The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Bottom of second hole cuts 136 meters averaging 1.02 g/t gold North of 60 Mining News – September 18, 2020
Remnants of the Beistline shaft from historic high-grade gold mining on Freegold Ventures' road accessible Golden Summit property about 25 miles north of Fairbanks, Alaska.
Freegold Ventures Ltd. Sept. 11 reports results from a second hole that validates its hypothesis that higher grade gold mineralization extends west from the historic Cleary Hill Mine, which produced 281,000 ounces of gold from ore averaging 1.3 oz per ton before the operation was shuttered during World War II.
The first hole of a winter drill program that got underway in March, GSDL2001, cut 188 meters averaging 3.69 grams per metric ton gold from a depth of 360 meters. This includes a two-meter intercept from 365.2 meters that averaged 169.5 g/t (4.9 oz/t) gold – reminiscent of the bonanza grades historically mined at Cleary Hill.
GSDL2002, drilled 150 meters east of GSDL2001, cut 12 meters of 2.3 g/t gold from a depth of 156 meters. This hole had just begun encountering the targeted Cleary vein system when Freegold suspended drilling at Golden Summit in response to COVID-19.
Continuing hole GSDL2002 deeper when drilling resumed in June, drills tapped 136 meters averaging 1.02 g/t gold from a depth of 370.6 meters.
Freegold says the intercepts in GSDL2002 continue to correspond with its revised interpretation that the strike of the high-grade Cleary Hill veins system may extend west and to depth from the historic mine workings toward the Dolphin intrusive, which hosts a bulk tonnage resource at Golden Summit.
According to a 2016 calculation, Golden Summit hosts 61.5 million metric tons of indicated resource averaging 0.69 g/t ton (1.36 million ounces) gold; and 71.5 million metric tons of inferred resource averaging 0.69 g/t (1.58 million oz) gold.
The mineralization tapped in GSDL2002 indicates the potential to expand this resource to the north.
Freegold is currently drilling GSDL2007, the seventh hole of a 10,000-meter drill program slated for 2020.
Assay results from the drilling at Golden Summit are taking considerably longer due to the COVID19 pandemic and increase in mineral exploration activity.
A second rig is being added to the drill program at Golden Summit, which is expected to continue into winter.
Though Golden Summit lies alongside of a paved highway only about 25 miles north of Fairbanks, Alaska, Freegold has established a full exploration camp at Golden Summit in order to limit contact with the community during the COVID-19 pandemic.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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