Freegold Ventures (TSX: FVL) has intersected long lengths of gold mineralization at its Golden Summit project in Alaska. The intercepts come from an ongoing drill program which saw four holes drilled as part of a program focused on facilitating metallurgical testing.
Four holes were drilled as part of this metallurgical program, with one hole focused on each of the east, west, north, and south ends of the current resource footprint. Highlights from the results include:
- GS2412: 1.00 g/t gold over 105.6 metres from a depth of 406.5 metres, including 1.14 g/t gold over 45 metres
- GS2414: 17.9 g/t gold over 12 metres from a depth of 101 metres, and 2.06 g/t gold over 34.7 metres from a depth of 183.3 metres
- GS2418: 3.06 g/t gold over 23.7 metres from a depth of 95 metres, and 1.23 g/t gold over 170.7 metres from a depth of 288.89 metres
- GS2421: 1.17 g/t gold over 115.5 metres from a depth of 197.5 metres, and 3.62 g/t gold over 42 metres from a depth of 361 metres
The results have led to another drill rig being mobilized in late October, with the emphasis being placed on the Cleary area, where hole GS2421 was conducted. Two additional holes are expected to be drilled at this area before drilling is shut down later this month for the season. Drilling is slated to resume in March.
Thirty four holes were completed to date under the 2024 program, with the program largely focused on the wester extension of Golden Summit in an effort to expand expansion. The program also conducted infill drilling in certain locations in advance of a pre-feasibility study, with those holes suggesting that infill drilling could potentially grow the current resource estimate. Three drill holes remain ongoing.
As for the metallurgical program, testing is focused on improving recoveries to 90%. Prior testwork saw recovery rates average out to 77%. Testing under the new program is expected to take several months to complete.
Freegold Ventures last traded at $0.88 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
