Freegold Ventures Limited (TSX: FVL), continues to successfully intercept higher grade at its Golden Summit Project in Alaska as two drill rigs continue to operate. In the Dolphin Cleary area, 34 holes have been completed since March with assays for 17 holes having now been reported. Six holes have been completed in the Saddle Zone and the assays are pending.
Several high-grade intercepts included:
- Hole GS2314: 113.3m grading 5.42g/t Au (uncut) including 3.1m grading 160g/t Au, also
- Hole GS2314: 2.4m grading 82.5g/t Au
- Hole GS2317: 181.9m grading 1.22g/t Au
The 2023 programme has multiple objectives: – delineating the extent of the mineralization to north of the Dolphin Cleary Zone, testing the potential for expansion to the west, expanding the higher-grade mineralization found within the Cleary Vein Swarm (CVS) and initial reconnaissance drilling of the Saddle Zone.
Most of the holes in the Dolphin Cleary Zone reported to date have been mainly targeting the area to the north-northwest of the Dolphin intrusive. The current drilling is moving westward, targeting the Tolovana Vein swarm west of Willow Creek, where hole GS2335 is currently in progress, and multiple occurrences of visible gold have been observed.
Recent drilling shows that a marble unit and significant faulting truncate the mineralization to the north in the Dolphin Zone. Hole GS2304 drilled earlier this year intersected significant faulting and a marble unit.
Subsequently, a north-south fence of holes (GS2304, G2312, GS2308 and GS2317) was drilled. Spaced approximately 100m apart and working from north to south, Holes GS2304, GS2313 and GS2308 all intersected this marble unit. Hole GS2317 intersected a broad zone of higher-grade mineralization returning 181.9m grading 1.22g/t Au from 211.5m to 393.4m updip from hole GS2111 (Section 478950E).
The current programme is designed to test the boundaries, expand and infill the current mineral resource estimate, which using a 0.45g/t Au cut off is 12.01Moz at 0.92g/t Au (indicated) and 7.7Moz at 0.85g/t (inferred).
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