Freegold Ventures Limited (TSX: FVL) has reported continuing positive results from the Golden Summit Project. The drill programme, which began in March, is ongoing with three rigs currently operating.
To date, 24 holes have been completed north and west of the Dolphin Zone where mineralization is still open and projecting towards surface. An additional three holes are in progress.
The first holes of the 2023 programme are located primarily in the west-northwest portion of the deposit and are aimed at testing up-dip extension of the mineralization to expand it to the north and reduce the potential overall strip ratio.
Results included:
- Hole GS2305: 17.65g/t Au over 1.6m and 24m grading 0.86g/t Au
- Hole GS2306: 1.01g/t Au over 256m, including 128m grading 1.20g/t Au, including 1.8m grading 31.8g/t Au
- Hole GS2307: 2m grading 15.15g/t Au and 81.7m grading 0.53g/t Au
Hole GS2304 limited the boundaries of the mineralized envelope to the north, returning no significant assays. Additional assays results are pending and will be reported once received.
In addition to ongoing drilling to the north, drilling later this season is also expected to test a significant gold in soil geochemical anomaly that extends over 1.5km to the west. The goal of this additional drilling is to potentially increase the current resource area beyond its current size of 1.3km x 600m.
A 332-line km MobileMT survey was also recently flown. MobileMT is a passive airborne geophysical technique which utilizes natural source signals to map variations in the subsurface resistivity providing information to depths greater than 1,000m. This information is useful for defining large structures and boundaries of geological domains.
Final data is expected to be received in the coming weeks and will be utilized to further enhance current drilling targets in the Saddle area, which are slated to be drilled later this summer.
For further information, please visit: www.freegoldventures.com
