths, and the company says continuity between the step-out lines and NW Array has not been established.

Antimony focus and the cautions attached

The near-term focus is antimony. The Treasure Creek area hosts the historic Scrafford Mine, which the company describes as Alaska's second-largest historical antimony producer, with recorded grades of up to 58 percent antimony. No Mineral Resources or Ore Reserves have been declared for antimony, and no JORC-compliant economic studies have been completed. The company is still assessing the economic viability of near-term antimony production, and the antimony assays from holes within the proposed pit remain outstanding.

Gold is being evaluated as a second product. The company reports near-surface oxide gold around antimony veins and is assessing whether that material could be mined alongside antimony. Because gold results are still incomplete, with 14 RC and 30 diamond holes awaiting assays, the company's assessment of its economic contribution remains at an early stage.

Final Word

Felix Gold has advanced the permitting pathway at NW Array while adding gold results that extend the mineralised footprint. The permit decision, the outstanding antimony and gold assays and the completion of mine studies will shape whether the June 2027 target can be met. Until those steps are complete, the project remains an early-stage development opportunity with timelines that depend on approvals and funding.