- Over 37,000 metres of drilling completed since drilling recommenced in February
- Broad zones of higher than existing resource grade mineralization
- Updated Mineral Resource to be completed in 2022
Highlights are as listed in the table below:
Zone | Hole | Hole | Dip | Azimuth | From | To | Interval | Au |
CLEARY | GS2126 | 498.4 | -70 | 360 | 94.3 | 130.4 | 36.1 | 1.61 |
Including | 107 | 110 | 3.0 | 12.90 | ||||
293.2 | 472.3 | 179.1 | 0.75 | |||||
including | 293.2 | 306.1 | 12.9 | 2.50 | ||||
including | 383.2 | 472.3 | 89.1 | 0.87 | ||||
including | 414.1 | 461.0 | 46.9 | 1.29 | ||||
DOLPHIN | GS2129 | 593.4 | –70 | 360 | 282.5 | 593.4 | 310.9 | 0.83 |
including | 462.4 | 544.7 | 82.3 | 1.85 | ||||
Including* | 465.4 | 468.5 | 3.1 | 16.30 | ||||
Including* | 541.6 | 544.7 | 3.1 | 12.50 |
Width refers to drill hole intercepts, true width cannot be determined due to the uncertain geometry of mineralization. |
Hole GS 2126 was drilled 25 metres to the south of drill hole GS 2017 which intersected the previously reported intercept of 588 g/t Au over 1.7 metres within a broader zone of 3.07 g/t Au over 98.2 metres from 300.5 to 398.7 metres ( 588 g/t Au intercept cut to 88 g/t Au) - (11.72g/t Au over 98.2 metres uncut). Results for hole GS2123 drilled to the west of GS2017 are pending.
Both GSDL2017 and GSDL2126 contain significant broad zones of higher-grade mineralization and these results continue to show that the grades in the Cleary Hill area are increasing and also thickening at depth in accordance with
Previous drill holes in the Cleary Hill area were largely shallow in nature. The 2020-2021 drilling in the area was designed to test if the Cleary Hill mineralization extends to depth. The mineralization at Cleary Hill not only includes narrow high- grade veins, but also includes multiple veins, veinlets and stockwork zones within broad areas of intense silicification and alteration extending from the old
DOLPHIN
Hole GS2129 was drilled towards the western side of the Dolphin intrusive near the historic Tolovana vein zone and in an area of limited previous drilling. Hole GS2129 returned 310.9 metres grading 0.83 g/t including 82.3 metres grading 1.85 g/t Au demonstrating the potential for significant resource expansion with the higher-grade intercepts lying outside of the boundaries of the current resource estimate.
The 2021 exploration program was not only designed to test for higher grade potential but was also designed to upgrade a portion of the mineral resource from the inferred to the indicated category, a necessary step in advancing the project through a pre-feasibility study. The Golden Summit project was the subject of an intensive drill campaign between
As part of the PEA a conceptual open pit, based on
The results of the 2020-2021 drilling will be incorporated into an updated mineral resource estimate later in 2022.
Drill cores are logged, photographed and cut in half using a diamond saw, with one-half placed in sealed bags for preparation and subsequent geochemical analyses by
A sample quality control/quality assurance program is in place. Over 37,000 metres have been drilled since drilling recommenced in
Drill Plan Map
https://freegoldventures.com/site/assets/files/2194/2021_drill_plan_map_nr_12072021.pdf
Freegold continues to operate a full-service camp at Golden Summit with stringent COVID–19 protocols in place.
The Qualified Person for this release is Alvin Jackson, PGeo – Vice President Exploration and Development for Freegold.
About
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
SOURCE
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