Freegold drills 99.1 metres of 0.29% copper, 0.014 g/t gold at Shorty Creek, Alaska

Massive chalcopyrite (copper) mineralization in a diamond drill core from the Shorty Creek Project, Alaska. Source: FReegold Ventures Ltd.

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Freegold Ventures Ltd. [FVL-TSX; FGOVF-OTCQX; FR4N-FSE] reported assays from the 2021 drill program on the Shorty Creek project located 125 km northwest of Fairbanks, Alaska. A total of eight holes were drilled (3,397 metres), and the program was fully financed under the Shorty Creek 70% option agreement with a wholly owned subsidiary of South32 Ltd. [SOUHY-ASX, LSE, Jo’burg; SHTLF-OTC]. Shorty Creek lies 4 km south of the abandoned mining town of Livengood and the all-weather, paved Elliott Highway.

Eight widely spaced holes were drilled on the property and provided a limited test of the areas outside of the Hill 1835 area, where Freegold previously focused its attention. The Hill 1835 area covers a 1,000 metre by 1,500-metre target area with copper mineralization associated with the magnetic high.

Two holes were drilled in the Quarry target (SC2101 and SC2102). The Quarry target tested a portion of the approximately 8-km long magnetic anomaly. SC2103 was drilled 350 metres northeast of SC1901A. This hole was designed to test an induced polarization chargeability high and coincident magnetic low. SC1901A, drilled on the northern edge of the Hill 1835 target area, intersected 99.1 metres of 0.29% copper, 0.014 g/t gold and 1.61 g/t silver.

SC2103 returned 63.6 metres of 0.12% copper, 0.24 g/t gold and 1.12 g/t silver.

SC2104 was drilled 500 metres northeast of SC2103 and was drilled within the chargeability high and flanking the Steel Creek magnetic high. Holes SC2105 through SC2107 were drilled in the Steel Creek area. The holes were all drilled within the weaker portion of the magnetic high at Steel Creek. SC2108 was drilled in the IP chargeability high flanking the magnetic high at Hill 1710.

Freegold is focused on exploration in Alaska and holds, through leases, the Golden Summit gold project, located near Fairbanks, as well as the Shorty Creek copper-gold project, located near Livengood.

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