Freegold drills 41.1 metres of 3.99 g/t gold within 296 metres of 1.4 g/t gold at Golden Summit, Alaska
Freegold Ventures Ltd. [FVL-TSX; FGOVF-OTC; FR4N-FSE] reported final results from the 2020 program and results from the first two holes of its 40,000-metre program currently under way on its leased Golden Summit project, near Fairbanks, Alaska.
Holes are being systematically drilled not only to determine the orientation of the higher-grade mineralization but also to define the extent of the mineralization which remains open in all directions.Since drilling resumed in February, 2021, 14,700 metres have been drilled in 27 holes, including holes in progress. The program is continuing to potentially expand the current resource but also define areas of significantly higher-grade mineralization.
Hole GS 2101 was drilled northeast of the contact with the Dolphin intrusive, and continues to show very broad zones of greater than 1g/t mineralization, with significant sections grading better than 1.5 g/t, specifically, 421.6 metres of 1.11 g/t gold, including 231 metres of 1.16 g/t gold, including 0.9 metres of 24.6 g/t gold. Refer to company press release for more assays.
This is on the projected trend of the mineralization extending towards the Cleary vein system.
Hole GS 2018 is on the northern side of the Tolovana vein zone and indicates weakening of the mineralization to the northwest, although still intersecting very broad zones of above cut-off mineralization.
Hole GS 2108 was also located north of the Tolovana vein zone but further to the west than GS 2018, and intersected 41.1 metres of 3.99 g/t gold within a broad zone of 296.3 metres grading 1.4 g/t gold.
Hole GSDL2013 was located in the Cleary Area, and intersected 40.4 metres grading 1.29 g/t Au. The hole successfully demonstrated that mineralization extends beyond the depth of previous drilling. The mineralization remains open to depth.
The results of the drilling are continuing to successfully confirm Freegold’s revised interpretation that there is potential for a higher-grade corridor, effectively a vein swarm, consisting of multiple veins, veinlets and stockwork zones within areas of intense silicification and alteration extending from the area of the old Cleary Hill mine workings towards the Dolphin intrusive. Drilling is also demonstrating the potential for higher grade mineralization at Cleary Hill well below the level of previous drilling.
The 2021 drill program will continue to focus on continuing to determine the orientation of the zones of higher-grade mineralization consistent with Freegold’s revised interpretation, in particular, to the north, east and west of the Dolphin intrusive. In addition, drilling will also be directed to the south of the Cleary Hill mine workings where previous workings including the Colorado, Wackwitz and Wyoming vein zones which have never been tested to depth or along strike to the east. Past drilling in the Cleary Hill area has been largely shallow in nature and it is interpreted that the Dolphin intrusive likely underlies the Cleary Hill area at depth.