The mining newspaper for Alaska and Canada's North

Freegold ramping up 2024 drill program

North of 60 Mining News - April 10, 2024

Freegold Venture Ltd.

Freegold Ventures will begin its 2024 drill program with two rigs testing potentially higher-grade and shallower mineralization west of the 20-million-ounce gold deposit at its Golden Summit project.

Drilling will test for shallower and higher-grade mineralization west of 20-million-oz deposit in preparation for Golden Summit economic study.

Freegold Ventures Ltd. April 10 announced that it is ready to begin a 2024 exploration program at Golden Summit that will include drilling, metallurgical testing, and other work ahead of completing an economic study for the 20-million-ounce gold project about 25 highway miles north of Fairbanks, Alaska.

According to a resource calculated last March, the Dolphin-Cleary deposit at Golden Summit hosts 407.5 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 inferred resource averaging 0.85 g/t (7.7 million oz) gold.

Since this 19.7-million-oz resource was calculated, Freegold has completed 37 resource expansion and upgrade holes at Dolphin-Cleary.

Highlights from the 2023 resource Dolphin-Cleary deposit expansion drilling include:

497.1 meters averaging 0.75 g/t gold from a depth of 62.5 meters in hole GS2309, including 73.2 meters averaging 2.3 g/t gold.

2.4 meters averaging 82.5 g/t gold from a depth of 293.6 meters and 113.3 meters averaging 5.42 g/t gold from a depth of 385.7 meters in hole GS2314.

444.9 meters averaging 0.75 g/t gold from a depth of 289.1 meters in hole GS2329, including 24.5 meters averaging 2.6 g/t gold.

276.5 meters averaging 1.76 g/t gold from a depth of 355.7 meters in hole GS2333, including 67.1 meters averaging 4.25 g/t gold.

414.5 meters averaging 0.8 g/t gold from a depth of 96.6 meters in hole GS2335, including 133.5 meters averaging 1.43 g/t gold.

All the above highlights are from drilling on the west side of the Dolphin-Cleary deposit.

Freegold Venture Ltd.

Hole GS2333 cut a wide intercept of strong gold mineralization west of the Dolphin-Cleary deposit.

Freegold is awaiting the assay results from two additional holes drilled in this westward expansion area – GS2336 and GS2337 – before calculating an updated resource for Golden Summit.

The geology encountered during the 2023 program indicates the potential for shallower mineralization and increased resource grade along a large gold-in-soil anomaly that extends 1,500 meters (nearly a mile) west from the current resource.

The 2024 drill program, which is expected to get underway over the next few days, will test the potential for higher-grade and shallower gold mineralization along this westward expansion area that may improve the overall economics of a future mine at the already world-class Golden Summit project.

In addition to drill testing and metallurgical work ahead of completing an economic study, the 2024 program will include additional baseline, cultural and wetland delineation surveys.

Author Bio

Shane Lasley, Publisher

Author photo

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.


Reader Comments(0)