Freegold Ventures Limited (TSX: FVL | OCTQX: FGOVF) has announced a 2024 exploration programme for its Golden Summit Project.
Results remain pending for the 2023 drill programme holes GS2336 and GS2337. Both holes were drilled in the western portion of the current resource. Once available, the results from these holes will be reported. The 2023 drill programme results will then be incorporated into an updated mineral resource estimate.
The 2023 drill programme confirmed the potential to further expand the resource along strike to the west within a 1.5km-long gold-in-soil geochemical anomaly. Additionally, the results highlighted the potential for further expansion drilling to the west to increase the overall resource grade at shallower depths, closed off mineralization to the north of the current resource, and demonstrated the potential for the Saddle Zone to host additional gold and silver mineralization.
Freegold expects the the 2024 programme to test the potential for higher-grade mineralization closer to surface that may improve the overall project economics with the potential delineation of shallower higher-grade material. Drilling is expected to commence in mid-April, with two drills initially.
Hole GS2333, a 200m step-out hole, intersected significant higher-grade material starting closer to the surface, 276.5m grading 1.76g/t Au. Drilled at a shallower dip than most of the drilling to date, with the hole intersecting the zone at a vertical depth of 225m. The hole intersected 4.25g/t Au over 67.1m from 438 to 505.1m and bottomed in strong mineralization intersecting 4.09g/t over 23.9m from 608.3 to 632.2m.
Further metallurgical test work will also be completed during the 2024 programme aimed at enhancing Golden Summit Project’s overall economics. Results from the ongoing metallurgical work are expected to be reported later this quarter. Although Golden Summit already hosts an extremely large resource, the 2024 programme will focus on optimizing the project economics before completing an economic study. In addition to drill testing and metallurgical work, the 2024 programme will include further baseline, cultural and wetland delineation surveys.
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