Testing Golden Summit growth potential
2021 drilling continues to confirm a Dolphin-Cleary Hill link North of 60 Mining News – March 25, 2022
Last updated 3/24/2022 at 2:09pm
Freegold Ventures Ltd. reported additional strong gold mineralization from 2021 holes drilled in both the Cleary Vein and Dolphin zones on its Golden Summit exploration project about 25 miles north of Fairbanks, Alaska.
Located about 25 miles north of Fairbanks, Alaska, and adjacent to Kinross Gold Corp.'s Fort Knox Mine, Golden Summit hosts 61.5 million metric tons of indicated resource averaging 0.69 grams per metric ton (1.36 million ounces) gold; and 71.5 million metric tons of inferred resource averaging 0.69 g/t (1.58 million oz) gold.
During 2021, Freegold completed more than 38,000 meters of drilling in 68 holes in the Dolphin intrusive, which hosts this resource and the adjacent Cleary Hill Vein System, which hosts the historic Cleary Hill Mine that produced 281,000 oz of gold from ore averaging 1.3 oz per ton before the operation was shuttered during World War II.
The latest batch of results is from 12 holes drilled in both the Dolphin and Cleary Vein zones.
Highlights from these holes include:
• 10.1 meters averaging 10.7 g/t gold from a depth of 279.2 meters in hole GS2112 (Cleary).
• 54.5 meters averaging 1.46 g/t gold from a depth of 335.9 meters in hole GS2123 (Cleary).
• 221.9 meters averaging 0.95 g/t gold from a depth of 302.1 meters in hole GS2124 (Dolphin).
• 249.5 meters averaging 1.05 g/t gold from a depth of 296 meters in hole GS2128 (Dolphin).
• 99.4 meters averaging 1.45 g/t gold from a depth of 395 meters in hole GS2133 (Dolphin).
• 51.5 meters averaging 2.05 /g t gold from a depth of 477.6 meters in hole GS2144 (Cleary).
Hole GS2123 was collared 25 meters west of GS2017, a 2020 hole that cut 1.7 meters averaging 588 g/t within a 98.2-meter zone averaging 3.07 g/t gold. GS2123 also intersected a broad zone of higher-grade mineralization from 335.9 to 390.4 meters grading 1.46 g/t gold over 54.5 meters which included a high-grade intercept of 17.1 g/t gold over 0.7 meters.
Freegold says the intercept in hole GS2144 continues to demonstrate the broadening of high-grade gold zones at depth in the Cleary zone.
The company also says the 2021 drilling clearly cut intrusive at depth on the Cleary side, further strengthening its interpretation that the Dolphin intrusive may underlie Cleary at depth. It is believed that Cleary may have dropped down along a fault on the east side of Bedrock Creek, potentially further expanding the footprint of the Dolphin intrusive.
Hosted within a structurally complex environment, the interpreted Cleary Vein System is a zone of veins, veinlets, and stockwork zones hosted within the surrounding schist, which is interpreted to be the down-dip extent of the high-grade vein zones found within the historical high-grade Cleary, Colorado, Wackwitz, and Wyoming veins. Together with their broader enveloping stockwork zones, these veins have the potential to significantly expand the existing resource through both increased tonnage and grade.
Assays are pending for 36 holes drilled last year and will be reported over the coming weeks. Once the assays are in, the 2020-2021 drill results will be incorporated into an updated mineral resource estimate for Golden Summit.
As 2021 assays slowly roll in, the roughly 20,000-meter initial phase of the 2022 program continues to further delineate the area to the south of the Cleary Vein Swarm and the area between the Dolphin and the Cleary where previous high-grade intercepts were reported.
Freegold reports that significant veining, quartz breccia, and visible gold has been encountered in an area with no previous drilling south of Cleary.