Freegold Ventures Ltd. July 28 reported strong gold mineralization encountered in the Dolphin deposit, the Cleary Hill Vein System, and the vanishing gap between these two primary targets of drilling at the company's Golden Summit project about 20 miles north of Fairbanks, Alaska.

According to a 2016 calculation, the Dolphin deposit 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.

The expansive drilling completed by Freegold over the past couple of years has significantly expanded the gold mineralization within the Dolphin intrusive that hosts this deposit and began connecting the gold mineralization to the Cleary Hill Vein System, an area east of the deposit that hosts the historic Cleary Hill Mine that produced 281,000 oz of gold from ore averaging 1.3 oz of gold per ton before the operation was shuttered during World War II.

The latest batch of results from 2021 and 2022 drilling helps fill in the gap between these two targets.

Highlights from drilling completed in the gap between Dolphin and Cleary include:

• 93.4 meters averaging 1.34 g/t gold in hole GS2167.

• 169.7 meters averaging 1.6 g/t gold in hole GS2205.

• 206.8 meters averaging 1.78 g/t gold in hole GS2207.

• 125.5 meters averaging 1.28 g/t gold in hole GS2209.

In addition to these holes focused on expanding the Dolphin into the Cleary Hill area, Freegold reported results from deposit infill drilling. Highlights include:

• 307.5 meters averaging 0.84 g/t gold in hole GS2155.

• 203 meters averaging 1.17 g/t gold in hole GS2204.

• 109.3 meters averaging 1.63 g/t gold in hole GS22012.

Freegold's drilling, along with the historic shallow underground mining in the Cleary Hill area, has outlined gold mineralization from surface to depths of more than 1,000 meters over a roughly 1,000- by 1,500-meter area that encompasses the Dolphin deposit and the Cleary Hill Mine workings. The gold mineralization in this area is hosted within high-grade quartz veins and silicified zones that occur within a broader lower-grade envelope of quartz stockwork mineralization.

Freegold says drilling continues to successfully delineate these higher-grade veins and the encompassing lower-grade mineralization to depths well below the depths of the previous drilling and well outside of the current pit-constrained gold resource.

Freegold Ventures Ltd.

Click on image for larger map.

Results from the 2020 and 2021 drill programs, as well as several of the holes drilled this year, are expected to be incorporated into an updated pit-constrained resource estimate to be finalized before the end of the year.

Author Bio

Shane Lasley, Publisher

Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.

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