Freegold Ventures Limited (TSX: FVL) has reported positive results from its Golden Summit project. The drill programme, which began in March, is ongoing with three rigs currently in operation and nine holes completed and submitted for assay in the area north of the Dolphin Zone.
The current programme is designed to expand and infill the current mineral resource estimate from February, using a 0.45g/t Au cut off and a $1,792 gold price, with 12.01Moz at 0.92g/t Au (407.544Mt indicated) and 7.7Moz at 0.85g/t (282.303Mt inferred).
In addition to ongoing drilling to the north, Freegold will also test a gold anomaly that extends 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.
One of the last holes completed in the 2022 programme intersected 1.03g/t Au over 147.3m, including 1.43g/t over 88.7m. This hole was drilled as an initial test of the potential western extension of the Dolphin Cleary Resource.
The 2023 drill programme initially focused on the northern extension of the Dolphin/Cleary. Drilling over the coming months will see additional drilling to the west for follow up.
Holes GS2301 & GS2302 are some of the northern most holes drilled in the Dolphin Zone. GS2301 is a 400m to the north and intersected 56.7m of 1.02g/t Au (Section 478800E). Hole GS2302 intersected 200.8m grading 0.81g/t Au, including 51.8m grading 1.04g/t Au. GS2303 is 350m to the north and intersected 42.4m grading 0.65g/t (Section 478900E).
Located 4km east of the current resource area lies the Saddle Zone, which hosts the American Eagle historical underground producer. It produced 60,000oz at a grade of 1.6oz/t. Later this summer, one rig will test the potential for broad zones of mineralization surrounding the high-grade veins.
More geophysical fieldwork, metallurgical work, and drilling are planned for 2023. The updated Preliminary Economic Assessment is anticipated to be completed in Q4.
For further information, please visit: www.freegoldventures.com/
