- Broad zones of higher than existing resource grade mineralization
- Results of 2021 drilling to be incorporated in an updated resource estimate to be completed in 2022
Zone | Hole | Hole | Dip | Azimuth | From | To | Interval (m) | Au |
Dolphin | GS2107 | 629.7 | -70 | 360 | 12.7 | 20.1 | 7.4 | 0.65 |
118.2 | 141.4 | 23.2 | 0.98 | |||||
340.6 | 571.9 | 231.3 | 1.22 | |||||
including | 521.1 | 523.2 | 2.1 | 44 | ||||
GS2111 | 541.6 | -70 | 360 | 219.6 | 230.7 | 11.1 | 1.26 | |
270.4 | 288.6 | 18.2 | 1.35 | |||||
346.6 | 364.8 | 18.2 | 1.39 | |||||
434.9 | 541.6 | 106.7 | 0.97 | |||||
Cleary | GS2127 | 608 | -70 | 360 | 78.6 | 103.2 | 24.6 | 1.9 |
116.1 | 157.5 | 41.4 | 1.96 | |||||
including | 155.3 | 157.5 | 2.2 | 30.39 | ||||
232.4 | 235.4 | 3 | 36.8 | |||||
287 | 299.4 | 12.4 | 1.32 | |||||
382.4 | 482 | 99.6 | 0.74 |
Width refers to drill hole intercepts, true width cannot be determined due to the uncertain geometry of mineralization.
The program is continuing to potentially expand the current resource but also define areas of significantly higher-grade mineralization. The current program is continuing to systematically determine the orientation of the higher-grade mineralization but also to define the extent of the mineralization which remains open. An updated resource calculation will be completed in 2022 once all the assays have been received from the 2021 program and will incorporate the results of the oxide expansion drilling conducted in 2017, as well as the drilling carried out in 2020. The results of over 50,000 metres of drilling are expected to be included in this update. Since drilling resumed in February, 2021, approximately 32,000 metres have been drilled in 59 holes, including holes in progress.
Hole GS 2107
Drilled on the north contact of the Dolphin intrusive and midway between GS2103 and GS2003, within the footwall schists, it intersected a 231.3 metre intercept grading 1.22 g/t Au which lies within the interpreted main mineralized zone and is roughly double the existing global resource grade of 0.65 g/t Au. These results continue to confirm
GS2107 521.1 – 523.2m – 44 g/t Au
Hole GS2111
Collared on the north side of the Tolovana Vein zone the hole intersected 106.7 metres grading 0.97 g/t Au, and bottomed in mineralization. The hole was terminated due to difficult drilling conditions at 541.6 metres.
Hole GS2127
Drilled in the Cleary area of the system. This hole intersected two intervals of greater that 30 g/t Au, the first 2.2 metre interval grading 30.39 g/t Au and the second a 3 metre interval grading 36.8 g/t Au. These intercepts may correlate with the
GS2127 – 155.3 – 157.5m – 30.39 g/t Au
S2127 – 232.4 – 235.4m – 36.8 g/t Au
Key objectives for the 2021 program:
- Determining the orientation and extent of the higher-grade mineralization.
- Expanding the currently known resource and upgrading the resource categories as part of the efforts to further advance the project through pre-feasibility, including additional environmental baseline studies, further metallurgical test work, and cultural resource studies.
In addition,
Drill Plan Map
https://freegoldventures.com/site/assets/files/2194/2021_drill_plan_map_nr_11032021a.pdf
Assay turnaround time continues to remain slow.
The Qualified Person for this release is
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Some statements in this news release contain forward-looking information, including without limitation statements as to planned expenditures and exploration programs. 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. The term "Mineral Resource" used above is defined per NI 43-101. Though Indicated Resources have been estimated for the Project, this PEA includes Inferred Mineral Resources that are too speculative for use in defining Reserves. Standalone economics have not been undertaken for the measured and indicated resources and as such no reserves have been estimated for the Project. Please note that the PEA is preliminary in nature, that it includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would allow them to be categorized as mineral reserves. There is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. Actual results could differ materially from those projected as a result of the following factors, among others: changes in the price of mineral market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and uncertainty of access to additional capital. See
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