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Freegold Intersects 3.06 g/t Au over 42 Metres at Golden Summit and 1.36 g/t Au over 115.2 metres

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Freegold Intersects 3.06 g/t Au over 42 Metres at Golden Summit and 1.36 g/t Au over 115.2 metres

 

 

 

 

 

GS2406 & GS2407: – higher grade closer to surface

  • 115.2m grading 1.36 g/t Au from 45.8m, including 476 g/t Au over 0.6m (cut to 90 g/t Au) – GS2406
  • 28.9m grading 2.29 g/t Au from 119.5m, including 57 g/t Au over 0.9m – GS2407

 

GS2407 & GS208 – higher grade at depth

  • 87.5m grading 1.59 g/t Au from 522.4m – GS2407
  • 42m grading 3.06 g/t Au from 528m – GS2408

 

Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) is pleased to announce additional results from the 2024 drilling program. Twenty-seven holes have been completed, with two more currently in progress. The 2024 drill program is strategically targeting the western extension for potential additional expansion ahead of the commencement of a pre-feasibility study. The drilling has been systematically testing the expansion of the west zone, with some holes drilled to the north to delineate mineralization boundaries on the west side (GS2404, GS2409, GS2410). Hole GS2403 was drilled to the northwest and did not reach the target depth.

 

GS2406, GS2407 and GS2408 show promising signs as they follow the historically higher-grade veins on the west side of Willow Creek, intersecting multiple higher-grade intercepts over significant widths. As drilling progresses westward, a change in the orientation of the mineralization has been observed, which seems to align with the orientation of the mineralization at the historic Newsboy Mine, where the mineralization dips to the north. Furthermore, the more western holes have revealed larger veins, consistent with historical reports indicating the presence of substantial veins with mineralization dipping northward and to greater depths.

 

 

Hole

Number

Dip Azimuth From 

(m)

To 

(m)

Interval

(m)

Au

g/t

Cut to

 90 g/t

GS2403 -50 315 162.7 164 1.3 6.37
GS2404 -50 360 365 394.9 29.9 0.67
GS2405 -50 360 12.2 34.7 22.5 1.26
GS2406 -55 360 45.8 161 115.2 3.36 1.36
including 45.8 46.4 0.6 476
231.3 280.8 49.5 0.96
444.3 470 25.7 1.22
484.7 520.1 35.4 0.7
Hole

Number

Dip Azimuth From

  (m)

To

 (m)

Interval

 (m)

Au

 g/t

Cut to

 90 g/t

GS2407 -50 360 119.5 148.4 28.9 2.29
including 119.5 120.4 0.9 57
194.2 229 34.8 0.65
330.4 371.2 40.8 1.9
including 369.5 371.2 1.7 37.6
522.4 609.8 87.4 1.59
including 528.5 531.6 3.1 25.1
GS2408 -55 360 51.7 76.6 24.9 0.72
241.4 247.1 5.7 1.76
341.8 358.9 17.1 1.17
455.3 471 15.7 0.75
528 570 42 3.06
including 550.8 553.5 2.7 30.9
593.9 610.2 16.3 2.4
642 672 30 0.63
GS2409 -55 360 332.1 333.3 1.2 15.5
GS2410 -45 360 68.6 96.6 28 0.49
 

The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization.

 

It’s worth noting that the mineralization in the central Dolphin-Cleary Zone dips to the south. As a result, most of the drilling has been oriented to the north. With the observation of a change in the orientation of the mineralization in the drill core, further studies are being conducted to more accurately delineate the area where the shift in mineralization orientation occurs on the western side. As such, the remaining holes in the 2024 program will focus on drilling vertical holes to further define the mineralisation’s orientation.

 

Four of the twenty-seven holes completed were PQ holes. Holes GS2412, GS2414, GS2416 and GS2418 were drilled in the west zone, central Dolphin Zone (two holes) and Cleary Zone, respectively.  These holes were drilled to a minimum depth of 600 meters with large-diameter core.  The core was sawn in half, sampled, and sent to Base Metallurgical Laboratories Ltd in Kamloops, BC. The remaining half of the core was then quartered, sampled, and sent for standard gold fire assay.  The cutting and sampling of these holes were prioritized to facilitate the ongoing test work following the encouraging results reported in June of this year. The metallurgical work is expected to take several months and will entail a full suite of metallurgical test work.

 

A plan map showing the locations of the drill holes targeting the area west of Willow Creek can be found here:

 

https://freegoldventures.com/site/assets/files/6287/goldensummit-dolphin-cleary-resource-drilling-western-a.jpg

 

https://freegoldventures.com/site/assets/files/6287/section-478600e.pdf

 

In addition to the ongoing drill program, metallurgical, baseline environmental, cultural resource, and wetland studies remain ongoing.

 

A sample quality control/quality assurance program has been in place throughout the program. Drill cores were cut in half using a diamond saw, and one-half placed in sealed bags for preparation and subsequent geochemical analysis by ALS Laboratories. Core samples were prepared in ALS’s facility using the PREP-31BY package. Each core sample is crushed to better than 70 %, passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 1kg is taken and pulverized to better than 85 % passing a 75-micron (Tyler 200 mesh, US Std. No. 200) screen; a portion of this pulverized split is digested by Four Acid and analyzed via ICP-AES (method code ME-ICP61). Fire Assay analyzes all samples with an AAS finish, method code Au-AA23 (30g sample size) and over 10 g/t are automatically assayed using a FA Grav method, Au-GRAV21. Additional Au screening is performed using ALS’s Au-SCR24 method; select samples are dry-screened to 100 microns. A duplicate 50g fire assay is conducted on the fine fraction, and an assay is conducted on the entire oversize fraction. Total Au content, individual assays, and weight fractions are reported. Analytical and assay procedures are conducted in ALS’s North Vancouver and Reno facilities.

 

A QA/QC program included laboratory and field standards inserted every ten samples. Blanks are inserted at the start of the submittal, and at least one blank every 25 standards.

 

The Qualified Person for this release is Alvin Jackson, P.Geo., Vice President of Exploration and Development for Freegold, who has approved the scientific and technical disclosure in this news release.

 

About Freegold Ventures Limited

 

Freegold is a TSX-listed company focused on exploration in Alaska. It holds the Golden Summit Gold Project near Fairbanks and the Shorty Creek Copper-Gold Project near Livengood through leases.

 

Posted October 8, 2024

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