Announcement Date: 2022-10-18
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Freegold Ventures Ltd.
Project name: Golden Summit
Location: United States
Commodities: Gold
Highlight: Drilling results incl. 420.7m at 1.36g/t Au from 294.7m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Vancouver, October 18, 2022 Freegold Ventures Limited (Freegold) (TSX:FVL: OTCQX: FGOVF) is pleased to announce results from an additional 6 holes (3,925m) as part of the ongoing drill program designed to expand, upgrade and increase the overall resource grade at the Golden Summit Project (“Golden Summit” or the “Project”) through systematic drilling. Holes GS2136, and GS2221 were drilled to the north in the Tolovana Area. Results from both holes demonstrate the potential for broad zones of higher-grade mineralization. GS2221 was intended to intersect the downdip of the high-grade mineralization intersected in GS2121 where the bottom 62.4 metres (492.9m to 555.3m) averaged 4.54 g/t Au and included multiple high grade intercepts. GS2221intersected 73.1 m grading 4.26 g/t Au within the lower part of a broader mineralized zone. GS2136, did not reach target zone due to difficult drill conditions. The bottom 39.6 metres averaged 2.88 g/t as it entered the zone. The main Cleary Hill Vein swarm dips to the south, and plunges southwest towards the Dolphin intrusive, with the mineralization increasing in intensity closer to the Dolphin intrusive, especially along the contact margins. These broad-spaced holes in the Cleary East area, all drilled to the north, were designed to test the eastern extension of the Cleary System at depth with several wide-spaced holes.
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