Freegold Ventures Ltd. Aug. 31 announced that as its rigs continue to turn – from the 30 holes already completed since the start of the company's resource upgrade and expansion drilling program in March – results have come in that maintain the impressive mineralization at Dolphin-Clearly within Golden Summit, a project about 25 miles north of Fairbanks, Alaska.

Located about a 30-minute drive from Fairbanks, Golden Summit is an advanced-staged exploration project within the heart of the prolific Fairbanks Mining District. Roughly eight kilometers from Kinross Gold's Fort Knox Mine, this approximately 5,000-acre property consists of 14 patented federal claims, 76 unpatented federal claims, and 80 state mining claims.

Coming under Freegold's wing in 2008, the company purchased 100% interest in the patented mining claims plus three state claims located on Cleary Creek on the north side of Golden Summit – and what a strategic purchase it was.

Kicking off early spring, Freegold's 2023 drill program began with holes primarily focused on expanding the northern and western boundaries of the 19.7-million-ounce Dolphin-Cleary deposit to reduce the strip ratio for a future open-pit mine.

Updating its mineral resource estimate this year as well, exploration has revealed Dolphin-Cleary hosts 407.54 million metric tons of open-pit mineable indicated resource averaging 0.92 grams per metric ton (12 million oz) gold, plus 282.3 million metric tons of open-pit mineable inferred resource averaging 0.85 g/t (7.7 million oz) gold.

Previously released highlights from this year's drilling at Dolphin-Cleary include:

• 56.7 meters averaging 1.02 g/t gold from a depth of 161 meters in GS2301.

• 1.6 meters averaging 17.65 g/t gold from 130.7 meters in GS2305.

• 256 meters averaging 1.01 g/t gold from 322.2 meters in GS2306.

• Two meters averaging 15.15 g/t gold from 156.3 meters in GS2307.

With one rig turning on the Saddle Zone, about 4,000 meters east of Dolphin-Cleary, Freegold continues to test further expansion potential to the west, with its other drill operating on the western extension.

The company says several reconnaissance holes will be drilled to assess the historical veins along with their coinciding gold geochemistry to determine their potential to host additional resources.

The latest batch of assays, drilled from the northern part of the Dolphin area, was successful in demonstrating the potential for higher-grade up-dip intersecting several high-grade intercepts within a broader interval; highlights include:

• 15 meters averaging 1.64 g/t gold from 344 meters in hole GS2308.

• 21.4 meters averaging 1.67 g/t gold from 7.6 meters in GS2310.

• 28 meters averaging 0.68 g/t gold from 199 meters in GS2311.

However, the company's most impressive intercept was GS2309.

Drilled to a depth of 703.8 meters, GS2309 was riddled with intervals-hitting mineralization at the 62.5-meter mark and continuing for 497.1 meters averaging 0.75 g/t gold. This wide mineralized zone included some impressive higher-grade subsections, including:

• 244.7 meters averaging 1.13 g/t gold from 314.9 meters.

• 127.7 meters averaging 1.7 g/t gold from 431.9 meters.

• 3.1 meters averaging 15.7 g/t gold from 486.5 meters.

An additional hole was drilled from the same pad as GS2309, drilled to the west; results are pending.

Freegold Ventures Ltd.

Freegold says that drilling continues to expand upon the broad higher-grade zone found within the Cleary Hill Vein swarm, which dips southward and plunges towards the Dolphin intrusive, resulting in a significant amount of higher-grade mineralization at depth.

The company also has one drill testing the Saddle Zone, which is 2.5 miles (four kilometers east of the Dolphin-Cleary deposit.