GS2421 – Higher grade continuity intersecting one of highest
and broadest intercepts in the eastern section of the
resource.
- 115.5 metres at 1.17 g/t Au starting at 197.5 metres
- 42 metres at 3.62 g/t Au from 361 metres
GS2418 - A significant broad zone of mineralization,
including multiple higher-than-resource grade intercepts,
underscores the potential of the Main Dolphin Zone.
- 23.7 metres at 3.06 g/t Au starting at 95 metres
- 59.7 metres at 1.61 g/t Au starting at 317 metres
- 51.8 metres at 1.56 g/t Au starting at 407.8 metres
VANCOUVER, BC, Nov. 11,
2024 /CNW/ - Freegold Ventures Limited (TSX: FVL)
(OTCQX: FGOVF) ("Freegold" or the "Company") is pleased to announce
recent developments from its successful drilling program in 2024,
highlighting four specific holes that were drilled to facilitate
additional metallurgical testing. These holes were strategically
designed to collect representative material from the deposit while
improving infill drilling efforts. Approximately ~2,400 meters of
½ PQ core (~ 20 tonnes) have been shipped to BaseMet
Labs in Kamloops, BC, where a
comprehensive suite of metallurgical testing is currently underway
and will also focus on attaining comminution characteristics over
primary lithologies and alteration at Golden Summit. Notably, test
work conducted earlier this year showed an average recovery of 77%
using gravity and CIL; however, flotation and oxidation are
expected to increase recoveries to over 90%. The program will
include further leach, gravity and CIL, and BIOX®, POX
and Albion® test work with additional data from
these 2024 drill holes to facilitate future trade-off
studies. This testing is expected to take several months to
complete.
Among the completed test holes, Hole GS2421 is in the Cleary
Area on the east side of the resource footprint, while Hole GS2412
is west of Willow Creek on the west
side of the resource footprint. The remaining two holes, GS2414 and
GS2418, are in the north and south flanks of the main Dolphin
area.
Hole GS2421 filled in a 200m gap and is one of the most continuous
higher-grade intercepts observed in the eastern section of the
resource area, returning 115.5 meters at 1.17 g/t Au, starting
at 197.5 meters and 3.62 g/t Au over 42 meters
from 361 metres.
Hole
|
Depth
|
Dip
|
Azimuth
|
From
|
To
|
Interval
|
Au
|
Number
|
(m)
|
(m)
|
(m)
|
g/t
|
GS2421
|
475
|
-90
|
0
|
39.6
|
47.6
|
8
|
1.22
|
|
|
|
|
197.5
|
313
|
115.5
|
1.17
|
|
|
|
|
361
|
403
|
42
|
3.62
|
including
|
|
|
|
388
|
389.8
|
1.8
|
20.8
|
The widths refer to drill hole intercepts; true width
cannot be determined due to the uncertain geometry of
mineralization.
In response to the positive preliminary results from Hole
GS2421, a third drill rig was added in late October. Hole GS2434 is
being drilled 75 meters southwest of Hole GS2421, and one
additional hole is planned in the Cleary area before the
seasonal shutdown.
GS2418 – Southern portion of the Main Dolphin Zone
GS2418 was drilled in the southern portion of the
Main (central) Dolphin Zone. It returned several wide and
higher-grade intervals within a broad intercept of mineralization
(615.3 meters @ 0.8 g/t Au). Mineralization began within
20m of surface, with the first
higher-grade interval of 23.7m at
3.06 g/t beginning 95m downhole
and 170.7 metres at 1.23 g/t from 288.9 metres. It is
expected that GS2418 will enhance the resource grade in its
vicinity.
Hole
|
Depth
|
Dip
|
Azimuth
|
From
|
To
|
Interval
|
Au
|
Number
|
(m)
|
(m)
|
(m)
|
g/t
|
GS2418
|
949.5
|
-90
|
0
|
20
|
59
|
39
|
0.63
|
|
|
|
|
95
|
118.7
|
23.7
|
3.06
|
including
|
|
|
|
111.5
|
112.9
|
1.4
|
30.04
|
|
|
|
|
234.5
|
849.8
|
615.3
|
0.8
|
including
|
|
|
|
234.5
|
272
|
37.5
|
1.09
|
including
|
|
|
|
288.9
|
459.6
|
170.7
|
1.23
|
including
|
|
|
|
317
|
376.7
|
59.7
|
1.61
|
including
|
|
|
|
320
|
323
|
3
|
16.45
|
including
|
|
|
|
407.8
|
459.6
|
51.8
|
1.56
|
including
|
|
|
|
542.5
|
590.7
|
48.2
|
0.96
|
including
|
|
|
|
682.1
|
822.4
|
140.3
|
0.73
|
The width refers to drill hole intercepts; true width
cannot be determined due to the uncertain geometry of
mineralization.
GS2414 in the northern portion of the Dolphin Deposit is
characterized by multiple occurrences of visible gold, all within a
quartz muscovite schist. The holes again intersected several
higher-grade intercepts closer to surface – 12 metres at 17.9
g/t from 101 metres and a further 34.7 metres at 2.06 g/t from
183.3 metres.
Hole
|
Depth
|
Dip
|
Azimuth
|
From
|
To
|
Interval
|
Au
|
Number
|
(m)
|
(m)
|
(m)
|
g/t
|
GS2414
|
601.4
|
-90
|
0
|
101
|
113
|
12
|
17.9
|
including
|
|
|
|
104
|
106
|
2
|
26.6
|
including
|
|
|
|
106
|
107
|
1
|
14.9
|
including
|
|
|
|
107
|
110
|
3
|
45.1
|
|
|
|
|
146
|
164
|
18
|
0.74
|
|
|
|
|
183.3
|
218
|
34.7
|
2.06
|
including
|
|
|
|
200
|
202.1
|
2.1
|
15.3
|
|
|
|
|
317
|
356
|
39
|
0.7
|
|
|
|
|
395
|
411.6
|
16.6
|
1
|
|
|
|
|
440.7
|
534.3
|
93.6
|
0.93
|
|
|
|
|
554.7
|
593.4
|
38.7
|
1.33
|
The width refers to drill hole intercepts; true width
cannot be determined due to the uncertain geometry of
mineralization.
GS2412 – Immediately west of Willow
Creek. The hole intersected quartz muscovite schist
interbedded with carbonate schist, characterized by broad zones of
higher than resource grade material – including 45 metres at 1.14
g/t Au.
Hole
|
Depth
|
Dip
|
Azimuth
|
From
|
To
|
Interval
|
Au
|
Number
|
(m)
|
(m)
|
(m)
|
g/t
|
GS2412
|
563
|
-90
|
0
|
94.5
|
100.5
|
6
|
1.18
|
|
|
|
|
120
|
141
|
21
|
0.71
|
|
|
|
|
222
|
252
|
30
|
0.96
|
|
|
|
|
268.5
|
282
|
13.5
|
1.05
|
|
|
|
|
327
|
361.5
|
34.5
|
0.75
|
|
|
|
|
382.5
|
399
|
16.5
|
0.82
|
|
|
|
|
|
|
|
|
Hole
|
Depth
|
Dip
|
Azimuth
|
From
|
To
|
Interval
|
Au
|
Number
|
(m)
|
(m)
|
(m)
|
g/t
|
GS2412
|
563
|
-90
|
0
|
406.5
|
512.1
|
105.6
|
1.00
|
including
|
|
|
|
406.5
|
451.5
|
45
|
1.14
|
including
|
|
|
|
484.6
|
512.1
|
27.5
|
1.22
|
including
|
|
|
|
484.6
|
496.8
|
12.2
|
1.97
|
|
|
|
|
528.8
|
550.2
|
21.4
|
0.75
|
The width refers to drill hole intercepts; true width
cannot be determined due to the uncertain geometry of
mineralization
The 2024 drill program is strategically focused on the western
extension to explore potential additional expansion and infill
drilling in key locations in preparation for a pre-feasibility
study. The results highlight the presence of continuous
higher-grade mineralization in the resource area, emphasizing the
need for further infill drilling before any economic assessments
are made. Assay results demonstrate that infill drilling
could potentially increase the resource grade.
Drilling is expected to shut down for the season by the end of
November and resume in early March. The results of the 2024 drill
program will be incorporated into an updated mineral resource
estimate as Freegold continues to move the project towards
pre-feasibility. Thirty-four holes have been completed, and
three more are in progress.
A plan map showing the locations of the 4 metallurgical drill
holes and cross-sections can be found here.
https://freegoldventures.com/site/assets/files/6387/goldensummit-dolphin-cleary_resource_drilling_western_anomaly_reportedholes_l479000-479500_november2024.pdf
https://freegoldventures.com/site/assets/files/6387/section_479500e.pdf
https://freegoldventures.com/site/assets/files/6387/section_479000e.pdf
In addition to the ongoing drill program, metallurgical, baseline
environmental, cultural resource, and wetland studies remain
ongoing.
A sample quality control/quality assurance program has been in
place throughout the program. Drill cores were cut in half using a
diamond saw, and one-half placed in sealed bags for preparation and
subsequent geochemical analysis by ALS Laboratories. Core samples
were prepared in ALS's facility using the PREP-31BY package. Each
core sample is crushed to better than 70 %, passing a 2 mm (Tyler 9
mesh, US Std. No.10) screen. A split of 1kg is taken and pulverized
to better than 85 % passing a 75-micron (Tyler 200 mesh, US Std.
No. 200) screen; a portion of this pulverized split is digested by
Four Acid and analyzed via ICP-AES (method code ME-ICP61).
Fire Assay analyzes all samples with an AAS finish, method code
Au-AA23 (30g sample size) and over 10 g/t are automatically assayed
using a FA Grav method, Au-GRAV21. Additional Au screening is
performed using ALS's Au-SCR24
method; select samples are dry-screened to 100 microns. A duplicate
50g fire assay is conducted on the fine fraction, and an assay is
conducted on the entire oversize fraction. Total Au content,
individual assays, and weight fractions are reported. Analytical
and assay procedures are conducted in ALS's North Vancouver and Reno facilities.
A QA/QC program included laboratory and field standards inserted
every ten samples. Blanks are inserted at the start of the
submittal, and at least one blank every 25 standards.
The Qualified Person for this release is Alvin Jackson, P.Geo., Vice President of
Exploration and Development for Freegold, who has approved the
scientific and technical disclosure in this news release.
About Freegold Ventures Limited
Freegold is a TSX-listed company focused on exploration in
Alaska. It holds the Golden Summit
Gold Project near Fairbanks and
the Shorty Creek Copper-Gold Project near Livengood through
leases.
Some statements in this news release contain forward-looking
information, including, without limitation, statements as to
planned expenditures and exploration programs, potential
mineralization and resources, exploration results, the completion
of an updated NI 43-101 technical report, and any other future
plans. These statements address future events and conditions and,
as such, involve known and unknown risks, uncertainties, and other
factors which may cause the actual results, performance, or
achievements to be materially different from any future results,
performance, or achievements expressed or implied by the
statements. Such factors include, without limitation, the
completion of planned expenditures, the ability to complete
exploration programs on schedule, and the success of exploration
programs. See Freegold's Annual Information Form for the year ended
December 31st, 2023, filed under
Freegold's profile at www.sedar.com, for a detailed discussion of
the risk factors associated with Freegold's operations. On
January 30, 2020, the World Health
Organization declared the COVID-19 outbreak a global health
emergency. Reactions to the spread of COVID-19 continue to lead to,
among other things, significant restrictions on travel, business
closures, quarantines, and a general reduction in economic
activity. While these effects have been reduced in recent months,
the continuation and re-introduction of significant restrictions,
business disruptions, and related financial impact, and the
duration of any such disruptions cannot be reasonably estimated.
The risks to Freegold of such public health crises also include
employee health and safety risks and a slowdown or temporary
suspension of operations in geographic locations impacted by an
outbreak. Such public health crises, as well as global geopolitical
crises, can result in volatility and disruptions in the supply and
demand for various products and services, global supply chains, and
financial markets, as well as declining trade and market sentiment
and reduced mobility of people, all of which could affect interest
rates, credit ratings, credit risk, and inflation. As a result of
the COVID-19 outbreak, Freegold has implemented a COVID management
program and established a full-service Camp at Golden Summit to
attempt to mitigate risks to its employees, contractors, and
community. While the extent to which COVID-19 may impact Freegold
is uncertain, it is possible that COVID-19 may have a material
adverse effect on Freegold's business, results of
operations, and financial condition.
SOURCE Freegold Ventures Limited