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Freegold's final 2023 drill assays are in

North of 60 Mining News - April 17, 2024

Freegold Ventures Ltd.

Golden Summit drill core being cut in preparation for shipping to an assay lab for analysis.

Wide gold intercepts cut in the final two holes lay groundwork for 2024 drilling; a new resource is now being calculated for 20-million-oz gold deposit.

Freegold Ventures Ltd. April 17 reported that the final two holes of its 2023 drill program cut wide sections of gold mineralization in the western expansion area of the 20-million-ounce Dolphin-Cleary gold deposit on its Golden Summit project about 25 miles north of Fairbanks, Alaska.

According to an early 2023 calculation, the Dolphin-Cleary deposit 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 inferred resource averaging 0.85 g/t (7.7 million oz) gold.

The 44-hole drill program completed by Freegold last year included 37 holes focused on expanding and upgrading this resource, along with seven reconnaissance holes at the Saddle discovery zone about 2.5 miles east of the Dolphin-Cleary deposit.

Much of the 2023 resource expansion drilling focused on testing a large gold-in-soil geochemical anomaly that extends 1,500 meters west of the deposit.

Highlights from previously reported holes drilled west of the Dolphin-Cleary deposit include:

113.3 meters averaging 5.42 g/t gold in hole GS2314.

444.9 meters averaging 0.75 g/t gold in hole GS2329.

3.1 meters averaging 41.4 g/t gold and 3.1 meters averaging 25.3 g/t gold in hole GS2332.

276.5 meters averaging 1.76 g/t gold in hole GS2333.

443.7 meters averaging 0.71 g/t gold in hole GS2334.

414.5 meters averaging 0.8 g/t gold in hole GS2335.

The final two 2023 holes drilled in the western expansion area of the Dolphin-Cleary deposit cut widths and grades similar to GS2335. Highlights from these holes include:

419.6 meters averaging 0.86 g/t gold from a depth of 257.7 meters in hole GS2336, including a 19.5-meter subsection averaging 4.26 g/t gold.

444 meters averaging 0.85 g/t gold from a depth of 260 meters in hole GS2337, including a 75.2-meter subsection averaging 1.31 g/t gold.

These last two holes of the 2023 program were drilled about 250 meters apart beyond the southwest margins of the deposit outlined so far.

Freegold Ventures Ltd.

Map of drilling at Dolphin-Cleary, along with three gold-mineralized trends adjacent to the deposit.

Freegold says its 2023 drilling clearly demonstrates the potential to expand the resource along the geochemical anomaly that extends nearly one mile west of the current deposit.

With all the assays now in, Freegold is having the results from the 2023 program incorporated into an updated resource for Golden Summit, which is slated for completion by midyear.

In the meantime, the company has kicked off a 2024 drill program that will test three gold-mineralized trends immediately adjacent to the current deposit – two south-southwest flanking trends and a clear east-west trend.

Author Bio

Shane Lasley, Publisher

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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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