Freegold Ventures Limited (TSX: FVL | OCTQX: FGOVF) has announced the successful completion of its 2023 drill programme at the Golden Summit gold project in Alaska, USA. Over the year, the company drilled a total of 44 holes.
Between 2020 and 2022, Freegold’s drilling increased the resource from 1.35Moz to 12.6Moz indicated and from 1.58Moz to 7.7Moz inferred. The drill programme conducted this year continued to intersect broad zones of mineralization with definitive zones of higher-grade mineralization.
The mineralization style comprises discrete veins and stockwork accompanied by pervasive silification, which has been demonstrated to extend over a 1.5km strike length. Additionally, the mineralization remains open for another 1.5km to the west in the Dolphin Cleary Area.
Assays are pending for Holes GS2331 – GS2337, intended to expand the higher-grade mineralization towards the west. Hole GS2337 was drilled in a previously untested geochemical trend to the southwest of the Dolphin zone. Visible gold has been noted in GS2237.
Assays are still pending for the holes drilled north of the Dolphin Cleary Zones (GS2320 to GS2328). The primary purpose of these holes was to define the mineralization extent in the north and immediate northwest, and they have successfully intersected the up-dip of the overall mineralized trend.
Similarly, assays are still pending for the Saddle Zone holes (SZ2301 to SZ2307). The 2023 drill programme conducted in the Saddle Zone was primarily exploratory and aimed to provide a better understanding of the mineralization controls in the densely veined Saddle Zone. Based on visual inspections, it is evident that additional drilling is required in the Saddle Zone, as visible gold has been noted in SZ2307.
The current programme was designed to test the boundaries, expand, and infill the current mineral resource estimate from February of this year.
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