Freegold drills 336.8 metres of 1.32 g/t gold at Alaska project

Freegold Ventures Ltd. [FVL-TSX] has reported additional drill results from its Golden Summit project in Alaska. With six rigs in operation, the 2026 program is designed to advance Golden Summit towards an updated mineral resource estimate and the 2027 pre-feasibility study (PFS). The company said its key objective is to increase confidence in the known resource, particularly in the higher-grade areas, and to collect the technical information needed to determine which portion of the resource could support an initial starter pit, rather than expanding the overall deposit footprint.

The PFS is expected to evaluate a smaller, technically supported portion of the Golden Summit resource rather than the entire resource.

Meanwhile, the remaining drill results from the 2025 program and three holes from the 2026 program were released Wednesday. The results include selected higher-grade intercepts and broad mineralized intervals that continue to demonstrate both high grade potential and scale across the Dolphin-Cleary-WOW trend.

The company said higher grade corridors have now been traced continuously for more than 1.5 kilometres, from the Cleary Road Cut Shear (CRCS) into the northeast to the current drilling extent in the southwest, across an approximate width of 100 to 300 metres. The extended CRCS fault is now believed to be the principal controlling fault of the mineral deposit. It is steeply south dipping and continues to depth below current drilling.

Drilling in the Dolphin Area continues to strengthen continuity across the Dolphin-Cleary-WOW trend while testing for higher-grade intervals within the broader mineralized corridor.

Drilling highlights include hole GS2562, in the northern part of Dolphin. It was collared near the surface trace of the CRCS on its south side and returned 336.8 metres at 1.32 g/t gold starting from near surface (26.5 metres depth). Drilling ended at 553.8  metres with 3.9 metres of 1.22 g/t gold. Mineralization remains open at depth.

Freegold shares advanced on the news, rising 3.95% or $0.032 to 84.4 cents. The shares trade in a 52-week range of $1.41 and 66.7 cents.

The Golden Summit project consists of 50 patented claims and 94 unpatented federal claims (5,921 hectares) and is located on the north portion of the Fairbanks Mining District, a northeast-trending belt of lode and placer gold deposits that compose one of the largest gold-producing areas in the state of Alaska. The Fairbanks Mining District has produced over 9.5 million ounces of placer gold, of which 6.75 million ounces have been recovered from streams that drain the project.

In addition, over 506,000 ounces of lode gold were recovered from past producing mines on the project.

Golden Summit is currently estimated to contain an indicated primary resource of 17.2 million ounces at 1.24 g/t (432 million tonnes), and an inferred primary resource of 11.9 million ounces at 1.04 g/t (358 million tonnes).

Mineralization is hosted within the Dolphin intrusive and surrounding metasediments, which host four former underground gold mines known as Clearly Hill (281,000 ounces), American Eagle (60,000 ounces), Hi-Yu (110,000 ounces), and Newsboy Mine).